All Forum Posts by: Ashley Pimsner

@Sean Graham place an address into www.spotcrime.com and see for yourself.

https://www.chicagotribune.com...

@Trey Golsten any idea how to find a true fixed rate with amortizations of either 20, 25, or 30 years for a small 250k loan on a 6 flat in Chicago

@Gloria R Lowen,

This is a copied thread of mine from 4 years ago for what it's worth-

I agree with @J Scott that the experience you gained from your flip is worth far more than the $19000-$33000 tuition to attend the Fortune Builders Mastery class offered by Than Merrill. 

However, I did pay the $200 to attend the 3 day seminar of Fortune Builders hosted by Cole Hatter, and can say without reservation that I completely ripped them off! This seminar is obviously set up to enroll students into the Mastery program but Cole Hatter was a true real estate expert and extremely motivational. The amount and depth of information provided was incredible and this seminar is definitely worth your time. If you take good notes then you can pretty much duplicate their systems or at least have a basic blueprint on how to start your business. The problem with most newbies is that they fail to take action and implement the knowledge that they have gained from this 3 day seminar.

Just because you pay $ doesn't mean you will take action.

Between the knowledge gained from 3 day seminar and free resources here on BP, you have enough info to get started.

Make sure you know how to crunch numbers and if you are unsure than watch a few of Brandon Turners video's and you will be ready to make offers.

Best of luck!

I don't have exact figures but defaults during crisis in 2008 were approximately 4% for SFH and .04% for multis, which would you prefer to own?

People who chime in immediately to your thread with negativity and also state that they were not investors, but merely facilitators should be viewed with scepticism.

Your are on on proper path with 4 flat!

@George Li

In my opinion you need to do whatever it takes to designate your property within the 45 day window.

Be up front with the different agents and if they don't want to work with you then move on as time is of the essence.

Happy hunting.

@Jim Goebel you need to determine what index your rate is based on and what is your margin or spread.

For example, my commercial loan is based on the 5 year swap rate which was 2.32+ and a margin/spread of 2.83 which when added together gives you the final rate of 5.15.

Other things to consider are what your amortization will be, typically 20 or 25 years, when your loan will balloon, 5,7,10 years, and whether you have a prepay.

Welcome @ George Broderick you are at the right place.

May I suggest that you listen to a few webinars on how to evaluate a rental property and familiarize yourself with the BP calculators as doing these two things will help answer most of your questions.

Take advantage of the free resources here at BP to educate yourself (listen to every podcast) so when the right deal pops up you are armed with knowledge and ready to pounce.

Best wishes 

@Kyle Daniel I use Zillow rental manager as it populates your rental to Zillow, Hotpads, and Trulia and it doesn't cost a dime.

Craigslist is another free option, but I have not had much success.

If renting to section 8 then www.gosection8.com 

Finally, good pictures are very important.

@Dave Van Horn

If you are opposed to rent control in Chicago please click on link and have your voice be heard.

http://www.votervoice.net/Shares/BFETcAkuAC6ZPA57o_T7FBA