All Forum Posts by: Tony Hardy

Some banks that think outside the box are Lakeside, First Eagle, Urban Partnership. Depending on where you plan on investing and the property type I'd look into CIC also.

There are opportunities in all areas of the city depending or your goals and objectives, property type and in that zip code in particular proximity to Midway International Airport.

Andrew Dorazio let me know if youd like to have coffee sometime soon. I'd like to get a better idea of your investment strategies. That way as we get assets in inventory in your strike zone I can get them in front of you.

www.bronson-kahn.com

The law firm of Bronson & Kahn provides high quality legal services to businesses and individuals. The firm's attorneys ...

Dan Bronson

(312) 553-1700

The same brokers in Illinois that have on market deals may have off market deals. To get to them you may need to build a relationship.

Is the event at 10am or 2 pm?

the way I see it is that the deal is about a 5.95 cap on current numbers if you don't live in the property and about the same cash in cash return leaving about 5,566 after debt service.  Moving in you can expect to contribute between $20,000 - 31,000 per year to the deal depending on the apartment you take.  Year 1 assuming you do everything right the property will net about 48K before debt service.  Cap rate depends on what you put into the property to increase the rents plus acquisition costs.  I used a multiplier to assume taxes increase to about 9,600 based in the purchase price, added in rent increases of 350 per unit which is the average of your estimates. Red ever of 250 per unit and 4,200 in soft costs. Also a 6% vacancy.  You living in the property merely adds 25% to the vacancy.   Management cost of 6 - 8% is nothing try paying it to yourself for all you do the first year.  Believe me the second year you'll be happy to give it to a third party.

thanks for the heads up about the keywords and the welcome

Hey guys, this site looks like a great forum. Can't wait to contribute!

Hey guys, this site looks like a great forum. Can't wait to contribute!