All Forum Posts by: Derrick Jordan

Greetings,

I need suggestions/assistance in determining the best route for financing a possible purchase.

I am looking at a property that consist of two buildings joined by a courtyard, that are in an area that is zoned commercial/residential. Building #1 is a commercial building converted to a 3000 sqft 2 bed/2 bath residential property. Building #2 is a 2000 sqft empty shell building that could be finished as residential, commercial or Mixed-Use.

Due to the uniqueness of the property, I was told by local lenders that I could not purchase using a residential loan.

Are there any loan programs that would not require a 20% down-payment? Building #1 would be owner occupied.

Any and all suggestions are greatly appreciated.

Thanks

Greetings,

I need suggestions/assistance in determining the best route for financing a possible purchase. 

I am looking at a property that consist of two buildings joined by a courtyard, that are in an area that is zoned commercial/residential. Building #1 is a commercial building converted to a 3000 sqft 2 bed/2 bath residential property. Building #2 is a 2000  sqft empty shell building that could be finished as residential, commercial or Mixed-Use. 

Due to the uniqueness of the property, I was told by local lenders that I could not purchase using a residential loan.  

Are there any loan programs that would not require a 20% down-payment? Building #1 would be owner occupied.

Any and all suggestions are greatly appreciated.

Thanks

Need assistance and advice on getting trespassing unwanted individuals out of my vacant property.  Previous tenants moved out several weeks ago. Property was locked and secured.  While cutting grass the other day my landscaper alerted me that someone was in the property and he was told by the individuals that they purchased the property via tax sales.  (Property Taxes were never sold) Returned to the property today with police officers and the locks were changed.  No answer. According to the Police Officers there is nothing they can do and I will have to take the matter up in court.  

What can be done?

Thanks

@Arturo Radilla  

I am looking for the same. I too have a 4 unit that will require new kitchens, baths and cosmetic updates throughout.  

Please let me know what you find out.

Thanks

@Baseemi Iqbal sent you a PM. Thanks

For Further information contact Deani Jordan @ (773) 406-1323

www.deanijordanhomes.com

Excellent opportunity to acquire this mixed use property that includes 3 additional lots. First floor office space has break area, washroom, and access to partially finished basement. Rental apartments, one on first floor in the rear and two on the second floor are in good condition. Renters can have access to the garage. Three lots included in this deal…lot east of the building and two lots on the west of the building provide for ample parking, new construction or expansion of local business. This is an opportunity that a business owner and/or investor will definitely want to see.

Greetings BP,

I am a fairly new investor and the problem I am running into, is finding a contractor to do complete or partial rehabs. It appears the housing market is definitely on the way up as all contractors seem to be quite busy at this time. Could anyone recommend a (great) contractor in the Chicago are.

Any refferals and/or suggestions are greatly appreciated,

Thanks

Thanks for the feedback.

I will make sure I do my due diligence and digging.

The Renters are current, and the systems are in decent condition. 

Greetings,

Like many, I have been following BP for some time now and I am ready to make the Real Estate Investment Leap!

I have been presented with the following real estate possibility and I am open to suggestions, opinions and/or advise.

Home #1- SFH is Brick 3bd/ 1 bth- 1100 sqft-2 Car Garage/ No need for Rehab-Currently Rented at $735 a month with long term tenants paying all utilities-Estimated Market Value $50K

Annual Taxes $500.00

Home #2-SFH is Frame 3bd/1 bth- 1000 sqft-No Garage/ No need for Rehab-Currently Rented at $600 a month with long term tenants paying all utilities-Estimated Market Value $30K

Annual Taxes $778.00

 Both homes are being offered as a package deal for 45K Cash. I am thinking of paying cash with the hopes of delayed-refinancing the properties or some other option to pull my cash back out.  These would be long-term hold properties.   

Any advise on analyzing the deals or suggestions are greatly appreciated.

Thanks