All Forum Posts by: Andy Nathan

I am not doing a lot of direct mailing but I have over 15 years of marketing experience. The key is to test, test, test until it works. Like Bob said above, you need the right mix of list, message, and mailer. 

You never know until you keep testing what works and what does not. Then the market changes and you need to start testing something new. 

 I see some great comments from other people.But I just want to add my two cents.  Take this as it is for just two cents. 

First, people need a place to live. You have a lot of quality renters there because of the fact that there's a large demand to be close to downtown. 

Second, do the numbers work. Ignore interest rates. If you make more money in cashflow from your rental than your current outflow it doesnt matter. I dont know your numbers but assume you pay $3,000 per month on your current property (PITI). Can you rent it out for $3,500-$4,500 per month consistently?

If you then buy another similar house at $650K at 7%, you can possibly cover the rate increase and double your appreciation. Win-Win. 

Plus, over time you will get more cashflow and more equity.

Make sense?

 Make sure your property and you qualify. They have strict requirements.https://www.chicago.gov/city/en/depts/bacp/supp_info/sharedh... 

Few questions.

First, will the rehab help you rent the property to better tenants at a higher rate? In other words, are the upgrades an expense or investment?

Second, can you flip the property now and get a better return on your investment to flip to another property? 

Third, if you self managed would you make these changes? If not, why?

A lot of good points on both sides. I do PM in addition to managing my own rentals. Some of my clients want full service, others just don't want to deal with maintenance calls. Don't look at it as black and white 10%. Think of it as an entrepreneur. 

It is why I offer fractional property management services to my clients. What fraction of property management do you need for your rentals? As you grow, the answer will become clearer.

@Henry Lazerow reach out to the city of Chicago but it will take time. They are not known for customer service. Balance aggressively contacting them with politeness.

I get where you are coming in with the cooks in the kitchen. Some of the deals we are analyzing will be close to seven figures. We have smaller deals that will not require as many investors. That is why I was asking because having this many investors on a deal is still new to me. 

Thanks @John Warren and @Jonathan Klemm for your answers. Definitely appreciated!  

I feel like I would be repeating my answer, replying to you both individually. Some investors want to work with us before we find the property. Finding an investment based on what works for your investors and you is always easier anyway. 

Therefore, I don't know the agent involved yet, but I have some ideas on location. The challenge we are facing is that each investor might have a different part of the pie. I think the lender route might be the better option.

With the series LLC, it should be easy enough to switch companies once the deal is underway.