All Forum Posts by: Tj Floros

My situation might be kind of different than most. This is all very morbid to me but I want to be prepared for the decisions I need to make in the future.

My grandmother passed away a few years ago and her house is in trust. I am currently the only person on the trust. My father wants me to have the house. I have an uncle who is in the later stages of a battle with cancer. I am the beneficiary of a life insurance policy that will pay $50,000. I currently have about $30,000 in credit card debt. My plan is to keep the house and to use this as my first rental. The house needs some work (probably $30,000) to renovate. That is a very rough estimate. I’ll know more when I get some bids. My question is should I pay off my credit card debt(which would leave me with a very nice credit score) and use cash to rehab? Or pay off debt and take a small mortgage out on house for repairs? House is probably worth around $160,000 as it sits now. Rental comps go for around $1800 in areas. Property taxes are 8k per year.

Has anyone found where prices for multi family buildings make sense around Chicago? When I look at rent prices versus mortgage, taxes, utilities, multi families are priced so fixed monthly costs are higher then the rents. Or you'd be making $0 monthly with 20% down. Am I looking at this wrong or am I looking into wrong places?

 Hi Tj, 

Yes please send me the link! 

Thanks, 

David

@Tj Floros I'm getting started in real estate and based out of Chicago suburbs. Can you send me the link as well? Thanks in advance! 

Hello, 

Does anyone know of any real estate meet ups in Chicago? I've been investing in other states MN & OH, but would like to start investing in Chicago where I'm currently located. 

Thanks, 

David

My realtor sent me a pdf but it's not fillable. My realtor is a dork. Thanks. 

Hey everyone! I’m Andrew Bish from Chicago. I currently work as an insurance agent and support a lot of homeowners and investors, which has sparked a real interest in real estate on a personal level. I’m here to learn, connect, and eventually take the leap into investing myself. Looking forward to picking up insights from this community and getting a better understanding of what it takes to succeed in this space. Thanks!

Does anyone have a good underwriting software or excel recommendation for small multi family?

Hello my name Sam and I'm a Real Estate Investor located in Chicago. Single Family Fix&Flips and Multifamily BRRRR projects is my niche in the markets of Illinois, Missouri and Arizona. I'm looking to connect with Fix&Flip , Agent, Lenders and Contractors.