All Forum Posts by: Jackie Escamilla

I have gutted out the kitchen and bath I will be installing new plumbing. My question is would you spend over $600 on a water heater? I am paying everything out of pocket and I feel like a 40gal over $600 is too much for an 1100sq foot home. My plan is to rent out the property. Any and all advice is appreciated.

@Caleb Brown thank you Caleb! I will check FB.. thanks for the response!

I need help. Before putting a 2bd sf up for rent, I want to remodel it. Does anyone have any good reliable contractors in the Chicagoland area? Thank you in advance!

P.S. Your advice is greatly appreciated as well. I am a little nervous I have been contemplating this for about 3 years and finally doing it! Yikes!

I will be hanging on to BP for all the advice..

I live in Illinois and about a year ago my neighbor passed away. No one has moved in the property has been untouched I checked with the tax assessors office her property taxes were not paid for last year. How can I go about purchasing this property? Is it a long process? I read something about a probate, from what I read it is a long process. Are there alternatives? My goal is to purchase (if possible) and maybe rent or flip depending on how much work would have to be done.

Your thoughts and wisdom will be much appreciated.

 Thank you for your advice.

@Jacob SampsonRight now the rent is $1575 combined.  If they do have a lease I was hoping to raise the rent and rent the garage once the lease ends.

Apply a second mortgage or home line of credit on my personal residence. I have about $50k.

I have a few questions. I found a home foreclosure on realtor.com for $45k in Chicago. The property is occupied. Are there risks in purchasing a foreclosure with renters? At the closing will I be able to add that I will be giving them a lease? Also, your opinion on the next question would be very helpful. I do not have cash to purchase this home. A few of my thoughts were, apply for a mortgage, apply for a second mortgage, or a apply for a personal loan. Which would be best? I forgot to add I am very new at this and any/all feedback would be helpful. Thank you all for your time.

Hi Pamela - thank you for taking time read my post. The property is now pending. It was a two flat 4beds, 2baths, 1668 sq. ft., needs work.  

Any and all of your advice is greatly appreciated.  I currently own a SF home.  My intent is to purchase fix and hold at least 2 multifamily units. I am from Chicago. I found one property for $52,500. Advice will hold or fix and flip? 

My questions are as follows: 

1. Should I take out a loan for a property like this?  If so, should I go with my current lender or do I choose a different lender? 

2. How would I pay the contractor to fix the property? 

I just want to start swimming before getting lessons. 

Thank you in advance..