All Forum Posts by: Adrian Miller

@Adrian Miller thanks for weighing in! Could you compare and contrast Pace's mentorship to some of the other less valuable ones you've been a part of? What's the difference?

Hey sorry for the delay.

Yea Pace's mentorship is very community-orientated and Pace care's a lot. He's always investing back into his students. Just last week he paid for us to go to a Grant Cardone workshop. And the amount of information and training that he provides is overwhelming. It's very hands-on. And he's created a market where by his students can do deals with one another. It's pretty awesome. If you want to join here's a referral code. Just enter my name in section 4 and you'll get a discount. https://subto.typeform.com/darren.

0 Votes

I've done several and have learned from each of them, but not all are created equal.

A lot of information you can find on your own, but a mentorship can speed up the process.

My subto mentorship is by far the best value of sunny mentorship I've ever been in. And it's not even close.

1 Vote

There is a SFH that was converted from a MFH that I'd like to convert back to a MFH.

Has anyone dealt with this before? Any tips? Do you comp the SFH as a SFH to buy but analyze the deal as a MFH for buy and hold? I'd assume so. I think it appraises higher as a MFH but I'd of course buy it at the SFH rate. I'm more concerned about any gotchas that I may not be thinking about.

Any information is valuable.

Thanks and regards,

Adrian

0 Votes

Quote from @Sean McKee:

Quote from:

@Demetrius Davis don't listen to others telling you to worry about what the seller thinks and the other offers!

If another buyer is too ignorant to do the research you have and overpays - why should you compete with them?

Your proce reduction should be based on 3-unit comparables or the cost to install separate meters and other associated costs to turn it into a legal 4-unit.

@Drew Sygit - Your advice is spot on and I agree that’s how it should be done. But unfortunately in Chicago this is a very common situation and the truth is there are lots of investors and owner occupants who don’t care. I think everyone else is simply saying that the reality is the seller might simply move on to the next. If he’s ok with that then great, but if he’s not and wants the deal then he should tread more carefully. Ultimately each investor should determine if they can handle the risk associated with the deals.

Facts.

I've run into this situation as well. Listed at 3 or 4 unit ends up being a 2 or 3 unit with a bonus illegal in a lot of cases, apartment. When doing the deal it has to be based on current sold comps and if it's a 3 plus 1 you have to price it as that. Especially if it's an illegal unit in the basement that income goes away and the valuation goes down with it.

2 Votes

Chicago, Illinois

Hey next event you guys have let me know.

0 Votes

Chicago, Illinois

Quote from @Kelley Ogletree:

My position can't be unique... I have a 6-figure W2 income but really will never be able to retire on it. As a single mom, I made every financial choice based on my kids needs at the time. We have a great life and I raised fantastic humans, but I never planned for my own future. So, here I am at 50 years old with adult kids and no retirement. I would LOVE to be able to leave my 9-to-5 in the next three to five years. My dream is to have STRs for cash flow to support myself and for personal use, but I don't know if I should start with that or maybe BRRRR a house or two (or more if I love it) to generate funds to get into the STR game. There are so many different ways to get started in RE investing and I don't have time to make the wrong decision out of the gate. I'm hoping someone on this forum will be able to help me narrow it down. Here's the down and dirty of my current situation:

$100k+ annual W-2 income, but a maximum of $750/month available to invest

$30,000 in the bank

$140,000 equity in primary home (selling my house is not a step I am willing to take)

Below average, but not horrible credit score (my son wants to do this with me and he has a good credit score, but not much in savings)

BRING ON THE ADVICE! Thanks!

Hi Kelley,

If it were me, I'd start with a 4-unit building for my son and have him live in one of the units and rent out the other 3 with a NACA or FHA loan (move in 2 years and repeat). I'd look for something that I can force appreciate. I'd refinance and pull my cash back out. Then go do it again. I'd focus on the 2-4 unit space until I'm cash flowing enough money to go bigger. If I can't find 2-4 unit buildings, I'd look for 2 BR 1 BA houses in appreciating areas with good school districts and low taxes and look to do some moderate rehab and rent those out.

The thing is that you have to start finding deals. Once you do, you'll see the opportunities that you'll want to jump on.

It's just my two cents.

2 Votes

Saint Louis, Missouri

Hi,

I'm Adrian and my team and I are looking to invest in the Chicagoland, Milwaukee, Indy, and New Buffalo areas.

Would love to connect with so other like-minded individuals.

Regards,

Adrian

1 Vote

Chicago, Illinois

Quote from @Adam Monday:

Just seeing if there's any flippers out there doing a renovation in the northern suburbs and if possible maybe if i could stop by to take a look just to see what stage the process its in and just to get eyes on and actual project. Thanks!

Hi Adam,

I'm in the Chicagoland area. What exactly do you need?

I don't have an active project at the moment, but will be starting one soon.

0 Votes

Chicago, Illinois

Quote from @Tyler Lingle:

I can help with flips in Indy ... Cheaper and more landlord friendly here :)

Hi Tyler,

I'm in Chicago, and I'm also looking at Indy and Milwaukee.

How's the Indy market? What areas would you suggest looking into?

Thanks and regards,

Adrian

1 Vote

Chicago, Illinois

Quote from @Karl Denton:

Have you talked to a hard money lender, most HML guys by me would fund this deal. I would maybe stick some of your capital to offset costs depending. However network with some other investors in your area, there has to be someone that can fund it. Join your local REI group or facebook group.
Other option is you write this up to advertise to private investors or ask everyone you know if they would lend money with a percentage interest back to them.

Think Creative! You can DO IT!

Thanks Karl,

I really appreciate the encouragement. I'm looking at local meetups as we speak. But I'm determined to see this through.

Regards,

Adrian

0 Votes

Chicago, Illinois

All Forum Posts by: Adrian Miller

Adrian Miller has started 4 posts and replied 13 times.

Post: Joining a mentorship/ mastermind - is it worth it?

Post: Joining a mentorship/ mastermind - is it worth it?

Post: Has anybody dealt with converting a SFH back to a MFH

Post: 3-Flat or 4-Flat Zoning Discrepancy

Post: Construction Project Walkthrough (Pop the top)

Post: Too many options! Where do I start?

Post: Looking to connect with other Investors

Post: flips in suburb chicagoland

Post: flips in suburb chicagoland

Post: General Investing Questions / Strategies