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All Forum Posts by: Justin Ericsson

Justin Ericsson has started 2 posts and replied 106 times.

Post: Terrible time to buy?

Justin EricssonPosted
  • Professional
  • Glenview, IL
  • Posts 114
  • Votes 65

buy buy buy lol... My retirement account I wait for market crashes ... Real estate I buy weekly. Prices are going up don't wait 2 long to buy... If you wait much longer you may wait many years. 

Post: Best way to use 5-10k to get started in real estate?

Justin EricssonPosted
  • Professional
  • Glenview, IL
  • Posts 114
  • Votes 65
Originally posted by @Douglas Harmon:

Hey Gary congrats on paying off your SL's. I would highly recommend looking into FHA loans and first time homebuyer loans. With a FHA you are required to live in the house for 1 year. A great and common starting practice is to invest in a multifamily (I.e duplex, etc.) and rent out part of the residence. This is a great way to develop additional income and help with the mortgage as well as have a smaller down payment. ~5% instead of 20% with current FHA loans. Good luck!

Doug 

 I agree with Doug... Live in one unit and rent the other. Ask seller for a 3% seller credit to minimize your down payment. 

Post: Chicago real estate prices too high?

Justin EricssonPosted
  • Professional
  • Glenview, IL
  • Posts 114
  • Votes 65

Post: Chicago real estate prices too high?

Justin EricssonPosted
  • Professional
  • Glenview, IL
  • Posts 114
  • Votes 65

syed I buy houses every week with lots of equity that cash flow well. I have To rehab them to get the value add but I can tell you chicago is awesome right now for deal flow. I will say if you are buying in Irving park for example it's super competitive. 

What areas are you buying in right now?

Post: Investor from western suburbs of Chicago (La Grange)

Justin EricssonPosted
  • Professional
  • Glenview, IL
  • Posts 114
  • Votes 65

David I live in chicago and can help you acquire houses to achieve your goal. I buy most of properties off maket from Freddie, Fannie, HUD via the national stabilization trust. I acquire then at deep discounts all over chicago and the suburbs at nice discounts. I can also help you with creative financing to achieve your goal faster. Let's connect soon!

Post: Closed on my dulpex

Justin EricssonPosted
  • Professional
  • Glenview, IL
  • Posts 114
  • Votes 65

Tereal,

I also love love duplexes (2-flats here in chicago). They cash flow like crazy! Keep going and happy hunting!

Post: Canadian exploring in investing in US

Justin EricssonPosted
  • Professional
  • Glenview, IL
  • Posts 114
  • Votes 65

Duncan I suggest you look at B2Rfinance they will fund 65% ltv for you. They do have a $300k min loan amount so I suggest you go after houses valued more than $150k to start. As far as locations I recommend chicago, Dallas, Cali (if you can find anything that cash flows in Cali). If you are looking for turnkey operators check out Turnkey-reviews.com 

Post: Should I invest in turnkey properties

Justin EricssonPosted
  • Professional
  • Glenview, IL
  • Posts 114
  • Votes 65

Josiah,

Turnkey-reviews.com lists reputable turnkey operators like my company.  I would recommend starting out with a Turnkey operator and learn as you go. Once you have acquired a few properties I suggest working with a good broker in your back yard.

Post: Does anybody has a good real estate agent to recommend in Dallas

Justin EricssonPosted
  • Professional
  • Glenview, IL
  • Posts 114
  • Votes 65

I'm also looking for Dallas agent with 20 years of experience 

Post: Investing in the 'Hood', Improving Communities

Justin EricssonPosted
  • Professional
  • Glenview, IL
  • Posts 114
  • Votes 65

glad to help any way I can! Feel free to use any of this content to your advantage in your backyard 

http://changingchicago.org