All Forum Posts by: Josh Rogers

@Ashton Astillero, it's in South Shore

@Jeff Burdick, I am talking about the tax assessed value. But as I also stated, my agent comped the property around the same price as well. Its in South Shore, 2206 sq. ft, 4/2

@Katie Neason, by a lot of interest, I mean that many people are asking to see the house. I've had several stop by already, but most of them are wholesalers who are trying to get an already discounted property for an even larger discount. The ARV on the property is 175k assuming a high end rehab. The repair costs are estimated at 80k from my contractor. I agree with your logic on doing the rehab myself, however, this would be my first flip and I have no one to actively manage and oversee the whole process as I live about 14 hours from it. I want to make my money back at the very least. I believe that in order to accomplish this, I will have to invest in the guts of the house ( Plumbing, electricity, cosmetics) so that I can comfortably ask for a higher number that I bought it for.

@Wayne Brooks, I'm not looking to market on MLS. I've had no trouble attracting interested "investors" however, they always low ball me. According to Cook County, the market value on the property is about 167k. My agent has the ARV comped out at about the same, and maybe even up to 175k with higher end improvements. I got the property for 25k. If I was to go ahead with the improvements, I'd go the FSBO route.

@Mike B., I have pics if you would like to see

I bought a multifamily home in Chicago about 6 months ago, and I originally planned to flip it/wholesale it for a small profit. However, all I can seem to get are insultingly low offers since the home needs work (It's almost a gut rehab). I have been trying to market this property on and of for the last 6 months, but now its starting to become a burden as I have to pay on a delinquent water bill that was the result of a busted pipe leak in the basement right before we closed on it, and additionally I have to pay the remainder of the taxes. I am honestly at a stand still as to what to do to at least make my money back. Recently a few friends have suggested that I invest some money into the basics such as new plumbing and some cosmetic work so that I can at least market it for a higher price, however, I am hesitant to do this as I am not sure if anyone will buy once the updates are completed. What would you all do? 

I am  looking to begin a flip in the south shore neighborhood of Chicago and would like to get the home inspected and also get a trustworthy contractor to complete the rehab. Any recommendations?

I am in the process of assembling a team for a flip on a MF property in the South Shore neighborhood of Chicago. Does anyone know of good contractors that work, fast, efficiently, and are reasonable with prices? Any help would be greatly appreciated

I currently own a property and want to begin the process of fixing and flipping. For anyone who has done this in the past, would you recommend getting an inspection done first in order to prevent any unexpected surprises when rehabbing? I don’t want to pay both an inspector AND a contractor, but I’d rather do things properly in order to maximize my potential returns on this flip.

I have a deal contingent upon appraisal of my property but I want to find a reputable company to conduct the appraisal. Does anyone know of any in the Chicagoland area?