All Forum Posts by: Benjamin J Paoletti

I bought my first triplex a year ago.

I'm ready to buy another rental but deciding between investing more into the stock market or acquiring a single family real estate asset.

What are some recommendations for investment diversification for real estate investors?

Would you recommend investing mostly in real estate and a small amount to fund your typical IRA/401k, going 100% in on real estate assets, 50/50 split, or has another investment strategy worked for you?

Thank you in advance for any advice.
 

Looking for educational and learning recommendations on developing real estate. Thank you

Looking for a realtor who can answer questions and bring perspectives on foreclosures, fixer uppers, zoning, and development in Chicago.

Looking to acquire a rental property in the next 1-3 months. Actively looking, couple properties in mind. Message me so we can set up a call.

Looking for a realtor who can answer questions and bring perspectives on foreclosures, fixer uppers, zoning, and development in Chicago. 

Looking to acquire a rental property in the next 1-3 months. Actively looking, couple properties in mind. Message me so we can set up a call.

Is it better for a new investor to save on monthly payments to build capital OR take advantage of bi-weekly payments and additional principal paydown?

@Crystal Smith @Jonathan Klemm seems like $750k deals have more potential for equity increase than the $400-$500k deals? Also dependent on the right location and financing a renovation. Any experience with a $750k BRRR like that?

 Great point on the newer properties being sold as condos and the garden units being key to cash flow. I see a lot of 2 units with restrictions on 3 units, so 3 units seem harder to come by in the city - limiting options. I have been wondering if duplexes in the suburbs have more potential.

Quote from @Tom Shallcross:

As @John Warren mentioned, the old-school timber posts and pier is best left for someone looking to gut the place. Below is a pic for reference and if you're just starting out you should punt on these.

Going back to the original question, if you do have issues with an older brick building, a lot of times running the steel I-beam across the basement in place of the old wooden one which has bent over time, gets the job done to minimize sagging on the first floor and sound-up the foundation. 

Great picture. I appreciate the insights into these older frame buildings as @John Warren mentioned as well - unless going for a gut rehab. Great to know on the price of the i-beam install. Thank you guys!

@Paul De Luca I am having a tough time seeing direct foundation issues in these homes as the garden level units are surrounded by drywall and there is no clear visual on the foundation or floor joists so that just leaves me hoping a home inspector can point it out. 

Would you have a home inspector in general or someone specializing in structure that you would recommend? I know floor bowing is not a huge concern as long as it does not dip too deep in a small area.

But you are right, having a tough time finding good deals when I eliminate these older homes so seems like an issue that is going to have be addressed one way or the other. 

Many of the multifamily properties listed in Chicago (in the $400k-$600k price range) are built between 1890-1920.

I noticed many of these foundations have settled, cracks in plaster, dips in the flooring, etc. 

If these homes are 100+ years should I be concerned with these issues and the foundation? I know some investors are considering them just tear downs at this point.

Should I increase my budget to $750k+ and try to find newer built homes or is it worth it to invest in these 100+ year old homes?

Bit of a generic question, but wanted to throw this out there for anyone seeing the same thing or who would have some insight. 

Thank you!