All Forum Posts by: John Powers

     Hey thank you all for your feedback. It's a tough decision because the barrier to entry is so much lower in midwest, than in Washington. I'm actually living in the Leavenworth area right now, so I'm right in your neighborhood Nic! I totally agree with you that Illinois has serious problems with their state goverment and Illinois taxes are a real pain. 

     Do any Washington state investors have input on finding off market single family homes that only need cosmetic work for $120,000 or less? I am looking to get a conventional loan for the property so I am not interested in properties that need a full rehab. I'm more interested in finding a below market value deal and building some equity in the property than renting it out. Perhaps after a year or two I would consider using it as a rental property.

Thanks

John

      Looking to buy a single family home or duplex in north central Illinois or in Washington state. Advantages to Illinois include more affordable home values, lower mortgage payments, cheaper cost of living, closer to family/friends. 

      I make 30-40k a year from seasonal jobs as a restaurant server. 2020 has been a bad year for the hospitality industry, but I have hope that by the summer and next fall the industry will start to recover. If it doesn't I will try to find a job where I an make at least $20 an hour. I have 20k set aside for the downpayment, fees, and basic repairs and cosmetic work. 750 credit score.

      My big decision is where to buy my first property? Should I buy in Illinois where my monthly payment will be lower, and I can house hack a single family or duplex? Or should I buy a single family in Washington state, where I will be working and want to live on a more permanent basis? It also looks like the long term appreciation might be more in than in central Illinois. 

      What do you all think?

Thanks

John

      Looking to buy a single family home or duplex in north central Illinois or in Washington state. Advantages to Illinois include more affordable home values, lower mortgage payments, cheaper cost of living, closer to family/friends. 

      I make 30-40k a year from seasonal jobs as a restaurant server. 2020 has been a bad year for the hospitality industry, but I have hope that by the summer and next fall the industry will start to recover. If it doesn't I will try to find a job where I an make at least $20 an hour. I have 20k set aside for the downpayment, fees, and basic repairs and cosmetic work. 750 credit score.

      My big decision is where to buy my first property? Should I buy in Illinois where my monthly payment will be lower, and I can house hack a single family or duplex? Or should I buy a single family in Washington state, where I will be working and want to live on a more permanent basis? It also looks like the long term appreciation might be more in than in central Illinois. 

      What do you all think?

Thanks

John