All Forum Posts by: Kalonji Mitchell

@Ken Reed, I can assist you. As a broker of hard money/private money loans, I have a few resources that provide you with the funding you seek.

@Hal Cranmer, I just wanted to congratulate you on building your real estate business utilizing the Assisted Living strategy. Excellent call!!

@Jay Hinrichs maybe these lenders will be ideal targets for NPN's in a few months, LOL.

@Jay Hinrichs. I forgot about this post. A couple of years ago, one of my private lenders had a specific niche that he wanted to pursue heavily. I agreed with you, with regards to risk. He was relatively successful, but eventually agreed that risk was too great. Moreover, capital opened up and the increase of HML's that offered both purchase and rehab funding with competitive rates forced him to adjust his business model.

@Bill Gulley - Amen!!

As a hard money/private money broker, I have had the pleasure to build relationships with a number of investors. I am currently searching for Non-Performing Notes for any commercial property nationwide for my partners.  Minimal amount - $1M.  First position liens only. Residential pools, considered. 

I just Googled them. There is a new Ripoff Report post that features them. Although, that's not an admission of guilt, tread lightly.

Kumar, I would also ask @Brie Schmidt. She has vast experience and would certainly be able to give you some sound advice.

Tim, I can piggy back on @Account Closed's suggestion of Sean Jones as a Investor focused Realtor. He has plenty of experience on both the investor side and Realtor's perspective. And, he KNOWS Chicago well.

The specific location in Blue Island works well. That is, indeed, the safest part of Blue Island and an area where you will see the highest retention. Consider South Holland, Lansing, and parts of Calumet City. However, look at the property taxes for each prospective property - they can run relatively high and definitely have the potential to eat up your profits.

Being a fellow investor and native of the South Side of Chicago, I have seen deals in almost every neighborhood. If this is your first, I highly recommend reading a number of threads here on BiggerPockets regarding determining your real costs for holding (there more than just PITI - you have to consider vacancy, deferred maintenance, etc.). To @Ronan M.'s point, you really want to make sure that you have a strong management team. 

Good luck.