All Forum Posts by: Steve Franco

Great wholesale deal.  U shaped ranch, minimal (if any) work needed.  Better for a rental option than a flip, due to the minimal work.  Similar comps in the area have gone in the $250k's all the way to over $300k I've got it under contract and looking for a quick close in the next 3-4 weeks.  Email or message me for pictures, comps and more info.

[email protected]

312-882-1396

Hey All, 

I have a potentially good deal, but I have no idea how to price it.  It's a mobile home, and I've not dealt with them before.  It seems as if I could make potentially $5-6k, but I just honestly don't know if thats correct or if what I'm looking at is comparing apples and oranges.  Any suggestions or resources would help.

Some info on it, it's a 1994, with new flooring throughout.  2 bed 1.5 bath, 900sq ft.  

Thanks guys!

Thanks everyone for the replies. This is a GREAT opportunity. With the rehabbed comps from the last 6 months (within 5 blocks of the subject property) theres about $155k on the low end and $215k on the high end between current asking price and ARV, and it doesn't even need to be gutted. That being said I just don't have enough capital and liquidity to pull it off currently.

If any of you are interested in this deal for yourselves please let me know, I'd be happy to work with you to acquire it and then help sell it after it's rehabbed.  I went through it this morning and took detailed photos and videos and started assessing it so I could provide a broad scope of work.

Thanks guys!

Thanks guys!  Looking into all of these.  @Yan P. I DM'd you.

Wish I had looked into this just a BIT sooner as I found one last night where the spread on it is huge.  In a really hot neighborhood and the comps just in the last 6 months of same style within 5-6 blocks are REALLY HIGH. It's gonna go quickly though I'm sure.

Hello Everyone,

So my team and I at the Hughes Group have been working with some out of state investors to find them properties to flip in the city with large spreads.  They are very particular on what type of neighborhood it is, and have passed on a lot of solid deals with lots of upside even for a near gut rehab.  That being said, I am considering jumping on some of these deals.  Can any of you recommend some hard money lenders in the area that you've personally worked with (not just know of)?  Thanks in advance!

Hello,

I have a double lot under contract in West Englewood neighborhood of Chicago.  One of the lots that has a duplex on it that will need a tear down, and the adjoining lot (included in the sale) is vacant.

Call me if interested

312-882-1396

This is great advice, thank you!  I'll let you all know if I move forward with this property.

So, I’m in search of my first rental. Looking for duplexes in the sub $50k range, which limits me to low income areas and small towns. I found a duplex for sale in a small town, even VERY conservatively the numbers look great (thanks BP Rental calculator!!!). My biggest concern is not if it will cash flow, but if in such a small town it will take very long to find renters. Both units are currently rented but the leases will be up soon and I dont know if the tenants plan on re-upping. Anyone have any experience or insights with these small town rentals? The town has 13,000 people only Thanks!

Very inspiring! I'm just getting started, haven't even bought my first rental yet but in the market.  Trying to figure out WHERE.  I'm in Chicago market and have limited capital, so I can't buy here right now.