All Forum Posts by: Jarret Jarvis

Hey Dahtanum, welcome to the fix-and-flip world!

Rehab costs in Chicago’s South Suburbs can vary, but here’s a rough guide:

• Roof: $15K–$30K (depends on size & materials)

• Windows: $300–$700 each (single vs. double pane)

• Plumbing/Electrical: $3K–$10K+ (scope-dependent)

• HVAC: $5K–$12K (new furnace & AC)

• Siding: $6K–$15K

• Garage Reno: $3K–$8K

• Bathroom Update: $5K–$15K

• Kitchen Update: $10K–$25K

For per-square-foot rehab costs:

• Light: $20–$40/sqft (paint, flooring, minor fixes)

• Moderate: $40–$75/sqft (kitchen/bath updates, some systems work)

• Heavy: $75–$150/sqft (full gut, major structural/mechanical work)

Contractor pricing can be all over the place, so always get multiple bids and build a solid team. Hope this helps—good luck with your flips! #LETSGO

— Jarret

Hey Nas, welcome!

Paying cash can definitely help you score a better deal, especially on REOs — banks often prefer quick, no-hassle closings. You can find REOs on sites like Auction.com, Hubzu, or through a local agent with access to the MLS.

As for investing, single-family homes are great for beginners — easier to manage and sell. Apartments can offer better cash flow but require more oversight.

I'm local to Chicago if you ever want to connect or chat more! #LETSGO

— Jarret

Great mindset, Kyle! Seller financing and partnerships can be great ways to get started without a lot of cash. Networking with investor-friendly agents and experienced investors will open doors to creative deals and off-market opportunities. Happy to connect and chat more about strategies that work in the Chicago market! #LETSGO

That’s an awesome find, Eric! If it had some Airbnb success, it could be worth keeping as a short-term rental for extra cash flow, especially if demand is there. But if long-term rentals are your focus, selling or trading it to someone in the niche could free up time and capital. Maybe test it out for a bit and see if the returns are worth the effort! #LETSGO

Good question, Toure! If major systems (roof, HVAC, windows) and hidden issues pop up, it’s leaning toward a full gut. Light rehabs are a smart start—less risk, more learning. Happy to chat more! #LETSGO

Great move, Anthony! The VA loan is a fantastic tool, especially if you house hack live in one unit, rent the others. I wish I had focused more on running conservative numbers (vacancy, maintenance, surprises) early on. If you ever want to chat financing strategies, happy to help! #LETSGO

Hey Bem,

I’d love to connect—I’m a real estate agent with experience in multi-unit properties, and I’m actually in the process of selling a 7-unit building right now. In addition to working with investors, I also personally own a 16-unit property, so I understand both the sales side and the investor mindset.

Your 15-unit sounds like a great asset, and I’d be happy to discuss how I can help you navigate the sale. Let me know if you’d like to chat!

Look forward to hearing from you!

Jarret

Hi Patti,

Great to connect! I’m also based in Chicago and always enjoy meeting like-minded individuals focused on growth and investing. Healthcare acquisitions sound like a fascinating space—are you currently working on any deals, or are you exploring new opportunities?

Looking forward to learning more about your journey! #LETSGO

Best,

Jarret

Hey Asim,

If it's not in an ADU zone, long-term rental could carry some risk, especially if it's not legally recognized. Airbnb might be an option if local regulations allow it. Another route—house hack by including it with an upstairs unit.

Might be worth consulting a local zoning expert or attorney to explore your best move. Good luck! #letsgo

– Jarret

Hey Wen,

Congrats on the two-flat purchase! Insurance pricing can be wild—definitely worth shopping around. Some investors use State Farm, Farmers, or specialty landlord insurers for better rates.

For liability, an umbrella policy (separate from homeowner's or rental insurance) adds extra protection. Your rental property insurance should cover tenant-related issues, not your primary home policy.

Worth chatting with an independent agent to compare options. Best of luck! #LETSGO

– Jarret