All Forum Posts by: David W.

In my early 20s, I moved from Boston to Los Angeles.  Student, unemployed, credit history limited to one $500 credit card.   I could not get a lease application approved.   Decent savings and no debt, I offered to prepay 6 mo + security deposit.  Terms accepted by a complex owner / manager.

In my w2 business we often accept advance payment from our corporate clients, as they need to deplete budget before we determine the full scope of work.  We accent the payment and track in Quickbooks as credit, funds set aside until applied to an active project.    

I've used 6 and 12mo pre-pay as negoiation for office space and commercial storage with great success.   

Assuming no laws voided, why not?

In CA, purchase a 4plex with a non owner occupied mortgage, 25-35% down.   12+ months later is it possible to move into one of the units and no cost refi into a conventional owner occupied mortgage?  No cash out.

Thanks

My owner experience is limited to So California and Texas.   We're considering a SF purchase in the Oak Lawn or Burbank area of IL.    In that area, who typically handles the following.  Tenant or owner / manager?

Lawn Mowing 

Driveway snow and ice removal

Walkway ice and snow removal

What utilities are generally covered by owner?

Here is a example rental listing.

http://www.zillow.com/homes/for_sale/Oak-Lawn-IL/4058986_zpid/6267_rid/41.721634,-87.747127,41.708003,-87.769872_rect/15_zm/0_mmm/1_fr/

Hi Adam, greetings from Laguna Niguel.

In 2013 I stopped 401k/IRA contributions. I'm investing that annual savings in real estate. We have 3 rental properties with the goal of adding one per year. I have no plans to tap into existing tax deferred savings. However, once we max 8 conventional loans I may reconsider a self directed IRA.

I'm self employed, so a company match doesn't apply, but I do loose the tax deferment.  

Right decision?  I don't know... but after 17 years of picking mutual funds and working with a financial planner, this is much more exciting!  I love the hands on and cashflow.  I went from checking my retirement portfolio once every 4-8 weeks, to reading and researching RE on a daily basis.

Greetings

I first discovered BP around 2006 via google.   I've read many of the blog and forum posts over the years.  But just started listening to the podcasts while cleaning up and prepping one my rentals in San Antonio.  

I'm based on Orange County CA, small business owner and work in advertising, television, media.  My career has very little overlap with RE, however we currently own three 4/2 SF homes in San Antonio.   All three are cash flowing and long term.  We started looking in 2010, and I wish I had committed at that time...  We closed on our first rental mid 2013. 

We are getting ready to make our next purchase and I'm very interested in the Chicago market.  Single family in the Oak Lawn, Burbank, Mt Greewood area.  Or, possibly a turn key 2 flat on the south side.   My sister lives in the city and travels throughout the neighborhoods listed for her job, also not in real estate.

San Antonio has been good to us, we may pickup another single family on the north side, above the airport.  However, the returns in Chicago look better and I would like to diversify location and demographic.

Looking to learn more about the Chicago market, TK providers, possibly an agent with investor knowledge and management companies.   

Thanks in advance.