All Forum Posts by: Zach Shuta

We have available a brick single family home located at 7915 S Wabash, Chicago, IL 60619. This home needs extensive rehabbing but with it's second floor living space and hot south side location, should be worth between 180-220k after rehabbing depending on the level of renovation. Finish the basement, add a garage, new roof, and remodel entire interior for top dollar.

Owner is looking for a quick sale due to delinquent taxes but they do need some time for move-out so we can hold some of the sale proceeds in escrow until the family is completely moved out within 60-90 days.

Follow this link for some pictures and comparable sales.

We are asking $40,000 which you'll see is below the sale price of any similar distressed homes that have recently sold on the market.

We project the repairs to cost an estimated $90,000 for a full rehab. The first buyer to post 5k in earnest money with our attorney's office will get the deal. Buyers pay closing costs including all title, transfer fees and local transfer costs. Brokers and wholesalers are welcome to add their commissions. Buyers should do their own due-diligence as property is sold As-is with no guarantees from seller or brokers.

2130 W Coulter – 2 unit brick building

Pilsen – Heart of Italy - Little Village - available way below market for a cash buyer that can close quickly.

Zach Shuta – Real Estate Broker – eXp Realty

Asking $150,000.00 - Property available for immediate assignment of contract and quick closing.

Description:Located on a small lot and needs full gut renovation. Potential value of 400-500k depending on level of rehab.
Renovate first floor with a duplex down to the basement for a large 1500sf 3 bed2bath unit and the second floor as a small 2 bed 1 bath unit for an estimated value north of $500,000

Estimated Rehab: Roof, Windows, full interior, some masonry – 150-200k depending on level of rehab.

Building does back up to another building, therefore higher end comps of 600k were not used in our evaluations due to lot size limits.

PICTURES

Attached is a detailed summary with Comparable sales and other additional information. Buyers, please do your own due-diligence. Deal goes to first buyer to post $20,000.00 assignment fee in escrow with sellers attorney's office and sign assignment of contract agreement for a quick closing.  

We have an off-market opportunity ready for your next flip or cash flow play! 8132 S Marshfield is a Brick 2 flat that is available for a quick close. Asking 50k, Sold As-Is.

This property is located on a great block in Auburn/Gresham Neighborhood and is currently vacant and needs a full renovation. The windows and structure are in good condition, but interior, roof and garage need attention. The building features two 2bed/1bath units each with a rear den/addition. The basement offers high ceilings and the mechanicals are largely in tact. Buyers should do their own due diligence before making an offer.

Pictures and inspection report

Rehabbed 2 units in the neighborhood range from 140k to 230k depending on level of finishes. Some of the recent comparable sales are as follows:

7928 S Hermitage Ave , Chicago, IL 60620 - SOLD in MAY for 139.9k

7951 S Paulina St , Chicago, IL 60620-4524 - Sold in July 155.9K

8150 S Marshfield Ave , Chicago, IL 60620 - CTG - 159.9k

7838 S Loomis Blvd , Chicago, IL 60620 - SOLD in Aug 172k

7934 S Loomis Blvd , Chicago, IL 60620 - PEND - 230K

units should rent for s$11-1200/m.

Sold As-is. Buyer to pay all closing costs including title fees, transfer fees and their own legal fees. Selling to the first buyer to execute all-cash purchase contract with 3k earnest money deposit.

Contact Zach directly via email for showing requests. Please include proof of funds.

I agree Andrew Johsnon

Think about it this way.  You want to be a wholesaler.  Which means getting deals below market value or with opportunity to market to investors with a fee/profit built in for you.  You ask a realtor to help.  Any realtor that understands what your goals are, stops and says, "why place low offers like this for this person to sell off when I can just make offers for myself to sell?"  

If you want to get a license feel free to reach out.  But you don't need a license or mls access or properties on the market to wholesale or invest.  listen to as many Wholesaler Podcasts as you can this week and you should have some action items that work.

I highly recommend reaching out to local wholesalers and attorneys.  You may be able to find some on the marketplace where they are listing properties in your area.  Some may be licensed and know the angles to play.  

I'm licensed and have been part of wholesale deals many times in my area.  To learn how to do this I partnered up with other wholesalers and non-licensed people during deals in the past.  While that sometimes leads to sharing profits, it's often worth it to have a local expert help facilitate, teach legalities and even find buyers.  

Lastly, seek out a wholesaler friendly attorney.  I have an attorney that understands the process in our area very well so I'm sure there are a few attorneys in your area that have done a ton of wholesale deals.

Check out this Pre-market deal.  We are finalizing our 3rd floor sec8 tenant with plans to list on the market for owner occupant buyers by early Feb.  The building is in great shape with recent updates to kitchens and baths.  Top two units are sec8 with tons of living space.  First floor can be rented for 1200+ or an owner occupant can buy with low money down, move in and live for free.  Fully rented pro-forma is at 12.5%cap.  Located across from two schools and next to a new private school gym. 2nd floor tenant pays 1041/m but has been in house 25+ years  (increase possible).

PICS

3 units. 1600sf each. 9beds/3ba total. total rent should be 3450/m with NOI north of 30k/yr.

Features: 3 car brick garage (more income potential), full unfinished basement with new boiler.  New rear deck, 3 yr old roof, 10 yr old windows in most of house (except front facing windows on first 2 stories). Recently updated baths and kitchens.

Price subject to go up once finishing touches, additional tenant is stabilized, and professional photos are in.  This is the type of rental you want. PM Me for more info

We are offering 9625 S Forest Ave for an immediate assignment of contract at a total purchase price of 80,000.00. Sale will be As-is and buyers must be cash buyers or privately funded by a source that understands assignments. The property is a brick 4 unit building, currently partially occupied but can be vacated by Nov 1 at which time we can coordinate an immediate closing. The building does need repairs and we estimate approximately 15k per unit in repairs/upgrades along with 20k in general building repairs. Each unit is comprised of about 800sf with 2 beds and 1 bath. Buyer pays all title costs at closing.

Pictures

Rent role should be no less than 800/unit at an annual gross of 38400. Expenses estimated at around 12000.00 (conservative) and NOI at 26,400 for a CAP rate of 16.5%+The repairs include:
Interior: carpet 8K, rental kitchens 4x 6k, rental baths 4x 4k, paint 7.5k, and 5k miscellaneous (drywall patching from previous leak that has been repaired).
Exterior will likely need some roof work and brick tuckpointing. Estimated at 20k to be conservative.

Comps are as follows:
9535 S Forest Ave , Chicago, Illinois 60628 - CTG - 2 units rehabbed10024 S Forest Ave , Chicago, Illinois 60628 - Closed - 2 units - rehabbed

As-is - similar condition
9630 S Forest Ave , Chicago, Illinois 60628 - CTG - 2 units - As-is needing rehab657 E 92nd Pl , Chicago, Illinois 60619 - Pending @ 319k - smaller 4 unit, boarded up. not sure of the story here?

Welcome to BP and congrats on getting into the game!

@Brian H.

Get in touch if you're looking for a wholelaler/broker team to help you get into a deal.  We are managing Airbnb's in bronzeville and it's heating up like crazy over there!  Wish you the best in your hacking!

please add me to your buyers list and let me know what deals are still available.  [email protected]

Check out this 6 unit in calumet city available for immediate assignment of contract. The property has a new roof, recent tuck-pointing, new porches and everything is in great condition. Current rents at 61500/year with NOI of 35k/yr+. Raise rents, rent out the 2.5 car garage or just sit back and collect.