All Forum Posts by: Karl Smith

Right now I'm only looking typically in Chicago (city south and north side ) where I can find for myself or my investors a project with a 30% ROI or better.

I appreciate the input. It appears that using the option is going to better serve me needs.

Thanks

Thanks Russell. I do intend to get the property under control.  

Marvin thank you for the input. I think I may lean towards the option agreement.

Looking to wholesale 2 - 6 unit  properties ion the Chg area. The owner wants to sell them together. Both properties are C class, vacant and need full rehabs inside about $15-20k per door; kitchen, bath some wall replaced, replace some stolen copper pipes plumbing etc. We decided that we were not going to rehab these buildings but would like to wholesale them to an investor. I would like to know if I should use a  Option agreement or a Sales agreement to get control and then wholesale?

Thanks
Karl S.

I'm looking to wholesale 2 - 6 unit Chicago properties. The owner wants to sell them together. Both properties are C class, vacant and need full rehabs inside about $15-20k per door; kitchen, bath some wall replaced, replace some stolen copper pipes plumbing etc. We decided that we were not going to rehab these buildings but would like to wholesale them to an investor. I would like to know if I should use a LOI or an Option agreement to get control?

Thanks
Karl S.

I actually bought Marko Rubel's Foreclosure Investing System and like Matthews said it teaches seller financing.  I will say that I have bought my share of investing courses but his course is actually good.  It is in my opinion very complete as he talks about the subject matter in good detail.

There are still a few good value add deals in and around the Midwest including the Chicagoland market but I have to search harder to find them.  Along with some marketing I find I have to be more creative with my prospecting.

Have you considered other markets with someone on the ground like Illinois. The value adds do appear to be a little more scarce do to the market and increased interest in them but they are still available.   I'm looking at a smaller 12 unit property now that needs some updating, repairs and tenants.  It has really great potential.

Karl 

What is a "Burner phone" ?