All Forum Posts by: Josh Salinas

Hi everyone,

Does anyone have any leads on contractors working around the Joliet area? Im looking to do some fix and flips around the area. Thanks!

Thanks Mike I appreciate the insight. I would love to give BRRRR a shot but I'm just trying to do a flip for now since this would be my first rehab. As for money I have 40k in reserves that I don't really want to touch. I was planning on getting a HELOC on my house which I've only had for a year and a half but since the markets crazy right now I already have over 120k in equity. I think conservatively I should be able to get 40k, probably more and I would use that as the down payment and funds towards the hard money loan. Would you consider that too risky of a plan considering I'd be using one loan to pay another or is that something worth trying?

Thanks @Scott Trench! I'll give it a try. 

Hi everyone, 

I'm looking to flip a SFH in the Chicago land area. Does anyone have any good recommendations for lenders who deal with loans that include purchase price and rehab? Thanks!

Thanks Andy! I have considered it but for now I want to remain local. Since this would be my first deal I want to be able to learn everything in person. I need to learn how to be a good landlord before i let someone else do it for me. Most of my deals are straight off the MLS however I have come across some FSBO's and some investor owned properties that are off market. But nothing I would say is a great deal by any means.

Hi everyone!

So I've been analyzing deals for the last few months and honestly am really struggling to find what seems like a good deal to me. I'm focusing on SFH's as long term rentals in the west-north west regions of Joliet, also Cresthill and Lockport. Wondering what everyone looks for when analyzing a deal. How much cash flow should I reasonably expect and what other factors do you consider most important. I try to be conservative with my numbers (generally 7% or more for Capex amd Repairs, 5 % vacancy and 10% PM) but I'm still surprised that I'm not finding anything out there. Is this just because of a hot market or am I being more conservative then I need to be?

Thanks!

Hi everyone,

Does anyone know a good GC working around Joliet, IL? I know they are very difficult to come by and would really appreciate any recommendations. 

Thanks

Thanks Rick thats good to know. Sound like Ottawa has some good potential. 

Thanks Henry I appreciate your insight. Those are all things I was worried about. 

Hi everyone,

Im new to investing and am thinking of investing in either Ottawa or Streator. My main concern is cash flow. Do rental properties in that area cash flow well? Would you recommend investing in this area?

Thanks!