All Forum Posts by: Jaclyn McClellan

I agree with Troy Beebe and some of the other comments - probably not the best area to invest in from out-of-State, if at all

I know this is general but honestly it all depends on the numbers. Illinois has a lot of potential and so many different sub-markets. If the numbers make sense then do it!

Thank you I’ll call them !!

Anybody on here a contractor or know of a landscaping company that is still doing work in the Chicagoland area? The company we intended to use said it was too late in the season for them. Thank you!

Manolo D. Thank you so much thanks very very helpful. We have gotten ourselves into trouble before with being too trusting on other projects, so I'm learning slowly but surely to be a little bit more skeptical in some cases and also protect myself as best as possible. Knowing the options ahead of time and making sure it's in the contract is key.

I'll have to reread the contract, I am just kind of curious because if the quote said $12500 for something and it magically comes up to $12500 on the spot.. you know?

I was wondering if I could get some feedback from others...

What type of documentation do you require your GC to give you when you're doing a flip. Like throughout the process, do you ask for receipts for materials? A breakdown of labor versus materials at each phase? 

I am trying to work on improving my documentation at each phase of the project.

BiggerPockets

Welcome to Bigger Pockets! Great group of people and you can get many questions answered.

Adding to what everyone else said - I would make sure you have a contractor you can trust or at least can give you a good idea of the rehab costs. Whatever they say it will be, or whatever you think it will cost, I would automatically assume it will cost more. There are ALWAYS surprises. Try to stay conservative. Like others have said, you may be getting out bid because you may not be paying cash. Also if you know who is outbidding you, it may be worth it to try and connect with them. I'm sure they can offer some insight. A lot of the people I have talked to so far in Chicago have been superrrr helpful. 

Good luck!