All Forum Posts by: Jonathan Satizabal

Has anyone heard of or taken a "Shelter Care Plus" voucher? If so do you  have any info? How is the process, inspection or any issues with getting the rent payment?

Any information is greatly appreciated, thanks.

Thank you,

Do you think I would need permits for updating kitchens and bathrooms? I could probably check that on there website.

this company was stern on the 20% 

They had me give them a detailed list of the work I would be doing. With estimated prices. I estimated all the work myself. That added up to 18000. So the loan was for the purchase price plus the 18k - the 20% down payment.  

In my case it was a 55k house plus 18k for rehab plus points and closing cost the loan amount is 65k

It's an interest only loan for 13months  

They give you more favorable terms if you do more deals with them. In my case it worked out fine.

recently did my first HML deal. I had to put up 20% down payment. Plus money for rebab costs. I could take draws from the escrow account as the work was completed.

The money is kind of expensive i think they charge three points, plus other small fees and 12% interest rate. 

The plus side it was very easy to get the money. I closed a deal in two weeks. 

Does the city of Bolingbrook get involved with renting and selling of properties?

Do they send out inspectors?

Do they have strict rehabing policies or permits?

I am currently investing in homes in Chicago buying and selling and renting in Chicago is a very simple process the City doesn't  tend to get involved. I know alot of suburbs get involved with selling and renting of properties.

Has anyone ever gotten a foreclosure list from a bank?

I would like to ask my Credit Union for a list.  Has anyone had success doing this?

Who are the appropriate contacts to ask?

Thanks In advance

I'm investing in single family homes on the South Side of Chicago and South Suburbs. 

Does anyone know any lenders in the Chicago area that do delayed financing?