All Forum Posts by: Jerry Stanford

Welcome @Michael Valente!!

Sounds good. I plan on attending...

@Matt White...I was amazed myself. I called the brokers and flat out asked what was wrong with the property. I was told nothing except cosmetic things, like carpet and painting. 

@Matt White...I believe both. A couple of bankers I've spoken with are willing to lend but the criteria is still quite tight. Buyers(retail) I've spoken to are a bit more cautious about terms these days. I'm seeing quite a bit of new construction built around '07 timeframe that is going back on the market at discounts compared to what they were purchased for, sometimes 50%-60% discounts. 

I was actually having a convo similar to what @Paul Stout is referencing as far as the building I have seen.  I don't quite remember what area it was, but I do remember seeing a Wal-Mart on Route 41 near Route 30, which is still in IL but is close to the IN border. They may indeed be an exodus from Chicago with the property taxes increasing. I agree with the significance of building the Wal-Marts in North and South Hammond as I have seen the same trend in some areas on the south side of Chicago with the neighborhood Wal-Mart markets.  I don't see an '07 sequel coming especially with expectation of a bearish stock market coming. I think the lessons of '07 have been burned into people's minds and they are more cautious and conservative. 

Hi @Ryan Aydelott...where is the property located?

Hi there @Stephanie Reyes!!  Welcome to BP!!

Perception drives everything. Most people hear Englewood and immediately shrink back from fear as they do not know the area, only what they've heard. Englewood as a whole is a tough area but as @Mark Ainley noted, there are pockets, small as they may be.  That particular address is in a quiet pocket. Most of the foot traffic is passerbys and no one hangs out much. As @Steve Long noted, the key may be in knowing the tenant, if there is one or not, and the maintenance for the property. As @Crystal Smith noted, if there is no tenant, there may be squatters. If you're going to move on it, you will have to deal with some extras

@Sebastian Izquierdo...You've definitely come to the right place...Welcome!!

Welcome @Jim Miller!!  Good goal...