All Forum Posts by: Tom O.

I would like to start a meeting at the lunch hour in downtown Chicago. Nothing fancy. I know food courts where we can just get food and grab a table. One I know has separate rooms that while not private, we can basically hog and take over to ourselves. 

Who's interested and when? What day of the week is best? 

Start in a bar. Preferably one with a separate room. Pick on off hour, say, maybe 6 or 7 p.m. on a Monday night. 

I have read and seen people say "find me the deals and I will pay you." Is that really true? So, for example, I've found two multi-unit buildings in my City, a 3 and a 4 that should cash flow decently. They are full occupied at near market rents. Can I really turn this on to someone else? And, more importantly, get paid? How? 

Matt K. What is the Morris Invest ongoing disaster?

I can't believe the $100 a door thing is a thing. That just seems like not enough to me given the risk that a roof will blow off or some other major problem. 

I don't understand the never will see it part? You're investing that kind of money so what's the cost of a round trip plane ticket? How do you even know that the building exists and you're dealing with the owners, etc.? I would want to "kick the tires" so to speak. Seriously, you wouldn't buy a car site unseen. 

After you buy it, again, why not go down there once in a while? You can write it off as an expense and wrap a vacation around it. 

Seems highly risky for a first investment but those numbers are pretty low for a 4. Should cash flow nicely. 

Not sure why you even need a closing? What happens if the guy just gives you a quitclaim deed? You record that? Aren't you the owner? This is not legal advice and I am not your lawyer. 

Pay your debt and scrape up the 3-5 percent or so you'll need for a two unit. Live in one unit and rent the other. 

Like the others, you want to find good contractors in all the trades and GC it yourself. This is assuming you don't need extensive stuff, plans, architectural drawings, etc.

I have an amazingly affordable window guy. He replaces my windows but he'd probably be good at fixing as well. He's reasonable.