All Forum Posts by: Sarita Scherpereel

Thanks for the mention @Jonathan Klemm. 

There are options in other neighborhoods in Chicago.  For most House Hackers, the numbers are as important as location. Due to the commute issues they could have going to far away from public transportation. The location also helps with the numbers. You will have higher rents when you are closer proximity to the El. I have a lot of clients looking outside of the northwest side of the city in areas like Berwyn (to name one) because the numbers work better for them there. 

House Hacking is very specific to your personal and financial needs. It takes time to see how you can create your financial goals while you're balancing your personal needs.

Don't get discouraged. Remember Rome wasn't built in a day but part of it was. You're on the right path by being on BP and starting your education! 

@Jesse Aaron Everyone has limits on a real estate transaction. Lots of people of BP have high levels of tolerance for work or adding value by updates. You have to follow your own intuition and level of pain. If it seems like a lot to you, get other contractors out to see work. Share the inspection report and get feedback from experts in those areas (like electrical).

For me, this is all very easy to work with. I've seen a lot so my threshold for pain is much higher. You're asking good questions and it sounds like you're I'm the right track. I agree with what other people on this thread are saying about permits and the credit amount. For me if the Work is limiting the ARV and the seller isn't willing to give more credits or renegotiate then walk away. If the those numbers don't work. There will be other opportunities!

@Jonathan Greene I agree. OOS require more communication and commitment on both sides. It’s very important to find a broker that has the time to commitment. Sometimes the new(er) agents are the best for this. At least I feel like that’s how it goes in Chicago.

@Mark Cios I met a lot of wholesalers at the Midwest Real Estate Networking Summit. I think last year that was mostly what I left the event with. But I agree with the other insightful posts meetups are the best way.

We'd love to have you Lyman. We offer free seminars, the third Wednesday of every month. Usually at the Pony Inn. Let me know if you have questions.