All Forum Posts by: Peter Skobic

Hey Eli, I am a rental investor, flipper and DSCR lender. It only takes me a couple of minutes to run the numbers for you and give you a breakdown of your cash out amount, the new mortgage payment including taxes and insurance and the projected cashflow. Let me know if you want to connect and I will help you analyze the options!

Free Zoom call with experienced investors answer questions from newbies and talk about our own first deals. We are BiggerPockets fans, we don't sell anything and the call is open to all. 

To join the call, click this link on Wednesday 3/17 at 6:30pm PST:

https://us02web.zoom.us/j/3416...

Keep in mind, if you click the link before that time, you won't see anything there because the call doesn't start until 6:30pm Wednesdays. 

Hope to see you there!

Great idea @Karen Margrave we'll be there! Please count in two people for 2/15 at 10am. See you there!

@Sheree H. Great post Sheree, I was hoping that was the case!

This is why @Jon Holdman is a moderator with 10k+ votes. Well done, sir.

@Alick Patrick I agree with @Lumi Ispas and, as always, I am entertained by the 4-flat terminology used in Chicago hehe! But seriously, I think this is the best option given where you currently are in your investing career. While turn-key properties match certain investment styles, you need to keep in mind that many people will say a property has great cashflow when they are trying to sell it. Expenses are often greatly understated and properties frequently marketed significantly above market value. I also find that SoCal is often impossible to cashflow without adding value, but with your kind of income, you should be able to move into a building with 2 - 4 units and start exactly as Lumi suggested. Since you will be living in it, that 3.5% FHA loan should be within reach.

@Account Closed I don't know how many rentals you own, but if people are willing to pay 9% more for your unit, then it may be time to look at all of your rents and raise them by let's say 5% across the board. This would only tell me that the unit is under-rented to begin with. 

@David Begley @Anna Watkins Wow... I didn't think to look in the simplest place. Thanks both!

@David Begley I literally copied and pasted your post into my permanent files that I keep on the Atlanta market. You call it long winded, but I love the detail. This is what makes BP such a great resource. I would have clicked "vote" twice if I could. Do you know where I could find a simple map of the future Beltline? The map they offer on their website lacks detail and it's impossible to see which neighborhoods it's close to..

@Dooreuhn Cee Thank you for the post, I always like to see some debate. I see that you currently invest in the Chicago market. I heard that the landlord tenant laws over there are sharply tilted in the favor of the tenant. Hope you haven't had to deal with too much of that.

@Rick Baggenstoss Hahaha, I wish you the best of luck with those rentals! I am in the same position now. Just got under contract on two properties. One inside the perimeter and one just outside, both in the south. I hope we made the right decision...