All Forum Posts by: Ashley Pimsner

@Mido Ali

Multi- Family Millions by Dave Lindahl.

Also listen to every BP podcast and attend Brandon's webinars about how to calculate and run numbers for deals.

Best,

Ashley

@Ruthber P check the property taxes for the building you are considering-you might be shocked.

Last time I checked Riverdale property values were decreasing as real estate taxes were increasing.

I echo @Henry Lazerow west side like South Lawndale and Little Village good cash flow.

Case study- 3 flat 9 bed 6 bath purchased for 164k one year ago in Little Village rents were $3226 now 3800. Built in 2008 with minimal deferred maintenance, however needed to non renew a hoarder so new paint, floors, and stainless steel appliances ate into some profit. 

That's over 2 dcr and 23% cash on cash return.

Hello,

Are there any lenders who do Helocs or 2nds on a non owner occupied investment property?

Currently I have an ltv of 48% and want access to 50k for a dp for another investment property which would put me at 70% cltv.

Thanks in advance for any assistance as I would prefer to keep my lower rate on a 20 year am rather than refi at higher rate and hit reset button on loan term.

@Nate Wentworth if you start with multi family this early in your life, especially house hacking, then you will be set for life.

https://www.biggerpockets.com/real-estate-investme...

There are calculators here on BP that you should familiarize yourself with, and Brandon has done many tutorials and webinars on how to analyze deals...

https://www.biggerpockets.com/renewsblog/2013/01/1...

so I suggest finding potential deals in your area and start running the numbers to see if they make sense. A good house hack will allow you to live virtually for free.

Use www.rentometer.com to determine rents or consult a local agent or property manager.

Finally, pick up a copy of Multi-Family Millions by Dave Lindahl.

Good luck!

Hi Brie,

Although I only was able to attend Sat. my take away was that this event is a keeper!

Well done and see you next year.

Ashley

@Isaac Kieffer I really enjoyed the book Multi-Family Millions by Dave Lindahl.

@KC Zhang try Fund and Grow do a quick search.

I received >250k in approximately 9 months. 

and @Bob Green who I have not used yet.

Local banks and portfolio lenders also a good option-let me know if you find anything local worth while.

Best of luck!

@Ashar Ahmed I think you should reach out to @Robert Leach as he will give you a no bs estimate with proper permits pulled etc. and fi.e craftsmanship.

Good luck!

@Yusuf Salloum I do agree that in time we will see some gentrification on West side in North and South Lawndale/Little Village, but make no mistake there is a section in North Lawndale that is very dangerous which is beat 1011. I spoke with 4 police officers who patrol that area and they said anything South of 16th is fairly safe, but I prefer to be S of Ogden Ave.

https://www.google.com/amp/s/www.dnainfo.com/chica...

As for mice use Chemwise out of Berwyn and your problems are solved as they use bait stations which dehydrate mice which makes them leave building in search of water so they die outside instead of in walls.

Me section 8 tenants are like all other tenants and at first contact they are told that if anything needs fixed I will have it done in 24 hours and 48 max, but if rent is late I react just as quickly to evict and will make sure to keep CHA in loop every step of way so their voucher is in jeopardy. 

Most times this enough for non payers to look elsewhere.

I don't pick up rent but train tenants to deposit it in my bank account with deposit slips they are provided in the name of my business entity.

Never ever allow any tenants to train you that it is acceptable to be late on rent, and if they are in HCV program call CHA immediately when rent late and follow your lease.

Just my 3 cents.

Good luck