All Forum Posts by: Karl Lathus

id for sure be interested- can you provide details? 

Hey everyone! Is there anyone wholesaling in the far south Chicago suburbs (South of 80) Multifamily or Single Family homes or anything really

I live in Peotone Il and im looking to network with anyone in the area... especially wholesalers lol 

I do a lot of work with Selene finance as contractor. I’ve never bought from them but do know that they do move a lot of REO inventory. It really depends on the specific property. I’ve seen them lower their price by 50k just to move a house but I’ve also seen them stick to their guns and hold a property and not move one bit. It really depends on what their numbers look like. Sorry this isn’t anymore help. Let me know if you have any questions for me

Kaitlyn - Thanks for the tip on Lansing, i have been looking over there for a while now and havent found any that look to be one that i can move on. Ill keep looking! 

Funding is definitely the hardest part.  It took what felt like forever to raise the money needed to begin. I am blessed, i own a small construction/property manager company. I was able to raise the money slowly on my own. But have found that you run out of cash quickly! I know a guy who uses hard money in the area, but i am afraid to use hard money! My biggest suggestion is networking with family and friends

I am very happy to say that i started my first rehab this week! It is located in South Holland IL. I am looking to keep things moving as soon as i get done with this. I should have the capital to purchase my next one soon. I would like to stay in the south chicago suburbs market. Anyone have any tips on what neighborhoods are best right now that you can get deal on a distressed property for under $90K and ARV around 200K. Any tips are helpful!

Hello everyone- 

I am new to the forums, I am not new to real estate of Bigger pockets pod casts. I am a 28 year old small business owner. I started my company three years ago now, initially I began as an REO contractor based out of South Chicago Land, but servicing mainly north chicagoland (not by choice, this is where most of the REO stuff was going on in chicago at the time) As my business grew i also found my client base growing. I began working with many of the areas larger investment firms, completing service for general maintenance, property management, and tenant turnovers as well as maintaining my relationships with asset managers at the larger banks.

We have had much success over the past couple of years in construction and property management, but I see my true future in Real Estate. I have read all the books, listened to all the forums and I am ready to make a move on my first 4 unit property in the coming weeks. 

The reason that I give this much background info about myself is because it makes for my question to be a little different if it came from the average rookie investor. 

When making a move on a 4 unit building that is fully rented ($975 per unit and asking price is $356) what are my biggest concerns that i should look into?? And what are the best ways to get financing (i have capital for 20-30% down if needed)   

Thank you!!!!