All Forum Posts by: Angelica Osusky

@Sherita Owens my attorney is @Vincent Incopero and he's awesome!!! Wouldn't use anyone else! Definitely recommend reaching out to him. Best of wishes on your deal.

Hi everyone,

I conducted my first flip by myself in illinois and I am in the closing process. Just got news IHDA grant is being denied because the HOA is running an overall deficit. Not necessarily in the red but they do not have a large reserve. With that being said, that's roughly 7500 in loss money that will need to be made up.

Does anyone have any advice, suggestions, or ideas as far as mine and my buyers options? I know I can relist the property but I really would like to try and work with this buyer because it would be quicker close with them vs relisting and going through the closing process again with a new buyer. We already had appraisal, home inspection, etc.

Thanks for any input in advance!

A young motivated seller recently reached out to me. She is looking to sell her home asap due to a bad break up. It is a 3bd 1ba small ranch home they bought it last year for 120,500 & have a balance of around 80k left. I am going to look at it next week. I am unsure of the current condition of the home as she does not live there anymore and told me her ex is 'trashing' the home. She said they are both willing to sign the papers. She did state she would like to get a little more than the loan is worth but understands I need to make money also.

Any advice on things I should make sure I do, ask, say, etc when I go meet with her and see the home next week? I am a new investor so any advice would help! Thanks in advance:)

@Jesse Stemle  Have you read The book on house flipping by J Scott? I would definitely suggest it if you haven't. I wouldn't necessarily suggest going to 100s of open houses. You can but with the technology you can get the same information by looking up properties online. I would suggest however to analyze a ton of deals by using the calculator on BP. They're awesome. Flipping is a numbers game. The calculators will allow you to become familiar with the calculations and allow for you to understand if it is a good deal or a bad one.

@Jay Hinrichs I think what you are doing is AWESOME. I hope once I am an established investor I can do something similar and give back. Have you ever seen the show extreme home makeover? My mom and I used to always watch it when I was younger and it was so touching. I would love to one day give a home or rehab a home for a family in need! & Hopefully, I can make it a reoccurring tradition like you seem to be. Really, kudos to you. Giving back and helping newbies... So so awesome!!

@Stephany Trombello Thanks for the recommendation!

@RJ Reynolds No one did mention this. Thanks for the suggestion. I definitely would like to look into their training. Thanks again.

@Damian S. Would you mind sharing the name of the brokerage?

@Gonz Trevino I am just now realizing I failed to reply to your post. The link you provided earlier was very interesting. I shared it with my sister who is thinking about moving to Texas! I am not married to the idea of Illinois at all. It is freezing here right now, I would prefer the warm weather, however, I just never been to Texas before. I guess I need to visit soon! Thanks for the insight again.