All Forum Posts by: Florent Useini
Florent Useini has started 1 posts and replied 8 times.
Post: No good deals in Illinois
- Posts 10
- Votes 2
@Bob Floss II it’s my first time investing so looking at Multi-Fam 10-25 units.
Post: No good deals in Illinois
- Posts 10
- Votes 2
I can’t find any decent deals in IL!! So frustrating! Anybody having the same issue??
Post: Can't prove which tenant damaged building?
- Posts 10
- Votes 2
@Shane H. I would ask all three tenants: “if you know who did it and you tell me and testify in court, I will pay you $500 or give you credit on half a months rent.” Then if you find out who did it, charge them for the damages and for the $500 or half months rent and another $100-$300 for your time investigating the matter.
@William Thomas I would do the 30 year. If you want to pay it in 15 years and you have the extra income then you have to OPTION to do that by deducting the principal of the loan by paying extra per month. If you take a 15 year mortgage then you are OBLIGATED to pay it no matter what your income is.
Post: 10 plus units - What’s your goal?
- Posts 10
- Votes 2
@Michael Baradell Brandon says $100/unit cash flow is a base hit. $200 or more per unit cash flow is a home run!
Oh yeah definitely!
@Frank Patalano I was thinking of finding a 16+ units and have a property management company manage the property. The 16+ units gives me peace of mind if there is say 3-6 units vacant I'm still receiving cash flow from the occupied units. Of the $300k that I have in current equity I was thinking of doing a $200k down payment and holding the $100k for reserves (rehab, maintenance, other expenses, etc. needed for the property in the future).
@Frank Patalano fear of losing my money. Currently have over $300k in equity in my current residence.