All Forum Posts by: Account Closed

I am targeting SFR in Chicago, usually in the not so good areas, where gentrification hasn't hit yet.

How are you structuring your deals? I am usually buying cash, sometimes paying cash for rehab then doing a refi once I get a renter for positive cashflow then move on to the next project. Is this a good way?

I do watch my guys and act as a general contractor, though your numbers are a bit lower than mine. I budget 30-35 per property for rehab. What is a good resource for getting the materials?

Nah, no need to bulldoze, there is still a lot of things that can be used, the structure, plus the brick. Basically at times I buy 4 walls and the inside has to be completely redone.

So, with that, I am curious as to what everyone on here budgets for that.

I am just curious, what do you guys budget for a gut rehab on like a 1500 SqFt Single Family? I know it ranges, but I am interested in what the different costs are out there. When I mean gut, I mean, putting in new pipes, electric, walls, doors, everything. Even siding outside.

I am looking to cash out about 70% LTV on a NOO property, would WaMu go for it? What banks would be good for something like this? I need to pull money out to get to the next deal.

I have been using it on and off, and it just seem to provide non-sense data I can get elsewhere. Anyone have any success with it?

I am looking for any resources in Chicago, are there any out there specific to this market?

Do you guys think that the Chicago market has hit bottom yet? Or still to come? Are you finding the deals out there easily?