All Forum Posts by: Ivy Pierce

Thank you so much everyone for your input!!!

Hello,

I am looking to do my first flip. I have been analyzing deals on the south side of Chicago and the south suburbs. I have a pre-approval for a hard money loan. Each of the homes I have tried to bid on had 20+ bids and ended up selling for double the list price. None of them have finished the rehab yet, and were not in areas with enough rehabbed comps. 

Since most homes are selling above asking price, can I be less conservative on my ARV estimates? Is it possible to over pay on the front end and still make a profit after rehab since this is a sellers market? I have been using the flip calculator tool and intentionally not gone over the recommended max bid. However I'm wondering if the climate of this market allows more flexibility in that aspect.

@Ray Harrell can you advise what the CLTRO is and where it can be found?

This was very insightful, thank you for sharing @Kevin Dureiko! I am preparing myself for my first flip and planning to use a hard money lender once I find a deal.

@Aaron Vaughn I would love to join your discussion if open to all BP members!

Thank you @Kenneth Garrett !

Will do, thank you Trexie!

Hello Everyone! I am a newbie looking to start investing with my parents in the Chicagoland area. Can anyone provide any recommendations on whether it is best to begin flipping or house hacking under the current state of this market?