All Forum Posts by: Asif I.

Great transformation @Mitzi Castiglione how did you find the property? In a tight market that's the hardest part I guess!

@Alex Bok sure, let's have a quick phone conversation and then we can take things from there.

@Tim Jensen Since I am planning to be actively involved with the properties, I am initially exploring properties within 45 minutes driving distance from Schaumburg. Let me know if you have properties in the North West or western suburbs.

Have you looked into private money lending?

@Garland Robinson are you still finding off-market properties. If yes, I would like to connect and see how we can do business together.

Way to go @Nathan Waters! Looks like you have recently started. Can you share your deal criteria and what deal acquisition strategies are working best for you? I am mostly looking for deals in MLS but haven't come across good ones lately.

@Aj Puthillath Have you looked into the pros and cons of investing in Illinois, Chicago North West Suburbs?

I am planning to start acquiring rental portfolio of SFR in and around North West suburbs. I have a full time job which pays well and would want to build a portfolio of cash flowing properties for long-term wealth building and "passive" income. Would like to see perspectives from fellow investors on the following:

1. Is Buy and Hold a better proposition in Chicago city compared to suburbs?

2. Are multi-family buy and hold investments better compared to SFR?

3. What are some of the best ways to acquire great Real Estate deals in the current "HOT" real estate market?

4. Should an investor wait for the market to "crash/correct" to get those great deals?

5. What are some of the best ways to find great property managers?

If you have similar goals, I would like to connect, please send me a message!

If you are a wholesaler or have a means to find buy and hold real estate deals in and around north west suburbs I would like to connect with you, send me a message. 

They way I do my JVs are as follows:

1. I bring 75% of the down payment needed, my JV partner brings 25% of the down payment needed. I take a loan (HML or conventional) and my JV partner manages the project and exit (Rent-to-Own or flip). We split net profit 50-50.

2. I bring 100% of the down payment, my JV partner takes the HML manages the project and exit (Rent-to-Own or flip). . We split net profit 50-50.

Hi Maria - I use the following ballpark estimates when I am submitting my offers:

For fix and flip properties:

–50 dollars a square foot for gut rehab

–30 dollars a square foot for cosmetics

–15 dollars a square foot for great condition

For rental properties:

–Reduce the above value by 30%

›If comps have finished basements add that in the sq. ft. of repairs (usually add 1000 sq. ft.)

The above repair estimates are just to have estimate whether a lead is a potential DEAL

I use a detailed repair estimate calculator during inspection period. Send me a message if you would like to get a copy.

Hope this helps!