All Forum Posts by: Scot Howat

I flipped a property in Romeoville last year.  It's a good area for flipping.

340 Macon Ave, check it out.

I live way up north, but I'll still check there every now and then.

I've probably talked to 100 people that say they're going to wholesale.  99 of them never do a deal.  And everyone I've said that to, thinks that they are the 1% that will survive. 

It's the most amount of work for the least amount of money.  Finding deals is the hardest part.  I'd recommend doing a rental for your first deal.  It's way easier, it's more forgiving if you make mistakes, and it'll help you build long term wealth. 

Personally, I believe wholesaling should just be an exit strategy. 

Sometimes free advice is the most expensive.

Just get out there and hustle.  Don't ever give up, and you'll make it.

Welcome!  Don't wholesale.  Do anything else.

Good luck!

There's plenty of ways to do that, just read Brandon Turners book. 

I'd say the best ways are for JV, or private lenders.

Welcome!  Elgin is an interesting spot for properties, such a wide variety of prices and styles.

I was just out there on Wednesday actually.

Good luck.  BUY, FIX, SELL!

The UW should not have seen the home inspection.  Someone dropped the ball there.

But I hate to say it, this what you get when you deal with FHA buyers. What's happening to you is completely ridiculous, but there's a lot more red tape when dealing with them.

You may want to have a preferred mortgage company ready for your buyers.  Find someone good and try to refer the buyers to him/her.

House hacking is always good.  But I'm not in an area where multi families are available.  You're on your own there.

But it sounds you're kicking butt and taking names.  Just keep doing what you're doing.

Very nice job!  So you have four 2-units correct?  That's great.  Make sure you spend some time on your personal finances to get your bills/obligations as low as possible.  Then figure out how much passive income you need before you can quit.  But it sounds like you're on your way there quickly.

You just have to be committed to doing the business no matter what.

Otherwise, don't waste your time making an offer.