All Forum Posts by: Jeffrey Hotz

@Thomas Heimel you mentioned other franchises being super $$. And more than Thans course.  Are there others besides HomeVestors of America, the "We Buy Ugly Houses" guys?  HomeVestors is much cheaper and actually includes lead generation and cheap/easy hard money, as well as ongoing support from investors actually buying and selling.

Yea from what I see the roof is fine for rental.  Buy and holds are a different remodel than rehabs.  Take a look at the condition of other rentals in the area, that's your target.  

I'd whitewash, paint the doors to match and put on storm doors.  Leave the roof for replacement once it needs it.

Can I ask what your looking to sell for and what financials look like?  Is there a reason your doing full rehab on a duplex?  Just curious. 

@Ken Yu

Hi Ken! Fellow Chicago investor here.  Hardest part about this business is shifting your focus, and your spot on about the mental and emotional fortitude needed.  For me I often find long stints without purchases or deals coming through, and very difficult to continue to push forward when you can't see what will happen in the future.  However, if you have a plan in place, and work the plan hard, you will have success.

I often find that house purchases come in 2s and 3s, and while you can have a significant amount of time in between, Ive always hit my year end sales targets. For me (through HomeVestors) I'm able to track how many leads, appointments, advertising dollars, and contracts it takes for me to purchase a home. I simply take those figures, figure out how many homes I want to buy in a given year and work backward. Id think even outside of HomeVestors you may be able to come up with this information. If your submitting contracts on MLS homes, figure out how many it takes to buy one, and then work backwards.

Anyway, welcome to the exciting world of RE Investment.  Please reach out if you think I can help in anyway.  

This is going to be a cheap plug, so apologizing up front, but have you ever thought of associating with a national company that can shorten the learning curve, provide motivated seller leads, a system to simplify the investing business, and funding to flip properties(if needed)?

Im with HomeVestors of America, and currently investing in both Chicago and Cleveland.  Happy to discuss if this is an option for you in your market.  Were 786 strong and nationwide.

@George Despotopoulos  not a conventional lender, I guess they can be considered hard money.  7% on a 30year fixed.

whitewash is 50/50 paint and water.  Painting brick sucks since it take crap loads of paint to fully cover.  This is why I like whitewash, brightens it up but still rustic enough to allow for major imperfections.

I also storm door everything.

Whitewashing brick will go a long way.  Is that a duplex?

Ultimately depends on what the comps look like and what your looking to do with it.

I wouldn't change the roofline, looks new anyway, is it?

Justin Taber I've got a lender that will be LTV 75% cash out w/1 month season. If you want it message me.

Jeremy Hazelwood Your correct Jeremy! You want to start your own burger business? Go ahead, but pretty sure you won't have cars lining up to buy them like if you paid into McDonalds. Same concept here. I've paid in, and would gladly do it again to gain access to the leads we generate, financing that's available to franchisees, and the support and team mentality that's in place. Again, happy to talk to anyone that wants my take on it.