All Forum Posts by: Logan Krutsch

@Reed Meyer

If you are willing to consider living further from the city, there is plenty of opportunity in the northwest suburbs. I find that buying property along the metra lines that run in and out of the city is a great strategy for appreciation and can greatly reduce your transportation costs. Yes you will lose time as you would have a commute but taking the train can also increase your “found time”. I am currently buying in the second farthest stop on the Union Pacific Northwest line and there are plenty of deals if you know how to find them. Property is relatively cheap and rents are strong. The town of Woodstock is about to get an hourly train which will make properties much more attractive (there is also an opportunity zone) If you have any questions feel free to reach out!

All the best,

~LK

@Wayne Brooks

The point is to convert the initial payments of an amortized loan to simple interest via a heloc, loc, credit card etc... you skip all of the front loaded interest by doing so and focus on paying down your heloc. It works because the interest on a heloc is calculated using the avg daily balance. So every payment you make during the month lowers the avg daily balance and the amount that you are paying interest on at the end of the month. You still pay interest, but the amount you pay over the life of the loan is significantly less.

@Basit Siddiqi. Thank you! The next training in my city is in a few months and I am planning on attending. I am working with an accountant and can ask him for help, however I am really searching for free online resources for the time being.

@Christian Szpilfogel thank you! I will work on structuring it that way. I am still trying to understand how everything flows and which accounts affect what.

Hello,

I am a new investor in the Chicago area and am struggling with learning quickbooks and setting it up specifically for managing a rental business. I am not an accountant but I loosely understand how to read financial statements. Does anyone here use quickbooks/ have any good resources I can use to help me with getting the software set up/ learning the software. Thank you!

~LK

@Andrew Smith Chicago suburbs