All Forum Posts by: Kenneth Garrett

@Tiffany Wilson

Welcome to BP.  There is a ton of great information here.  I still think having a mentor speeds up your investing career.  The guru's don't provide that aspect.  There is nothing better then having someone to look at properties with you and assist you one on one.

Good Luck.

@Mike Oresar

Welcome to BP.  If you need any assistance PM me.  I mainly focus on rental units.

Good Luck.

@Jervin Justin

I have been a code official for over 20 years.  The dead bolt must be a thumb turn.  No keys or other mechanisms (chains) that require multiple movements to exit in case of an emergency.  Your top picture complies.   @Account Closed Smart keys work as well but they must be thumb turns.  There is no grandfather clause with these types of requirements.

Good Luck.

@Carlos Appezatto

I would stay away from past eviction tenants.  Bankruptcy would depend on the factors.  Many tenants have lower credit scores.  I conduct background checks and credit scores with the National Tenant Network (NTN).  You can find a lot of great information at Mr. Landlord www.mrlandlord.com

I am Ok with credit scores in the lower 600's based on background checks. I find that Zillow Rental Manger provides a great resource for finding tenants. I find more tenants do not utilize the MLS. The free sites produce better results. I typically can find a tenant within 7 to 10 days. I tend to rehab my projects on the upper end. Look very clean.

Good Luck.    

@Vern M.

The Millionaire next door.  Cash flow quadrant.  Rich Dad Poor Dad of course.  Rental Property Investing by Brandon Turner.  There are many great books out there.   

Good Luck.

@David Jesse

@Brandon Heimsoth is correct.  There are a number of tax advantages and tax write offs when you create a small business.  Check out Mark Kohler on You Tube.  He is an attorney and CPA and gives great tax advantage information.

Good Luck.

@Talha Makki

Check out our meeting in Lake in the Hills. www.epicreia.com   Mentoring available.  Working on two flips and a number of rentals. PM me.

@John Hickey

The ejector pump is the way to go.  It is a sealed pit with a vent.  Just did a full bath in the basement.  Cost $6500.  Everything is expensive in Illinois.  Plumbers are licensed by the State and you have to use a licensed plumber.  $6000 seems like a decent number if it includes fixtures.

Good Luck. 

@Aaron Kaplan

Typically it is 5/8 drywall (Type X) on the each side of the wall.  There are a number of design systems (UL Approved) that can be used.  Floor to floor is a little different and more difficult with an existing building.  Anything is possible but cost may make it cost prohibitive. 

@Aaron Kaplan

A few thoughts:

City or County depending on what jurisdiction your in.  Zoning is the first hurdle.  Check the zoning district to see if you are allowed a two unit/duplex in that zoning district.  May need to look into water and sewer requirements.  Does each unit need to have there own.  In my area most duplexes and townhomes must have there own water service and sewer line.  Are there other duplexes in the neighborhood.  You must separate the two units with a 1 hour separation.  This may be difficult depending on the construction.  Is it a two story building?  Will the units be side by side or one above the other.  

Contact the local jurisdiction and contact the zoning department and ask about whether this can be done.  There are a number of variables to consider.

Good Luck.