All Forum Posts by: Eric Williams

I was looking at spending around 40k. Not sure if that’s an average 

Hey, I want to convert my unfinished basement into an apartment but I’m not sure exactly how much it will cost. I need drywall, flooring, kitchen, and bathroom installed. I’m not sure what the square footage is but it’s a nice size basement. Any idea of the price range is for this kind of work?

I want to make some improvements to my property but I don’t want to pay expensive contractors. What are some good websites it can visit for reasonably price service

Funny wholesaling is considered “unethical” now that more low to middle income citizens are aware and taking advantage of an opportunity to become financially independent

I live in Chicago and I’ve been doing my research on wholesaling. wholesaling would have been a method for me to generate more income. It sucks to hear that soon a brokers license will be required. Now I have to figure out my next move🤦🏾‍♂️

Thanks Craig, At the moment I'm doing my research on wholesaling. Getting a property under contract with motivated seller is the next step for me come up with capital for future investments. I don't want to totally rely on the extra cash I have left over at the end of the month. I have a bad habit on spending my extra cash on nice restaurants and trips. kind of a budgeting issue... lol

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Chicago.

Purchase price: $210,000

I purchased my first property back in 2015. It's a 2 flat. I live in 1 unit and rent out the 2nd unit.

What made you interested in investing in this type of deal?

I figured it would be a great way to lower my cost of living because my tenant would cover the majority of my mortgage payments. Lowering my cost of living enables me to to save for future investments.

How did you find this deal and how did you negotiate it?

At the time my sister was a real-estate agent. She had access to the MLS which is where I found my first property.

How did you finance this deal?

I finance this first deal using an FHA loan. I also received a 203k loan which financed up to 35k for home repairs.