All Forum Posts by: Mike Chubb

he's 66 now and I guess he's gonna retire in 2 years that's not gonna change...my sister has very bad deliquent credit so him getting the loan is the only option she can't get a house not for another 3 years she needs a house now...so what loan programs allow for purchase and rehab of you already have a mortgage?

I'll also say that he doesn't have enough equity in his current home for extra money

hi guys and gals I have a question my father wants to buy a home for my sister he already has a mortgage with the VA he's a Vietnam vet he doesn't have extra cash on hand he does make very good money 120k a year and he's just started getting s.s. benefits at 1400 a month the home he wants is 125k and the seller is taking off 12k because we know them and it needs a roof and other cosmetic fixes so selling price is 113k my sister wants to do more rehab and give it an open floor plan so about 50k what loans will give us the purchase price plus rehab?

anyone know if there is an angel lender in illinois or a lender who won't want skin in the game?

anything I could maybe work out with the owner in a creative way?

I would like to add that it'll be a total of 33,000 for me to gain control and then I can move forward to renovate and pay off the other liens 23k to the tax buyer and 10k to the owner 

ok I have a 3/2 brick home in Franklin park illinois that a in cook county ok here it goes the owner wants 10,000 it has a total of 72,000 worth of tax liens and village violations(water and maintanace) needs 74,500 in repair. ARV is 170 to 175 there is a rush to get 23,000 from the tax buyer before August 14th or I lose the whole deal I'm considering getting the property for myself to hold for a few years then sell my credit is terrible and I know I can't get traditional financing for this distressed property what can I do?

purchase price is 2,500 owners wants to let it go all the tax liens are 57,000 so that's may purchase price cause I can't get past that how ever I called the village and they'll drop them by 50% so now my price to clear title is about 79,000

found a good deal untill the FOIA came back today and crushed me 15,000 for water 26,000 for grass cutting and 3,000 misc items. I can purchase the house for 57,000 and rehab for 55,000 =112 but now with the village incumbrences it's more like 101 purchase and 55 rehab which will make the property right at ARV and no room for profit is there anything that can be done about those village liens? Any tricks or things you guys know that can help me? Or should o just buy it anyway and rent the property and pay those liens over time? Or just buy and fix and make nothing just to get the experience?

have a rehab and need a good GC that's preferably in the cook county areas of illinois suburbs outside of Chicago and referrals would be of great help thanks