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All Forum Posts by: Joseph Mcmahon

Joseph Mcmahon has started 3 posts and replied 10 times.

Post: Fix n Flip opportunity in Dolton, IL - Motivated Seller!

Joseph McmahonPosted
  • Tinley Park, IL
  • Posts 12
  • Votes 3

14408 Ingleside Ave. Dolton, IL 60419

Beautiful brick home with semi-finished basement! Has lots of character that needs some TLC to shine again. Need to sell asap so don't pass up this great fix n flip opportunity. Serious CASH buyers only!

4 bed, 2.5 bath, 2 car garage, 1175 sqft, built 1964

Price: $60,000

Estimated ARV $140k

Estimated repairs $40k

Let me know if you're interested. More pics available upon request.

Post: Wholesale market in Chicago

Joseph McmahonPosted
  • Tinley Park, IL
  • Posts 12
  • Votes 3

Thanks for the feedback @Account Closed Why do you think wholesaling is so difficult in the Chicago market as opposed to other areas only a few hours away? Also, for those people you know that have been trying for over a year to get their first deal - what has been their strategy to find motivated sellers?

Post: Wholesale market in Chicago

Joseph McmahonPosted
  • Tinley Park, IL
  • Posts 12
  • Votes 3

Thanks @Scot Howat for making yourself available. I'll reach out if I have any questions. Have a happy Thanksgiving.

Post: Wholesale market in Chicago

Joseph McmahonPosted
  • Tinley Park, IL
  • Posts 12
  • Votes 3

Hi @Scot Howat, Thanks for the response. To answer your question, from my limited knowledge of REI so far, wholesaling seemed like it made the most sense for me as it doesn't require funding to get a flip done, not to mention I don't know much about rehabbing and not sure I want to start dealing with GCs as a newbie in the biz. From what I've been learning through reading books, listening to BP podcasts, etc the steps of a wholesale deal are similar to the initial steps of doing a flip - find a motivated seller and enter into contract leaving enough room to make a profit. Instead of doing the rehab myself and taking on the project...to me it sounds easier at this point to find a buyer and start making some cash. Ultimately I'd like to build up some cashflow to start doing flips and get some buy and holds but I'm just not there yet.

While I'm sure wholesaling isn't easy, from what I've heard so far it's a good first step. If you disagree I'm interested in hearing your thoughts/feedback.

Post: Wholesale market in Chicago

Joseph McmahonPosted
  • Tinley Park, IL
  • Posts 12
  • Votes 3

@Linval T. Thanks for the resources! 

Post: Wholesale market in Chicago

Joseph McmahonPosted
  • Tinley Park, IL
  • Posts 12
  • Votes 3

Hi all, I'm pumped about getting my real estate career started while working my full time job. I'm educating myself as much as possible at the moment and am wondering if anyone has some input on the wholesale market in the Chicagoland area? Specifically in the south/southwest suburbs...anyone had much success recently with motivated sellers?

Post: Newbie from Chicago, IL

Joseph McmahonPosted
  • Tinley Park, IL
  • Posts 12
  • Votes 3

@Scott Trench Thanks for being willing to share your experiences. Looking forward to reading it asap. I appreciate it!

Post: Newbie from Chicago, IL

Joseph McmahonPosted
  • Tinley Park, IL
  • Posts 12
  • Votes 3

Thanks for the info @Mark Ainley and @Crystal Smith I'm interested to hear your stories...how you got started, what are some of your greatest and toughest experiences. Did you leave a full time job at some point? If you're willing to share I'm all ears. PM if you want as well. Thanks!

Post: Newbie from Chicago, IL

Joseph McmahonPosted
  • Tinley Park, IL
  • Posts 12
  • Votes 3

Thanks Brie! I appreciate the feedback. 

Post: Newbie from Chicago, IL

Joseph McmahonPosted
  • Tinley Park, IL
  • Posts 12
  • Votes 3

Hello! I'm just starting to learn about real estate investing so I can break away from my corporate job and start a new chapter in my life. Looking forward to all the new info and relationships I build along the way. I'm hungry to make it happen!

Any advice for someone just starting out is much appreciated... ie: books to read, podcasts and email subscriptions, seminars, webinars, etc.

I'm also looking for a mentor since I believe that is the key to success in any industry.

Thanks,

Joseph