All Forum Posts by: Andy Nathan

Thank you @Amir Khan! Those are some helpful insights. I will talk to my partners and also an HML lender I work with right now.

Have an opportunity to work with a few investors locally in Chicago. My partner and I have a series LLC already. The question came up today: How will we provide proof of funds for a cash offer on a SFR we want to rehab with 3-5 investors. Depending on the deal we are not sure how many people will join or are needed.

Will a residential seller pause on our offer if we included 5 bank statements.

Resistant to setting up a new series without a deal. Is there an easier way?

@Joseph Tuczak Unfortunately, the city of Chicago will not see this as a sufficient reason to not do the repairs.

Their concern is the health and safety of the tenants and yourself. They don't look at the cost as much.

Your best bet is to find a way to fund the repairs and get new tenants in who can pay for a nicer place and take care of it.

I know that is not the answer you want. Also, I agree that starting/finishing the repairs before the court date shows the city your willingness to work with them.

@Joseph Tuczak currently, most of my CHA tenants in South Chicago come from Zillow and the MLS. You can definitely reach out to nonprofits to work with them but if you want to give people with section 8 housing an opportunity you can just list it on Zillow.

@Scott E. I am not sure AI will be ready to replace architects and engineers in 10 years. I see some huge liability issues with that right now.

However, think about AI for the potential to help you sift through deals. Look at the new Microsoft Copilot coming out later this year. You can enter data and get insights directly inside of Excel or PowerBI.

Furthermore, the applications for marketing are tremendous. As a digital marketing executive in my full-time job, I can tell you that I routinely enter content I create into ChatGPT or Grammarly Go to ensure my copy is spot on with my audience.

The same applies to emails, ads, and blog posts. I get faster & better responses from generative AI than I ever did from contractors.

Finally, do you ever want to review your business plan with anyone? Share it with AI to see if you can improve it.

Just a few ideas.

@Alicia Marks we do marketing for off market deals but we closed 3 MLS deals this year. It is a numbers game for us. If we submit x number of offers, then y will respond, and z will close.

@Travis Pirtle have you spoken to a portfolio lender about possibly refinancing into a company? If you had a refi that was close to ready, it would be less of a concern over due on sale. Not sure but we're rates higher than today? I know they are going up, but maybe it could be to your benefit.

@Kaylee Walterbach I have a 1-year old daughter. By the time she is 3 or 4 I want the freedom to spend as much time as I can with her. I want to never miss any of her recitals, games, etc.

@Courtney Kelly that is why we got our license - access to the MLS.

Quote from @Varouj Asdourian:

Hello Everyone

I currently reside in Los Angeles but I am buying my second investment property in the Houston, TX area.  It is a 4plex.  

I wanted to get your opinion on the various property management software / online portals.  I want to try to manage it myself if I can. There a few that offer pretty much everything from rent collection, to having pre-screened contractors and handymen available for fixes, etc, which can all be dispatched online.

Does anyone have any experience with any of these sights or offer any insights or suggestions?

Truly appreciate any input.

Thank you.

We are testing Buildium right now. Avails user interface was not user-friendly at all for rental applications. I had some tenants give up because it was not working. Zillow rentals is okay for applications but limiting.