All Forum Posts by: Paul Z.

I just completed a final "rough" draft of a business plan for 2014 in the Chicagoland market. I'd like to have some of the "active" and highly credentialed members here review it. Any opinion, analysis, advice etc. would be GREATLY appreciated. Thank you!!!

If you'd like to help send me a message or drop a line here. I'll get in contact with you shortly before I send everything over.

Paul

Hey everyone! Hope your Thanksgiving holiday was amazing. Any new news on the meetup group? Also have we decided on a second meetup date? @Carolina E.

@John Rooster could you elaborate? The information I'm getting is the same information available to everyone. You could guess where I'm getting it from and you'd probably be right.

In pretty much all major markets across the country pre-foreclosures have declined, however auctions and REOs are on the rise. Most likely because with rising property values banks are more quick to repo these props and get them back on the market to hopefully benefit. It's also probably because they are now finally catching up on their paperwork.

What I'd like to know however, is how this may effect the asking price of the REO props once they begin to flood the MLS listings? This is a particularly loaded question I know.....

I'm in the Chicago metro/urban markets btw so our situation is unique. We have growing home sales but stagnant contract activity and declining pending home sales Obviously seasonality plays into this however I believe it goes deeper than that.

Thoughts?

I'm looking for data regarding loan delinquency rates at the state level. Specifically Illinois at the state and metro level for 30/60/90 days. The MBA just released the report a couple days ago however they're only providing data at the national level. If you want specific data you'd have to front a large amount of $$$.

Does anyone have access to the report that could provide me the basic inference? Thanks!

Looks beautiful @Jeff Hunt ! Can't wait to hear what you sell this property for and how fast! Best of luck!

Part 2 of my "You Become What You Think About" Daily Routine was posted last night. Check it out!

http://chicityrei.wordpress.com/2013/11/07/you-become-what-you-think-about-positive-conscience-statements-part-2/

Also, accepted a part time job yesterday with a building material and home improvement company as well as completed a lot of my business plan. I've also solidified 1 more person to my team with multiple meetings for other members setup for next week!

Persistence, Desire, and Faith! Keep moving forward!

Then after reading what Chadi D. recommends read "The Book on Estimating Rehab Costs" (it's included in the purchase of The Book on Flipping Houses).

Another good read is "Inspecting a House: A Guide for Buyers, Owners, and Renovators" by Carson Dunlop and Associates. This book doesn't appear to be in print anymore so you might want to try and pick it up.

Good luck!

@Ryan R. @Edward Burns Perfect! Thanks guys.

Holy cow last week was crazy.... So much happened between interviewing accountants, getting referrals for other team members, starting market analysis, meeting with other rehabbers I don't even know where to start!

I'm going to try and take time at night all this week to update my blog and what happened exactly last week.

For now, does anyone have any suggestions on where I can find population trend analysis at the city level for say from now till 5 years out? I've spent waaaaay too much time on the census.gov website today finding nothing that I'm looking for. Any suggestions would be greatly appreciated!!!! Thanks!