All Forum Posts by: Michael Thornton

Hi Chad. Financing is the main contingency to avoid in my opinion. Agreeing to buy the property "as is" is also a better way to structure your offers. You can offer to buy a property "as is" and still perform an inspection however. You won't be asking for credits based on the outcome of the inspection but it allows you to exit the deal if something significant comes up during inspection that wasn't accounted for in your analysis. 

There are many great areas around Chicagoland. I work with several investors that prefer to own multi-family properties near Colleges (Elmhurst College, Wheaton College, etc). Let me know if I can help in any way.

@Nate Shields I'm interested in residential investing, both flipping and buy and holds. 

sounds great, that should work.

@Scot Howat let's meet up for coffee to talk through that 40 unit, ha. In all seriousness, would love to talk through your business and how you go to market in Chicagoland.

Thanks to all! 

thanks for the input @Brandon Battle

Wondering how to approach finance contingencies when working with hard money. I assume that when making an offer, it wouldn't include the traditional contingencies (bank financing) but wasn't sure. Are investors indicating a cash offer even though they are receiving financing after all? Thanks for the input. Want to make sure I'm representing the offer in a true way while also showing strength with a quick close, etc.

Hello BiggerPockets!

I'm Mike Thornton, and I live in Wheaton, IL, just west of Chicago. Previously, my Real Estate exposure was as a licensed Realtor in Illinois and Michigan. Most recently, I've been very, very interested in investing. I work full time outside the industry, but am excited to network with other real estate investors on BiggerPockets. Hoping to transition from information gathering (2+ years researching my market) to action. 

Thanks for having me. 

Mike Thornton