All Forum Posts by: Leslie LaBranche

Hello all,

I'm interested in taking the real estate developer training with Jerome Maldonado here is a link to his website https://jeromemaldonado.com/ I want to know if anyone has taken the course and what was your experience with it?

Hi Louis, thanks for the response.  Yes, my credit is excellent and I'm prepared for the down payments and any closing costs that may be necessary the only thing I believe I'm missing is the experienced builder to work for me. 

Hello all,
I want to build a new construction 4 unit apartment building.
I have general contractor experience buying and rehabbing properties but I've never built new construction.  I want to be the general contractor on the project and pull all the permits myself and purchase all of the building materials myself but I want to hire subcontractors in each trade to work different aspects of the project.  

I've heard a lot of experienced people tell me this isn't a good idea but also I've talked to other experienced builders telling me yes it can be done.  The reason I want to take on this task is that here in my market in Illinois there is a need for this type of development.  

I also believe that by doing it this way I can significantly reduce the cost instead of hiring an experienced builder to GC the entire project.  I want to know the opinions of anyone with experience or knowledge about this.

 Hi Zachary thanks for responding.  You are correct I wanted to post another thread about the construction side of it also but wanted to get expert opinions first on the dynamics of the tenants that will occupy the building.

 Thank you Crystal for your response that's definitely something I will need to do.

Hi Samuel, thank you for responding yes the lot is zoned for the 4 unit I'm going to build but I didn't know about the needed fire suppression system thank you for that information.

Hi Jonathan thank you for responding.  I'm only assuming about the number of children that will be in the building but I will say that with me communicating with the Chicago Housing Authority they informed me there is a need for more 3-4 bedrooms for sec 8 voucher holders in Chicago and many of the voucher holders have children with the need of this many bedrooms or more.  From what I know many of the people that have been issued 3-4 bedroom vouchers have children.  

I do already own the land it is on the south side of Chicago. 

I intend on using private lending and I estimate this project will cost about $350,000-$400,000

 Thank you Frank for your input.  I have thought about buying existing properties but the competitiveness for 4 units in decent areas is a lot more than I'm willing to pay.  

Thank you for your feedback I will definitely speak to other Sec 8 landlords. 

Hello everyone,  I'm interested in building a new construction 4 unit apartment building with at least 3beds and 2baths for each apartment and I will rent them out to section 8 voucher holders.  I'm in Chicago and there is a need for more sec 8 apartments with this amount of rooms for many voucher holders that have children.  My concern is that the tenants may be unhappy with the possibility of the number of children that will be living in the building.  Potential noise or damage.  I'm not sure if I'm overthinking this or if this could pose a problem.  If anyone has any experience with this please let me know what you think.