All Forum Posts by: Nathan Waters

Thanks for the information @Zack Karp.

@David O.,

Any contacts would be greatly appreciated. Thanks for the response. You're not the only one to mention Visio. I'm going to check them out as well. It will be 6 months in March so thats within my window.

@Dale Stevens

I own all of my homes in my own name. I haven't bothered with LLC's at this point. I'm thinking about going that route once I have these 2 houses refinanced.

@Rick H.

Unfortunately i paid next to nothing for these homes. 22K each. The rehab costs are more than the purchase price on one of them. So to realize the full potential of equity, I will need a more flexible lender.

Thanks to everyone for the responses. I really appreciate all of the feedback. I wasn't expecting this much response. Good luck to everyone. Happy Investing.

@Aaron Mikottis,

Well that sucks. Let me know how things progress. Just curious, what are the details of the property? Purchase price, estimated rehab cost and scope of work, financing for the deal? You can PM me details if you feel comfortable sharing the info. I might be able to help you with the rehab costs. I have a contractor that is very reasonable. However I'm not ready to share him until my two rehabs are done. I can't afford any more delays. Good luck and don't give up the dream.

I recently bought two SFR's in the joliet illinois area. Now that the rehab is almost done, I am looking into getting a loan on the properties to obtain cash for a new investment. The few traditional lenders I have spoken to require me to be on title for 12 months or will only lend the value of the original purchase price, not the ARV. I really don't want to wait until October to pull cash out of the homes. Neither house has a mortgage currently. Any tips or contacts on lenders that are more flexible?

@Aaron Mikottis,

I'd like to know how you get that info. Thanks. By the way. How's the rehab coming along?

@Eric X., Thanks for the information. I had no idea about Aurora. I was considering it for my next investment. I'll stick to joliet.

@Landon Thomas, Sorry I was unable to attend. Thanks for the invite. I work in the evenings this week. My schedule rotates from week to week. Sometimes from day to day. 

I am rehabbing two homes in Joliet right now. One is in unincorporated area which falls in the Will county jurisdiction. Both are single family homes. I have had plenty of visits from the health department and the land use department. Both inspections and verifying my permits are covering the work I'm doing. From my understanding, this "Special attention" isn't typical in joliet, only in will county. Its enough to make my general contractor never want to do work in will county again. I'm still on the fence. Its possible to get good deals, but the red tape is really setting me back. I'm a newbie myself and its a steep learning curve. If you have any other questions feel free to ask. And good luck @MAHESH RAMACHANDRAN.

I have a SFH that will be available for rent in the coming month. it has 2 BR and 1 Bath on the main floor. There is a finished basement with a bath and a couple of rooms. I am hesitant to call them bedrooms due to liability but they are finished. The house is in unincorporated joliet (will county).

Pass. I don't know for sure, but likely a pricey sales pitch. You won't get anything useful from their infomercial that you can't get here for free.