All Forum Posts by: Canontone Smith

@Purple Floyd - Thanks. I appreciate the recommendation. Reaching out to them now. 

Hello BP. My partners and I have a contract on a property which has a tenant in place. We will be holding the property as a long term rental (and plan to leave the tenant in place). Can anyone recommend a HM company that lends less than 75k, for a purchase in Illinois? 

I am looking to connect with an investor that needs "boots on the ground" in either Southern California (travel to Northern California can also be discussed) or Nevada (Las Vegas area).

I do not have much capital, but what I do have is time, light construction skills, and am pretty good at figuring out solutions to problems.  

If you have need someone for any of the following, please let me know. My interest is in getting the knowledge and experience (but would hope that reasonable compensation can be negotiated).  

- View and photograph properties (or confirm comps)

- property clean outs

- change locks

- put up / remove for-sale-by-owner signs

- patch holes in drywall

- hang new sheets of drywall

- install security cameras

If you have any needs that are not listed here, let have a discussion about it. If it is within reason, I will find a way to get it done.  

Good Evening BPers, Can anyone recommend a Hard Money lender that is willing to lend 105k for a period of 6-months. I am looking to purchase a 2/2 Condo in Vegas that I will use as a rental. My plan to pay off the HM is to re-fi once the property has been turned. Regards, Canontone

Good After BPers (specifically those who have interest in Chicago), A fellow wholesaler has a 5-property package deal under contract. The properties are in Englewood and Roseland areas of Chicago. Though, I understand that not everyone is looking to do anything in those areas, I figured some are. Message me if you are one of the few looking for properties in those areas. I will provide addresses and pricing when we speak. Regards, Canontone

Brie, Thanks for your response. I understand that the property will go through probate and that it could be about six months. I guess one of her relatives told her she will have to get executor status (at a cost of a few thousand) in order to begin discussions about selling. She is trying to decide if it would be worth doing or if she should allow the bank to foreclose on it. Again, thanks for your help. Canontone

Good Afternoon Fellow BPers (specifically, those of you in the Chicago market), I know someone who is exploring options of exiting a property. The situation is a bit tricky: both parents (people on title) are deceased (the mother just recently passed), but the property was not paid off. The person currently living there is the daughter, who is looking for a clean exit (nothing out of pocket). Short of allowing the property to go to foreclosure, does she have any options? 4Bd / 2Bath 1650 SQFT / Lot size 10,000 Sqft Bungalow ARV ~ 160k Mortgage balance ~ 160k Monthly payments ~ 1260 Rental income in the area ~ 1850 to 2150 Located in Olympia Fields (Old Olympia Fields) Thanks in advance. Canontone

Good Morning BP, I am looking for some information and possible resources for developing a new home (2 or 3 unit building on Chicago's Westside - 3.5 miles from downtown). I recently acquired a plot of land (small lot, sitting between two existing properties). My plan is to add a two-or-three unit to it. Is there anyone in Chicago who could provide me with some information as how the process works? Specifically: - What do I need to complete prior to construction? - Do you have any recommendations for the "team"? (I.e Architect, City Planner, GC, etc). Any information would be appreciated. Thanks, Canontone

Originally posted by @Keith Saunders:

Eric,

It really depends on what the actual circumstances are.

This is why you need to do your research before sending letters. If the address is the same it can be for 1 of 4 reasons.

1. the spouse of the decedent is still living in the house (DO NOT send a letter)

2. the decedent was living with a friend or relative and does not own the home DO NOT send a letter)

3. Parent is the deceased, child living in home named as administrator of the estate ( Send a letter)

4. Administrator of the estate wants all information to be sent to the decedents address to make it easier to manage all the correspondence for the estate (Send a letter)

With all of these you need to do your research to find out all the answers to these questions. I have been doing this for years so it only takes me about 30-45 seconds on average to determine if I should send a letter or not.

Regards,

Keith Saunders

Keith, 

Do you have any advice on how someone would go about determining these? What tools do you use to determine if you should send a letter or not (in 30-45 secs)? 

Looking for a rehabber or funding partner to fund this awesome deal.

3/2 ; 1734 Sqft in Pahrump NV

ARV $150k (conservative estimate)

Rehab $10 to 15k (drywall and ceilings have cracks - might need some foundation work).

Asking $109k

Let me know if you are interested, and I will provide the complete address.