All Forum Posts by: Benjamin Sussman

@Justin R Melendez hey Justin. To be honest with you I feel like it depends on the opportunities currently available in your market and how fast you want to scale. You will have less cash flow if you pay property managers leading to less capital to reinvest in more properties

Just got an offer accepted on a property in Mishawaka. Would love to meet any investors in the area!

Best,

Ben

I’m a newbie real estate investor from Chicago. I bought a 4 flat in Chicago at the end of October and I’ve now saved up enough cash to put 20% down on an investment property in the same area as my current property. I’ve been looking for my second deal for just about two months now and my search has gone nowhere.

For those of you who felt the same way, that things went really slow when starting out and what helped you deal with the slow start?

I'm looking at buying a commercial property but I don't want my capital to be tied into the property for a long period of time. Is there any way I can do a refi on the commercial property to take all my equity out? I know you typically need to put 25% down on a commercial building and I'm wondering if banks or other lenders would let you refi to the point where you only have a 5-10% equity stake in the property?

Hi Bigger Pockets! What do you thing the best cash flowing parts of Chicago are or areas within a two hour drive from Chicago that cash flow well?

Hello BP community! Can someone please provide assistance with getting a list of properties in Cook County (Chicago) that are delinquent on their property taxes?

Thank you so much in advance for your help!

Hello Bigger Pockets community! I'd like to introduce myself. My name is Ben and I am a new real estate investor in the Chicago area. I currently work as a financial analyst at a large tech company and I just bought my first house hack-- a four flat in Belmont Cragin. My goal is to get to 16 doors in the next 3 years.

I love connecting with like minded people and would love to chat with everyone and anyone that is willing to give me 5-10 minutes of their time to discuss REI.

I'm looking forward to learning more about real estate from all of you!

Hello Bigger Pockets community! I'd like to introduce myself. My name is Ben and I am a new real estate investor in the Chicago area. I currently work as a financial analyst at a large tech company and I just bought my first house hack-- a four flat in Belmont Cragin. My goal is to get to 16 doors in the next 3 years.

I love connecting with like minded people and would love to chat with everyone and anyone that is willing to give me 5-10 minutes of their time to discuss REI.

I'm looking forward to learning more about real estate from all of you!

@John Jeffrey congrats on your first property!

Bernard Wiczer. The guy is a CPA and vet in real estate law, went to University of Chicago law school. His rates are very reasonable too.

You can DM me for his contact info if interested.

I made an offer on what was advertised as a legal 4 flat. The sellers lawyer provided zoning documents which state that the building is only approved as a 2-unit building. 

To make matters more confusing, my county's assessors office, Cook County, stated that the building was a 4 unit. The seller is offering me a $2,500 credit on the home due to these zoning issues. The language used by the sellers lawyer regarding these zoning issues can be found below. 

Any thoughts on what I should do? The property has great cash flow as a 4 unit but the place wouldn't even breakeven as a 2 unit.

While Cook County Assessors Office website indicated that the Property has 4
Apartments (including Full basement and Attic), when zoning was ordered, zoning
compliance came back as a two (2) Unit. Please see copy of Assessors Website page
relative to the Property (printed on 10.9.2020) and recent zoning certificate. In an
effort of good faith, Sellers are willing to offer a credit of $2500.00 in order to pay
for any corrected zoning, which may or may not include: Architectural
plans/drawings; engineering requirements and any costs for re-zoning.