All Forum Posts by: Account Closed

Interesting question Anna, have given thought to rural investments myself. Usually the ROI is higher. 20% vacancy is really high. I would probably avoid somthing that old rural, as the return on improvements will be more marginal. Suspect the best rural tenants are old and rent due to lack of good condos, think pre nursing home ranch style apartments, ideally with garages.

When I look at prior sales in the MLS, consistently notice the best deals going to cash buyers. Leveraged buy and holds might be great if the market keeps appreciating, not so great if the market declines. Same thing doing multiple flips at one time with leverage, some things go wrong and all your capital could be lost.

A lot of people associate stainless with an updated kitchen and granite with higher quality. Mix granite and stainless in with cheap cabinets and you still have a cheap looking kitchen. It's the overall quality and utility of a kitchen that creates value. I've read before lower economic class tenants are more impressed with stainless.  

Interesting thread, I am taking the totally the opposite approach. Have a real estate license with a low fee managing broker. Will be listing one my rentals on the MLS with a 5% Co-op fee. Over 90% of the listings in this area pay a 2.50% Co-op.

Putting a property on the MLS without a Co-op fee is useless. Putting a listing on the MLS with a double sized Co-op fee, might be overkill. Would rather have extremely motivated agents trying to sell my property. Even with the internet agents still have a fair amount of sway with buyers. Agents often claim commission has nothing to do with their sale process, no doubt there are some agent saints with purly selfless motivations, I like my odds of dealing with non saints a bit better.

Did this on a condo purchase, the association had a move in fee, seller had to pay. Title fees were higher than normal, seller had to pay. Structuring your offer that way keeps you safe from some potential vultures, the down side is some sellers will reject on principal. 

That post definitely was not interesting enough to post twice, not sure what happened.

Thanks Elbert, getting ready to sell one of my rentals, when it sells will use the proceads to purchase a flip. I am not sold on any particular area, keeping my options open.

Sean, have you ever considered working with Networth Realty? 

Met with them recently, they appear to be expanding in the Chicago area particularly on the far Southside and burbs. 

Sean, have you ever considered working with Networth Realty? 

Met with them recently, they appear to be expanding in the Chicago area particularly on the far Southside and burbs. 

Rich, my rentals are all West Suburbs, no experience with anything that far South. South and far South has been much slower in the recovery from what I have read.