All Forum Posts by: Charles Wheeler

thank you so much for the feedback! That's why I love this place!

I  allowed a section 8 tenant to move into my property In Chicago Illinois. in our signed agreement It states that she is responsible or all utilities. I called the gas company and they said that she cannot get the gas turned on in her name because she has a past due balance of $500. ( she doesnt have the money to pay) the gas is still on in my name and it is still being used. What should I do? 

@Jon Holdman I love the subject to strategy. Im thinking taking over the property subject to, then get a qualified renter in the bottom unit refinance at 80% pay off existing mortgage give my friend $35,000 become outright owner. Would that work?

I have a buddy who bought a duplex in Chicago about 1 year ago using FHA loan, he has owes $58,000 but it's worth $160,000. He recently lost his job and the bank won't allow him to refinance and pull out any equity. Is there a way that we can work together allowing me to assume ownership and pull the equity out? I Have a fulltime job and I'm a Licensed real estate agent. Please Help

I decided to go the route of attaining my license before I started investing. I am looking for some guidance on the route to take while investing. I live in the Chicago land area. I was thinking of acquiring a 3 or 4 flat using the fha 203k or Fannie mea homepath rehab loan.

My credit is 680+, fulltime job 4rs, few thousand in my 401k and a couple in the bank.

I once read that the best way to get started is to do 1 or 2 flips in the beginning, can anyone attest to this? PLEASE HELP