All Forum Posts by: Michael K.

@Dinardo Rodriguez I think with all the costs you built into your analysis it runs rather on the conservative side. CapEx is typically not a monthly expense, might be better to determine what projects need to be done after you acquire it and what they will cost.

Couple of questions, what are the unit compositions, and where in Little Village is the property located? Have the units been updated? That will help determine whether or not your rent predictions are accurate or not. I have a 4 unit in Little Village. Just sent you an invite to connect. I can show you the numbers on my property if that helps. 

@Pete Bhanshali

Please keep us updated, I hope you can get out of it. 🤞

My managing broker is always trying to steer us and our clients away from holding security deposits. If you don't know how to handle it correctly then just take a non-refundable move-in fee. That said, as a landlord, there have been a number of times when I wish I held a security deposit because my tenants moved out and left a mess in the apartment and I had no way easy way to go after them (ex. dirty fridge full of expired food = 2 unplanned hours of my own time to clean out).

@Kevin Masterson welcome to the scene! I am an investor and agent here in the city and surrounding suburbs. Would be happy to chat with you about my experiences and what strategies I have found work well. Feel free to reach out!

@Bruce Hanson I'm a licensed broker in Illinois but also have investment properties in NWI. Would be happy to connect!

@Luka Milicevic @Ross Carlson

Luka is right that the incentive is not really there for an agent to spend months with one client looking for a property and putting in tons of lowball offers to try and get the absolute best deal. That said, agents will still do this because they know that investors are more likely to bring repeat business. If you are planning to do multiple deals every year in one market then I think it makes sense to get your license. But if you’re not buying properties that frequently, or if you’re going to be working in many different markets and states, then it would make more sense to work with local agents who know the area and are licensed for that local.

As a real estate investor, once you leave the closing table it’s going to be your knowledge and skill that makes the deal work year after year, not your agent. The agents role is primarily negotiating and knowing the market.

I think you are talking about Miller Beach, Beverly Shores is closer to the Michigan border and Michigan City

I own an Airbnb in Miller Beach would be happy to talk to you about my experience! I'll attach the link https://www.airbnb.com/rooms/4...

Does anybody have experience investing in DST's? How difficult is it to sell out of one? How does it differ from syndication? My client is looking at about 10k in taxes, still trying to assess if going the 1031 route is worth it.

 Obviously, it helps if the agent works with a lot of investors or is an investor themselves but I think the directions you give them are just as important. As agents, we cannot decide for you what kind of return you need on a particular investment. We also do not have control over how experienced an operator you are. I think even an average agent who is given clear directions can find some decent properties for you. If you just tell an agent "I'm looking for an investment property" your search is not going to be very fruitful. If instead, you tell your agent that you require a property with X amount of cash flow or X cap rate you will right off the bat be engaging in a more productive conversation. I'd be happy to show you how I analyze properties for myself and my clients. Feel free to reach out!