All Forum Posts by: Fernando Angelucci

Hello BP!

I am looking for a reliable, timely, and efficient property management company for my south suburbs Chicago portfolio. Any recommendations would be greatly appreciated.

Cheers!

@Account Closed

Shoot me an email and I can connect you with a more lenient lender.

Ahmed Motiwala is the man, btw.

He does all my short sale deals.

Cheers!

Hello @Nikki Kofkin

Shoot me an email with deal details and I can connect you with my lender.

He is great and has an annual pipeline of ~$1.8B with over 40 loan products.

Cheers!

Hello Tisha!

Can you send me the marketing flyer on this deal?

Cheers!

Hello @Saeid Safarmehdi

Give me a shout when you get to Chicago.

Cheers!

Hello @Melchor Domantay!

We have been wholesaling in the western suburbs for the last 4 years. I grew up in Westmont and am hyper familiar with all of DuPage County. We now wholesale in all 7 counties of the Chicago MSA.

Let me know if you would like to jump on the phone or on my buyer's list. I can also provide you references that have worked with us in the past if you would like to speak with them.

Cheers!

@Russ Fry

Chicago is so massive with such diverse neighborhoods that you can employ any exit strategy here from flipping, renting, Airbnb, etc.

Cannot talk about a city of 3M in general terms. The MSA is 9M.

Best to specifically ask about neighborhoods (ex. is Lakeview a flip or rental area)

Cheers!

Hello @Lana Lee!

There is no such thing as a newbie question except the question not asked.

MAO = Max Allowable Offer.

You usually start by offering a little below your MAO to allow for for the seller to negotiate you up.

Cheers!

@Meghan McCallum

Can you put me on your guys mailing list for updates on when and where meetings will be held?

Cheers!

Hello Ethelyn!

Congrats on getting started! Can you put me on your buyer's list?

If you ever need some help feel free to give me a shout.

I have found that negotiated off-market flips with a seller finance approach has worked very well for me as well as for investors who leverage their flips with hard money.

Here is an example:

Say for the area you are in you use the standard MAO = ARV * 70% - repairs. What I have been doing to beat out other investors is asking for 12 month financing from the seller if I put down 10%. To hush their fears I tell them, "I am going to pay interest to a bank, why can you get that interest and make even more money. I will put money down, pay you interest every month, and improve your property. The best case for you is if i actually default because then you get your property back in better condition, keep my down payment and interest, then list the property yourself."

This strategy has worked well for me and allowed me to beat out other competitive offers. For seller finance, since most volume flippers pay 8% - 12% plus a point or two for financing, I changed my formula to the following:

MAO = ARV * 75% - repairs

But I make my offer as such:

Offer 1: Cash

Offer 2: You will receive a total of $$$$$ (MAO + Interest) over 12 months.

Cheers!