All Forum Posts by: Chris Jerome

Thanks all

How much without financing Aaron ?

Good link thanks

Hi Guys & Gals

I'm wondering if there is a rule of thumb guide maybe a percentage to closing costs.

I'm thinking about Illinois and a SFH of around $200k in case this is relevant, it probably is :-) No mortgage either.

Thanks in advance

Chris

Thanks both :-)

I am trying to familiarize myself with all the terms used in real estate, I'm finding it difficult to keep up as so many of the phrases seem to mean almost the same thing.

Is there not a standard to these things ?

Anything posted on here maybe ?

@Account Closed

Actually I think you are correct about the codes.

I am finding out that some areas are stricter than others about using licenced contractor and that seems to be reflected in the amount of sales that have some kind of work orders attached to them. I guess that the sales might be being forced on them in some way.

@Wendell De Guzman

I used to live in the city before moving out to Oak Pk so I would probably look to relocate back around there.

I can see what you are saying about the hands off passive nature of being an investor. I am wondering if 12% is enough of a return without the benefit of an uplift in property value. Are you not slipping back when you factor in inflation ?

Maybe I'm expecting too much or misunderstanding the fine details

Thanks Joel

I'll try and give you answers

Cash in the bank.

I'm guessing I would like a 10% return after tax.

I'm 58 and retired, I would be prepared to be a little involved.

Thanks for the warning.

I'm wondering what direction I should take when I get started after re-locating to Chicago.

I will have something in the region of $750k to play with, and I am looking to use it to provide me with an income. I'm far to old to be looking to build a portfolio up.

I've been trolling around this site for a couple of weeks and have read a fair amount of info, maybe too much :-)

So in what direction would you point me to ?

Thanks

Thomas

Good reply, thanks.

I won't quote your reply, bandwidth and all that :-)

If you are saying that this incident hasn't cost you any money (I hope it hasn't) I can see why you are not too bothered if the tenant covers themselves or not.

I guess one thing is highlighted, is to have anything electrical you supply for the tenant to use, regularly tested, and that test documented. This is likely covered by local ordinances I'd guess.

Best Chris