All Forum Posts by: Andrew Oladipo

Two flips back-to-back!!! Nice job.

@Mark Ainley

It is in the New City/Back of the yards neighborhood. Thanks for the link. I did look into that awhile back, but did not understand much of what was listed. Prop address is 729 w 50th street, if you won't mind reviewing and providing your insight. Appreciate your input! You can be blunt with your recommendations...I welcome such.

@cliff mccue. Our plan is to be patient and expect some challenges. We hope the end will justify the means! We bumped up our rehab budget a bit, but I still fear for possible cost over run. My partner has some experience dealing with contractor, so we hope that will come handy. I know my choice of word ("hope") might suggest no homework was done, but we actually did some homework.

@crystal smith. The building has two wings. Each wing has two units. We are buying a wing is what I meant. Each wing has a separate pin and address, hence the violations are unique to each address. I appreciate your comment

Congrats!!

Thanks Jeff! I will be diligent. We have it under contract now and have instructed our attorney to pay special attention to pending litigations, violations, outstanding bills etc. One other thing I should have mentioned, is that, the seller appears to have acquired the prop through a foreclosure. Should I be concerned about this? My old school nature would expect him to rehab rather than flipping it...I guess things happen right?

I am working on a possible partnership to acquire a foreclosed property in the city of Chicago. Both of us (my partner) have no experience with foreclosed properties or dealing with the city of Chicago. Said property has some violations and will require a complete rehab. Our plan is to rent it out upon completion. The building has two units. Each unit has two 3 bed 1 bath. We are going for one of the two units. I will appreciate all advise on what to look out for. Thanks Andrew

Inspiring!!! Thanks Brian

Still working a W2, but increasingly believe it is possible. Two offers got rejected....I must be doing something right. Working on adding a second property to our portfolio. Andrew (Carol Stream IL)

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