All Forum Posts by: Jennie Berger

 Did you ever rezone this? Inquiring minds want to know. :)

@Madeline Walsh Just a note to say we're here in Chicago if you need boots on the ground! I'm not sure exactly where you are located, but you've made a great connection here with @Jonathan Klemm if you need contractor help. Best of luck to you working through the renovations - if you need any design advice, feel free to reach out!

-Jennie

@Abigail King 

Hi and welcome! I'm also in Chicago (like @Jonathan Klemm :), and am always looking to connect with more female RE investors, especially those who are actively doing, or aspiring to work on, fix & flips. If you're interested in a virtual 'meetup', please feel free to DM me. Best of luck with your endeavors!

-Jennie

Hey Joy!

Out of curiosity - where are you located? I'm in Chicago and noticed you are interested in investing here. If you're local to the area, let's connect in person to see how we can help each other. Welcome to BP! :)

-Jennie 

 Sending you a message now! :) Happy to help.

 Hey @Jaclyn Spinelli! I'm in Chicago and was just curious where your 4-flat is located here? :)

@Kevin Zmick Where in Chicago is your unit? 

@Mike Klarman 100% agree with this. As a builder and developer in Chicago, I've been on both sides of the 'GC equation' - working with GCs and being the GC ourselves. Even with my former partner (who was our 'PM / GC' on site for our projects), it was sometimes tough navigating the process, managing budgets and costs, and keeping everyone in line, including him. 

@Shayan Sameer As @Drago Stanimirovic mentioned - many rehabbers are gong with 75-80% just to do a project. I have even run my numbers using anywhere from 65%-80%, depending on the scope of work, timeline, neighborhood, and ARV. If you have a solid ARV AND a great GC / team that you trust to do good work, consistently, and can stick to the timeline planned, even with hard money you will still make money at 75 or 80%, albeit a little less than at 70%. 

Hard money lenders have been some of our BEST teammates over the last 4 years. We've done more than 20 projects, many of which were funded (at least in part) by hard money lenders. A private lender is optimal (so you don't have to use all of your cash and can scale easier if desired) because you may not have to jump through as many hoops. But if you haven't established those relationships yet, good hard money lenders are some of the most honest and reliable capital partners available.

Jennie Berger

Hey @Roseann Koefoed I love this thread! Have you gotten any resource recs yet? I asked Gemini and it pumped out some responses, but I know literally nothing about this so I have no clue how accurate it is and it definitely also recommends consulting with a lawyer and other experts in this arena. I wish I could be more helpful - truth be told, I'm here for the responses because I'd love to learn more about this as well. Keeping fingers crossed for you and this deal!

@Kevin Morgan which areas/suburbs are your MTRs located in?