All Forum Posts by: Scott Steffek

Masroor,

Take a close look at Indiana. I live in the Northwest Part,( Hammond, Merrillville, Crown Point), about 40 minutes from Chicago and do business in both states. The taxes are far below Illinois. There are many opportunities out here for B&H's and Flips, and we have properties for $40k  up to $500k and everything in between. That was a "run on" sentence, wasn't it? lol. Good Luck!

Paul,

I'm from Northwest Indiana and I have a couple of good ones I use. PM me and I'll do my best to assist you. 

Nancy,

No paperwork is required. Also, be careful what "words" you describe your business as. Here's an example: If you're getting a fee for selling a house and it will be paid out by the title company, do NOT put the word "Broker" on any and all paperwork. That can get you in deep "do - do!" 

Best of Luck!

Joel,

I could be way off base, but I would bet that the "broker" is a wholesaler. Deals like yours on the high end, will be given to other wholesalers. Sometimes many of them! So what happens is the first wholesaler might require POF for the package, because he wants to be certain that the other wholesaler(s), has a buyer with the funds. I see that all the time! I currently have a package of 70 homes in the south suburbs of Illinois and the "broker" handling it, did NOT require my buyers to provide POF. Only an NDA, to receive the Pro Forma.

Every deal is different, so I can't say for certain my analysis is correct. I would contact the management company and see if this broker is affiliated with the sale. Good luck!

KC,

I agree. The rents are slightly less than Illinois, but the taxes are dramatically lower. For the most part, the acquisition costs are also less.

Larry,

FYI. I have another investor in town for a close on November 5th. PM me and we can talk from there.

John,

PM me if you'd like to look into Northwest Indiana. We're about 40 minutes from Chicago and we have a lot to offer. The area is very diverse, regarding pricing and good cash flow for multi plexes. 

We have our own rehab crew, property manager and realtors for flipping.

Good Luck!

Vincent,

Areas like: Merrillville, Crown Point, Hobart, Dyer, Schererville, Highland, Lowell, Griffith and many other cities. Check them out! We have a great mix up here. Certain areas are excellent for B&H's and other areas for flips. The area is slightly higher priced than Indy, however, the CCR and rents are higher as well. Quite a few investors from Illinois are coming over to our side of the border from Illinois. I also have a rehab crew, property manager and realtor for flips. Good Luck!

Larry,

Stop by Northwest Indiana (Crown Point, Merrillville), while you're here. I'll show you what we have to offer. We have the entire team already in place. We're 2 1/2 hours north of Indy. We have great flipping properties and great B&H's. PM me for more information. 

Henry,

I agree with Adrien. You're just under the amount needed to do a flip in a fairly decent area. I would try to find another $10-$20k and start in Northwest Indiana. If possible, try to do as much of the work as you can yourself. That will save you money too. Good Luck!