All Forum Posts by: Chris Youssi

Great question and as usual fear mongers prove to be false. We have 58 units and have collected 96% of our revenue with the remaining waiting on unemployment . An earlier post was accurate hoping landlords learn we all must save for a rainy day as clearly this is a tsunami of epic proportions! 

Welcome to Crazytown,USA pick a city or State. All new territory. TBH not sure what the right answer is but know one thing for sure. Whatever feels right for you do it and stop complaining because others disagree with your position. We have a mostly A/B tenant base and have not heard from 95% of our tenants. the 4/5 we have heard from our respectful and likewise we will treat them and all others with dignity.No one asked for this mess no one but here it is and we must deal with the cards in hand. Not suppose to be religious on here but someone much wiser than myself said "Love God love people" . Not sure how any of can do better than try to abide by these words by being a better human. Countdown 4 days  . . . Happy investing and I for one am very very thankful for ALL of my tenants as they have helped build our net worth.

I own props in both Rockvegas and QC - both cash flow strong. Rents are higher in QC - matched with pricing of units. Building new in both communities both have amazing cash flows. $ 4 $ Rockvegas is a higher return / QC  )(Bettendorf) - just rented a unit for $1895  + flow $500 / M tenant makes $140 / year spouse $75 its unreal )  better appreciation. Happy hunting!

Well done Bryan - especially being patient and studying methodologies. Congrats!

Rockford meeting is the first Monday of every month at 6 pm over at Sams on Riverside . We are in the back. Welcome to the jungle!

CY

I disagree that Multi is the way to go for several reasons and I speak as someone who has owned both - now close to 65 units.

1.) Multi do not appreciate faster than SFH - multi appreciation is strictly off cash flow

2.) Tenants are more stable - more responsible and are built in buyers

3.) Maintenance is much much easier - 2017 spent $46/ month / unit - 2018 spent 54/month / unit . When we purchase SFH we rehab to the 9's new everything so there is minimal at worse large capital expenses.

4.) All our SFH's are in Winnebago County - Rockford and surrounding and all are B/C props

5.) Easier to liquidate with much much higher appreciation. Our average values around $110 avg rent is $1200 - avg  net cash flow $250 all on 7 or 15 year amortization schedules our avg price point around $140.

We buy / rehab / build new ( multi never larger than 4 families ) and by far I prefer single family vs multi for a variety of reasons: easier to rent / higher appreciation / much easier to liquidate / longer stable tenants. I only speak of our market and of course all markets are local but Rockvegas has ample opportunities for SFH IMHO.

Best wishes to a Happy Healthy and prosperous 2020!

Curious why do you need investors? Sounds like your already on a solid path to your objectives. Why overpay for hard money? There are at least 2 local lenders that finance projects like your buying. I have bought sold rented about 45 SFR within the last few years - currently down to 30 using your same process in our market all with about 65k of my own funds. The rest was pay cash with LOC put my own funds in to rehab then refi out get my cash and repeat. A no brainer especially someone with your skillset. We have several companies - far and away I prefer the rental game. PM me for . more details or if you want further info. Best wishes moving forward.

EZ answer God / Family /Great health / Freedom we have in this great country we call America and  of course the BIZ! My oh my that truck is U G L Y! IMHO (: