All Forum Posts by: Christopher Leon

 like you said, insurance is just another financial product. For those of us that do not have a strong reserve like you, we should have it. Otherwise, self-insuring is the way to go! How often do catastrophes happen? Even if it did happen, the amount of years you have/will saved from being self-insured, I think you'll net ahead without it.

@JR T.

@Wesley W. great point. Personally, we use a Schlage lock set. I feel the quality of lock is much better than kwikset. Just had a client purchase a set, changed the keys real quickly, but when installed, the lock would get stuck and not release itself. He went and bought a Schlage set, worked like a charm. Schlages are much more expensive, but I prefer them. 

@Arianne L. although the your agent is unethical for having changed your offer, if you really wanted the asset, why didn't you take the hint when the seller countered from $137k to $136k and just take the deal? It's almost a 10% discount off the original ask. Your agent made a bad call on making your net offer less than the previous offer - hope you can still snag the unit. Good luck

@Kyle Evans I'd say wherever you know the area the best; and, whom, as tenants, you feel most comfortable managing. Not the exact answer your looking for, but if you can answer those questions, you should be able to pick the towns that best fit your tolerance level/skill set. For example, if your looking to manage young professionals with upper 600 credit scores +, don't buy in Joliet.

@Dinesh T. I would recommend you read the rules and regs about noise. If your tenant is clicking their heels around and bother the owners/tenants underneath, you'll have a headache to deal with. As far as changing the floor while they're living there, that's not cool. Perhaps do it when they're going out of town. 

@Joshua Greenwald heed @Ben Leybovich insights. On a personal note, this is way too complicated of a deal for a first deal for anyone, in my opinion. Your crossing into unchartered waters in many a facet, and, although I follow the method to your madness, the deal sounds like a dog with fleas. I'd prefer to see you pay retail (as long as it cash flows), get the unit rent ready and use your brokers license to find your own tenants so, at least that way, you have more control over the investment. Good luck

@David White first off, sounds like you might not have experience related to the RE industry - that's OK. I'm sure you have some other skills that can be used for what they need. Write a letter explaining your past successes, explain HOW you can be an asset to their organization and prove it by examples with references. More so than anything, follow up within 48 hours of submitting the packaged info and highlight your sales skills through action - oh, and don't forget to close by asking them for the job.be confidant, bold, honest, and respectful. Good luck 

I meant bit off more than he could chew. And, the 2 month sec dept would not cover your turnover costs . My bad on the typos 

@Siraj Ahmed everybody has a story and your sounding desperate. This guy but off more than he could chew, stopped paying credit cards, and you think he is going to pay you on time all the time? Even if you did get 2 month sec dep - which I like by the way, that probably would be enough to cover you turnover when/If he defaults. Probably best to wait for a more qualified applicant. 

Lastly, I'm from Roselle and an agent and if your saying other people are renting other places and not yours, you should be looking at the quality and condition of your unit, and, most of all, price.

Good luck