All Forum Posts by: Vincent Incopero

@Angela Dani - Here's a good resource to use along with the documents that were provided in response to your FOIA request: https://webapps1.chicago.gov/buildingrecords/

You should consult an attorney to make heads or tails of what had and is going on and what the next steps would be. 

IMHO (based on MANY PRIOR TRANSACTIONS), you can and SHOULD bid without TOO MUCH concern, as most Contracts have a 5 day escape clause for diligence and inspection related defects, EVEN IF the contract states that is for the sale of the property in it's AS IS condition. 

@Art Perkitny, well said. ROI is only half of the picture and stability and other factors are equally, if not more, important than ROI in and of itself.

The starting kernel should be investment objective: IE Cash flow vs Appreciation, asset class and desired ROI. From there, you can start to zero in/X areas from the expansive map.

Once you have a cluster of areas, you should work on making relations with a PM to see if they service your desired area and the attendant costs as this will be an important consideration in the total mix of information. Good areas will hover around 6% and less desirable areas will be around 10%. 

Debt averse by as a result of higher education loans. 

I'm not the one to give financial advice outside of $100 ROI on a 200k+ asset sounds at best, like a hostage situation, and at worst, financially ruinous.

With that kind of $$ down (with or without leverage) you should be able to see a healthy cash on cash return in many middle america markets. 

@Nick Gavrilov - You may want to venture out of state for such little ROI. WA is an expensive market.

Turnkey providers exist on BP. IMHO, Wholesale may not be the best play if you are just getting started. 

@Paul L Harast Jr - You need to determine what your REI goals are, both long term and short term. Once you know what you want to accomplish, you can bounce your thoughts off of others.

That is to say, cash flows aren't going to be enormous in stable areas, but appreciation should be around 5% annually and depending on the number of units and how much value you plan add to the building during your term of ownership, you could easily end up living for practically nothing on a monthly basis. 

@Paul L Harast Jr - Not sure what you are looking for, but happy to help if it is within my wheelhouse. 

@Andre Deville get a UPS Box for $200 a year or follow @Patrice Boenzi's advice and use your attorney's address for your principal place of business. I allow my clients to use my address for a small fee each year (equal to the time cost associated with throwing away all of the junk mail I receive from Comcast, Amex/CapitalOne etc). 

You don't want the public at large knowing where you live, even though it's pretty easy to figure out with a simple Google search. This is why you would be wise hire an Attorney to do your formation work, as opposed to LegalZoom or your accountant, as these tricks of the trade are not widely known or disseminated by the average person. 

@Account Closed call an attorney. Better knowledge, same cost. 3rd parties will charge you $400+, attorney should be in the same price range

@Art Maydan Retrofitting isn't that easy. Stud finders wont locate the copper lines and, to be effective, you have to run the wire on the entire run of pipe. 

If you have pipes run in insulated cavities or runs that are mostly beneath ground level, I wouldn't be too worried as the ambient temperature wont drop as drastically as the exterior. 

FWIW, most plumbers don't run copper on exterior walls for this VERY reason

@Ali Khan - Location specific for school as there is an in class component. 

I recommend this outfit for DuPage https://iloverealestateschool.com