All Forum Posts by: Mike B.

Can't pass on $1 tacos. See you there.

Sending you a pm of my skip trace guy. Not sure if he can help but definitely worth the call.

Selling as is or are you trying to sell it completed?

Hi Phoebe, 203k loan or you could purchase/rehab with a HML and refi out after the property is rented. It may get pretty costly with option B. A 200k rehab sounds like you'll need plans and permits which means it will take longer, probably a year before you complete the project and rent it. It can make sense if you're getting the property so far under market value that the HML costs are a wash but it's rarely the case. What is the scope of work that made your rehab number jump?

 Yeah and the threats he made on camera. 

https://www.youtube.com/watch?v=Jb2hqFW79ZQ

Moreno? One generous donation to his campaign and you can build a high-rise... Although I know he is actively being investigated right now and a buddy is currently suing the city in federal court with Moreno being named in that lawsuit.

Depending where the property is located it may be worth it to dig out the basement and duplex the first unit. Making it an illegal apartment is a risk. While many exist in Chicago, if the city finds out they'll make you demo the unit...setting fire to every dollar you put into it.

I'm interested in buying it if you can't secure partners. Let me know if you decide to wholesale it out.

Sounds like the OP got tricked into "West Humboldt Park"...

Let me know if you decide to wholesale the deal.