All Forum Posts by: Jason P.

@Harith Hadi I was about to buy a duplex there. I did an inspection on the house and it needed some work so I told the owner the price I’d pay, they went down a little so I said meet me half way and they said no so I walked.

If it’s a great deal and you have a system in place do it.

@Bob Stevens it is fully rented. Newer furnace and roof. Missing one piece of siding that is maybe a foot long and easy to repair. It could use some new linoleum floor in the bathroom.

My father in law got me the property manager.

@Joe Gallo I’m no expert, I just have one duplex so far. But what I looked for was the best home inspector in the area that was certified. A good agent/broker. And do your research on property managers in the area and what their rates are.

@Garrett Cannizzo do you even know if they can qualify for a loan? If it was me I’d probably do an owner financed deal where they give you a certain down and then you charge them interest for up to 5 years?

I’m just throwing that out cause just because they say they want to buy it doesn’t mean they can afford it.

@Christian Walker maybe I’m not understanding this. I read it as he is putting the money down and you’re putting experience?

If you have others that want to partner 50/50 then jump on those as well as helping your dad out. Family first IMO.

@Alexander Szikla it’s just the water which I guess over there includes sewer and garbage. I was wrong. It’s got two gas and electric meters. I went back to my inspection report

@Marco Anemone Nice. My FIL is in Bolingbrook so I was looking around there and as far as joliet.

Yes I used a reputable title company. No lawyers. I did my due diligence after I got it under contract and gave myself some outs. I wanted to lock it up and figured I could take a chance on $1000.

I thought it was too good to be true. The old guy had it listed at a high price for several months and he slashed it. I was the first to go look at it. Guy was in his 80’s and didn’t want the hassle. I think he didn’t like his real estate agent and wanted to screw them on commission. He thought they were trying to rip him off.

I was at the right place at the right time. Only thing I didn’t realize was I had to pay water, I didn’t think to ask since it said tenants pay all utilities.

@Cesar Campana in Bolingbrook il

@Tim Herman no I didn’t. I asked about the deposit and got it credited at closing. I didn’t think to ask about utilities since it said those were paid for by tenants On Zillow. (One of many mistakes in sure) It was posted for less than an hour and Zillow showed 12 saves and 100 views so I said I’d buy it contingent on inspection. One of the things the old man was gonna clean out the garage which is full of crap and I told him leave it and I’ll do it. He accepted my offer and I sent my $1000 to escrow. The inspection report came back great. So I wired the $15,000 to escrow.

Got the keys and got a dumpster and a few guys to clean the garage for $450

@David A. Nope. $16,000. Got a steal