All Forum Posts by: James Lehmann

Evanston is a hot area. Don't let this one go! Call James at

773-669-4449 for access. Seller still occupies property for 2 weeks.

 Pictures

Selling for : $225,000

Repair Cost: $30,000-$50,000

After Repair Value: $320,000-$330,000 (Up to 385k with dormer or addition)

1206 South Blvd.

Evanston, IL. 60202

Single family residence

2 bedrooms, 1 and half bathroom

2 car garage (insulated)

Total land square footage: 4,466

House square footage: 964

Stone facade

Additionally: 1 bedroom in basement

2 basement rooms that can be turned into bedrooms.

Central Air

Hard wood floors

Tile floor in in kitchen

plumbing and electrical in good condition

Upgrades needed:

1. New kitchen

2. Roof, last done 10 years ago

3. Painting interior

4. 12 windows in good condition but can be replaced if desired

Comps: 1424 Seward St. 3+1 beds 2 baths brick rehab sold for $375,000

419 Florence Ave. 3 beds 2 baths brick rehab sold for $344,000

327 Florence Ave. 3 beds 2 baths brick sold for $342,000

651 Dewey Ave. 2 beds 2 baths frame sold for $275,000

545 Wesley Ave. 3 beds 1 baths brick sold for $265,000

1719 South Blvd. 3+1 below grade 2 baths brick active $337,000

Thanks Matt. I will get it all nailed down and proper.

Selling for : $225,000

Repair Cost: $30,000-$50,000

After Repair Value: $320,000-$340,000

1206 South Blvd.

Evanston, IL. 60202

Single family residence

2 bedrooms, 1 and half bathroom

2 car garage (insulated)

Total land square footage: 4,466

House square footage: 964

Stone facade

Additionally: 1 bedroom in basement 

2 basement rooms that can be turned into bedrooms.

Central Air

Hard wood floors

Tile floor in in kitchen

plumbing and electrical in good condition

Upgrades needed:

1. New kitchen

2. Roof, last done 10 years ago

3. Painting interior

4. 12 windows in good condition but can be replaced if desired

Comps: 1424 Seward St. 3+1 beds 2 baths brick rehab sold for $375,000

419 Florence Ave. 3 beds 2 baths brick rehab sold for $344,000

327 Florence Ave. 3 beds 2 baths brick sold for $342,000

651 Dewey Ave. 2 beds 2 baths frame sold for $275,000

545 Wesley Ave. 3 beds 1 baths brick sold for $265,000

1719 South Blvd. 3+1 below grade 2 baths brick active $337,000

Pics: https://www.dropbox.com/sh/bg8b7i8ofuy0n33/AAAIQxIw3LjCBdCX_6Vxr4iGa?dl=0

Evanston is a hot area. Don't let this one go! Call James at 773-669-4449 for access. Seller still occupies property for 2 weeks. 

Welcome to BP. I am a wholesaler in Chicago, and I would love to help you out any way I can. This site has tons of useful info, and the podcasts are super informative as well. If you haven't listened to any yet, I suggest starting at episode 1 and catching up!

Great read man. I'm in Chicago and I just completed my first wholesale deal. I signed up for RE classes and am starting in 2 weeks. Quick question, do I have to modify my marketing to disclose that I am a realtor after getting licensed?

I did indeed mean houses. Here in Chicago I would backtrack a new house that was just built to see how much the developer paid for the land or the existing house that they tore down to build new. That is how I determine the value of said lot. 

What you need to do is find new construction or land comps. If you don't have MLS, an agent may help you out, but they will probably want something on the back end. Once you find those, you can see how much the developers paid for the lot or the tear down to begin with. This will generate a rough starting point for you. For example, If there are 5 new construction houses within 1/4 mile that originally were bought by developers for 150k-160k. I would try and get that lot under contract for 125k-135k. Then track down all of those builders, developers, or whoever is active around there and start trying to assign the contract. Ask if they are looking for a new project close by to the one they just finished Hope that helps!!

Hey everyone. I have a question. I'm starting my classes to get licensed in a few days. I know there has been tons of debate on it being necessary or not, but I think it will be helpful. I am currently a wholesaler. I have craigslist ads, bandit signs, direct mail, and a website for marketing. Do I need to add a disclosure of some sort to all of this? I would prefer not to, but I do want to stay on the legal side of things. Please let me know what those of you have done with your marketing after getting licensed. Thanks in advance!!

Steve Buchanan I knew one of the Trump books would come up. I'll check it out.

Jeremy T. Brian Gibbons Thank you both very much! I will start there. I'm sure that will keep me busy for a little while, so I appreciate the recommendations.