All Forum Posts by: Jerome Lanier

@Mindy Jensen Thanks for the feedback and I noticed the area does seem to be a little luke warm at best, I'm thinking of expanding my search to include Olympia Fields and Matteson. At the moment both of those areas seem to be more popular. 

@Lane Mccracklin I plan to wholesale until I have enough capital to endure a flip in case there are unexpected cost, which from what I hear there usually are. Ultimately I want to get into buy and hold but that is a little further down the line.  

You have to first pick a strategy wether it is buy and hold, fix and flip or wholesale. Where you start really depends on your level of comfort and your available cash and credit. Literally you can start from any situation but there are different advantages and disadvantages depending on your situation and strategy. We aren't far from each other and wouldn't be opposed to working with someone to get something rolling. I am no expert but 2 brains are typically better than 1. 

@Lane Mccracklin Actually at this point it is my primary residence but I do own it free and clear. What I am looking to do is use the equity I have to push me forward and then in the next 12 months turn it into a rental. 

So I am rookie relative to Real Estate investing but I would like some feedback on my current process and some of the issues I foresee facing. Currently I spend an hour a day driving for dollars (seeking out distressed properties). I then take those addresses and scrub them, removing.. 

• Bank Owned 
• Recently Purchased 
• Owner Occupied (with up to date taxes paid)
• Mortgages in the last 8 years or for amounts that are extremely higher than the house could be worth 

I then move the properties that are remaining into a spreadsheet, I have 2 waves of marketing one for the beginning of the month and another for the middle, by July 1st I should have 100 total properties on my spreadsheet. I send mailers out once monthly. Now what about this process would you suggest changing or tightening??

I foresee finding cash buyers and a title company, that will be fine with closing with assignment, once I do secure a deal as an area of opportunity for me right now. 

Any suggestions thanks in advance for whatever feedback you can offer.

And Go Blackhawks!!!!!!

- Jerome 

Welcome to BiggerPockets. Best of luck to you and perhaps we will cross paths one day. 

Hi and welcome. I am newer to BiggerPockets as well but I can tell you that anything you will learn in a system you will learn him for free. The forum post contain so much wisdom from those who have done what we are trying to do, this site is literally a gold mine. Read a lot of posts, read some of the recommended books and listen to the podcasts. Best of luck!

Can anyone recommend a wholesale friendly attorney in Illinois, preferably the Chicagoland area? I have yet to meet one and actually had one tell me that they don't deal with that "funny business". 

Any advice helps, thanks in advance!

Welcome to BiggerPockets @Phillip Dunbar! The site has been extremely helpful to me in my pursuit and I'm sure it will do the same for you. 

Wow just wow!