All Forum Posts by: Mateo Carrera

What do you guys call good numbers. ? What is your criteria. What are you looking for. How much capital do you wish to deploy. Im sure there are deals everywhere. We all know the MLS is dry and most of the deals I have come across from "wholesalers" are just trying to move stuff that no one wanted from the MLS. But then again I don't want to speak bad of wholesalers I know that I have not looked for one. But there are deals everywhere you just need to know what your end goal is. A flip from a buy and hold have very different strategies.

Yes joliet has very good inspectors. I would say you do everything by the book you won't have any problems. But if u cut corners. You might get on their bad side. I did all the work my self. Only think I contracted out was the cement because it is a hard and laborious task from breaking it up. Removing. And getting the new one layer out fast enough. I do reasonable sized stuff. But in this case it was about 70% of the whole walk out basement with a 20x12 covered porch. So contracted that out. Everything else. Did it my self.

Yeah Joliet requires contractors to pull permits Unless its for your principal residence. Then u can act as a contractor. Yeah 70k sounds about right all in. Example acquired asset at 30k. And don't remember exact numbers. But less than 40k so I'd say if you don't go high quality finishes and stuff. I'd say average interior. I got everything from menards. Note. I did not do roof or siding. Most of the houses have decent roof/siding. Because there was a tornado couple years back. And almost everyone got new roofs n siding. But I did do new concrete in the basement/patio. So I would guess give or take about the same cost as a roof n siding. I just had it appraised this December and it came back at 137k

All my deals have been MLS. lot of really old homes in Joliet. 30-50k on MLS most need major rehab. But once rehabed 130-150 ARV

Im guessing its a SFH right For some reason I was thinking apartment that's the 800 a month a was talking about. I got a SFH @ 1500 month they pay all utilities as well. By the pictures on ur website I think its close to mine.

I second joliet as well. Look into aurora also great investment are w a lot of the houses being 2 units.

That's awesome yes joliet is definitely hot. I just leased out one of the units. Phone went crazy vm filled up. Keep up the good work All my joliet investors. What's the average rental for a 2/1 unit. Im at 800. Just wanted to see where everyone is at.

I think it's around what I have herd they charge for this area. But I have never used one. So I can't recommend anyone.

Taxes 2k-3k Demand for rentals on west side are high Vacancy cant give you a percent because i have always had tenants ready before the people move out. But allocating 10% Id say average rent in something decent is 750-800 2 bed 650-700 1bed Mostly C class in my opinion atleast where i invest. Joliet is big enough that has sections of every class of houses.

Congrats that is awesome