All Forum Posts by: Linda Govan

Hello BP members,

I want to look into an investment opportunity with another investor. Its a Co-Op in an upcoming neighborhood in Chicago, IL and has a decent amount of units for a starter multi-family.  The other investor is looking to make the co-op a multi family and that is looking to be more profitable to do.  He has a problem with (2) of the owners not selling their interest and they still live there and he owns the majority.  My question is when investing in CO-OP what should an investor consider when negotiating with owners for their shares? I also want to know how to make this an easy transition from a Co-OP to a rental asset?  Thanks in advance for any type of advance this post could produce.  Happy Investing to you all.

Hello Dain,

Did you reach out to any lenders in the lenders in the city you are planning on investing? Just to see if they may know someone that would match your buying power. If you're interested in looking at Texas, Florida, and Georgia look me up.  I work with an asset manager and I have portfolios available.  

Hello BP community, 

I was approached by a local broker to help her with some bank reo's in Texas, Florida, and California.  I am trying my hand in virtual wholesaling I was trying to get an idea as to where are these properties coming from? The list is about 1700 properties strong and the guy who the realtor got them from is asking for the NDA and deposits as high as $25k. I am not finding any info on the company Getter Done flips, llc. Has anyone heard of them? Bssed out of California? The realtor she is clueless and says she was contacted by the asset manager personally. She in turn reached out to me and a couple of wholesalers to help her with the REOS.  My question is how can you tell if you have real reo's from the actual banks? I don't like dealing with daisy chain deals. Some guidance from more experienced investors is greatly appreciated right now . 

Z

Ken Vingua,

I am still looking for a real buyer for the deal I have been running across too many daisy chain wholesalers to buyers in the area I found the property.  I like the deal and I have a good communication with the seller she is willing to release 3 more rehab deals to me. I have to first make good on this one. If you are seriously looking for some rehab deals to fund for as a partnership that would be a great partnership to have Ken. I already have a contractor I have been working with so if need be I can pull the trigger to work on rehabs. That's really what I want to do.  

Thank you Lumi Ispas,

I really appreciate your feedback.  I do go and meet with my attorney I just I reached out to next week. I wanted to see how its a win-win for the both of us.  I don't want to get caught holding the bag. 

I am wholesaler that has found a property in Chicago, IL.  The owner is out of town and half completed the rehab 7 years ago and its just been sitting.  I want to do an owner finance with her. I like the wholesaling but I really want to do fix and flip. She is asking $30k cash. I want to do $3k down and 5%-8%interest.   The the basic rehab would run me $10k-15k and I have a credit card limit of $35k and my interest rate is 18%. Am I crazy to try and pull this off? Resale in the area is $120k-155k. Please help me make some since of this. Thank you BP for all the help thus far on my journey.  

@Wendel De Guzman,

Hello Wendel,

I love when you write a post Sir because I become very informed.  I am in Chicago, IL wholesaling and have yet to see a "Real" hard money program for newbies.  I am currently doing wholesaling and was looking into grabbing one of my very low entry contracts.  Is there anyway a first time flipper could acquire a loan for a flip?  What should I be looking for?  Thanks in advance for your response.  

Hello Ryan,

If your interested in finding some off market properties I'm your lady.  I find rehabbers fix & flips projects.  If you interested in receiving some emails; no spam by the way just shoot me a message.

Happy Investing to you

Hello Bp,

What is the chance of me getting into a dirt cheap commercial property loan? I see a space available for sale 2700 sq ft space needs cosmetic repair.  Price $105k. How can I get this property for myself and still aquire rehab funds for fix and hold? 

Hello Eddie V.,

I seen them alot in Chicago where I am from.  I finally called a few of them seeing what they were about.  I do wholesaling by the way so I am always looking to network.  It was what I thought wholesaleres looking for bird dogs.  That is property locators since the real wholesaler can't be everywhere finding properties.  Not all of them even picked up the number or even had a call service set up.