All Forum Posts by: Mark Hutchins

I have been through the eviction process several times and it's not fun, once it starts you have to let the courts handle things and many times it just adds insult to injury as it progresses.  At least where I live (IL) the sheriff is present during the final stage (bringing stuff to the curb).  I found its helpful to get ahead of the situation and offer to pay (tenant) some cash to have them move out (within 24 hrs).  Most of the time it work and save $$ and aggravation.  It is easier said than done but you develop "processes" to avoid hostile situations once you been through the process a few times.

Andrew,

I represent buyers that purchase real estate notes.  If interested let me know.

Thanks

Wow what a small world :).  I was not aware that there was a group, I will try to make it in September.

Thanks for the invite.

Study this website inside and out and get your education first before you start to look for tenants.  Here is my one tip, start with month to month contracts so if you have to terminate the agreement you can do so with having to wait 6 or 12 months.

Good Luck

Steve

Glad to know there are others in our area that share similar interest.  If you ever want to talk just give me a call at 309-253-8011.

If you looking to go full-time what is your gameplan to accomplish that, 6, 18, 24 months?.  Make a plan and work the plan and if you follow it, you will become what you think :)

It could be for a number of reason, you could always check with the agent that listed the property and ask them.  Keep in mind when your looking at photos it maybe just showing the best parts of the house, etc.  When it comes to real estate take everything with a grain of salt.

For starters look for real estate clubs in the area to get plugged in.  Just pull up a browser and do a search.  Many of them meet on a weekly or monthly basis and the advice and input they give is free.  At this point everything new and can become overwhelming, just take your time.  Create a 3, 6 , 12 month goal for yourself, create a plan and work the plan.  At this point you are on a fact finding mission.

Good Luck

If its normal wear and tear than it does not go against the renter, however if they purposely damage an item,  such as putting things down a toilet which was never intended for, they would be responsible.  When we rent these days we take a video of the place before the renter moves in (time stamp) to ensure the place was in working order along with a agreement that states what the renter and landlord are responsible for. 

Just a couple of general suggestions: 

1. Areas with a lot of "for rent signs" clustered together, tends to be an area with higher turnover rate.

2. Look for schools nearby and how the state has ranked them, meaning the higher the ranking, the more attractive your place becomes.

Overall I think you need to decide what kind of investing appeals to you. Do you want to offer low income (Section 8), buy and hold, invest in SFH, Muti-family, fix and flip, etc. It is easy to pick something in general however it can get overwhelming with so many areas of real estate. The more focused you can become, the greater chance of success. When I first started, I focused on 2 bedroom houses (they are cheap 25K and easy to maintain) and section 8 (paid $600 a month) to help ensure I was making money.

Good Luck