All Forum Posts by: Scot Howat

The best way to reduce your tax liability is to own investment real estate, other than that I don't know.

Done!

12-14% with 2-4 points.  You can find that all day.

There's a networking event for real estate investors tomorrow night in Downers Grove.  Portillos on Butterfield Rd at 7pm (in the back right).  

Should be 20+ people there

CAREIA.org

There's tons of good rentals out there on the MLS (in the collar counties). I'm buying rentals in DuPage county. Still plenty of good ones. I've been in the evictions process for close to 8 months now from a property I bought at TJSC (previous owner is squatting). In DuPage I could have them out in 4-6 weeks.

There's a real estate meet up tomorrow night (Monday) at 6:30p at the Hyatt in Lisle.  It's for a group called Chicago Area Real Estate Investors Association (CAREIA.org).  

I'll be there working the library table.  Come say hi!  The networking starts at 6:30p and the presentation starts at 7pm.  

Hey John!  Welcome!  There's a few meetups you should check out.  I know *********** (WCRT) lives in Chicago and invests in Indiana.  You may want to check him out.  

Just make sure to buy a property.  Engineers tend to analyze a LOT, which is fine, but don't let it get in your way of pulling the trigger.  Good luck!

I'm glad you're looking to expand from wholesaling, so far you're the only person that I've ever heard of actually doing a deal.  It's way easier to buy and hold a property, and it's way more profitable.  

Try out a few REI clubs and try to meet some people that house hacked. There should be plenty of them.

I agree with @Brian Ploszay, flips are getting increasingly harder to find.  I blame HGTV.  I've got one flip in Chicago right now.  I'd encourage you to get into rentals, although I'd be very careful about holding properties within Chicago city limits because of the crazy landlord/tenant laws.

Yes sir.  I bought my first property as a flip right before the market crash, then I ended up renting it out for 4 years.  And then we decided to move into the property and we've been living for 5 years now.  

I'm trying to coin the phrase "reverse house hack" before @Brandon Turner does.