All Forum Posts by: Zach Shuta

Looking for an easy rental with great returns?  This 3 bed 1 bath house has been recently updated with new cabinets, bathroom, plumbing, electric.  Basement recently sealed.   Add your finishing touches and rent out for 1200/m.  Deck refinished, private fenced in yard.  

We have an off market brick two flat with garden unit available for immediate assignment in the Cicero.

This property can yield ~$50K profit after rehab or 2400+/m in gross income.

We will be holding showings by appointment, and showing requests with an offer included will be given priority. We review all offers and accept backup offers as well. If you have any questions or would like to schedule a showing please contact Zach Shuta at (312) 818-2554 or by email at [email protected].

If you’re a realtor you are welcome to add your fee over and above the asking price. As with all of our deals, the first to sign the assignment of contract and remit the assignment fee gets the deal.

Description

Hot deal in Cicero. Brick two-flat with garden unit. Straightforward rehab located walking distance to Blue Line. Floors on first floor unit refinished and bathroom updated. Water heater and furnace in garden unit replaced in past 12months. Attic available for duplex up. Unit can rent between $2,400-$2,800/yr for great cashflow as well. Come with your ideas and maximize the upside on this project!

https://drive.google.com/open?id=0B_P-uDte4F7tZ1lqOFhLMWcwSkE

Wholesale Price:$115,000

ARV: $240,000

Property Overview

-Brick Two-Flat w/ Garden Unit

-4 beds /2 baths plus additional 2/1 in garden

-Near Blue Line

-2.5 car garage

-Lot is 3,750 sq ft

-Top unit on month to month lease (renting for $700/mo)

-New hot water heater and furnace in garden unit

-Taxes = $1,200/yr

Comparable ARV Sales

1910 S 57th Ave - 5bd, 3ba, 1,870 sq ft - Sold for $265K on 6/24/16

5208 W 22nd Pl - 4bd, 2ba, 2,300 sq ft - Sold for $262K on 7/1/16

2614 S 59th Ave - 6bd, 3ba, 2,014 sq ft - Sold for $250K on 7/26/16

5624 W 22nd Pl - 5bd, 2ba, 2,100 sq ft - Sold $221K on 9/15/16

Email me for more info/showings or other deals.

Best Regards,

Zach Shuta 

[email protected]

Please PM or email me details.  [email protected]

Thanks.  

Thanks Nick Patterson 

I appreciate the advice!  I've started discussions with a couple of preferred equity lenders and will likely figure out a way to make this work.  Unfortunately the seller wasn't willing to hold a note....tried that right off the bat and no dice.  

I've started targeting these properties with my marketing so i'll surely have a few more locked up this year.  Will have to master the lending/borrowing asap.  

Have a commercial deal under contract and wondering if I can close on it myself rather than wholesaling it as I usually would.  Haven't dealt with commercial loans but wondering about preferred equity/bridge funding or other options to increase the dept ratio on the purchase.  Any ideas on funding options or good loan programs for first time commercial buyer?  Purchase price is likely under market value and rents already well above dept service and expenses. 

Deal: Chicago 8 unit residential purchase price 580k - Current rents $6500/m.  value add of 1500/m when owners unit is vacate and re-rented right after close.  and other value adds in garage and basement units at a cost of 50k can add 2500/m or more in rents.  building taxes 5800/y and expenses run about 10k/year under current management.  I'd likely self manage if purchased.

Any creative financing ideas?  Spoke to a couple of commercial lenders who seemed pretty firm on me bringing at least 20-30% down.  I know that's the standard but i'm looking for creative ideas to drive that down as I could likely sell the place for 20-30% more as-is.

Here’s my most updated version:

Are you looking for a hot deal? 306 Erie st. Downtown Valparaiso rehab project. Walk to super hot down town area or to the university. Low active inventory in a hot market so don't miss this slam dunk. Purchase for $77,000. Spend 55k on interior repairs and sell for 185K. This house has had a new roof, new AC, new water heater, water main replaced, furnace and fence all in the past 5 years.

This is an Assignment of contract. First buyer to wire funds to chosen title company equal to assignment fee will get this deal. Funds held as Earnest Money and refundable only if title cannot be conveyed. Closing Date flexible. Please complete your own due diligence.


Photos
Comps support ARV around 185k, however local realtors have indicated that a good rehab can sell for over 200k in this area.  PM me for questions.  Inspection to be accommodated for serious buyers who can provide proof of funds.

Is this deal still available?

I'm looking for a new contractor for a Job in Logan Square/Humbolt Park area right off of the 606.  Medium to small size job available right away and many other jobs coming up.  Please email me if interested!  [email protected]

Can you email me details?  [email protected]

We have an off market turnkey buy / hold condo available for immediate assignment in HIGHLY DESIRABLE BRONZEVILLE. Below are additional details.

We will be holding showings by appointment only, and showing requests with an offer included will be given priority. We review all offers and accept backup offers as well. If you have any questions or would like to schedule a showing please contact me directly. If you’re a realtor you are welcome to add your fee over and above the asking price.

As with all of our deals, the first to sign the assignment of contract and remit the assignment fee gets the deal.

Description

Vintage turnkey buy / hold opportunity in highly desirable Bronzeville. Top third floor unit features exposed brick, hardwoods, and stainless steel appliances. Unit will yield a 12-13% cap rate in it’s as is condition without doing any rehab whatsoever

Wholesale Price:$58,000

Cap Rate: 13%

Overview

– Brick vintage condo building

– 1,100 sq ft, 2Bd / 2ba, top floor unit (3rd floor)

– Unit features hardwoods, exposed brick, built in fireplace, and walk out porch

– Mechanicals in good working condition

– No assigned parking spaces, but free street parking all around building

– All appliances included (stacked washer / dryer, refrigerator, stove, microwave)

– Property will be vacant prior to close

– Taxes $700 annually

– HOA Dues $135.82/mo (includes water, trash, snow removal, common area and exterior maintenance)

– Building’s roof, porches, and tuckpointing all new withing in past 12months.

– 22.1, Rules & Regs, Declarations, and last 3yrs of association financials available.

PHOTOS