All Forum Posts by: Patrick Roob

Hey everyone!

How are you? I am currently in need of a new Loan Officer, could you help?

I am located in Round Lake Beach Illinois, and am looking for someone who is in Norther Illinois, or the Northwest Suburbs of Illinois to work with. Additionally, I am very interested in someone whom has worked with other investors and may have experience with construction/remodeling loans.

Currently, I have an FHA on a four-unit, and am looking to purchase a SFH with a construction loan as a value-add. However, I closed on my FHA roughly 7 months ago, and my previous L.O. cannot help on this loan, as it has not been a year which has passed since my last closing. However, they have advised that other Loan Officers many times do help on the second loan, but their policies will not allow it.

If you, or anyone you know, can offer me some assistance in a very good Loan Officer to work with in my area, I would GREATLY appreciate it. In efforts to trigger some Keyword Alerts for other investors near myself, I have added a list of surrounding towns below.

Keyword Alerts: Gurnee, Waukegan, Grayslake, Round Lake, Round Lake Beach, Mundelein, Libertyville, Lincolnshire, Vernon Hills, Lake Forest, Lake Bluff, Deerfield, Arlington Heights, Wheeling, Buffalo Grove, Palatine, Schaumburg, Crystal Lake, Cary, Pleasant Prairie, Kenosha, Racine.

Thank you so much!
Patrick

Hey everyone!

How are you? I am currently in need of a new Loan Officer, could you help?

I am located in Round Lake Beach Illinois, and am looking for someone who is in Norther Illinois, or the Northwest Suburbs of Illinois to work with. Additionally, I am very interested in someone whom has worked with other investors and may have experience with construction/remodeling loans.

Currently, I have an FHA on a four-unit, and am looking to purchase a SFH with a construction loan as a value-add. However, I closed on my FHA roughly 7 months ago, and my previous L.O. cannot help on this loan, as it has not been a year which has passed since my last closing. However, they have advised that other Loan Officers many times do help on the second loan, but their policies will not allow it.

If you, or anyone you know, can offer me some assistance in a very good Loan Officer to work with in my area, I would GREATLY appreciate it. In efforts to trigger some Keyword Alerts for other investors near myself, I have added a list of surrounding towns below.

Keyword Alerts: Gurnee, Waukegan, Grayslake, Round Lake, Round Lake Beach, Mundelein, Libertyville, Lincolnshire, Vernon Hills, Lake Forest, Lake Bluff, Deerfield, Arlington Heights, Wheeling, Buffalo Grove, Palatine, Schaumburg, Crystal Lake, Cary, Pleasant Prairie, Kenosha, Racine.

Thank you so much!
Patrick

Hey everyone!

Thank you very much for reading my post! I have a situation needing to be addressed, and am hoping you can help with my plan of attack.

I recently purchased a four-unit rental in Round Lake Beach, Illinois in Lake County this past March. Before closing, I had noticed that there was a large pothole in front of the driveway, and damage to the skirt of the driveway, however in the past 6 months it has grown drastically worse. Long story short, this property is on the corner of a heavily traveled road and one of the towns main roads. That being said, there are constantly automobiles driving past while hitting the pothole in front of the drive. Although I have not received a professional quote, I have been told by a couple subcontractors that the vibration in the ground once the pothole has been run over is causing the driveway to break down.

I know I just purchased this property, and some damage was already present during close, however, is there anyway for the city to pay for this? If so, how? Due to the condition of the road, my driveway has suffered the constant abuse and damage over time. I have attached photos for reference, and would absolutely love your feedback. Additionally, listed below are a few different types of automobiles I have seen run over this pot hole.

Car, Truck, Ambulance, Fire Truck, Police Car, Landscaping Trucks with Trailers, Delivery Trucks, Maintenance Trucks, Dump Trucks.

If you, or anyone you know, can offer me some assistance in having this issue addressed, I would GREATLY appreciate it. In efforts to trigger some Keyword Alerts for other investors near myself, I have added a list of surrounding towns below.

Keyword Alerts: Gurnee, Waukegan, Grayslake, Round Lake, Round Lake Beach, Mundelein, Libertyville, Lincolnshire, Vernon Hills, Lake Forest, Lake Bluff, Deerfield, Arlington Heights, Wheeling, Buffalo Grove, Palatine, Schaumburg, Crystal Lake, Cary, Pleasant Prairie, Kenosha, Racine.

Thank you so much!
Patrick

Hey there @Ryan Canfield!

The homes out here are definitely affordable, that's true. If there's anything I can help with, let me know.

Patrick

Hey there @Ryan Canfield!

The 4-unit is in Round Lake Beach, and I like it a lot! It's certainly a blue collar neighborhood, and lower income rentals, but as long as you buy right, the cash flow is there! I have not had any issues with tenants, rent payments, crime or safety so far! The only caution I would mention are the Lake County taxes! Although I am cash flowing well, my taxes are killer. With a 16% tax increase this year, bringing my taxes to $14,700 on the 4-unit, I am reconsidering my target areas for rental purchases going forward.

Buyer beware!

Thanks,
Patrick

Hey there @Zach Hubert-Allen!

Here is a list of some of my favorites! All of which I have found very helpful..... Of course many more are great as well. I would advise just start finding BP Podcast titles that interest you, and press play. If 20 minutes into it it's not serving a purpose for you, go to the next.

188

185 - Great info on how to make money, while giving back, Rent-to-own.

142 - Great tips for beginner 

074 - Seller financing

128 - Foreclosure investing

121 - Building a RE business

120 - Analyzing deals

094 - House hacks, partnerships etc.

062 - Managing tenants

051 - Multifamily investing while working

037

020 - Mistakes to avoid

019

006

Let me know what you think!

Patrick

 Will do, thank you!

Hey there @Daniel Hyman!

Thank you so much for the referral, I truly appreciate it. I will check him out!

Thanks again!
Patrick

Hey there @Aleksandrs Vilumsons!

Congrats on looking to take the plunge! I definitely agree that a multi-unit for your first primary residence is a GREAT way to start. It's very exciting to know that not only am I no longer throwing my money away on rent, but all of my living expenses are in fact taken care of entirely, allowing me to save at MUCH larger numbers towards my next bigger purchase.

Stay in touch!
Patrick

Thank you @Ryan Cameron!