All Forum Posts by: Mark Ainley

Nice Job!!!

how great is this Sunday knowing you don't have to go into work tomorrow? When I first quit by job Monday lost its dreadfulness and turned into excitement since I was motivated to get back to work and create opportunity.

We are newly offering a 100% CHA(Section 8) 5 unit turnkey building for sale in Washington Park in Chicago new to the market for $388,689.00 which equals 10 Cap based on most recent 12 month history taking into account vacancy. Property has 4 flat building, coach house, and additional lot included in price. Current ownership has owned for multiple years and can prove historical numbers. Current management is willing to stay on and offer free management fees for one year included in he sale price.

Building was gut rehab in 2010-2011 with full permits. All units are 3 bedroom, have central air, washer/dryer in unit, and all appliances owned by landlord.

We are not like your typical turnkey companies and will stand by our buildings and encourage the next buyer to keep us on as a manger because we know what we are doing. We own and operate all of our properties for multiple years before we sell which we rarely do because our stratagy/business model is buy and hold.

Please email me at [email protected] to get a brochure with pictures, numbers, and additional info on the rehab.

Mark Ainley - GC Realty & Development LLC

Visit my recent BP Podcast 72 for more info on us!

Hello all, we use the same company that does are larger commercial signs. I think we pay $8-$12 a sign and he has a template. Below is his info.

Chicago Sign Design

847-922-9333

Gary Becker

[email protected]

Cumberland!!!

Not having permits is a low risk problem unless it is for the water service, porch, or if the property has active housing court case. Other scenarios where not having permits can come back and bite is when something is clearly done that isn't code like a finished basement with one exit, bx is used openly instead of copper wiring in conduit, finished attic or dormers, or enclosed porch. These things can become issues when tenants call 311 for whatever reason and a city inspector comes out looking for problems.

In Chicago I have to say more people don't get permits than do get permits due the process being expensive, timely, and unpredictable.

I think tying up as many short sales right now is important to keep the door open to a good deal. With markets going up swiftly in Midwest and more so Chicago many banks/lenders will come back wanting more money then the original short sale agreed to price with the seller but there may be a few that slip thru the cracks and get approved at the lower original agreed to price between buyer and seller. We always tell the listing agent to accept our offer that is reasonable enough to get accepted and let the lender tell us if we are off on what they think the lender can get.

I like online auctions because you get lucky with timing of an auction ending where people just forget the end time to put in that last second offer and sometimes you can steal a deal.

Welcome!

The buyers agents have the access you need to know of the listing especially real time but on the other hand most listing agents will do what they need to do to get both sides of the commission. If I wasn't an agent I would work with an investor wise agent that would give up his commission to the listing agent and I would pay my agent myself out of my pocket to ensure I get the deal. If I stand to make $75,000-$150,000 on a property on a flip or over a long term hold the more important part of the process is securing the deal not the $2500 I would pay my agent out of pocket for.

This isn't a common practice where I am from but if I didn't/couldn't have my real estate license I want the good agent on my side to make sure I see the deals and benefit from his access and then pay him separate out of my pocket to make sure the listing agent is motivated to secure the deal.