All Forum Posts by: Elbert D.

To be honest everyone uses list source. At this point it’s time to start using different lead generation methods because there are more and more people getting into real estate. I’m still experimenting some things myself for fix and flips and wholesale deals. Its a lot of junk out there so it’s hard to gage if your going get a high quality lead or junk. It’s a tough market everywhere no matter where you look.

@Darwin Crawford I agree with most of what you said. The barrier to entry is next to nothing. Although for the people who are completely broke thinking you don't need anything at all.....you do have to put down EMD where it's 500 or 1000. But there are ways around this for the ones who know what they are doing. It's actuallly funny because most people I know in my area don't have contracts on these houses! Smh. Also I really really hate other wholesalers who just throw anything out to people in hopes of selling it. Not knowing anything about the house or have seen it!!! Most of them think of it as a quick come up instead of a business(organized and professional) it's actually kinda funny when wholesalers are caught in their lies.

I’m still very curious how wholesalers from other states wholesale properties with no rehab crew!!! Unless your looking to only sell to locals. But that wouldn’t make much business sense. I could go on and on about the things I see and hear about. But I’ll rather not. 

I’m going say this and end my post. The goal of wholesaling I hope for most isn’t to stay a wholesaler. Most moderately successful wholesalers who run their operation like a business move into flips and or buy and holds. It definitely is a lot of work. Especially when you have to manage rehabs and get involved with closes to ensure they close. It’s really a full time job and anyone that has done deals would agree with me. 

Buy and Hold Turn-key in Roseland!!!

PROPERTY DESCRIPTION

Freshly Rehabbed! Extraordinary cash flow opportunity in Roseland. Great cash-flowing property! Turn-key and move in ready. Bishop Ford expressway 5 minutes from the home. Easy travel to Downtown Chicago. Walmart, US Bank Corp building and a strip mall for shopping convenience.

Price: $89,500

Rehab Cost: $0

ARV: $120,000

CCR: 12.45%

Rent: $1350 for section 8 rent

PROPERTY DETAILS

• Bedrooms: 3
• Bathrooms: 1
• Square Footage: 946
• Year Built: 1917
• Type: Frame single family
• Garage
• Heating: Forced Air
• Cooling: Central A/C
• Water: City
• Sewer: City
• Taxes: $1,300

REPAIRS NEEDED

All Ready To Go!!!!

COMPARATIVE SALES

Please email me for those

TERMS OF SALE

The highest cash offer will take the deal. Do your due diligence before contracting. Send in proof of funds along with your offer. Cash offers will be favored.

We have equitable interest in the property and we are selling our contract.

• The info listed above is to the best of our knowledge Cash or private/hard money only
• Buyer pays ALL closing costs which include Transfer taxes, title insurance, and title company fees
• Buyer will receive taxes prorated to 100 percent and free and clear title
• The first investor with a signed contract and earnest money gets the deal
• This is an IRA Qualified investment
• Our Property Manager will manage this property for you if you need those services

https://www.dropbox.com/sh/btbxfet0vwsy5b5/AAB1zxD_g8lTjzb0bygcDVhwa?dl=0

i actually heard Ford is extremely business friendly with doing car loans and leases. Most of the other car companies I hear ask for many other things to make the transaction happen. 

good information @Dale Stevens you know your stuff it’s sad people are just for themselves. I have met a LOT of people who are borderline trying scam someone. Smh but you haven to realize it comes with the territory. 

well if your looking to do that volume. You would need to have inventory that doesn't need much rehab. The price for the property has to be right for you to generate a decent profit. I don't know about you guys but these banks and HUD aren't budging much on price here in Illinois and Indiana market. It's going be really tough to find properties like that righ now. Also banks are holding onto the good ones right now as well.

Your best option would definitely be to look outside your state for sure and have one lined up while the other is half complete. There are 52 weeks in a year.....that means for you to do 15-20 properties a year you would need to fix and flip properties that need no more than 4 weeks of rehab......also add in the inspection and appraisal periods and the title search for the property......do you think you can realistically flip that many based on those conditions? 

never stop buying! Buy everything then sell it back at the height of the market. Lol.....JK of course. 

Sure. But I’ll rather you Pm me. I don’t want to get flagged lol

lol....all of these real estate websites use algorithms based on some generic formula. They are all wrong for the most part. Use a realtor who has experience with running tight comps no more than a half a mile. The tighter the better....

Well it all depends......I notice New York is one of those places in America where people are looking to invest in other places for real estate. The midwest is doing pretty well overall. It depends on what you want to do within real estate. If you are also considering flips, I would put Chicago on my list. Homes vary in prices all over plus there is a extensive amount of suburbs that are high dollar. 

As far as buy and hold investments, I'll put Indiana in my top 3 because there is a ton of potential there for any investor to cash flow really well. Cash on cash returns range between 12-19%!!!!!!!! let me know if you guys have any other questions.