All Forum Posts by: Lou Gonzales

I was wondering how a simultaneous close would work in Illinois, if I was getting the money for the buy from the sale and didn't have transactional funds.

You're in the right place, Good luck!!!!!

I was looking for a title company here in Illinois that does dry closings. Now I was under the impression dry closings were prohibited in Il., but I spoke with a company out of Virginia that sends out a notary to where ever you're at and will close both one day and fund the next day when all funds are received. Has anyone heard of this and is it legal.

I don't know Joshua, I'm here in Chicago and if I found a duplex where I could get away with only paying $200.00 and a little elbow grease towards my mortgage I'd have to do it. In time that elbow grease and the mortgage payments will make sure the property appreciates and the note gets paid down, not to mention the tax benefits. Be sure to do your due diligence to make sure they're aren't any hidden liens. As far as moving out, I would think your market rents would be more than your $200.00 resulting in some good cash flow. Or did I miss something? And don't forget you can throw your RE commission into the mix.

 Thank you for your response Aaron, I am scheduled for surgery on Friday however I am awaiting approval from Workmen’s Comp. If for some reason I do not have surgery I’m going to try to make your meeting on Saturday. Thanks again Louie 

 Hello Kevin, my name is Louis Gonzales and I live in Chicago Illinois. Just getting started on bigger pockets again, was subscribed back in 2015. I’m still trying to figure out how to post in the marketplace.  I have negotiated several different types of transactions however things have changed since I’ve done that, I guess marketing is the big thing now. Whether it’s marketing for buyers, sellers, distressed properties, distressed people, I’m not sure how to get started. So hopefully we can figure this out together. Wish you all the best, good luck.

Looking for a mentor to help streamline my business. Need help locating buyers and sellers, discounted properties and distressed properties.

I've heard of him. have never gone to any of his camps but I was taking his online course.

I did go to a boot camp where they had several big name investors but turned out to be more like a cult following. They were experts at getting people all riled up to the tune of thousands. They got us to go outside, gave us an hour to call all our creditors and tell them we wanted higher balances and lower interest rates. They were going to show us how to use them for buying property. However what happened to most was instead of buying properties they bought more courses from each of those gurus. Some to the tune of $20000 to $30000. Thank God I knew what their intent was but boy some people drank like a gallon of that kool-aid.

Now Braden, I would agree to do something like that any time. I've invested plenty back in the late 90s and early 2000s. I was a victim of bank fraud and lost 1.8 mil. After 8 years in court they walked away on a technicality. I owned 60+ units in Evanston Ill. and that destroyed me for about 10 years. Those 60 units were bought with little to no money out of my pocket, thanks to Carlton Sheets. Lol , that cost was $150.00 for his home study course. I remember the first investor I spoke to asked me if I was taking the Carlton Sheets course, funny right? Anyway I wish I can find someone willing to guide me with what is working now. I've signed up for some supposedly reputable mentors/gurus courses costing thousands only, to have them try to upsell me within the week. Just wish I could find someone who is more interested in helping others make money instead of helping themselves to others money.   

Here in Chicago we aprox. 90,000 properties for sale over a 2 week period. Anyone invest in chicago?