All Forum Posts by: Timothy Harstead

slow and steady wins the race with real estate I honestly thing with out a ton of money to put down cash flowing enough to stop working is gonna be tough to do in 2 or 3 years but in 10 to 15 you could be on retired on an island if you take the right steps today.  

as for those saying to use a property manager or not if your looking for the most instant cash flow obviously a pm would take away from that, but if you are not experienced in working with contractors you may lose far more by a job going south than you would hiring an expert Pm.

Also while building your empire to get you to not work you probably will make a much bigger dent doing your 9-5 work or finding more ways to make cash as you pay down your mortgage the true cash flow comes after the mortgage is paid off, so for this I would Hire a PM while you are still working and build to 5 to 10 paid off buildings and than self manage when you decide its time to stop working the day job

Big win, your team is everything so glad to see you utilize a team and not try to do it all on your own, and show the success it can bring

I run Chicago Style Management, we just started a brokerage arm and would love to chat and see how we can help ignite your career.

We relocate tenants if there is a hazard,  always use your own home as a guideline would you move out to get new floors probably not, now if a pipe burst and created mold you probably would.  but for floors they just need to move there furniture for a day, your doing them a favor,  we do floors for tenants with them living there all the time no problem

Until builders can catch up and create millions of homes, I think we will continue to see huge increases in sales prices, however, the lack of sellers means numbers in terms of how many houses sold will continue to go down driving prices up even higher

as for the numbers, look at what comps they are pulling. Start to see what makes one more than the other you might have one site looking at quartz counter tops with huge living rooms and the other looking at plastic counter tops,  being able to identify this will help you identify where your property could sit.  

also especially for the first few I would look to build a good team in the area you want to work so they can help you understand these differences

I just got off a call yesterday with a investor group with a bunch of blue island buildings,  from there experience tenants have been pretty good but the buildings are older and a lot of unexpected problems have arisen so I would say make sure to have a good inspector and some reserves incase work is needed and its a good area to cash flow.

The last five years it was really easy to eat, unfortunately, that is not the norm and shouldn't be for a lot of reasons,  with that being said real estate has always been a much harder investment to get into and maintain than say the stock market, with that being said if you take the work to learn it and find the gold inside the rocks, you'll make far more than you could on a stock,  if it was easy to do everyone would be doing it and no one would be making money.

You may be able to do one contract, however, we have run into issues with having to show a proper management contract for utilities or subsidies that we needed one that just had the one LLC on it. With that being said if you're using an esig software we are talking about a few clicks why not just do it the long way to be safe.

get an attorney or property manager involved who has attorney connections. They are going to keep pushing you back further and further, and if you don't start the eviction process, you may be playing their games for another year or two.