All Forum Posts by: John Weidner

@Jimmy Hong Awesome! Congrats!!

id start farming South if you haven't already is what I forgot to add

What neighborhoods are you looking at in Chicago. N and NW side is tough right now there is low inventory and little profit to flip

Id also get your RE license if you don't already have it

$600-700 having a guy do it as a side job. $1000 for a licensed plumber

This is Chicago pricing. Includes cost of the heater, supplies and 2 hrs labor

@Wendell De Guzman

What I like about this post is 2 things:

1. Your looking at the deal and covering a wide geographical location. Very open from $1M house to sub $100K

2. You know when to exit when the #s don't work. Trust the #'s don't massage the #s

Do you put your own offers on the HUD properties or are you using another Broker? I'm not seeing much HUD properties in the areas I farm.

It's a big city (over 200 sq miles) so there are lots of submarkets you need to be aware of. I personally switched my model from landlording to flipping but there is good opportunity still in Multi Family.

@George Paiva

I tend to be averaging 8-10 wks involving a full interior remodel including kitchen and 2 - 2.5 bath full guts, interior flooring,doors and trim, paint and any infra improvements like electrical, plumbing, roof windows and landscape

I run the GC on interior separate from the roofer and exterior guy.

Some guys move quicker but this is where I'm at for about 2000 - 2500sq ft finished.

@Charles Wheeler you need to get on title and refi the loan conventional . That's the only way I see it since it's FHA

not my case....I have 1 bldg metered in Chicago and am averaging $75/month for a 2 unit.

My own house Single Family I'm averaging $40 per month

Biggest thing besides cost is you'll need to identify yourself as a licensed agent in all your transactions and when dealing with the Public. There are a lot of formal rules you'll need to follow.

I got my license so I could save on commission and farm the mls. Also run my own schedule ...I open my own doors and don't need to wait for another agent to let me in.