I am working with a bulk investor who buys properties all across the US. These are the properties he has in Chicago, if you are interested please let me know asap.
These are all net numbers so if you want a commission please add to the top.
215 W 110th SFH (11k Net)
4956 Loomis 2 unit (17k Net)
6005 Throop (11k Net)
6812 Hermitage (12k Net)
7043 Justine (13k Net)
7155 S Union MLS (13k Net)
Friday, March 13, 2009
Thursday, March 12, 2009
Crazy Cheap Properties
OK, I have hooked up with a guy that buys properties in bulk all across the US and he has asked me for help in Chicago. These 2 properties are only for the seasoned investor since they need extensive work. However, if you are a brave soul, life rewards risk takers, I can walk you through the entire process from purchase to rehab to rental. I am happy to lend my expertise and my subcontractors to people who are serious about building long term wealth.
8533 S May 17k
6023 S Winchester 14k
8533 S May 17k
6023 S Winchester 14k
Saturday, January 24, 2009
8505 S Morgan -Under Contract
OK, I can't seem to keep the inventory in stock. Another property just went under contract and it just finished being rehabbed. I guess I can't be surprised since the property will throw off a positive cash flow. The investor is placing a rent to own tenant in the property and will make a 6% guaranteed rate of return per year with an option for the tenant to buy after 2 years, with a 30k payday! Also they are collecting an upfront option contract fee of 3k from the renter/buyer.
Monday, January 12, 2009
Under Contract
Several of the properties now have contracts...
2658 E 92nd Chicago
6742 W 91st Oak Lawn
9330 S Chappel-Chicago
I still have 8505 S Morgan so if you are interested in jump starting your investments give me a call or e mail.
2658 E 92nd Chicago
6742 W 91st Oak Lawn
9330 S Chappel-Chicago
I still have 8505 S Morgan so if you are interested in jump starting your investments give me a call or e mail.
Friday, January 9, 2009
6742 W 91st St-Oak Lawn
Please check out the video at the right-Virtual Tour of the property
Step Ranch built in 1974, currently still looks like 1974 inside but very clean, if you are unsure of how to rehab or remodel I can take care of that for you, I have subcontractors already in place ;).
This is a 3 bedroom 1.5 bath home in one of the best parts of Oak Lawn. Brand New Home next door is selling for 450k+.
Asking Price $180,000 Appraised Value $250k after repairs
Remodel +25k so a remodeled sales price is 205k or "as is" 180k
205k x 7% = $14,350 per year in carrying cost + $4,650 for taxes and misc = $18,000
Should be able to easily rent for $1,500-$1,800 thus covering its own expenses and then sell in 1-2 years and make a healthy profit.
Step Ranch built in 1974, currently still looks like 1974 inside but very clean, if you are unsure of how to rehab or remodel I can take care of that for you, I have subcontractors already in place ;).
This is a 3 bedroom 1.5 bath home in one of the best parts of Oak Lawn. Brand New Home next door is selling for 450k+.
Asking Price $180,000 Appraised Value $250k after repairs
Remodel +25k so a remodeled sales price is 205k or "as is" 180k
205k x 7% = $14,350 per year in carrying cost + $4,650 for taxes and misc = $18,000
Should be able to easily rent for $1,500-$1,800 thus covering its own expenses and then sell in 1-2 years and make a healthy profit.
Thursday, January 8, 2009
No War Zones-No Slums
Working class neighborhoods are the key to success. You want homes to rent to the working class mass, your bus drivers and mailmen need a place to live too! They want to live in a descent neighborhood and are willing to pay a good rent. These are your tickets to success!
Wednesday, January 7, 2009
Financially Independent in Less Than 7 years
Rent To Own:
The first step is to do something. You can not wait for everything to be "right". There will always be obstacles and reasons not to invest. It will never be just right and you will make mistakes, the important part is to get started and learn as you grow.
Home One $150,000 Home purchase at 85% of value and put 10% Down or $12,750=$114,750 Mortgage
This should run you about 10k-12k per year in mortgage, taxes, vacancies and misc.
Make sure the home can rent for at least$1,200-$1,500 per month.
Also get at least $3,000 as an up front option downpayment on each home and have a monthly positive cash flow of at least $200. This is easily accomplished because the tenant/buyer has a vested interest in buying the home. You can charge top of the market rents and then use a portion of the money for the down payment option. Make it so attractive that the tenants would not want to walk away from the credit to use toward the downpayment. If they do not buy you get to keep the option money.
Rent to Own the home on a 24 month option. Increase the sale price of the property by 3% yearly (inflation) to resell that property at $159,135
Gross Profit of $31,635 + $3,000 option + monthly positive cash flow
Reinvest the profit, through a tax deferred 1031 exchange, into 2-3 other properties and repeat.
What’s keeping people from investing in residential real estate? Based on a recent investor survey, the main reasons are: securing financing for rental properties; finding the time to invest; fear or lack of knowledge; and locating good deals.
Let me put my expertise to work for you! If you would like more info please email me, I can only take on 4 investors for the upcoming months so do not delay.
The first step is to do something. You can not wait for everything to be "right". There will always be obstacles and reasons not to invest. It will never be just right and you will make mistakes, the important part is to get started and learn as you grow.
Home One $150,000 Home purchase at 85% of value and put 10% Down or $12,750=$114,750 Mortgage
This should run you about 10k-12k per year in mortgage, taxes, vacancies and misc.
Make sure the home can rent for at least$1,200-$1,500 per month.
Also get at least $3,000 as an up front option downpayment on each home and have a monthly positive cash flow of at least $200. This is easily accomplished because the tenant/buyer has a vested interest in buying the home. You can charge top of the market rents and then use a portion of the money for the down payment option. Make it so attractive that the tenants would not want to walk away from the credit to use toward the downpayment. If they do not buy you get to keep the option money.
Rent to Own the home on a 24 month option. Increase the sale price of the property by 3% yearly (inflation) to resell that property at $159,135
Gross Profit of $31,635 + $3,000 option + monthly positive cash flow
Reinvest the profit, through a tax deferred 1031 exchange, into 2-3 other properties and repeat.
What’s keeping people from investing in residential real estate? Based on a recent investor survey, the main reasons are: securing financing for rental properties; finding the time to invest; fear or lack of knowledge; and locating good deals.
Let me put my expertise to work for you! If you would like more info please email me, I can only take on 4 investors for the upcoming months so do not delay.
Subscribe to:
Posts (Atom)
