All Forum Posts by: Elbert D.

hello BP realtors, 

I'm looking for a realtor who has worked with wholesalers(trustworthy) before. My previous realtor and I had to part ways because she is retiring this year. I'm looking to bring some major business to anyone that wants to work together. ^__^ 

Ladies and Gentlemen,

See attached documents for ROI worksheet, comps and pictures.Don't delay as this will not last!

https://www.dropbox.com/sh/3c6kxaf54g7f2u2/AABwO57tXz70_7FRa7qv0V0-a?dl=0

Chicago Belmont Heights Flip:

28% ROI!!!

This is a Single family home in an upper income area! Its near many restaurants, express-ways, and a movie theatre. Ohara airport is also not too far away. This home has a great ROI with excellent flipping potential in a high demand area.

Property Address:

3217 N. Octavia Ave, Chicago, IL, 60634

Property Details:

Sided story home

3 beds

2 bath

1,513 sq. ft.

Year Built:1941

Partial finished basement

Taxes(2016): $3,632

Price:

Purchase Price: $150,900

Rehab Price: $110,000

Total Price: $277,500

ARV Range: $355,000

Gross Profit: $78,000

ROI: 28%

Repairs needed

1st floor: Remove all carpet and refinish hardwood underneath, windows, tear out all interior walls to create open concept, replace wood paneling with drywall, paint, remodel kitchen, remodel bathroom, tear out drop ceilings, exterior doors, hardware and trim

2nd floor: Remove all carpet and finish hardwood underneath in all 4 bedrooms, windows, replace wood paneling with drywall, paint, tear out drop ceilings, doors, hardware, and trim.

Basement: Hot water heater, Replace flooring, Furnace, and replace plumbing for new kitchen and bathroom setup. Additional room can be added to the house for a 4/3

A wise man once told me...."not taking risk, is the riskiest thing you could do" there is no blueprint to life......your going make mistakes in whatever you do. Learn from them and just get better. There is no such such thing as job security. The only guaranteed thing in life is death and taxes. 

I'm not going say what you or anyone should do but whatever you chose to do never give up and give maximum effort. 

Just my two cents. 

Ladies and Gentlemen,

The family put the house on the market for a very quick sale.

Please reach out to me for comps(PM or by cell), I have some good quality tight comps ran within a quarter mile.

https://www.dropbox.com/sh/o70 ucxjo2r5f5ck/AAA_C1yUwOiRcDisw 7OiakZFa?dl=0

Chicago Lincoln Square Home

31.26% ROI!!!

This is a Single family home in an upper income area! Near DePaul university and not too far from Lake Michigan. This home has a great ROI with excellent flipping potential in a high demand area.

Property Address:

5365 N. Bowmanville Ave, Chicago, IL

Property Details:

Sided 2 story home

4 beds

1 bath

1,536 sq. ft.

Year Built:1898

Full finished basement

Taxes(2016): $4,327

Price:

Purchase Price: $348,000

Rehab Price: $120,000

Total Price: $468,000

ARV Range: $655,000

Gross Profit: $156,000

ROI: 31.26%

RepairS needed

1st floor: Remove all carpet and refinish hardwood underneath, windows, tear out all interior walls to create open concept, replace wood paneling with drywall, paint, remodel kitchen, remodel bathroom, tear out drop ceilings, exterior doors, hardware and trim

2nd floor: Remove all carpet and finish hardwood underneath in all 4 bedrooms, windows, replace wood paneling with drywall, paint, tear out drop ceilings, doors, hardware, and trim.

Basement: Hot water heater, Replace flooring, Furnace, and replace plumbing for new kitchen and bathroom setup.

Exterior: Rollover a new layer of architectural shingles, landscaping, build new garage

Total Rehab Cost: $120,000 (gut rehab)

Optional: Our contractor will complete the rehab for you if you need that service.

terms of sale:

The highest Cash Offer will take the deal. Please do your own due diligence before contacting us. Send in Proof of Funds along with your offer.

We have equitable interest in the property.

• The info listed above is to the best of our knowledge.
• Buyer pays 100% of closing costs which include transfer taxes, title insurance,city fees and title company fees.We get a "major" discount on closing costs.
• Buyer will receive taxes prorated to 100 percent and free and clear title
• Please do all your inspections and due diligence up front before contacting
• Proof of funds required for viewing
• The first investor with a signed contract and $1,500 earnest money gets the deal
• This is an IRA Qualified investment

CONTACT DETAILS

PM: Elbert Dockery

Phone: Elbert: 773-401-7321 Text or Call(Please leave voicemail if I dont answer)

Or you could have a close relationship with a realtor who knows what it takes to win. lol ^__^

 I don't go into the crime areas @Ryan Redenius the class A andB areas CCR honestly isn't that good but is a great area to flip. The class C areas have a mixture of both.

@Ryan J. Shope yes, well you could ask any wholesaler, flipper or landlord that actively invest in Chicago and everyone would all agree the taxes are very high but depending on where you invest deals can still be found. The market is very tight everywhere so the good deals are snatched very quickly. 

Flip deals can still have ROIs ranging from 25-31% and buy and holds can still be found with CCR 12-17% its not common for deals like that to be plentiful right own but they appear every once in awhile. This is with high taxes.....but If I'm wholesaling a deal i don't go over about $4,000 in taxes usually because it kills the profit for the investor. This is based on me calculating and analyzing properties. It also depends if the investors are using my rehab team to fix the properties as well.

Lastly, if investors want to have a property manager for rentals that's also available for them to use as well. I work with one who manages Chicago and Indiana and she does a great job. So the infrastructure is there for any investor out of town to use, but unfortunately the good inventory isn't as available. Realtors with great experience of running comps provide quality tight comps within a 1/4 to 1/2 mile for properties and my GC provides rehab estimation cost so numbers are not pulled from out of the sky with randomness just to make a quick buck. 

you might want to also consider Indiana as well. The taxes are cheap and the state is landlord friendly. Northwest Indiana in particular is full of Potential and considered a suburb of Chicago as it lays close to the border of Illinois. 

@Joseph M. haha nice finds. The Mods should just make this thread the official celebrity real estate news thread or official celebrity real estate pics thread.

I would imagine people could use it as motivation or just a nice thread to look at and or get news from. 

I'm actually surprise no one went to go digging to see if they had any other properties in Florida or New York or Las Vegas and any other highly desirable state in America. They more than likely are using a trust and or LLC.

Since it is a thread about those two, hey why not post their other properties if it's on the internet lol.