All Forum Posts by: Nicholas Pascullo

Don't panic sell! This is part of the game. Especially in Chicago. I had 3 pipes burst this winter.

Hello BP! I have a single family flip project in Chicago, IL.  We are partly done with the renovation, and our contractor can't continue working. I'm looking for an experienced contractor who has a little bit of time before the next project and can do about 3 weeks' worth of work.  I'd appreciate any referrals or direct messages from contractors. We have 3 projects going currently, and more in the pipeline, so there's more work in the future as well.  Anyone have any suggestions? 

Hello BP!

I need to find an agent who works in the south side of Chicago(Roseland/Pullman especially) and is familiar/experienced with commercial multifamily(6+ unit) transactions.  Similarly, I am looking for a lender that is experienced and deals with the same.  Any referrals( even if it's referring yourself! )  are appreciated!

Thanks,

Nick

I have to replace two concrete walkways in front of my house in Pilsen in Chicago.  They lead from my front door to the main sidewalk, and they are suspended over a lowered area in front of my house.  The support beams are rusting out, so I would like to replace these walkways.  Does anyone have experience with something like this, who could recommend a good contractor?

Sorry, I guess I was unclear. The building has just been gut rehabbed, and I'm buying the product! It's a turn key home that I'm buying. It's just east of Damen, right off the pink line. 1906 W 21st Pl is the address. The listing is on MLS/redfin, etc

I'll live in it for a year, but with me paying myself rent it should cash flow at least $700/month

Hi BP!

I just went under contract for a gut rehab 4-unit in Pilsen, Chicago.  It may not technically be Pilsen but is definitely part of the Lower West Side neighborhood.  Basically, after the offer was accepted I became worried that I offered too high.  Is there anyone on here that knows west Pilsen/Heart of Chicago well?  I'd like some peace of mind that $600k on a gut rehab 4-flat isn't a crazy price.  It's hard to find comps for gut rehab 4-units in the area!

Thanks @Brie Schmidt @Crystal Smith @Max T. for the great advice.  Coincidentally I had an offer accepted shortly after making this post!

Hi BP!

Basically, I've put in offers for two multi-family properties in Chicago. One was in Logan Square, one in Irving Park. Both offers lost to other offers. In one case, the seller disclosed that he had accepted a cash offer, which beats my FHA offer. Fine. In the second case, I got no context at all. In neither case was I offered the opportunity to come up in price. I think people are scared of FHA financing contingency and inspections.

My question to you knowledgeable and experienced sellers is this: is there something I can do, as an FHA buyer, to make my offer look more attractive? Has anyone had success buying with FHA in a hot market, like Avondale, Humboldt Park, Pilsen, Irving Park, Logan Square are today in Chicago?

Nice!