All Forum Posts by: Justin Ericsson

hi Michael ... I would like to help ... We are located in chicago. Let me know if you want to meet up to discuss the market. 

Oh man this is awesome ... If you don't mind I'm going to post at least 50 questions for you. Let me know if that is cool? I'm going to invite my directors as well.

 James nailed it! Local attorney will get you what you need. You may want to butter up the attorney a little with your request ;)

the turkey was for fun considering the holiday lol... Thought I would throw some humor into the forum :)

Peter

i would recommend flying out to meet 3 turkey operators in the markets you like. This will give you a wealth of information to narrow down your decision. 

Jack ... As mark mentioned chicago suburbs have great cash flow, low crime index (not the hood), appreciation potential, and reasonably priced. I sell 4 bed 2 bath 2 car garage homes fully rehabbed for $150k that get $1,900 per month in rent government guaranteed. The cities are country club hills, Hazel crest, and south holland Illinois. Cap rates are 9%. Take a look as benchmark to other markets to see what is offered.

try a local broker ... They have access to mls that can tell you just about anything you need to know. If someone is flipping you a home the deed may not be recorded yet however there may be a mls record to lookup. You can also try your local title company

Start in your back yard if you can... Otherwise I like the idea of going to Hawaii if you can

Simon,

First trick is increase purchase price by 3% ($5k) and ask for seller credit for $5k which is allowed conventionally... That will save you half your CAPX. If you have less than 5 properties u can go 25% down vs 30%. If the property has enough equity you can refinance after 3 months with lenders like b2rfinance at 75% of fmv to potentially pull out some cash. I wouldn't advise as those loans are higher interest rate ... Wait until you have substantial equity in your building. 

Sven (312) 953-7705