All Forum Posts by: Matt DuSold

Ha! I'm right there with you! I get winds where I will goto the gym 3 days a week or so and then wont do it for another month... I had mono two years ago and it pretty much stripped me of any muscle and bulk I had I'm down to 5'8" and 145 pounds!

Is there anybody who has a lot of experience working with a PM company? I am going to be entering grad. school next year but I will only be taken night classes 2 or 3 days a week.

My ideal goal in REI is to have enough rental properties where I can do it for living while possibly wholesalling homes for extra income. I can only assume this would be an ideal thing to do so I am making some money while learning the ropes as I get my further degree. I would just like a little insight with it if possible. Thanks!

When you say get a HML for a rental, do you mean buying a foreclosure and then renting it out or going straight after a property that already has tenants in it?

I know many people only buy property with people already renting but how risky would it be to buy a vacant property and then try to rent it out?

Sorry for all the questions I am trying to think of the best way I could start with rentals right when I get out of school next year.

Here in Chicago I have not been able to find any properties that you could apply the "2% rule" because of the high costs. Is there another way you can really look at it? I have used a few of the tools on the site (i.e. rentometer and the cash flow calc.) and this says I would cash flow positive. I didn't exactly know if these are always correct or not.

I think the major battle will be finding a property cheap enough to get a nice cash flow on. I'm sure Tim knows, up in the northern side of Chicago there are not many properties that come with a low price tag. I have had the thought of maybe getting a hard money lender and renting out a foreclosed property, is that a good idea or should I stay away from that thought.

Just trying to see all the ways I could go about this...

I know this is pretty old but hopefully this will get answered. Does anyone know if you buy a HUD home through "Teacher Next Door" are you allowed to rent it out? This seems to me that it would not be allowed... just want to make sure though!

Thank you, the site has already helped me tons! I figure you can't start too early. I am starting to look into HUD's a bit especially with the prices out here...

Where in Palatine? Im right near the Inverness side (near Fremd high school if that helps).

Well I have dabbled in sushi and I'm not that big of a fan... But I would eat it everyday if it meant I would be successful in REI!

Haha hey I understand! I am actually a psychology major and a social work minor. I am hoping it can help me somewhere, where not to sure. I am going to grad for school psychology so that won't help me all that much either.

If I could pass it through my parents to just give me the 20 grand a year for REI classes and memberships I would... but that won't be happening unfortunately.

I have already told them I want to try RE pretty hard while I'm in grad to see if it is the life I wan't and if it is, by the time I'm done with grad I'll be good to go! My dad is all for it for it, my mom is questionable because we know others who own rentals and don't like it much. It just means they might be my first targets after I get all the numbers :lol:

Hi everyone! I have already "met" some of you because I have been reading for a while (and learned TONS) but saw that new readers should post here so I figured why not.

I am from the NW burbs of Chicago (Palatine). The draw back (some may view as a plus) is I am still in college. I am going into my Sr. year at Mizzou. I will then goto grad for 3 years.

Long term, after I have income from another job I want to have rental properties. Because I have no income right now I figure a great way to get into RE is to look into wholesalling and referals. Thanks for everything, hope to meet all you Chicagoans this summer!

I don't exactly have a "Plan" as of now. I am trying to explore the best way to go about everything. I stated in other forums how I am going into my Sr. year of college then will be going to grad for 3 years. I am hoping by then to be very comfortable with Real Estate. I am taking the next two summers and next school year to study as much as I can.

As for good renting market. I am from the northern suburbs of Chicago. In my area I am not quite sure how well it is for renting. I would assume that Chicago has many opportunities for renting, although this I am not positive.

As far as a team I can do small things but I also have a few friends who do construction work and can do anything in homes really. I am a VERY money driven person and will do anything it takes to make money. I am not big on test taking and studying but work I love to do.

Again I am trying to learn as much as I can. Real Estate is very interesting to me and the more I go through school the more I realize I want to be on my own and do not want to be cooped up in an office. So I have not done all my research (I have done a lot in wholesalling, but only read books on rentals) yet and that is why I'm sure in the future you will see some stupid questions.