All Forum Posts by: Account Closed

Interesting Lumi, if I was selling, your money would be as green to me as anyone else's. Sold my last house to a real estate agents brother in-law, the above average Co-op fee money staying in the family might not have mattered, will never know?  

MLS data and ability to talk with agents directly are major plus's, the downside is the fees. Unless your doing regular buy or sells yourself or large transactions every few years, you need to sell for others to justify the expense.

Anyone ever purchase an office condo or condo storefront?  Noticed some of these sit on the market awhile, wondered if cash might be a bigger king with em?       

Okay, don't believe it for a minute, but sort of feel flattered she went to the trouble to BS me.  

This thread has made a great argument for higher Co- Op commission rates, particularly on smaller sale priced properties. 

I do all my own repairs, save plumbing, rent units myself, no management fees, my vacancy rates are negligible, nothing factored in for that. 

Saumya, my last purchase 9/17

Class B area

Class C property

115K

$1500- closing + attorney

$1500 Misc, cleaning paint, plumber

_______

118K total

Income 16,800

Expense 7200

Net income 9600

Will do about an 8% ROI

Oak Park IL

Cook County

Oak Park is in the process of massive luxury condo and luxury apartment construction. 

For someone investing from afar a lot of advantages to condos where most of the property upkeep is handled by someone else. One of my rental condos have not been in it for a year and 1/2. 

Great topic, seems like everything foreclosed in the MLS is way overpriced, in a crappy area, and or full of suckers over bid in.

Would recommend you purchase all cash where you can drive to and do work yourself. Interest cost for high risk loans kill profits, so does hiring help and not thoroughly looking over properties yourself.