All Forum Posts by: Mark Ainley

Wholesalers and some on MLS. Areas like Elgin and southside still have deals but the areas in between are few and far between.

Morning,

With the large renter pool out there right now if you are priced right and you have a good product you should be able to get a quality tenant in 3-4 weeks especially if you start marketing after jan 1. This is our backyard and we do 4 or 5 a month year around and there is a demand for quality SFH in the area last couple of years.

Let me know if you want me to analyze any thing more specific for you!!

Angel Castro from Castro Construction 

773-571-5650

We have used him before and he is a super honest guy that can get the work done under a scheduled completion.  I am sure he can provide you with other references as well.

Haves:

-Property Management Experience (Manage 750 units and 1 million sqft of commercial space in Chicagoland Area)

-Knowledge about commercial and residential rehab

-Knowledge about Chicago neighborhoods especially high cash flow neighborhoods on the South Side

Wants:

-To establish relationships that last beyond this weekend

-Partners or purchasers of residential real estate in Chicago

-Distressed Properties in Chicago

-More knowledge about deal structures for syndication

-Network with Direct Marketers like @AaronMazzrillo and @JerryPuckett

Goals:

-Buy, Rehab, and Rent 50 properties next year

-Establish a wider network of investors both nationally and internationally

-Sell 1-2 cash flowing properties a month to pay down debt on current assets

-Put together a syndication end of 2015

-Source 75% of my deals off market in 2015

@Keyur S.@Sarah Lam@Ritesh Arora@Will Barnard@Ravi Anap@Kyle Tam@Csilla Szantai@Guan Lian@Sepehr B.@Nhi Nguyen@Eleanor V.@Robert Musallam@Joan C.@Alan Malicse@Jaren Barnes@John D.@Ahmed Moussa@Dave Limbocker@Brandon Lee@Jay Y.@Kenneth Hugen@Gail Anderson@Melvin Yuen@John Patrick Lantin@Ben Freeman@Tiffany M.@James Peterson@James B.@Tyler Funk@Sean Cronan@Yu L.@Kelvin Chiu@Adam Hofmann@Eric Kennedy@Beau Eckstein@Dustin Hatcher@Kiran R.@Jordan T.@Evan R.@Joseph Atkin@Brandon Foken

What is the property and where?  Is it a deal you can flip to a BP member?

1. Welcome!!! @jonathan Nixon We specialize In the western burbs. You won't find any multi deals but there are plenty of attached and SFH deals that will get you 8-11% returns in the area. One of our specialties is investments in northerN DuPage and Western Cook. A few good deals in Dupage section of hanover right now in the Carol stream school district. Feel free to reach out any time to discuss.

Last years $9000 is normally $5100 range the last two years which for 8 months of heat averages about $106.25 per unit in a normal year.  Because we pay heat we do get about $200 more per unit per month from our subsidy tenants.  

We learned our lesson with baseboard electric heaters when we first got into this market.  Tenants don't know how to operate the heaters efficiently which runs up their bills, they cant afford it, and they move out.  Unless it is a boiler we stick to the furnaces where the tenants pay for their own metered usage.  

I would recommend getting the actual bills from the seller for gas or get the account number and your Realtor can pull up the actual for the last year in the MLS or get me the account number and I can help you. In our crazy winter last year our smallest 6 flat which is right around the same size was still at $9,000 for the year and that is on a 6 year old system.

$4200 for insurance can be in line depending on coverage.   For $4200 you should have a $1000 deductible and replacement costs with all the bells and whistles of a policy.  Don't go thru a state farm or american family on a policy like this go to a true broker and if you need a guy let me know.  

I actually was sent an email today from a contact I have a CHA (Chicago housing Authority) that they will be handing out 1000 new vouchers in the next few weeks.