All Forum Posts by: Austin Whitmore

@Evan Nix

Before Covid we had a monthly meeting in Davenport, but I guess that has been on hold like most other things. But...welcome to the QC investor family. I'm pretty new to the space as well. I only have 2 single family houses, but I will definitely answer any questions that I can.

@Kevin Miehe

I am by no means experienced, but the biggest question I have is why did you choose a portfolio lender? I don't know your credit or debt to income but you can probably beat that with a regular bank. I used Ruhl Mortgage for mine, but I know a lot of people also use Blue Grass. Also, I would probably throw in a factor for potential evictions because of the many horror stories related to inherited tenants.

@Kyle Fadness

If the fact that you live in the adjacent apartment is a point of contention, I wouldn't offer up that information. I wouldn't lie about it, but I would treat it as a don't ask don't tell. Even after they move in...I would just tell them you are the "caretaker" or "property manager". That is probably way less intimidating than "owner".

On a side note, you must either have really high taxes or a 15 year mortgage based on your numbers. If that is the case you may consider a refinance to 30 years. That would give you way more of a cash flow buffer.

@Chris Thomas. Is there a reason you are thinking about a single family instead of a small multi? It sounds like the majority of your concern is regarding dealing with the shared space. If you got a small multi family, you could house hack it without the concern for the shared space. I totally agree with @Cory Carlson. Sharing a fridge should be the least of your concern. Your primary focus should be finding a great deal on a valuable asset so you can put that money to work for you. On a side note, I do t know how much money you recieved and I certainly don't need to...and neither do your tenants. They will be much more likely to want to take advantage of you if they know you came in to a bunch of money. Talk to a good CPA and attorney (ones that own investment properties) and let them advise you on what to do regarding asset protection. Good luck and sincere condolences.

@Brandon Levi Eagan

Welcome to the site. There is a monthly meet up in the Quad cities. The next one is Dec 10th from 6-8PM at The Stardust in downtown Davenport.

I have my first investment property under contract. It is located in the Quad Cities, specifically Moline, Illinois. Does anyone have recommendations for good investor friendly contractors? I am specifically looking for flooring, roofing, and HVAC.

@Wayne Brooks

Thank you very much. That's a fantastic idea.

I have my first investment property under contract, but my realtor is horrible. He continuously ignores me, and when he does get back to me it's at like midnight. I want to fire him, but I don't want to blow up the deal.

@Tara Kinney

Congrats. You mentioned in your post that there are other properties in the area that are rundown and you are wanting other landlords to help improve the neighborhood. Do you know of any specific properties? I'm looking to invest in the QC.