All Forum Posts by: Mike Hepburn

300 Block E 116th St Chicago,IL
Property Characteristics:
Bedrooms: 3 on main floor
2 Bdrm Basement Apt.
SF Baths: 2
Building Area: 1,119
Lot Size: 4,248
Year Built: 1923

Single story house with a flat roof.

The owner made a world of mistakes here.
Starting with buying a rehab project for 40K in 2008.
No experience with Real Estate or Rehabbing.
He saw roof had been leaking, but was told it was fixed.
He hired a contractor and they proceed to fix house from the bottom up.
They put in a New Gibson Medium Efficiency Furnace (80%)
New duct work up into the main floor. (See Video)
Then contractor put new drywall in basement
He charged owner $8000.00 for furnace and drywall!
The furnace has never been used, basement drywall is toast.
They then went upstairs and laid carpet in all 3 bedrooms
and new laminate flooring throughout, balance of main floor.
All the while ignoring the roof.
Flooring cost $4000.00! I have the receipts here.
The walls and ceilings on main floor are 75% ok. Just graffiti on the good walls
They also charged him to paint everything!

After paying these people $15,000 he saw roof was still leaking, he just gave up. That was
about 4 years ago.

Extensive water damage but limited to kitchen, master bedroom and some in dining room. no mold that we can see outside these areas, on main floor. Basement has mold.
The new laminate flooring looks ok, when you get away from water leak.

Maybe able to do partial roof repair, I think ARV should be at least 60k or so with 2 units. Please verify.

If you would like complete address, asking price and link to video and pictures.
Just PM me and its on the way.

Take Your Pick Of Six Chicago Properties @ .48c the dollar (To Verify)
Urgent Highly Motivated - Bulk or Single Purchase - Three of Them Need no Rehab

OK, so here's the deal. The current buyer dragged this deal out for over 2 months,then failed to perform. The sellers are desperate.
Trust me....... this one gives a whole new meaning to 'MOTIVATED SELLERS'.
One has a medical emergency that needed to be taken care of weeks ago, plus there are some back taxes and water bills that need to be paid ASAP.
BUT.............. Even after all of the Fees, Taxes, Water Bills, and the actual ridiculously low purchase prices are paid, you're still getting this package at only .48c cents on the dollar!

Purchase $283,600.00
Rehab $60,000.00
Assignment Fees $25,000.00
Back Taxes Due $6,500.00

PAID BY SELLER
City Water bill due $1,250.00
Back Taxes Due $6,500.00
BUYER'S TOTAL COST $ 368,600.00
TOTAL ESTIMATED VALUE $ 761,000.00
LTV% 48.43%

Please PM For Direct Link To All Info

Sounds crazy but this is a legit deal. I am co-wholesaling this. I don't think we are going to make it by Friday. That was the plan this past Monday. I got this today.

S. Emerald Ave. Chicago, IL 60621  2 Units. Free, if you buy the other 5, 3 of them need no rehab @ 48c on the dollar.  (Need to Verify)

Rehab 55K - Assignment Fee 5000.00 - Taxes 7000.00 - Water $4500 - ARV $220,000

Buy 5 Get One Free
Cherry Picking Also Allowed

OK, so here's the deal. The current buyer dragged this deal out for over 2 months, then failed to perform. The sellers are desperate.
Trust me....... this one gives a whole new meaning to 'MOTIVATED SELLERS'.
One has a medical emergency that needed to be taken care of weeks ago, plus there are some back taxes and water bills that need to be paid ASAP.
BUT.............. Even after all of the Fees, Taxes, Water Bills, and the actual ridiculously low purchase prices are paid, you're still getting this package at only .48c cents on the dollar! 

CHERRY PICKING ALLOWED

Purchase $283,600.00
Rehab $60,000.00
Assignment Fees $25,000.00
Back Taxes Due $6,500.00
(Need to verify these numbers)

PAID BY SELLER
City Water bill due $1,250.00
Back Taxes Due $6,500.00
BUYER'S TOTAL COST $ 368,600.00
TOTAL ESTIMATED VALUE $ 761,000.00
LTV% 48.43%

PM me and I will send you a direct link

Sounds crazy but this is a legit deal. I am co-wholesaling this. I don't think we are going to make it by Friday. That was the plan this past Monday. I got this today.

S. Emerald Ave. Chicago, IL 60621  2 Units. Free, if you buy the other 5, 3 of them need no rehab @ 48c on the dollar.  (Need to Verify)

Rehab 55K - Assignment Fee 5000.00 - Taxes 7000.00 - Water $4500 - ARV $220,000

Buy 5 Get One Free
Cherry Picking Also Allowed

OK, so here's the deal. The current buyer dragged this deal out for over 2 months, then failed to perform. The sellers are desperate.
Trust me....... this one gives a whole new meaning to 'MOTIVATED SELLERS'.
One has a medical emergency that needed to be taken care of weeks ago, plus there are some back taxes and water bills that need to be paid ASAP.
BUT.............. Even after all of the Fees, Taxes, Water Bills, and the actual ridiculously low purchase prices are paid, you're still getting this package at only .48c cents on the dollar! 

CHERRY PICKING ALLOWED

Purchase $283,600.00
Rehab $60,000.00
Assignment Fees $25,000.00
Back Taxes Due $6,500.00
(Need to verify these numbers)

PAID BY SELLER
City Water bill due $1,250.00
Back Taxes Due $6,500.00
BUYER'S TOTAL COST $ 368,600.00
TOTAL ESTIMATED VALUE $ 761,000.00
LTV% 48.43%

PM me and I will send you a direct link

Hi we targeted the highest sale zip codes and that one is not on my list

Thats the only one?

Hi Sorry Donald, still have to pictures taken and get under contract. Will let you know ASAP

Have off market properties available. Well under 100K in zip codes.
60505 and 60411

Chicagoland and Chicago

Just started marketing in Chicago and 2 deals dropped on my desk.

Putting out some feelers before putting under contract.

1/ 4 bedroom 2 bathrooms Tri-level
Chicago Heights, IL 60411
1400 sq ft
Lot: 8,580 sqft
Built in 1993
Tri Level
Vaulted ceiling
Car Port
Looks like rehab is pretty much done. 3 huge bedrooms upper and one on lower.
Not much wiggle room, 38K mortgage and seller wants some cash.
Need a firm 53K

2/AURORA, IL 60505
Bedrooms: 2
Building Area: 1,092 SF Baths: 1 Fireplace:
Year Built: 1927
Rehabbed 3 years ago.
Roof over the back porch and on the detached 1 car
garage need to be replaced.
Clear Title around 60K

Interested? Call Mike 1-888-758-7832

Welcome Jason

Great Background to with.

Larry Goins wrote an excellent book called Real Estate Day Trading, there is a lot of info in there. Could be on audio, check check Amazons Audio division "Audible"

But certainly start with BP Pod Casts they are free!