All Forum Posts by: Aaron Mikottis

@Craig Wilcox is a great resource in the Rockford area. He is an investor and an agent and he runs a property management company with his wife. He also runs a local real estate meetup that usually has an event every month - feel free to stop by some time!

Here is a link to the next one.

Sounds great, I'll be there.

Send me a message if you've got a property that matches the description.

I'll be there!

This is exactly the kind of event that I would love to jump in on. Unfortunately, my friend is throwing a party for his daughter's first birthday that day so I'm stuck to that commitment. 

Definitely keep me in the loop for future WIN meetups - I will be there. 

@Sarah Ziehr, yes, I believe that we are talking about the same thing. My banker is going to get back to me today on the specific rules and regs, but he thinks that they will work so a 2 flat. There are some weird things that they don't like, such as coach houses.

It was explained to me as a grant, not a loan. So long as I own the property for three years the money is forgiven. Perhaps I am wrong, though, what have you heard?

@Rob Krach - No, in the end it did not work. Apparently the regulations of the 203k do not allow you to combine it with the Home First Grant. My guess is that they want the owner to have some skin in the game. Anyone who tells you they can do it is pulling your leg or misinformed. 

After getting bids for the work I needed to get done, the total cost came in way higher than anticipated. After working around with a bunch of alternate options, I decided to back out of the deal. I just put an offer in on a different property yesterday, though, so I'm still pushing forward. I'll definitely share before and after shots when it comes to that!

@Sarah Ziehr - I am working with the Bank of England. The specific banker that works with me is named Anthony Fender. He's extremely responsive and I would definitely work with him again. If you'd like his direct line, shoot me a PM.

Depending on work, I might not be able to make it anymore - big deadline this Friday.

I'll be there as usual. See ya guys then.

@Nathan Waters, I posted a tutorial on creating a map like mine here, check it out:

https://www.biggerpockets.com/forums/521/topics/261268-win-january-meetup---rockford-il-area

Let me know if you have any questions.

Rehab is going bad, btw, thanks for asking haha. The bids all came in too high and the owner has stonewalled my access to the property to get rebids. The property will not appraise at the value I have under contract + cost of work bid, so I can not move forward. I just called my attorney today to send a contract cancellation request. It's okay, though, I'm interested in the idea of creating long term wealth, this particular property was just a means to an end. Now I'm back on the hunt!