All Forum Posts by: Rob Krach

??? In IL typically the seller pays the commission... if it is listed just use a broker, if it isn't google purchase contract pdf.

my advice... don't

Save as much money as you can, buy a house to house hack even if you just rent out the bedrooms, it is something and start there instead of wholesaling.

Wholesaling has to be one of the hardest ways to start, you have to know how to market, find the off market property, understand what the cost of repairs that are needed is, understand the market, the after repair value and then market for a buyer.

@Joe Splitrock, @Crystal Smith, @bill 

@Bill P., @Jonathan Klemm, @Paul De Luca, @Filipe Pereira 
When I do have a vacancy I list the criteria which is all pretty cut and dry at this point. The list above was not all inclusive. I had a very specific objective with the above, however feel like I am actually making more work for myself then necessary.

There were some very interesting points brought up and I very much appreciate those.

Thank you all

@Danny S. you have to do some digging but look for ones that offer lines of credit. also there are a bunch that do no fee credit cards. i have a couple of these all ranging from 6 to 8 % with ZERO fees so a cash advance is treated just like a purchase you just have to go to a bank and do a cash advance 100% worth the 15 minutes out of your day.

@Brad Hammond What if it's a 4 flat and 2 of the 4 units are vacant? In this case utilizing the NOI and the cap rate is silly and a complete waste of time as it is a SFR and not a commercial space.?.?.? my original point stands. we need more info.

@Dewayne Stoker if you are being threatened with a lawsuit... why is your first step to go online and ask internet strangers for advice instead of seeking an attorney??? 100% consult an attorney

These were essential to me getting my first rehab done, my favorite link in the world: 

https://www.depositaccounts.co...

Your post includes almost no information and any response you get is complete fiction without first providing details to help us help you.

Where is the property?

How many units?

Is the property listed for sale? if yes, asking price?

How do you know half the units are vacant? What makes you think it is bad management?

Where?

What kind of commercial property?

LTV?

Sorry for the weird formatting, also I am in Chicago if that helps.