All Forum Posts by: Ken Jones

Greetings BP!

I am looking for a recommendation for a General Contractor who serves the south suburbs of Chicago (Calumet City, Dolton, South Holland, etc.) with experience working on fix & flip projects.

Any contractor referrals would be greatly appreciated..

Thanks, 

Ken

@Vincent Incopero does any of these smaller banks offer financing on smaller mortgages less that $20K? I have a lead on a property, but I don't have all cash however seller will accept financing. But I can't seem to find a lender who will finance that low.

Any recommendations from anyone would be appreciated...

Chris Low you dropped quite a few gems in your response. Thanks for the insight and encouragement. It's refreshing to hear others success story while working full time. I am not handy what so ever, so a GC is my best option.

Kuba F. Sounds like you have a solid system with your agent. If you don't mind me asking, do you have some sort of incentive In play (above and beyond the buy/sell commissions) for your agent? I'm not sure if most agents would go above and beyond the call of duty like that..

John Mathewson I would greatly appreciate that.

John Mathewson thanks for the reply. Finding an agent is a slight challenge at the moment. On one hand I have one that is very knowledgeable of the IL markets and is an investor as well, but currently not proven to be newbie friendly when it come to providing me with new listings and ARV's for certain areas. On the other hand I have a few agents I've met with who are just as new to RE as I am. The good thing is I like their hustle and drive to build their business, however I'm a little nervous about their experience with investors and accurately providing ARV's. I know the ARV can make or break the profit potential.

Polar Prutaseranee Do you include some type of contingency in your offer that will allow you to back out if the final walk thru with your contractor expose unaccounted repairs that screws up the numbers?

Greetings BP! I'm a newbie flipper and I'm looking for advice on: 1. What should I expect from my agent ( and vice versa) while looking to view properties given my full time gig. 2. What's the proper approach to buying and rehabbing a property while working a full time job. I have identified a general contractor that I have a good feel for and we've met and talked. Plus the quality of the work looks great. I plan to visit the project daily after work. But I'm not sure if that's too much? Not enough? Just looking for the insight from any of you who've worked a full time gig while rehabbing your 1st flip. Thanks..

Thanks @Gail K.. I will be sure to request a copy of the Police report for record.

Thanks for the helpful responses. This is a totally new experience for me with this type of event so I wasn't sure of the best way to handle it which is why I posed the question for some feedback from some more seasoned landlords who may have experienced such. They are good tenants so I'll chalk it up and get it repaired. Thanks again BP.