All Forum Posts by: Federico Gutierrez

What's your exit plan for buying in war zones ?

My question.  Did you use a licensed PM?

House heck for 12months. Use an FHA loan 3.5% down, or conventional for 5%. Owner occupied properties you need lower down payments

See if you can add a dishwasher in the Kitchen. That will help attract tenants. Might not get you higher prices but helps it stand out

3% for maintenance is low. What happens when your roof, water tank crap out? I'm not seeing that. 

Have you found a commercial lender that will do a 30yr loan? Most do ARM (1,3,5 yr terms)

1.1mil for a 6.5 cap rate or lower (once you take ownership and see the actual expenses) is terrible leverage. 

Maybe If you invest in the south side?

But not even close. Tenant landlord suck. Evicting a tenant in Chicago takes months instead of weeks. Don't get talking about security deposits that's a sensitive subject

Price points are much higher in Chicago in relation to Cleveland 

Not a scam, just a waste of time. But this isn't the first guy to ask unrealistic terms. I get unrealistic investors all the time and they don't want to accept realistic numbers of what the market is offering and change their criteria. 

I just said if he would work.under those requirements of he was a realtor....no reply. What a vampire

The lower offer comes with better terms?

Just trying to understand they rejected your first offer which is probably better than your second offer. Unless there was an inspection issue why would the seller take a lower offer unless you offering something

@Victor Vella deals done in Lakewood, how did you come about them? MLS? Your own marketing?