All Forum Posts by: David B.

Welcome Wanda Cardenas,
Remain motivated, you'll be fine.

Dave

My first purchase was a duplex. My very next purchase after that one was a townhouse. They both were great properties overall. I would buy both in the same order today for the exact reasons many mentioned above. My down payment was very low for the duplex which made acquisition costs for the townhouse more feasible. Whatever your decision just go for it.

Nice Investing,

Last year I put a set of coin-ops in two of my 3 units. Initially I had regular washers and dryers but they quickly became community as I personally seen people (not tenants) washing often. The tenants had become accustomed to the amenity but I was not about to provide that amenity for the entire neighborhood. I was already paying common electric in the basement so I was set on the electric machines. Plus water is basically at a set payment every six months (no meter). Coin-ops were spot on for my situation. I bought one set new from Menards ( $1400 both) and the other set used from a local leading laundry machine sales company ($800 both). I take in about $95 a month from all four machines. It's more about tenant retention than anything else.

Hey Abraham, Welcome to BP.

I currently invest in the Chicago market and understand your situation. I invest in lower income neighborhoods to build up substantial cashflow and middle to upper middle class neighborhoods for speculative appreciation. It would depend on your business model or goals as to which is better for you at this time. Are your investors long term or short term?

Nice investing. Dave

Hey Karna, welcome to the Community in both instances. I'm sure you will enjoy both BP and Chicago.

Welcome Gary,

I'm sure you will enjoy the wealth of knowledge that BP offers. I've been investing for over 15 years and continue to learn new info daily here. Nice investing

I'm currently a hands on/full time landlord that spends about 15 hrs a week on my properties. I own over 25 properties, SFR and small Multiunits, and I'm able to spend much time with my family. There are the once in awhile late night or all day fixes but they are far and few if you manage well and have nice product. I often do courtesy calls to my tenants to stay on top of things but also to have something to do. I like having the option to work or not. I can always contract out work if I don't feel like it. My lifestyle is great but when it does get to be too much I will look for a PM.

Hey Chad,

I'm a Chicago investor with over 10 section 8 tenants on the southside. I too was concerned with the future of the program a few years back but have since been more confident. I have read more into HUD and get updates and news about its prudence. Vets and single moms are a big part of the section 8 program and don't see the government cutting funds anytime soon. Keep in contact.

IMO it's no different than a investor living in an owner occupied duplex. Basically the same concept just separate pins. Most landlords i come across work out fine with that setup. I can see a concern if you get the wrong tenant, that's why you should do an intense screening on this tenant.

Does anyone use private money for the entire purchase of Multis? If so how do you or they usually structure it? What outlets do you use to find good Multi deals? Is loopnet a good source?