Thats a good plan, but allow me to point out... there's nothing wrong with putting it up for sale today (by owner or a deep discount realty operation) at a high price that reflects the upper end of the comps for superior homes in that neighborhood. And don't budge on the price You still execute your plan.... but you throw that bait in the water too. Key is turning over capital fast. Waiting a couple years or so is a bad plan if you want to fast track success. Get that bait in the water. Ya just never know. Somebody might be in a pinch to get something fast. Chicago is very vibrant.
If I do for sale by owner I may be a able to swing that and still make a decent buck on The sale. I’ll do some higher end upgrades myself this winter and list it in the peak spring season and see what happens high end comps are about 30k above me currently. I could match them with about a 10k investment in the house
You should create your own website called EliteHouseFlipper.com -- that seems more like your kind of home, rather than hanging out at elitetrader. If it's a success, I want 10% ownership/sales of it. It was my idea and inspiration. (i'm joking, but i also mean it. i saved your avatar face for record keeping/identifying purposes)
Get a legit realtor or else you can get sued up the ying-yang..hire someone to tighten it up so it doesn't look like some crash pad- couch surfing academy. Don't be cheap, you will make it up in the price.
Huh? For what? He's selling a friggin new house. Fill out all the right forms that Illinois requires and let the title company do the rest. Never use an agent if you don't have to. NEVER.
I'm not sure where you live but you'd be surprised how many litigious people make a business out of suing new home builders. Anyways it's probably a shit shack...I'm sure Clubber Lang will take it off your hands. https://finance.yahoo.com/news/peer-peer-real-estate-marketplace-184927795.html
Things are no different today. Back then, everyone a few years older than me were walking around with degrees to get out of the draft. Everyone had a degree but me. NO ONE ever inquired if I had a degree or ever questioned me about it; if it worked to my detriment, it was unknown to me. Yes, I think that's probably quite true.
I hire the gamut, both clerical positions, client liaison positions, IT positions as well as guys who want to learn how to trade. I understand that a lot of people who have made the sacrifice, effort and incurred the expense of going to college often exhibit this condescending attitude. Be like everyone else, expect the same results as everyone else. In the end, you cannot by brains.
Hmm. I wonder if your career path is possible now? On the merits of schooling. I think there is an educational aspect to going to a good school which is hard to deny (even the startup founders that dropped out usually dropped out of Harvard). Then there is the whole degree-access aspect to it. I have yet to meet anyone in finance (my age or younger) that does not have a higher education. Does not mean they don’t exist, but probably does mean that lack of a college degree reduces ones chances of making it to the higher end of finance.