All Forum Posts by: Sam Sav

@Tomie DeRocher

Have a storm restoration contractor inspect your roof. Most offer free inspections and they can see if you have a good case to try and get your insurance to pay for the roof replacement either by wind or hail damage. I would not file a claim for ice damming that’s not a covered. They’ll probably pay for the interior damage but will deny the roof. Unless you can prove that there is storm damage there

Wendell De Guzman I think this is a great thing you're doing and an awesome opportunity for locals here in Chicago to be able to attend a meeting like this and for it to be free. It's great to someone local share their successes and their failures and really reach out to people to help. I've never attended a meeting before as I am introverted but I think it's time to put that aside and do more to help myself succeed. I don't know If you remember me but I messaged you a few weeks ago with a colleague request and told you I'm very interested in flipping houses but I'm currently planning for a wedding in May so I have to hold of until after the wedding. But I will definitely attend this event because wholesaling and flipping go hand in hand. And I would be very interested in connecting sometime very soon after the wedding for a JV or any other way I can be of help to you while gaining knowledge and experience from you. I look forward to meeting you

In my opinion I think a lot of it comes down to comfort. Sitting in your home and reading about other people's successes and failures. The reason I say this is because just last year I made the decision to buy my first SFH at the age of 23 and I didn't know much about real estate and definitely didn't know of BP. So I didn't have all the resources I do today I just went out and got an agent and start looking for houses and went with my gut and bought a turnkey SFH that I rented out 2 weeks after closing and brings me a profit of $500 a month after expenses. Even when everyone was telling me not to do it.

After learning about biggerpockets I started reading a lot and I noticed the more I read the harder it was for me to take the next step. I had a clear plan of what my next step would be but I got caught up in the threads of what's right and what's wrong. I'm not saying educating yourself is bad and sure you can say I probably got lucky with my first property but I'm glad I did it because it worked out great and I think I just need to go back to my plan and execute it  

So in my opinion I think people get scared on here thinking that their way is wrong. And you gotta follow the most successful investors to get it right otherwise you will fail. There is more than one right way you just gotta get out there and do what you believe is the right way for your situation 

Advantages to floating floor is doing repairs is fairly simple. You can easily split the wood open and replace the damaged boards. With glue down its not as easy to do repairs.

I'm not very experienced but I do know you need to watch out for HOA with condos. Any little income you can make can quickly be eaten up by HOA fees if you're not careful. Due diligence is a must

hey guys I was wondering if some of the local investors here in Chicago know of any local banks or credit unions that are investor friendly and provide loans that include rehab costs in the loan amount? I went to a local credit union in oak lawn and they said they only do conventional loans with 25-35% down and no rehab loan because they're not licensed to do that they said. 

I have very good credit (above 760) and good income. So I shouldn't really have a problem getting approved. I also have about 40-50k cash available but I'd much rather use a loan instead of using all my savings rehabbing a house. 

If anyone local had an recommendations I would love to hear it

I'd like to hear this answered too. I'm considering trying credit union myself. One benefit is they're willing to offer loans 50k and under. Most banks won't.

After hearing many good reviews on the book of flipping houses I decided to order myself one and it came in the mail today. I have to say it's pretty addictive. Been reading it for a few hours and realized I've read over 100 pages already. It's definitely a good book for a beginner like myself trying to get started into flipping. I give it an A+ so far

I've only bought one property and my agent gave me a $50 card to Home Depot and a thank you card. Wasn't expecting anything, didn't even know it was a thing so I thought it was pretty nice of him

Realtor.com app. It's great for checking recently sold houses in the area and what people are listing their houses for rent in the area. And I find it more up to date than zillow and trulia. Zillow still shows some houses on there that on realtor shows it recently sold and for how much.