Hey guys,

I have a personal post for you all today.  Actually, it’s about Kamran.  I am so proud of him I just have to share this with you.

About a year ago, Kamran got this idea in his head that he wanted to buy a foreclosed building, rehab it, and rent it out.  Now, this is not revolutionary.  Lots of people have rental properties.  Lots of people buy vacant buildings and flip them.  But this did not seem like an easy proposition at the time.

1.  The real estate market was still in the toilet, and everybody said he wouldn’t be able to get a loan.  Well, he got a construction loan from a lender who has not only backed us financially, but has given us tons of advice and support in every way possible.  How many lenders can you say that about?  (Chicago Investment

2.  He didn’t have much experience.  How would he know where to buy?  How would he find a good building?  What if it had major defects or was in a terrible neighborhood?  These thoughts are enough to scare away most people.  But not Kamran.  He looked and looked and when he found a building that he loved, he went for it.

3. The market for vacant buildings is competitive.  There are lots of more experienced buyers trying to grab up good deals.  But Kamran pushed, and Kamran got the one he wanted despite multiple offers.

4. Did I mention that he did a total gut rehab?  Can you imagine buying a 6-unit apartment building, tearing it down to the studs, and rehabbing it?  If not, then you are like most people.  But not Kamran.  He had a vision and the guts to convince us, his family members, to see it too.

Here are some “before” pictures.  Admittedly, these pictures were taken right after demolition began, so the building actually looks worse than it did when we first bought it.  When we bought it, it may have been old but it was at least intact.  Imagine sending these lovely images to your investors:  (Congratulations! You are the proud new owners of this beautiful building!)

It does have a really nice view: