All Forum Posts by: Mike Russo

Michael, I live outside of Chicago. Before buying, you REALLY need to understand where you are buying. You could end up in a safe neighborhood or a risky neighborhood. I would ask people who invest in Chicago before pulling the trigger. Have you considered a turn-key deal? Brie Schmidt has a good site if you are considering that route.  

 http://turnkey-reviews.com/turnkey-investing-podcast/

I really like the idea of a PPM readout Patrick. Thank you for that info. BTW, I have two detectors in my own home because I have experienced false alarms (one when I had 10 of my kids friends sleeping over). I use two to check each other in case of an event.

Thanks for your comments folks!

Hi all,

I want to share a story about the importance of having working carbon monoxide and smoke/heat detectors in your rentals. A friend of mine has a single family rental occupied by a mother and three children. He received a text from her that the carbon monoxide (co) detector alarm was sounding and that she was calling the fire dept. When the fire dept. arrived, they measured the co levels and found them to be very high. The cause was an older faulty oven. Had it not been for the detector, the results might have been deadly. Co, unlike natural gas is odorless which makes it undetectable by smell. Carbon monoxide detectors are code in many cities. Be sure to protect your renters and yourself.

Mike

Thank you for Jeff and John for your suggestions. I appreciate your quick response. I would like to stay local for face to face interaction.

Much appreciated!

Hi, I'm a Batavia Illinois resident (Western suburbs of Chicago) and real estate investor. Our accountant recently passed away so we are looking for a new accountant with real estate tax experience in our area. Any recommendations would be greatly appreciated!

Mike

I appreciate the feedback folks!

Hi,

I have not read the book. He caught my interest because he reminded me to be careful what we strive to accomplish. We can be a slave to our success in the form of time we have to commit to our real estate properties and projects. I am retired and just picked up another rental property. I like to say I will continue to buy properties until it starts to feel like work. Then I will stop. 

Hi all,

I just heard an interview with the Steve Cook, the author of "Lifeonaire", a very successful real estate investor that realized that we can become a prisoner to our success. He discusses the importance of defining the life we want first and then building our real estate investment business around it. I was impressed by his thoughtfulness and life perspectives.

Mike

Thank you both for your responses. Best of luck to you!

Mike