All Forum Posts by: Trevor Bond

@Mike Wood Thank you for your insight that was very helpful. Have you came across many zoning issues over your the time you have been investing?

@Marcus Auerbach Thank you for your help and Merry Christmas!

Hi all,

I am looking to move to a new city to do my first house hack and start my real estate journey. I am trying to find out if a city is allowing or disallowing future builds/permits for multifamily buildings. I do not want to move to a city and learn that a city is not fond of multifamily buildings. 

Also, if you have any tips that I could look for related to legal issues, that would be helpful as well.

Happy Holidays and thanks!

@James Somers

Hi James,

I am not a fan of maxing out 401k for a few reasons:

1. We live in a country where taxes keep getting higher so you will be paying more and more on your return when you turn 59.5 or pull it out.

2. You can not touch that money for years ahead so it is a good idea to use it as an investment and buy an asset that will cashflow you money every month… RE returns/dividends are much higher than other investment portfolios.

3. In real estate you are the point guard and with stocks/bonds/funds you are in the stands watching what happens. Your success in real estate is up to you. In stocks, bonds etc. someone else is making your decisions and could turn your investment into cents on the dollar overnight and you have no control. In RE, you make decisions and have an almost-infinite amount of control as to what returns you are likely to get.

Hope this helps!

Hi,

I currently go to school in Illinois and l understand that this state has property taxes in arrears. As a rookie investor l have heard that is unattractive. I am wondering why? The principle of putting off debt until later sounds like a good idea…. I am confused on this and could use some help.

While I’m here what makes a state unnatractive to invest in (other than high property taxes) compared to other states?

Thank you and God Bless!

@Trevor Bond

In that situation above, lets pretend the existing tenants have 6 months left on a 12 month lease and the seller never told them he is planning to sell. I don’t want to surprise them with a “hey im the new owner and l need you to leave soon” (obviously l would be more professionally).

@Sean McKee

Thank you for your insight! That was very helpful and l appreciate you using your own experience to teach.

If the tenants did want to move out, is it up to me (the new owner) or the seller to give them a 1-2 month notice that l will need them to be gone? From what you are saying it sounds like l will have to ask them to leave. Do you have any tips on how l can do this peacefully and correctly to prevent a disaster from happening?

If l were to buy a property with perfect tenants that l like and would not like to leave, would l have to evict them to do rehabs inside of units? If my goal is to rehab up to market standards and therefore market rent; how or is it possible to not kick out existing tenants as l am taking over as the new owner of a multifamily property?

Hello BP! I am going to start a REI club at my university this fall. I am going into my senior year to do it. I attend Illinois State University located in central IL. Therefore I am looking for any recommended agents, investment contractors, etc. to expand my network when l get back to school this August. This will benefit them get some networking and l could provide free labor to bring value to them. Please message me any suggestions around IL please! Thanks and best of luck BP

Hello! I am from Indianapolis and am considering becoming an appraiser. I am asking for appraiser connections around the Indy area to learn more about the industry. Thanks!