All Forum Posts by: Aaron Howell

Deal looks pretty solid.  I would wonder about neighborhood (you probably already have) and the availablity of renters (I would assume Fayetteville would have lots of college students).

Why Chicago ?  Are you from there ?  I've recently had experience working with Holton Wise Property Group in Cleveland/Parma, Ohio.  They are very comprehensive and pretty much babied me through the whole process (initial setup with property management, repairs, and finding a tenant) all within a 3-4 weeks.  

Welcome @Neil Henderson!!  You're in the right place.  Check out the Podcasts !  You can listen and learn as you drive, work out or have downtime. 

2BR tenants usually don't last long is the stigma.  Either two people who are roommates and they split after a year or two OR a married couple who has a spare bedroom but then have a kid and need more space.  

If it had 1 Bathroom that may be good long term b/c less to go wrong or replace/remodel.

Bigger Pockets has a book for sale called The Book on Investing in Real Estate with No and Low Money Down .  Excellent book 

Welcome to Bigger Pockets !  

Sounds like a small margin of error all around.  Small upside for all your work.

Welcome @Sam Roopah.  You're in the right place to learn.  Check out the Podcasts. 

I purchased one in November and then again in December (both started about the same time). Be sure that each lender knows what's going on with the other lender. Your DTI will change for one knowing that you're going to be getting a loan from another and vice versa. They get a little cray-cray when new debt shows up.

I've used HELOCs several times to purchase new properties.  I used it first in 2012 and my equity line has expanded over time and I purchased in 2014 and then in November 2015 again.  The bank should work with you to increase your line as you get more equity.  Its a great tool in the toolbox to use.

Looks great.  If you start laying it and you don't like it take it back.  Sams/Walmart will take almost anything back with a receipt.