All Forum Posts by: James Syed

@William Huston

Welcome to BP. 

SFR - Fourplexes are based bought and sold soley based upon market approach while 5 units and above are based upon income approach. Some investors disregard these rules and buy and sell using market conditions.

To be more specific as to your thread, Duplexes and even Triplexes don't generally genereate enough cash flow and I'd stay away from them. Start with Fourplexes at a minimum. That is what I did and it has worked for me. 

I have shared what I have learnt and experienced. 

Hope it helps.

@Megan Greathouse

Thank you for your prompt response. 

I did speak to Travis and just emailed him. He said he would find a loan officer for me who could assist further. 

Thank you for pm as well. 

Hope to catch up with in person sometime. I am real estate managing broker and runs my brokerage. I am in Mt Olive, about 1 hour from St Louis. 

Regards.

@Megan Greathouse

Do you recommend any particular loan officer at American Bank of Missouri?

Welcome to BP. 

Generally speaking, Illinois is tenant friendly state. 

Hope it helps.

Welcome to BP. 

You don't need to give him any money. He must be a licensed inspector to conduct inspection and he is supposed to follow all the rules and regulations. 

Hope it helps.

Welcome to BP.

Hello BP, 

If all the buying criteria remains the same, which county is more desirible to invest? I am mainly interested in buy and hold, multifamily. 

Any suggestions would be appreciated.

Welcome to BP. 

It appears to be a lease violation. If you want to continue to have her as your resident, you can ask her for another pet deposit for the cat. 

We do manage quite a few rentals and don’t allow pets anymore. The cost of repairs / rehab is absolutely outrageous in most cases and  usually does not cover by a small pet deposit. 

Hope it helps. 

Welcome to BP. 

I am a managing broker, investor and property manager based in Mount Olive, IL (about 2 hours away from Bloomington, Normal). 

My investment area is from Bloomington Normal IL to Metro East St Louis area. I am willing 2 hours in any direction to meet other investors and network. 

Would like to connect with local brokers as well.

Welcome to BP. 

You post will require a lot of suggestions as there are so many factors involved when selecting potential tenansts. 

One of the most factor that I do want to mention here is "credit score". We require a minimum of 600 credit score. 

Hope it helps.