All Forum Posts by: Zoran Stanoev

For that price range, although technically you can get a multi-family property in Chicago, it’d be on the much smaller side. And i echo the prior comments about dealing with the city, not only in terms of pulling permits, but the prospect of rent control. Good luck

The new law does not require a license to transact your own real estate transactions. Wholesaling falls under the definition of a broker because you're not buying or selling for yourself. The new law can be confusing, even if you read it (@Greg Dickerson) and I can see why you would ask.  Good luck with the letters.

the location details in the original post do not appear in the post when using the BP app.  I have to use the website for it to be visible (but now with the edit, it's visible).

How much longer till the lease ends? If she's getting close to the end of the lease, you do have the 3 month security deposit as somewhat of a cushion (consult with your attorney).  If you're close to the end, maybe just grin and bare it, and lesson learned.  Otherwise, it doesn't sound like there's a single positive from the situation, other than you kinda feeling bad for her.  One note, if she's a single mom with three kids, I'm guessing the judge will give her extra time to get out, so I'd maybe add a few months to your attorney's guess.  Good luck

@Bruce Gibson

If your strategy is going to be wholesaling, your exit is selling your contract to a cash buyer. I don’t think you can offer much else if you’re only going to be wholesaling.

Are you planning to use a different strategy other than wholesaling?

How long have you and your team been operating?

@Kyle Brose

Are you attending? Let me know if you’re looking for a ticket. I have one i need to sell

I’m selling mine as well for 700. Message me. Thanks

@Nick Radjabov

It is. I sent you a message

@Bruce Gibson

Can you clarify or explain your question? If you’re wholesaling a property, you don’t need any funding because you’re using the end buyer’s funds.

Have you looked into the AirBnB model where you basically find someone looking to rent out an apartment or home that you AirBnB? It doesn't require a downpayment other than what it costs to furnish the place and then you can make some monthly cashflow.  Otherwise, I would have to agree with Taylor above, you need to change your mindset about using other people's money. Think of it as selling an opportunity rather than asking to borrow money. Good luck.