All Forum Posts by: Alex Tokmazeyskiy

My close friend started investing in Cape Coral area, purchased a few properties with pools for Airbnb. Telling me it's a great area for Airbnbs. Does anyone have experience with short term rentals in Cape Coral area of Florida ?

Thanks for sharing that! Very helpful to know! Maybe someone can share something about maybe owning one in the Suburbs !

Yes, I am ready for them and believe you are right))) HOAs suck, but owning a Multi Unit for past 8 years, there are cons to those as well, like major  Roof Repairs, basements leaking, building plumbing issues etc , lawn mowing and snow removal costs and higher taxes,  those are to consider as well. In condos you don't have to worry about those. 

Yes, I am ready for them and believe you are right))) HOAs suck, but owning a Multi Unit for past 8 years, there are cons to those as well, like major  Roof Repairs, basements leaking, building plumbing issues etc , lawn mowing and snow removal costs and higher taxes,  those are to consider as well. In condos you don't have to worry about those. 

I Am considering doing cash refinance and will be able to obtain about  $140k. Thinking of buying 2 condos, since they are less risk as far as repairs etc. What areas would you recommend in Chicagoland ? With best cash return. I saw some available for around 100k near Loyola University Marine dr. Or would you suggest suburbs ? I would be putting down 40% as down-payment. 

Thank you ! Multi unit is probably more profitable, but in my experience dealing some of the large item repairs in older buildings, at times is discouraging. My 2 flat in the City needed quite a few big repairs lately. 

Jonathan, yes definitely makes sense. I was also wondering how is the rental market in the Suburbs like ; Palatine, Wheeling, Hanover Park etc.? In Chucago I never had an issue locating tenants, not too sure about suburbs.  Thank you 

Thank you guys for your replies, very helpful. Reason I was thinking of a 2 bedroom condo, is to pay cash for it and have less of a headache compared to dealing with an old building. Condos are easy in my opinion.

Bought a 2 flat 9 years ago in Chicago,  for 160k with 3.5% down. Now it's worth over 360k. I can get about 145k cash from it. Would it be worth investing that into a rentable 2 bedroom condo? I can get about 350 per month income from it probably. 

My Rental property is worth over 350k and purchased for 160k. Older property. 127k left loan started in 2012.  Thinking of cash refinancing and using 120k to buy a rental condo. Building is old with old plumbing and updates needed. I do get about $900 of income on average from it. Or was thinking maybe buying a fixer and flipping.