All Forum Posts by: John Weidner

@Danny Duran 

.7% does not mean will negative cash flow.  I know many investors that are happy to break even.

Plus figure Depreciation into the equation...

@Jerry M. 

Consider a few. 8-10 units.  Easier to outsource property management and I think you get more economy of scale per door.   Looking at the same strategy myself right now 

@Danny Duran 

Your on the N / NW side...it's a tough landscape in this area of Chicago to make the 1% rule.  And Logan is pretty hot right now...

You are buying the dirt up here so keep that in mind.  If you want to cash flow you have to go South right now 

@Sandy Uhlmann the agenda is rather vague with a lot of networking time and booth time 

Have you heard good things about the event?  What made you sign up?

@Philip Williams 18% Cap Rate is Rockford or Crystal Lake / McHenry County

@Samson Kay 

Chicago Heights is not Chicago proper so you will not be governed by Chicago ordinances. 

However check with your local town on specific ordinances.

Congrats and best of luck.  

@Tony B

What kind of acquisition price?  How much are the rents?  Any repairs required?  Is there documentation on vacancies?  

I wouldn't be opposed to something like this if the #'s worked.

@Chris M. 

$8-10K hmm....I would budget $30K in repairs at least. 

I don't know your market but if the property is only $30K you are probably not dealing with an appreciation play and probably a Cash Flow. 

But if you upgrade the property can you get more rents?  

will you over improve the property? Probably want to talk to your realtor about ARV.

Yes get your license. MLS access alone is worth it.

what location specifically in Chicago?