All Forum Posts by: Bryan Balk

If you say your going to close with cash you can finance the deal anyway you want you don't need to notify the seller reo or otherwise. As long as your 100% positive about your financing you should always say your paying cash and waive the mortgage contingency it makes the offer a little stronger. The cash/finance only affects the mortgage contingency in the contract.

Don,

I work a lot around 88. I rarely go that far west on 88 but if your looking for anything around Aurora to 290 let me know.

Paul,

I work for a flipping company in Chicagoland area. I currently have a 2 unit available in Elmhurst. We own it but do not have possession yet. This is in a great area and will be a great investment. Give me a call some time and we can talk about what kind of goals you have and how we can achieve them. FYI we do most of our business in the suburbs but we do a little business in the city. I just got a call from someone with a 3 flat that is fully rented, hes getting $2,400 a month in rent but owns the property free and clear and wants cash to start a business. This property is not in a great area and is not something my company is interested in. The cash flow looks great but the management cost, vacancy and maintenance will be high.

I think if you could share the article it might help people understand what you are asking and how they got there.

If you have the POF you could always borrow the EMD from someone.

But obviously if these people are making 400K a year they have the money for a EMD.

We currently are working on around 70 flips anywhere from just acquired to currently listed. I am not the principal of the company but am in charge of the acquisitions department. We currently have 9 employees plus countless number of contractors and always looking for more if anyone knows anyone working in the Chicago land area. We are always buying with cash if anyone has any deals in the Chicago land please send my way.

Illinois at least is a record state. So the title company legally can't sell it to the C buyer until your Deed is recorded. So you have to fund it obviously to get the Deed in your name so you can then sell to C.

And you can assign REO's just sell the buyer the company that holds the contract on the house.

Chris,

I know him, he loans us hard money. It was a joke because if hes spending money at the Auctions thats less money for us to borrow from him.

Starting out google docs is free that will work just fine. If the business takes off then maybe look at more professional programs.

Stick to your day job! Give us more money worry less about condos in the city and fighting with RDG.

Good luck.... FHA doesn't have seasoning anymore.