New to investing I would like some networking and advices :)
Hello everyone, New to investing looking to buy a single family home with Cash . in Chicago land area .
Is it possible to get a good deal since paying cash ? I am looking in REOs ! not sure where to find or look for a good deal
Is it better to invest in single family houses or Apartments ?
Thanks
Nas
Most Popular Reply
@Nassim Ioussaghane, what are your goals? Are you looking for cashflow or appreciation? I specialize in coaching real estate investors in the Chicagoland market.
• Cashflow: Rent minus Expenses. AIM for $500/mo+ per Unit. - Note if you pay cash this should be much more.
• Cash-on-Cash Return: Invest $100K, $10K/Yr in Cashflow? That’s 10%.
• The 1% Rule: $200,000 Property? You want $2,000/Mo Rent.
• Common Sense: Deal is $1M Dollars and $500/mo Cashflow - Don't buy it
Let me know if you want to set up time to discuss putting together an investing strategy.