All Forum Posts by: Mark Klinkov

Its a photo of my 11 year old son! And I swear on my mothers life every reply from this community has been: "We love your photo".

2nd my property and you can DM me has appreciated over 3.5% per month, and thats without me getting it reappraised after having completed a very expensive renovation.

This community feels toxic when an admin tells me he does not approve of me posting a photo of my son. I am a single father, we were evacuated from a war zone by the state department. I lost my wife, my houses, my businesses and my dogs. I came to America less than 2 years ago with no money. So, yes its my first deal in America, yes the photo is of my only surviving son.

Thank you Eudith, I am a single father operating 3 businesses. My son is my incredible source of motivation. Let's connect. I am looking to meet more wholesalers, and investors that would consider JV'ing on deals with me.

Thank you Tim! It was a team effort. And I would love to JV with likeminded individuals. I really want to do some Commercial MF deals. I am new to Bigger Pockets who would you suggest I connect with to expedite my journey?

Investment Info:

Single-family residence buy & hold investment in Chicago.

Purchase price: $169,000
Cash invested: $15,000

Took down an amazing SUBTO deal. Renovated and rented the property. Making $500/month in CASHFLOW. My CoC is double digit (obviously)!
I have over $50K in EQUITY in less than 3 months of acquiring said property, and the property is appreciating over 3% PER MONTH, month over month...INCREDIBLE!
Now, I am on to bigger and better deals. Shifting focus to MF, Commercial deals. Very interested in SYNDICATION, and connecting with more wholesalers

What made you interested in investing in this type of deal?

Creative finance is the only clear path to scaling a LEGACY buy and hold portfolio.

How did you find this deal and how did you negotiate it?

A wholesaler brought it to me after the original buyer fell out. I moved very fast on EVERYTHING from inspection to getting on the phone with local property managers. I found many things that would scare the heck out of other investors and used that as leverage to get the assignment fee down from $20K to $5K!!!!

How did you finance this deal?

I used my own savings.

How did you add value to the deal?

I put in a new HVAC, and remodeled the kitchen. Brand new stainless steel appliances, washer and dryer, fresh paint...
The kitchen is absolutely UNRECOGNIZABLE if you see the before and after photos.

What was the outcome?

HOMERUN DEAL!

Lessons learned? Challenges?

Too many to list here, but I will be uploading videos of this deal on my YT channel and social media.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I worked with ana amazing wholesaler, and several Top Tier Transactional Coordinators, a property management company, a great handyman, and an attorney. Every single one of them played a crucial role in getting this deal to the finish line, and getting the property stabilized and rented.

 It's a VALID question. I have over $50K of equity on a SUBTO property I acquired 3 months ago. For every problem there is a solution! And if there isn't one then the people who ask these questions while you laugh at them are the very people who will create these solutions.

Stop shaming ppl for asking questions. This is a community and we should be helping each other. If you don't have anything positive to add...ZIP IT!

 I get all my subto and seller finance deals from my wholesalers. I get an incredible amount of dealflow (deals sent to me) on a daily basis. DM me if you need help with this.

Based on WHAT? I just closed on, renovated, and rented out a SUBTO deal that cashflows $500/month. I walked into instant equity well over $50K. My CoC is in the double digits, and my property is appreciating over 3% per month. In my opinion, SUBTO, and Seller Finance deals are the ONLY VIABLE long term hold solutions that are scalable.