All Forum Posts by: Dante Williams

@Sean McKee both areas are on a block by block basis. In Austin there are certain areas with higher concentrations of crime particularly bordering Central east to Cicero and Augusta south to the 290. Even within that large area there a few good blocks.

You’ll have to drive the blocks yourself to see if you’re comfortable investing there. East Garfield is similar but the high crime spots are more scattered instead of block to block. Hope that helps.

What’s the real concern here? If you’re acquiring a tenant that shows self efficiency and are respectful of the property and neighbors why does it matter that the government is cutting the check? IMO generalizing a group of people based on their social status equates to housing discrimination. Should you do your due diligence? Should you check work history, walk through current apartment, talk to current land lord? Absolutely, but don’t rule them out just because they have government assistance.

Just use the Chicago Association of Realtors Apartment/Investments Purchase and Sale Contract. Attorneys and title company are familiar with it. Just googled and it should come up

I don’t have the link. Just GOOGLE Best Chicago Wholesale Deals. Or search for it on facebook they have a facebook page that you can like and follow

Best Chicago Wholesale deals has a Meetup at the Ram in Rosemont on March 5th.

Ryan,

Thanks for the advice. This scenario is a little different since the guy that I'm considering partnering with is an active investor and a partner in a REI company that I've wholesaled to in the past.

Hi Cheryl, thanks for the feedback. I had an initial meeting with him Friday to feel him out. I planned to ask for the credentials and references during the second meeting. But, I know he's credentialed since I've worked with a company that he co-founded a few years ago. Also, I'm still in the planning stage at this point so we don't have a project plan or budget and I do not have a contract with him yet. The contract will initially be a strategic partnership that will translate into 50/50 ownership of a Series LLC that my Master LLC controls. That way I have the flexibility of establishing and dissolving the partnership when the objective is met.

Thanks for the feedback. I'm in the Chicago land market. What do you think in terms of the profit split?

Hi fellow BP members. I have a question about partnering up with an experienced GC/Investor. I've been wholesaling since 2012 and I'm ready to take the leap into fix and flip. However, I have no construction experience  and I want to partner up with a local GC but, I'm not sure on the best way to structure the distribution of profits. I know that the typical project management fee is around 20% of gross profits but I want to ensure that the potential partner stays motivated and dialed in during the rehab process. Given the following scenario what do you think would the best way to structure the distribution of profits?

My role & responsibilities

1. Source properties

2. secure purchase and rehab funding

3. marketing

4. secure end buyers

GC/ Partner

Oversee all project and construction related activities. 

Under this arrangement he makes no financial contribution. Do you think that 50/50 is a fair split given that I have all of the financial risk and he has the experience? Also, if I do go with a 50/50 split, should I make sure that he isn't making money from material and labor ? I just want to make sure that I'm not getting taken advantage of. 

I'm a current Flip 2 Freedom Academy member. I actually started wholesaling and completed my first couple of deals using only free real estate blogs, and YouTube channels. Having been on both sides of the discussion I know that deals can be done using only free resources. HOWEVER, the knowledge that I gained from joining F2F sped up my learning tremendously and made me more organized and focused. The cost of the course delivers the best value that I've seen so far. I've literally seen friends and family attend seminars and sign up for a similar price from well known gurus but, they only receive pieces of the information in the course and need to up grade for thousands more in order to get the full value of what they've already purchased. Sean's course had the following benefits for ME: 1. Video modules that I could move through at my own pace. 2. Clear and easy to follow format 3. All material was relevant and actionable so, it's on the purchaser to take action 4. Sample marketing programs and strategies thoroughly explained 5. No ridiculously, shady, sales tactics such as "we've made awesome new updates to the program and to receive those updates please pay us a hell of a lot more money". Your a lifetime member and your membership includes any new updates to the program purchased. Do your research and line up the top 5 gurus courses and compare the price to value of each. Make sure to take into consideration how often they are pushing "new" courses and "updates". And form your own conclusion if it's worth it to you.