All Forum Posts by: Justin Ericsson

Amber run not walk from this deal. You need to make at least $500 a month after all expenses for this size of an investment. Look at maverick investment I think they work with a provider in this area that can do much better. If not let me know I can find you a provider or broker that can help you in DFW.

Darrian... We need to connect I can provide a lot of insight into this model. I also invest in higher risk neighborhoods and have done well for the local communities. It's hard work but very rewarding. Like Jay said not enough people doing it but although I have to say it is in fact possible. You have to very geocentric in the approach meaning you can change all the communities at the same time. Take a block you like and go 1 mile in every direction and start there. Over time you will make a big impact and other investors will follow. I started out in one zip code and now cover 33 zip codes with a hybrid of A, B, and C locations. I spread the risk around and help the communities in the process. 

Well said Jay!

Brie is correct it can take many months to evict a tenant depending on the time of year. I only rent to section 8 or HUD tenants to avoid evictions completely. Best option is cash for keys to get them out quickly. I have evicted tenants in the past in 90 days and other times 6 months. The judge will always award the possession order for non-payment here in chicago but getting them out after the possession order is what takes the most time.

hi Linda met me know if you need help selling your chicago property

Bill ... My example of $500k is an example that may come along in life. I didn't get approached by my neighbor but the point is it could happen so be ready! Without cash someone else may get it. 

I'm laughing Bill at your comment about jail time. I live in areas where houses sell for $800k to $3mm... So buying a $2mm house $500k below market value is only 25% below market value. I don't buy anything over 75% of market value my friend arv. Want proof?  Here you go:

621 Windsor, glenview IL purchased for $535k net purchase price, rehabbing for $450k, and selling for $1,350,000. Got the deal from my broker in glenview that lives across the street from this house. I had the funds so I bought it!. Bill keep this thread in your history I will send you the settlement statements so you know people actually do what they say. 

 Brian well put! I would add having a stock pile of cash (or access) is a good thing when a good opportunity comes along in life. For example my neighbor just approached me and wants to sell their house quickly and just wants a cash offer that gives you $500k in equity. Without cash or equity to borrow from the other neighbor gets the deal :)

Lisa... You may want to entertain chicago ... 

ring me I will get you a line of credit no problems 

nancy... The companies you mentioned are mostly marketing agencies for Turnkey companies meaning they don't usually sell the actual homes you would purchase. I hear they work with quality turnkey companies in different markets so you should do fine. I'm an actual turnkey operator here in chicago if you want to explore the chicago market. Happy hunting!