All Forum Posts by: John Weidner

@Tony Castronovo

Personally my models always are built slightly on the side of caution for Comps.  Im a Broker but I always run conservative.   Anyway working for free sucks so I think the next one you will make your money back. 

you learned on this one.  But no one likes working for free, don't do it again 

2 points - you have to know your repair costs and be solid on those #'s and you have to know the comps.  If

you don't have these solid, don't proceed on the deal or you could be working for free very easily or lose money 

your GC doesn't have a source for cabinets?   if he is recommending a big box or ikea I would start looking for a new GC

Be prepared for a ton of phone calls and "stop by's" in the process if you involve them in the front end 

Nice staging. 

Where does it say you are investing?  You stated you wanted to Wholesale in Chicago not Invest.  

My comments are purely in respect to your wholesale business model in Chicago operating from Australia.   Which is a terrible idea.   

in Chicago you can only GC owner occupied units without GC license and you can never do your own electrical unless you are licensed electrician and have Chicago license 

@Nino Alfano

$7-8K...Must be a small kitchen 

@Heather Shannon

GC status in the City of Chicago is easy to get.  Application fee and insurance.  Anyone can get it.  

What's the scope of this rehab?  Just kitchen and bath remodel?   I disagree that you "Can't" GC your project.  It basically comes down to how much time you have and your relationship with Subs.  

Let's see 

You are about a 30hr trip maybe 24hrs of flight time from Australia to Chicago

 You can't know the market enough not being on the ground to accurately value properties. Value in Chicago can change by blocks.  Blocks not Miles.    You have to know your farm.  You can't possibly grasp this being in Australia.

Your trying to wholesale on top of this not just invest.  

I'm trying to save you money by telling you this business model is a bad idea.   

Your wholesaling properties in Chicago yet you live in Australia.  I can't think of a worse idea.  

How do you expect this business model to work?  

If you continue then in your case you need to pay a home inspector about $350 to give an assessment.  No contractor is going to give free advice when they hear this business model