Fix and flip real estate investing on the South Side of Chicago comes with its problems. Our client wasn’t getting proper valuations in certain areas of the city they were investing heavily in. One of the real estate investors was also a police officer in the district they were investing in, so he knew the area that they were fixing and flipping in very well.
Their original lender was also putting certain minimum per-door restrictions in place to make it difficult to get their projects funded in these areas as well. When we assessed their situation it was pretty evident that they needed to make a change and work with someone who was not going to work against them, but with them.
We were able to secure their first loan on a 2-unit property in which they will probably have $1,000 positive cash flow per month once it is rehabbed and fully occupied. They intend to manage at least 30 or 40 more of these properties before it is all said and done. We’re ready to help them every step of the way!