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All Forum Posts by: Jaclyn McClellan

Jaclyn McClellan has started 14 posts and replied 164 times.

Post: Hi! New member in Chicago area

Jaclyn McClellanPosted
  • Real Estate Agent
  • Chicago, IL
  • Posts 176
  • Votes 73

Welcome to BP @Oscar Setiawan !! Congrats on your first couple deals, very exciting.

Post: How to find a partner for a multi unit

Jaclyn McClellanPosted
  • Real Estate Agent
  • Chicago, IL
  • Posts 176
  • Votes 73

Maybe make a more specific list of your skills that you could bring to the table and then identify other skills that you would need a partner for. Be as specific as possible. That might at least help a little bit on better identifying what you need from a partner... and what your skills are.

Post: New member from in Illinois

Jaclyn McClellanPosted
  • Real Estate Agent
  • Chicago, IL
  • Posts 176
  • Votes 73

Welcome @Joe K. ! All great ideas, I would definitely recommend doing the live in deal and buying a multiunit. If you do FHA you can put down 3.5% so you don't have to worry about any private investors right off the bat.

If you have a great real estate agent like I do (cough cough @Dorothy Wulf) they usually can negotiate closing credit so you don't have to pay the closing costs. My first multi unit I closed a FHA loan with $5k down and no closing costs.

Let me know if I can help with anything and welcome to the BP community! I definitely recommend checking out the podcasts, they're great.

Post: Experienced wholesalers in Chicago?

Jaclyn McClellanPosted
  • Real Estate Agent
  • Chicago, IL
  • Posts 176
  • Votes 73
Anybody an experienced wholesaler in Chicago? Looking to connect, thank you!

Post: Good Chicago Property Management Company??

Jaclyn McClellanPosted
  • Real Estate Agent
  • Chicago, IL
  • Posts 176
  • Votes 73

You could call Fulton Grace, I've had good experience with them.

Post: New Member from the Chicago Area

Jaclyn McClellanPosted
  • Real Estate Agent
  • Chicago, IL
  • Posts 176
  • Votes 73

Welcome @Clarke Criddell! Will you be in the Chicago market? I am always looking for contractors to add to my list.

Post: Buying Your First Rental

Jaclyn McClellanPosted
  • Real Estate Agent
  • Chicago, IL
  • Posts 176
  • Votes 73

My experience with FHA is it's really not that "strict" as everyone said it would be. The process was pretty much the same as closing on a conventional loan. I have a great lender too if you need recommendations.

Post: new Chicago member looking for great new friends and biz partners

Jaclyn McClellanPosted
  • Real Estate Agent
  • Chicago, IL
  • Posts 176
  • Votes 73

Welcome to BP @Dario Kerkez ! You'll love the community.

I am also in the Chicago market - let me know if there's anything I can do to help.

Post: New Investor from Chicago!

Jaclyn McClellanPosted
  • Real Estate Agent
  • Chicago, IL
  • Posts 176
  • Votes 73
Welcome Jun Ku !! I'm in the Chicagoland market as well and have a great team - let me know if there's anything I can do to help :) if you're looking to get a search going I can give you the info for my realtor.

Post: Inherited a tenant with 2 pit bulls not sure what to do

Jaclyn McClellanPosted
  • Real Estate Agent
  • Chicago, IL
  • Posts 176
  • Votes 73
Stephanie Irto haha I hoped that would make ppl laugh. And yes, he legit sits like that. It's hilarious !