All Forum Posts by: Dan Miklosz

Hey BiggerPockets family,

I live in an expensive market, Chicago, where the numbers are difficult to make things work for a house hack.  The latest BP podcast got me thinking about converting a single family house into a small multi-family.  David mentioned simply putting up drywall but I have to image more is involved.  

Does anyone have experience converting a basement into a separate unit - construction/permits/zoning?  

Any tips would be appreciated!!

Dan

Curious if anyone has advice for how to legally spit a deal with someone else?  

I'm looking at putting a deal together but will need additional capitol from friends/family.  Curious if anyone has any pointers on how to best set up the deal through contracts, should I be incorporated, agreements, etc?

Any help would be much appreciated!

Hey BP,

I'm working on my first house hack here in Chicago and would like to get connected with a few wholesalers.  Does anyone know any groups, meetups, or websites that I can look into?

Any help or contacts would be much appreciated!

Dan

Hey everyone,

Thought I’d put a post out regarding how to find good hard money lenders. How do you vet them? What makes a good lender compared to a bad lender? Would you recommend a newbie use hard money on their first deal?

@Liz Brumer-Smith,

Thank you for your thoughtful response!  I'm looking at a few different options for financing and appreciate the insight.

@Dan Weber,

I recently bought a condo in downtown Chicago as my primary residence, as much as I'd love to house hack I'm not looking to move just yet.  It's definitely something I'm going to consider for my next move.

Really appreciate that link, I'm enjoying the article.

Hey everyone,

I'm working my through a fairly familiar scenario, looking to jump into the brave world of multi-family REI without having the seemingly $100k+ in liquidity to start out with.

One strategy I'm considering is seller financing, for it's ability to side step traditional financing requirements and hurdles.

Does anyone have any experience with seller financing?  And if so how/when did you bring it up?  I have a feeling that there might be an art to not bring it up too quickly or too late into the negotiation. 

Appreciate any help!

Does anyone have any suggestions for locations in the mid-west with affordable multi-family inventory?

I'm starting out and am looking to invest in a more affordable location than my beloved Chicago.  

@Rebecca Knox thanks for the tip!  I will definitely look into Brew City

Thanks for the tip!

I'm looking for cash flow rental properties and Milwaukee is a lower cost option than my hometown of Chicago.

I'm thinking about looking into Milwaukee as a place to start investing later this year.  Anyone have any experience in the market?