All Forum Posts by: Adam Juodis

@HJ Wang neighborhoods are rated on a scale from A-F. Think about it like a school grade scale. A is a very good thing, but F is not. An A neighborhood has excellent population and job growth, great schools, great economy, and nice houses and infastructure. F properties are also known as "war zones," an abundance of violence, bad economy, declining jobs and population, bad pool of tenants. When he says C/D neighborhoods in Joliet, those are less than middle grade. These neighborhoods may be run down, the tenant pool might be below average, job growth might be stagnant or declining, etc. You get the picture.

A good comparison that you can relate to would be Naperville=A neighborhood, Gang infested Southside chicago neighborhood=F.

Let me know if you have any more questions about this.

@Clayton Mobley I am not very educated on turnkey companies. From what I understand is that these companies sell rehabbed houses that are ready to rent right away, and also find and screen tenants, as well as managing the property. For a guy like me that spends 60+ hours at work a week with commute time, that sounds like an awesome thing. But can you explain the fees for turnkey companies? Are the fees upfront, or do you share your returns with the company? How do these fees affect cash flow of a property. Seems too good to be true to have all that stuff done for you and still having a nice cash flowing property. Thanks for your input!

@David Dachtera Yes, basically neighbors, I'm on the other side of 59 in Summerfield! Please let me know of you know of any local real estate groups or meetups, I'd be very interested. So far, haven't found anything near our area.

@David Dachtera Ah yes, rehabs and foreclosures. I still have not purchased any properties- still in the process of doing my homework. I assume i'll have to find a good agent to get leads on cash flowing properties if I want to start my investment portfolio here in Plainfield.

Funny thing, I also live in a subdivision that is a corporate boundary of Joliet, but a Plainfield address (Theodore and 59). 

Thanks for the insight!

@Chris Tan aren't the new construction houses built post 2000 typically not very cash flowy? I live in plainfield and I have been looking at Trulia and Zillow, and comparing similar house rent rates. What I found is that many properties don't even hit the 1% rule. Am I wrong to trust zillow/Trulia on this? Plainfield, being a A-ish area for real estate, I wouldn't expect to be very buy-and-hold friendly.

amazing success story! You have me inspired. I have not yet purchased a property yet, but soon enough that won't be the case. I've been doing my homework for the past 6ish months. From podcasts and books, I didn't read much about turnkey companies, but what I gathered was they cost a big chunk of your cash flow. I saw your post on page 1 that your turnkey properties are cash flowing 300-500 per door with Capex included-amazing!

So they find you a property under your specifications, rehab, find and screen tenants, and manage for you, while getting a superb cash flowing property? Seems too good to be true, would love to hear more on this. 

One of my problems is I work a ton, and have little time to find/analyze hundreds of properties and send in offers, but a turnkey provider would seem to solve alot of that!

I'm not experienced enough to answer your question, but I'm curious, what suburbs are you looking at? 

@nathan waters thanks for the reply!  Crazy side story, i actually live a block from where the plane crash happened today... I'm looking to invest in the Plainfield, or nearby suburbs, somewhere that I can find a property that follows the 2% rule. Not quite sure if the properties around here can even meet that, by looking at the rent vs cost prices in my subdivision. Like I stated in the original post, I'm having trouble setting up property analyzations just because I don't know where to go. I will check craiglist though, thanks for the tip. And congrats on having 3 properties! You made it over the big hill and it should come easier from here on out. I'm still trying to get that first property, but I feel that after I do, it will be a big relief!

Great info, thanks Russ!

Hi guys. I've been a member for a while now, but have not been actively using the website. In the mean time since I've joined, I have been listening and doing some reading. I've definitely developed a solid foundation of knowledge, I feel, as a beginner, but if I had to implement what I learned, I wouldn't be sure exactly how to start. EX: I'm looking to start with buy and hold, and would like to start evaluating and doing the math on properties to determine cash flow, but how do I start- Zillow/Trulia seem crazy inacurrate sometimes and I don't want to be mislead. Do I have to find an agent and ask for MLS listings just to do homework?? This is just one of my many questions I feel having a REI mentor/group would remedy.

I was wondering if there was a section of the forums for organized real estate meetups(The app on mobile is super buggy, and I can't seem to find anything). I'm from Plainfield, Illinois, a chicago land suburb, and was wondering if there were any real estate groups that meet often nearby. I've done a solid amount of due diligance, and now it's time to start interacting with other investors to further strengthen my knowledge about REI! Thanks! :)