All Forum Posts by: MAHESH RAMACHANDRAN

Does anyone have experience purchasing tax liens in Will County, IL? I am trying to understand the procedural requirements and would like to discuss with someone with prior experience.

Hello I am wondering if anyone with experience in doing rehabs in Romeoville, IL would be able to share with me village/city requirements for doing rehab? What is the general process for obtaining permits and timeline, permit requirements (what sort of work would require permits), and cost of such permits and inspections. I want to ensure I am factoring that cost for the rehab work. I plan to replace roof, gutters, change kitchen flooring, and update bathroom flooring, tiles, and vanity, replace water heater, and some paint job. I don't intend to do any major plumbing or electrical as they seem ok. I am also looking for a list of cabinet suppliers. I could go to big box stores, but I was told that sometimes cabinet suppliers could give some discounted pricing. Thanks in advance for your input.

Eric X. , Scott W. ,Nino Alfano Thanks so much for your input.

@Landon Thomas thanks so much for the invitation to meet with you and Aaron. Unfortunately, I cant make it as I work near Gurnee and have a long commute on weekdays. I would definitely like to meet if there is another opportunity to meet on weekend, monday or friday. @Aaron Mikottis, thanks so much for giving detailed info about specifications. It is very helpful. Good luck with your project! If you are available sometime, we can schedule a meeting. This is your first project, correct? Nathan Waters , good luck on your rehabs! Justin Pillion Are there specific areas in Aurora that you would recommend?

Thanks for the info David. Where in Downers Grove is the event?

Thanks for your response Nick. What kind of home (size, price range) are you flipping in Aurora?

Hi David I will be interested in attending the meetings in Joliet if they have commenced provided it works for me in terms of the timing. Please let me know. Thanks

Hello REI Community

I am a newbie looking to build a rental portfolio and currently thinking about investing in rental properties in Joliet,IL,  Aurora, IL and Bolingbrook, IL. I selected these areas considering that these are sort of low to middle income areas and not too far from where I live. 

I have few questions for the REI community and would highly appreciate the community insights and input.

1) I have seen a few properties in Joliet, IL and they all need some work. Some have old electrical and plumbing lines and need drywall work too. An investor that I met a few weeks back mentioned that the city does not perform any inspections on single family residences prior to rehabbing.  The city is only concerned with multi-family units and does inspections to ensure that everything in multi-family is in compliance with code. I was a bit surprised with that comment. Is it true that one could get away with no inspections on single family distressed properties? For some of these homes, I am concerned about electrical and plumbing issues and would like to know typically how the city/village goes about evaluating these issues for a property that will be rehabbed.  Would someone with investing experience in Joilet, IL be able to provide some direction. While my goal is to do the repairs and rent the property instead of flipping it, I do want to ensure long term when I get ready to sell the property, it will not be an issue to have the old electrical and plumbing.

2) Would someone be able to provide suggestions on what areas/boundaries I should be looking at for investing in Joliet, Aurora, and Bolingbrook, IL? I realize that there are not too good parts in Joliet and Aurora, and I would like to know where these pockets/areas are located, or how to go about getting more info about this aspect. I realize I could get section 8 rentals and I have read about advantages of section 8 rentals, but I am not keen on getting into it now as I am just starting. 

3) Have people used neighbourhoodscout.com for getting info about a specific market, demographics, vacancy rate, and rents? How reliable/accurate is this info?

Thanks in advance for your time and help