All Forum Posts by: Walter Myers

I recently saw a 113pg inspection report. As the others have stated, it is all about thr property and the location. I may hold off on a roof in a C/D area if it will last me 3-5 more years. Although I am a big fan of replacing mechanicals in my rentals up front. Go through your list and separate the 'Do right now' from the 'Can wait a while'. See what you come up with. Remember, anything can be fixed. But what will it cost? And can you find something comparable for less money and less headache?

Excellent idea! Thanks Ryan.

Hello All!

I am looking to connect with Realtors in Poland and the Philipines. I have sent emails to the 'office' email of brokerage firms and even called but the response has been lackluster.

Does anyone have any ideas or contacts they could forward my information to? I understand this is a blind feeler, so feel free to PM me.

Thanks in advance!

Walter

Thank you for reading my post regarding Smart Homes.

I am a Realtor in Chicago, Illinois and one of the Area Managers for Thorpe Development East. For our July 2018 worldwide launch I have been tasked with recruiting Realtors in Poland for the eventual sales of the Smart Home product in that country. The design has been completed and the prototypes are currently being built.

I invite you to be an Exclusive Broker for this product in Poland. Below is a link to the Thorpe Development East website. Contact me and receive our brochures and become part of our team.

Company website - http://www.thorpedevelopmenteast.com/

30K for a 2BR - 2 Floors with Basement

2BR/1.5Bth
*NO HOA FEES*
* $850-950 per month for rents*
(Section 8 will pay up to 960/mo)
* Basement finished for possible 3rd BR*
*Hardwood floors downstairs and upstairs*
* Laundry Room in basement with space for storage*
* 1 1/2 blocks from Rainbow Beach*
* Quiet area with older residents on block*

Property is near Ashe Beach Park and the South Shore Nature Sanctuary and Rainbow Beach.

Call or Text Walter for access: 312.893.9592

This is a Tax Certificate that has been sent to the judge and is awaiting the the deed. You can swap your name for ours on the certificate of wait for the deed. 

Andrew that area is called Terror Town, no joke. It is pretty rough but it will cash flow. 

Andrew, the SouthSide can be profitable but it goes block-by-block. Even in the so-called 'hot' areas, each block can be very different. I would look at the numbers but also the area and block.

For example, Roseland is generally a rough area, but when you 'down the hill' toward King Drive it is remarkably different.

Take a drive around at different hours of the day and speak with the neighbors. Feel free to PM me the cross streets I should be able to give you an idea.

Originally posted by @Andrew Huffmab:

I am from Northwest Indiana looking at 5 unit in Chicago. I own rentals in Indiana. Not familiar with this south side area. There are  similar properties that are posted for $900-$1300 in 1 block area. the property has been neglected and needs repairs. I can purchase property from tired owner who would owner finance property with no money down. The numbers look great on paper but not  sure? I am looking for people who invest or manage in the south side of Chicago?  

I started out trying to 'wholesale' properties. The main problem for me was finding a buyer in time to close. Now, I close on them, then market them. From what I have just read in these posts, I am NOT a wholesaler.

What is a 'wholesaler'?

@Dom Allen Behind schedule on the rehab. That never happens, right?

But we just did our second draw on Thursday of last week. Inspector came out on Friday, we had the wire on Tues. There has not been an issue. 

I have had a very pleasant experience so far. Took about 2 1/2 weeks to close on a SFR in South Suburban Chicago. My rep Demetrius Cobb was diligent and super communicative. It was an REO so he was back and forth with the bank attorneys and title company making the process virtually stress free for me.

I just requested my first draw yesterday.