All Forum Posts by: Jeff Valentino

Oh, some hotter parts on the south side of Chicago are Auburn Gresham, W Pullman and Washington Heights.

Thanks @Mindy Jensen !

Hey there @Ryan Boren. I work mostly in the South Suburbs and have some partnerships for the city itself. Chicago is really landlord friendly, so I recommend if you are newer to really understand the laws before investing there.

Good news is in Park Forest you are near some good areas in the South Suburbs. It kind of depends on your risk tolerance and goals. Tinley and Oak Forest are great for fix and flips and rentals. Homewood, Hazel Crest, CC Hills are too. I own some rentals in Matteson that perform really well and have partnered on some flips there as well. 

I stay away from Park Forest myself. It has some of the highest levels of inventory in Chicagoland, so I find much better deals just a few minutes away.

I'm in these areas almost everyday, so if you have specific questions let me know. Good luck!

Hey there @Mike K.. I'm familiar w this building (I'm a broker in Orland). Unless I missed it, are you accounting for taxes? They are extremely low right now because they have homeowner exemption, senior exemption and senior freeze. Tinley can be brutal for taxes-some 2 units have 9k + property taxes!

If you have any other questions, let me know. I look at at lots of these.

Good luck!

Jeff

Sorry I missed these replies!

It sounds like @Kumar Paj @Jay Grabbe and @Jay Bhatt have some good options in this thread. If you need anything else please let me know!

Let's connect, network and find ways to solve problems and do more deals! If people want to bring specific deals, or questions for the group that may be fun and helpful. We can get stories, lessons and perspective from each other before breaking into networking.

These meetings are designed to be 100% networking. We will have short introductions and are looking for new and experienced people from every part of the real estate investing business.

You can join the group on meetup here.

See you there!

Jeff

Hey there @Garr Ett.

Are you talking about a rental or sale?

As an agent in my market, I really market a property hard for the first 2-3 weeks. If things aren't moving, I suggest lowering the price during the 3rd week. Then re-vist 3-4 weeks. 

 If you can tell me more about your situation I can try and be more specific if you'd like.

Good luck!

Welcome to BP @Jim McColgan! Ton's of good stuff here for you to learn.

For a HML you can reach out to @Bob Green to see if he can help. I also know some more traditional lenders, so let me know if you want a referral.

I also host a monthly meetup with investors mostly from BP. You can join that group on meetup here or watch the events board on here to get info on our October meetup.

Happy Networking and Investing!

Jeff

Welcome to BP @Angela A.! 

You're in quite the situation but I would say put yourself in the lenders shoes. You have no experience, no money and poor credit. I don't know any lender that would loan money in situations like that.

Try to get seller financing and or partner on the deal where you can do a rent to own from them while you get your credit worked out. If it's actually a deal that is.

There's a good guide to seller financing here.

Good luck!!

I really enjoyed episode 192 of the BP podcast. Many of the nicer areas I work don't follow the traditional rental rules found on BP. This episode gives some great reasons how higher rents, better tenants etc, in areas likely to appreciate can build wealth...even if they don't appreciate. 

Thanks guys!

Hey there @Payton Gonzales. I suggest networking here on BP in some of the local forums. If you are where you plan to invest, go to investing meetups and REIA's.

Make sure they invest themselves or at least are on the same page as you re: returns, ratios etc.

Good luck!