All Forum Posts by: Kalonji Mitchell

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.

@Thibault Levray PM me, as well. As a private money/hard money broker in Chicago, I have a great number of contacts to which I can refer.

Soji,

If you have anything on the South Side of Chicago or the south suburbs, please forward that information to me? My email is [email protected]. You can also PM me.

Thanks, in advance.

My email address is [email protected] if you want to reply privately.

I am a hard money/private money broker in Chicago. In lieu, I am always searching for capital for my clients. 

I currently have a client that is seeking a private money loan for a 6 unit in the South Shore area of Chicago. It's estimated value is $215K (but, I prefer conservative values of $190K). She is seeking $100K to finish updating a few units and to pay off the first position lien of $60K.

Points, rates, and other fees are flexible; we are looking for speed and she is willing to pay for such expedience.  

Thank you, in advance