All Forum Posts by: Jennifer Hubbard

Welcome to BP @Tomasz Strzemecki and @John Weidner

Thanks for the input @Karen Margrave and @J Martin.

We are fixing and flipping in inexpensive areas. (Illinois is not a landlord-friendly state.) The foreclosed homes sell for between $40,000 and $60,000. We invest about $50,000 in the rehab and then sell for between $130,000 to $150,000. We can get the two bedroom homes for less than $40,000. We are researching the cost for installing dormers and expanding the attic into one or two bedrooms and a bath. We would greatly appreciate hearing from other BP members that have experience with this type of remodeling job. Thanks for all your help and information.

The competition for 3BR homes is stiff in our market (Chicagoland). Deals are snapped up before we can even look at the property. We are forced to make offers before viewing properties and even then we find out that the deal is already under contract.

Now we are considering buying 2BR homes and adding on a 2nd floor master suite and nursery/office or 4th bedroom.

Does this make sense to anyone out there? The 2BR homes are typically 850SF. Due to the age of the homes in our markets, we often have to gut everything anyway, thus we can take savings on the rehab of the smaller space to offset some of the cost of the addition. We would be interested in hearing your views and to learn of costs and pitfalls of this strategy if you care to share. Thanks and Happy New Year BP!

Thanks @Joe Mueller Where are you from?

Thanks for the kind words @Tom Bujnowski We invest in the NW Suburbs so keep us in mind if you find something up our way and we will do the same if we run across something in your neck of the woods.

Thanks for the shout out @Mike B.

Welcome aboard @Rancliffe Conyers . Keep us 'posted' on how your mailing goes. One recent podcast mentioned that you have to be consistent with your mailing campaign hitting the same list every month for 4 - 6 months before you get any measurable results. Good luck and don't give up!

Hi @Ryan Steele we have a few deals under our belt after taking time off during the crash. Prior to the crash we were mostly investing in multifamily. We would like to improve our deal flow so that we can consistently close 2 deals per month. We look forward to seeing you at your next REIA meeting.

Hi @Sharad M. We would be interested in your meetup group. Please add us to your list.

Hello @Wanda Cardenas Some on BP say that if you find a deal the money will follow. You may be able to wholesale, JV or do it yourself. You can do it. Just take it one step at a time. Find it. Fund it. Fix it. Flip it! Let us know if you find a deal to wholesale. We buy homes in the NW suburbs so keep us in mind.