Location & expertise in manufacture rehab How did you find this deal and how did you negotiate it?

The Sheriff might require a deposit or fee, but will ultimately carry out the Order for Eviction and physically remove the Tenant.Andrew Holmeswww.chicagocashflow.com

@Tove Fox - Residential Real Estate InvestingPros:Lower Entry Costs: Easier to get started with less capital required.High Demand: People always need homes, making demand relatively stable.Easier Financing: Mortgages are generally easier to secure with favorable terms.Simplicity: Easier to understand and manage, especially for beginners.Flexibility: You can use it as a personal residence or rent it out.Cons:Tenant Turnover: More frequent turnover leads to vacancy and more management.Lower Cash Flow: Income potential can be modest compared to commercial properties.Emotional Buyers: Residential prices can be influenced by emotions, leading to price volatility.Maintenance Burden: Landlords often deal with repairs and maintenance, which can be time-consuming.Commercial Real Estate InvestingPros:Higher Income Potential: Stronger cash flow and higher returns are common.Long-Term Leases: Tenants often sign longer leases (3-10 years), reducing vacancy risk.Professional Tenants: Business tenants tend to take better care of the property.Valuation Based on Income: Prices are based on the income the property generates, not market emotions.Shared Costs: Tenants often cover property expenses like taxes, insurance, and maintenance (via triple-net leases).Cons:High Entry Costs: Requires more capital or partnerships to get started.Complex Management: More expertise is needed; you may need a professional property manager.Economic Sensitivity: Commercial properties are more sensitive to economic conditions.Challenging Financing: Securing financing can be harder, with stricter terms and higher interest rates.Zoning and Legalities: More complex regulations compared to residential properties.Key Differences:Risk: Residential tends to be lower risk, while commercial offers higher rewards but with greater risk.Management: Residential is easier for DIY investors, while commercial properties usually require a team.Scalability: Commercial properties are easier to scale, offering more potential for significant cash flow increases.

.- Inspections: Some programs require annual property inspections to ensure compliance with their standards, which can occasionally be demanding.- Damage Risk: As with any tenant, there’s potential for property damage.

If you ask the manager to justify a fee and he starts hemming and hawing, move on or require them to remove the fee.

It is not something that you can access immediately, like same day.It usually requires 2 Business days to process loan request.

Once that’s confirmed, they’ll help you submit the required permits to the Department of Buildings (DOB) and get approval from the Department of Transportation (DOT), since it affects the sidewalk and street.After permits are approved, you’ll need a licensed contractor to do the construction.

Loan would have to be assumable from the bank and the buyer would need to meet all the requirements previously met by the seller.  

How many units do they require to auction off contents? 

We lend up to 85% of the build costs but, generally, require that our borrowers have some experience with ground-up construction.