All Forum Posts by: Cesar Torres

If you have been contacted on Facebook you can take a look at their profile as a first step to get an idea about who they are and if you see any potential red flags.

Using a Gross Rent Multiplier of 5 it would be 252k. However GRMs can range depending on the area and are a rough rough ballpark estimate not very reliable. It is better to use cap rates.

Thanks Patrick Liska I had a guy quote me around that price range. Just curious, are those numbers for the rewire do it yourself numbers or with a contractor. I know a lot of variables are involved but just trying to get a feel for how big a deal this is. Plus if I can't get the funding the deal is dead anyway.

Currently looking at a house that has knob and tube that needs to be rewired. Also has a 60 amp fuse box that needs to be update. Not sure if I will even get approved for financing if appraisal doesn't approve. House is about 1000 sq ft. 2 bed 1 bath on second floor and kitchen and living room on first floor. The k&t was found in the attic. Also there is aluminum wires run to the main fuse box. Appreciate any advice on updating this and price range of this project. Thank you in advanced!

Any recommended Home Inspectors in the Chicago Western Suburbs, Cook County, Dupage County. Looking for someone with a track record of expertise. Also if you can provide a price range I should expect to pay them.

I recently visited Playa del Carmen and Tulum for vacation. To me as a tourist, Playa felt a bit more safe and Tulum seems like it's up and coming. I guess it comes down to the risk / reward. I don't know about the real estate market down there to give any insightful advice.

Don Colagrossi Chris Tan Rogelio Rosales I am buyer looking for a SFH or Townhouse in the La Grange Brookfield and Westmont Downers Grove areas. I am looking a live in flip, cosmetic flip, as I will be needing to finance it with a mortgage. Since guys are familiar with Dupage I'd appreciate your thoughts on those neighborhoods mentioned. Thanks and good investing to you all!

Thomas King I grew up in Plainfield and live there now. It's a great place to live. The downtown area has been greatly improved in the past couple years. Schools are also decent. There are a lot of newer homes on the market and you can find lots to build on for a reasonable price. I work in downtown Chicago so I'm looking for a place near the train for a quick commute, otherwise I'd look for a place out here. I like the Brookfield La Grange and Westmont Downers Grove areas. The supply of fixer uppers below 200k there is scarce so I'm having a hard time finding something off the MLS. Recently a good deal came to market but sold the next day all cash so I had no chance. I'm working with a mortgage broker as I'm looking for a primary residence. On the topic of finding up and coming neighborhoods. I mostly have been relying on article from the Internet and get a sense of what others ore saying. Most of the material on the local markets is mostly about Chicago neighborhoods like Pilsen, Printers Row... However I'm looking for more of a suburb to buy a SFH. I recently read the book by Zillow and there were a few takeaways from their data mining that were statistically significant. The biggest one was that houses appreciate faster when a Starbucks opens up nearby. So I definitely keep my eyes and ears open for newly opened or future plans for Starbucks.

Thomas King All of those topics sound like valuable knowledge. I would love to have the opportunity to learn more as well. I'm currently looking for a SFH in the Chicago western suburbs along the BNSF. I find myself perusing the mls on my free time. Another topic of interest to me is how to spot an up and coming neighborhood. Do you have a blog or website?

Al Williamson I like 10. At least you are being up front about the surrounding area.