All Forum Posts by: Evan Thoma

Awesome opportunity to make $200,000 in Profit on a rehab that's already started. 

Plans call for a 6 bedroom, 4 Bath with 3,600 Square Feet. 

Near the Clark and Wilson intersection, Uptown neighborhood

ARV $950,000

Repairs left: $180,000 - $200,000

Asking $545,000

Demo is finished down to studs, Plans and Permits are already received from Chicago (selling with property) so no delay in starting project for new buyer, Basement Digout partially completed and is ready for underground plumbing. See attached plans/permits for rehab.

Demolition is mostly completed, see pics. What's left for repairs is everything that follows in the plans. Email me for all of the photos (22 photos) and the approved city plans. The photos were too large to upload.

This property is in a historical district (the property itself is not historic). So the front of the property must maintain its look. The project was halted because of the delay in getting plans approved by the city/historic district which are now all ready to go.

Email me for all the photos and city plans: [email protected]

@Dominique Poindexter I sent you a message. If you have any questions please don't hesitate to ask. I always recommend shopping around. Especially if it's your first time getting a hard money loan. You'll find that when you have a good deal, the money comes racing to you! Best of luck!

@Amy A. Very inspirational story. I'm sure I speak for a lot of us when I say the first $100,000 is the hardest. Be sure to keep us updated as you grow your portfolio. While plumbing is simply never fun, realizing that you have $100,000 in passive income is a great thing to wake up to every morning. Not to mention that YOU built up this empire, no one handed it to you. You've already made some of the hardest mistakes so hopefully the next $100,000 is a breeze compared to the first. Keep up the inspiring work Amy! 

@Dave Meyer Great idea! Hope you get some good responses. BP has done so many things for so many people. 

Bigger Pockets,

Today we're offering 2 turnkey, recently rehabbed, properties on the South side of Chicago. The seller is only looking for Out of State investors/landlords in order to not disturb the current tenants. We're selling this property because even though they're good investments, turnkey properties are not what we focus on. 

#1: 9935 S Crandon

Fair Market Value: $105,000

Asking: $90,000

Monthly Rent: $1,375

Cap Rate: 9.3%

Monthly Cash Flow: $385.5

Cash on Cash Return: 17.46%

#2: 10782 S Peoria

Fair Market Value: $150,000

Asking: $130,000

Monthly Rent: $1,550

Cap Rate: 8.0%

Monthly Cashflow: $390.48

Cash on Cash Return: 12.84%

If you buy both properties I'm sure we can work something out to save you some cash. 

Feel free to email any questions to [email protected] 

@Wendell De Guzman

Thanks for the kind words Wendell. I can't stress enough how much the world opens up when you decide to go out and network. We can only learn so much by reading/watching. I'm super excited for what lies ahead. 

Hi Scott. Welcome to BiggerPockets. I know @Immanuel Price works with properties in NW Indiana. Best of luck with you endeavors!

Thanks for all the feedback guys and gals!

Hey everyone, 

So I was going through some emails and I found an interesting article about one of the lenders my company does a lot of work with. 

http://www.housingwire.com/articles/37383-guarante...

I've researched the 3.5% down load that requires one to live in a unit for 1 year. If you were to buy a larger investment (more units) would being required to live in it for 5 years, as this new loan seems to require, be a bad option for someone getting into real estate investment in their 20's?

I figure if it's a 4 unit building you can potentially cash flow or live very cheaply (< than $200 a month) for 5 years and then move on. 

I welcome any thoughts and advice! Thanks!!!

Welcome @Cristiano Botticelli. I can't recommend enough how helpful listening to all the podcasts and reading the blogposts can be.