All Forum Posts by: Franko Shenault

Hi BP!

We have a vacant, buildable lot in south shore Chicago located next to a building we own and manage. Im looking to partner with an architect/developer to draw plans for a new 2-4 unit multi family building on the lot.

Any recommendations to someone that would be interested in hearing more or a potential partnership, please be in contact!

@marcus auerbach That's one thing i learned during this process! But it made us more comfortable knowing the legal guy told us we were all good!

Thank you all! Found two great referrals

Kenosha

Hi All!

Wife and I got our first out of state rental property under contract and now we are looking for a licensed home inspector and attorney to partner with in the state of Wisconsin. Any good referrals from the community??

Thank you already!

That makes sense Wayne. Im more interested in buy and hold rental properties so I'm not so much worried about the fees for future closings. Being able to offer cash purchases and quick closings on the properties were finding puts us in a position to be more competitive in the Chicago market.

Thanks for the response Kevin. Im definitely not opposed to conventional, it's more that we are competing with cash offers and quick closes. We'd like the opportunity to close more deals quicker by using cash offers.

Hi All!

Looking for help to purchase two (2)-unit multi family properties in Chicago. We would like to purchase both of them as a package under the same loan and not do two separate transactions. What are a few creative ways the community has made a package purchase? Private money? Seller financing?

Thanks, Franko

@Kelly Claiborne My wife is a travel nurse which is contracted based work that pays well. To lenders (at least the ones she's spoken to) they say she has inconsistent work history although she's consistently been employed for 3 years but it's a new contract/job every 2-3 months. She also got her real estate license here in Chicago prior to COVID.

Myself, I was recently laid off due to COVID after being with a company for 3.5 years and have had steady previous work history for 6 years before that.

Our fear/lack of knowledge is holding us back from finding other ways to fund an investment/BRRRR property in Chicago.