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All Forum Posts by: Dominick Adolfo

Dominick Adolfo has started 1 posts and replied 27 times.

Post: Tenant is requesting to get a cat

Dominick AdolfoPosted
  • Chicago, IL
  • Posts 28
  • Votes 10
Dean Suzuki Many good ideas mentioned for allowing your tenant to have a pet. Another might be to ask them to extend their lease. This

Post: New Member from Chicago

Dominick AdolfoPosted
  • Chicago, IL
  • Posts 28
  • Votes 10

Hi @Brian Phillips ,

I am also an agent who invests in the southwest suburbs. Best of luck with your endeavors. I look forward to networking. Feel free to contact me with any questions.

Dom

Post: New Member - Chicago

Dominick AdolfoPosted
  • Chicago, IL
  • Posts 28
  • Votes 10

Welcome @Nick McCrorey

I have recently joined BP as well. As you know it's full of information. Best of luck and I look forward to networking with you.

Dom

Post: Sifting and Sorting using MLS

Dominick AdolfoPosted
  • Chicago, IL
  • Posts 28
  • Votes 10
J Scott I do the same things with keywords in my farm area. I have yet to utilize excel and download more data outside my farm area. There are some pretty amazing functions in Excel. So I imagine one can come up with algorithms in which information from the MLS can be run through. If anyone has tried this or has created such a program, I would be interested in hearing more.
David Johnson congrats on passing your exam. Along with any referrals you receive, I would "shop around". Many brokers are structured differently when it comes to commission splits. Also, as a newbie, you might want to find a broker who is willing to train/mentor you. If you plan on investing, advice from a veteran can be priceless.

Post: New to BP from Chicago South Suburbs

Dominick AdolfoPosted
  • Chicago, IL
  • Posts 28
  • Votes 10
*********** Timothy Riley @john hauser Thanks for the warm welcome.

Post: New to BP from Chicago South Suburbs

Dominick AdolfoPosted
  • Chicago, IL
  • Posts 28
  • Votes 10

Hi Everyone,

While trolling the internet I cam across Big Pockets and man was I surprised. I had no idea such a community existed and have been glued to it the last week.

I guess I'll start at the beginning. I've been involved in real estate some way or another for the last 15 years. It started when I worked for a tile company during a building boom in the south and southwest suburbs of Chicago. I was only 16 at the time and sort of just absorbed everything. From then on, I knew I wanted to do something in real estate. Fast forward a few years after college and getting a full time Jay Oh Be and having my real estate license on the side, I decided to try and flip my first property doing all the work myself. I had worked out all the numbers and left myself a large cushion.

My timing was impeccable...I bought a condo in August 2007. I made almost as much money that day as my starting salary out of college. um on paper. After a complete cosmetic renovation, I put it up for sale and rode that market down. I ended up selling it in 2008 with out having to bring money to the table, but lost out on carrying costs. The condo association did not allow rentals even after I sent them a hardship letter. I learned a valuable lesson during that period. Always leave yourself outs.

I took that one on the chin and decided I could do better. When I look back it's funny, it cost me about $6K and my sweat to learn something I have come across many times in the forums, podcasts, and blogs in just one week. It's little tips like that throughout this site that can save a person a lot of money.

In 2011, I decided the time was right for me to get back in. I bought an estate sale in Palos Heights, remodeled it, and decided to Buy and hold this one. I have had a positive cash flow since day one and have been saving that for another property which I will be ready to purchase in the next couple months. I have a lot of options I can pursue which I will probably scour the forums as well as post some questions. I have a plan of continuing to buy and hold properties in the future.

I look forward to conversing with you all and am excited to have joined Bigger Pockets.

Cheers,

Dom

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