All Forum Posts by: Martin Vehlow

Thanks @Brie Schmidt! @Kristi Wolfe, I'm very familiar with Lake & McHenry counties, and I'd love to see how I can help you achieve your goals! Sent you a PM as well.

All the best!

This is all really good info. In a popular market like I'm in, when deals come on the market, they go fast. Excellent communication, fast showings, and strong offers are key here!

@Emmy Sanz, seems wise! I would stick to a cosmetic rehab initially!

@David Davis, welcome to BP!

You definitely should talk to your attorney and understand all the legal ramifications of this. In some states, you need a RE agent license to do this. It will be well worth it.

Welcome to BP, @Emmy Sanz! Do you or your husband have any rehab experience? Do you have any friends who are contractors and could give you ballpark numbers? If you don't have any experience, I would leave this one to the pros. Foundation issues can be serious and affect many other portions of the house. You also have lathe and plaster walls, at least in that one area in the photo, and that complicates things if you want to do any electrical or plumbing work. I would steer clear unless you know exactly what you are getting into.

@Matt Moore, welcome to BP! This question is almost impossible to answer, because each market is different and real estate is local local local!

All the best!

@John Warren may be helpful on this topic!

@Preston Wormley, what are you trying to accomplish with said software?

Hey @Naeem Barbour, definitely look into portfolio lenders, they can be expensive but may be an option for your situation. Definitely vet them and do your research well before giving them any personal info though! 

One trick I've learned on BP is to search through the existing forum posts for the topic you are looking for. I personally like to google "biggerpockets" + whatever the term is I'm looking for. Many times the question has been asked already and you'll be able to quickly see multiple perspectives on some of these issues. (Not saying that is the case this time, just a general thought).

Wish you all the best!

Hey @Richard Harbison, they could get a personal private loan from someone they know (sphere of influence), or home equity loan, or if they are able to pay it back quickly keeping in mind the interest rates, credit cards. I'm sure there are other options but those are just coming to mind right now. None of these are recommendations or advice, my opinion only. :)