All Forum Posts by: Arthur Banks

I would definitely look at a duplex or better. On second thought I would look for the "or better". I house hack a 2 unit and wish I would've bought a 4 unit. Live and learn. A tenant with small kids of their own would likely be most interested in renting more so than a family without kids as they are probably having the same issue. I'm not advocating discrimination but simply stating they are in the same situation and more likely to be able to handle small children and their delightful noises. Side by side duplexes can be found here. I'm negotiating with a seller on one now. It's in Zion though. Plenty in Waukegan (which I prefer - good rental town). Not sure if you'd want to move to Lake County. Well you did mention Kenosha which is a bit further. But Lake County is <50 minutes from O'Hare. Well wishes. Oh yeah look into 203k loans. That's how I acquired my house hack.

@Oscar Chirinos I'll co-sign what has been said above. Zion CAN have higher taxes but that depends on where and what you're buying. For the price range you stated you're looking at $3k-ish. My last project was a $47k purchase. Sold for $113k. Taxes were $3500. Is that high? Yes, compared to Kenosha, WI. But half of what I was paying for my personal home. Just looked at a house over the weekend, taxes were in the $8k range. Waukegan is definitely going to get you better value for similar taxes. 

Roberto, welcome. You'll find a wealth of knowledge here and just as many people willing to answer those "no such thing as stupid" questions. I'm in Waukegan. Right next door to Gurnee. I suggest taking a look at joining our local REIA - Lake County Property Investors Assoc. (LCPIA). We meet 2nd Tues. of each month in Gurnee @ Primo's. Again good people, all willing to help. Best wishes.

@Eric Olsen please reach out to me at your earliest convenience.

@Rebecca Knox Hey there Rebecca.  Missed getting out to the last meeting. Hope to make the next.  Keep me posted on that package.

@Jacob Elbaum  Sorry I missed the notification.  Sure give me a call when you get a moment. I can't post my number but check my profile for my contact info.

Still of sale?

@Colin Hirsch How's it going? Shoot me a PM

@Brie Schmidt Hey Brie. 

@Keith Turner Not a critique because we all have our strategies... but why would you want to buy an investment property to break even? What if "things happen"? I'm just curious to understand the logic as I've heard others with this plan. 

I'm having my hands full with the city of Zion on a flip right about now.