All Forum Posts by: Mark Davis

Have a sfh I closed on in Chicago. A broker I know wants to invest a little money into the deal but wants to split the profit. I don't need him for the project and he only has about 15k to put towards the project that will cost the better part of 100k. This would be my first partnership if you can call it that but I see it as more of a financial investor than partner. So I guess the big question is, is it fair to offer him 25% on him money. Because splitting the profit with that little invested is ridiculous to me. Any thoughts or insight would be greatly appreciated. Thanks in advance. 

Thank for all the input. Yes Ruth there are two bedrooms on the main floor. And I usually stick to the concept of keeping bedrooms for value. But Jeff I agree with you whole heartedly that buyers are now more sophisticated and are looking for certain things and design aspects in a home, thanks largely to these home flipping and design shows on tv. Thanks again for your input. 

Hello all. I have a rehab project that I need some input on. I purchased a 4bd 2bath home that I'm flipping in Chicago. There's no formal dinning area and the house is very sectioned off. There are two bedrooms on the main floor and I was thing of getting rid of one to create an open concept and provide a dinning area. Do you think this is a practical decision or would you leave the bedroom?Thoughts anyone?

Yes, the HUD situation is definitely being taken advantage of. You can get away with it for a buy and hold, but not flips. I had at least 3 taken from me for the so called owner occupant

Great info, thanks. 

Sounds interesting, can I have more info please 

@Scott Steffek I would love to hear more about Indiana property. Pm me Scott

I really admire you genuinely wanting to help,I really do. But if he's at the court steps already it's probably too late to save. By the time he tries to talk to the bank about a short sale it'll be sold already. The truth is we can't save everyone. As much as we may want to. And if he has a lein against the property it's a waste of your time and money. Especially if the home isn't worth what he owes. It's too many unknowns for me to even think about trying to put money into. But best of luck 

Hey Mayrasol, if you can send me pics or pm me. Would love to take a look at it

Hey nick, let me know when and where. Always good to network and learn.