Seek Mentor/Partnership near DeKalb, IL (Chicago)

[Dain Cook]

Hello BP,

I would like to partner with a seasoned flipper. I am willing to decrease my share of the profit for such services. I am located in DeKalb, IL and prefer to stay within a 50 mile radius, but willing to invest in the 50 mile radius of the Chicagoland area. 

I would be able bring a limited amount capital from a HELOC and other savings. Depending on the timing of a deal, anywhere from 10k (today) to 25k in a few months. I am establishing an entity with my lawyer/CPA and that will be realized by the end of Jan. 2019.

I have a good grasp of the numbers, evaluating deals, and I have many of the pieces of the puzzle in place in my brain. I am an experienced construction manager/engineer in telecom, I was also a tradesman in my youth, so the estimating, and working with a GC will not be new to me, but I am need of seeing the whole process play out. I know enough to lose my butt, and a seasoned pro willing to assist a focused "young" man get off the ground is what I seek.

The game plan I have in my head is to build additional capital to fund the BRRRR method. So, initially any partnership would be a pure fix & flip. Of course the market may dictate my decisions, but I would like to be able to complete 4 deals in 2020, and each year after that, with a ratio of 1 flip to 3 holds. If all 4 deals present a good fix/hold outcome I would do 4 holds. 2019, I expect to have 1 deal under my belt. After I create my LLC, I will begin establishing business credit with vendors. I should be in a good position to move forward when all of this plays out.

I appreciate any feedback.

Thank you, 

Dain