All Forum Posts by: Arthur Banks

@Jennifer Hubbard Welcome!

@Justin Przybylski Welcome! You will find this place a wealth of information. I know I have. Wish I wouldn't have spent so much money on courses and gurus. Best success.

@Dan C. Thanks! I shouldn't have said Lake County towns aren't listed. I should've said there wasn't a huge amount of listings when I last looked. But I can only test the waters and like you said it's FREE! Good to know about Kenosha.

Sorry all. I found threads AFTER I posted. I guess I should search before posting.

I do thank you tho'.

How many months of reserves do you have on hand? Whether it be for after closing, finishing renovation, or for turn-over on a rental? I'm sure it would be great to have a tenant lined up to move in right away, but I know that's not always the case.

@Michael Seeker I guess that makes sense. It wouldn't be an all cash purchase. Sometimes you need to hear/read a response from someone else to confirm your thoughts. You're right it doesn't make sense to buy at $50K, put in $15K and ARV MAY only be $68K. No way to get any money out for next project. Good lookin' out!

How important is ARV when looking at Buy n Hold investments? I'm looking at a SFR that needs some work in order to be rent ready. It's a 4BD 2 BA split level with 2 BD's and 1BA in the lowel level that needs drywall, flooring and complete bath to be rent ready. Not a huge project. I could actually do the work myself if I chose. Looking loosely at comps at the current asking price $49K, it would be worth about $68k-$75K after. Since I'm looking to hold for long term, do I also want to consider ARV? I'm not necessarily looking at whether this is a deal (I'm going to post that question in Deal Analysis Forum) but wondering about ARV. If I need to post numbers in order to get answers, I can.

Thanks @Darren Sager Will do!

@Michael Seeker That sounds like good advice. I believe weeding out the non-interested by listing as you have described is a good idea.

I've entertained the thought of using CL, but in my immediate area (Lake County and Kenosha County) I don't know that it will be useful. Kenosha is listed on CL but Lake County towns aren't. I don't know that the type of renter in this area are looking online. I'll jump on and do some searches and see what turns up.

@Dawn Anastasi Didn't see your post. What type of advertising is working up there? I've been visiting Kenosha (since I'm 25-30 mins away) and looked at a few properties, but I don't know the area well enough just yet.