All Forum Posts by: Ken Jones

Where will this meet up be held?

I'm in a similar situation as well and would appreciate hearing what options you propose as well @Nghi. Thanks.

Look into Top Line Fence. They did an iron fence and a wood gate for me. I was satisfied with they're work.

This is an excellent question as I've started this year as well and used personal savings.

Jay Thomas Lima One and lending home are two HML that I've used for my first 2 deals in Chicago. And they're new investor friendly.

Aaron Byler have you considered a home equity line of credit?

Thanks for the reply @Brian Pulaski. He appears to want out of the house. He would like to do the rehab work if I buy because we've developed good business relationship thus far on my current flip. But either way, he needs to sell it. And I would definitely get multiple bids.

Good Morning BP! I have an off market deal that has been presented to be by my GC who is finishing up a flip for me on the south side of Chicago. Its a single family home located in Zion, IL which is about 1.5-2 hrs away from where I live. It is his property and he is motivated to sell it. He is proposing one of the following: 

a.) asking $28K for the property purchase and he says it needs about $80K worth of work for a flip (which he'd like to do the work if I buy it).

b.) bring $12K to the deal, do a joint venture, he'll do the work, and we split the profit of the sale

I'm in the process of finishing my first flip and I've never been approached with such a scenario and I have no knowledge of the Zion market to know if this is a good deal. I'd like any feedback on the best course of action. In addition, I'd like to connect with any investors and/or agents in the Zion, IL area to get an idea of sales and price points in Zion. Any other suggestions would be appreciated.

If you properly screen your prospective sec. 8 tenants, you should be ok. As a first time landlord 5 years ago, I paid an agent to screen and put a tenant in a SFH. To date, I have had no issues. I do annual inspections and for the most part, the tenants maintain the property as if they own it. And their portion of the rent is in my account at the same time every month and have not made a late payment in 5 years (hope I didn't just jinx it. Lol) But despite how some perceive section 8 tenants, there are some good people who respect the program and the properties they occupy.

@Melsi Bifsha I'm interested. Is this property still available?