All Forum Posts by: Mike Russo

Hi all,

Are you finding limited inventory of properties to purchase in your area or the country? I'm in the Chicagoland area and the available inventory is very low.

Thanks,

Mike

Brie, I am connected and familiar with Mark but I was not aware that he was an agent too. Thank you for the recommendation.

Jeff, I'd love to have the agent's name. If they know Batavia, they may also know the surrounding area. Thanks much!

Mike

Hi Brie and Jeff,

I have been searching the Chicagoland western suburbs specifically. If I had to pick a location, it would be in DuPage/Kane counties. I'm trying to narrow my search based on job growth, quality of schools, public transportation and real estate taxes (as you know, the taxes here are brutal). I've been searching Lisle, Downers Grove, Batavia, Geneva, St. Charles, Lombard, Warrenville, etc.

Thank you both for your quick responses!

Mike

Hi all,

Does anyone know a real estate agent in the western suburbs of Chicago who are experienced in real estate investing? Preferably someone who has invested in real estate themselves. I'm looking for more SFH rentals and would like to discuss locations, rental trends, etc.

Thanks in advance,

Mike

One more thing. Beside contacting their current landlord, contract the landlord before that. The current landlord may want to be rid of them and may not give you the complete truth.

Mike

Perhaps enhance your application with questions that will discourage questionable renters. Questions like:

- What is your attorney's name?

- Have you ever broken a lease?

- How many evictions have been filed on you?

- What might interrupt your income or ability to pay rent?

When questionable renters see difficult to answer (for them) questions, they may just move on, saving you future headaches.

Mike

Thanks Jeff! I figured there would probably be a cost savings over MLS. I thought there might be other benefits too.

Mike

Hi Mark,

I'm curious. What are the advantages of purchasing from a wholesalers or other means beside the MLS?

Thanks,

 mike

Hi Chance. I just posted this tip today.

Hi all,

I wanted to share a process that I just started using to automate my rent receivables. Chase bank offers a service called QuickPay, free to its customers. QuickPay is a process that you and your tenant can use to send and receive rent (as well as other) payments. It's easy to set up as long as you both have a checking account. A complete explanation of the service is described here:

https://www.chase.com/online-banking/quickpay

In a nutshell, both the tenant and property owner set up a Quickpay account. When the rent is due, the tenant requests payment to be sent to the property owner. The property owner receives an email or text notifying that payment was sent. Then they simply accept payment into their account. If both sender and receiver have Chase checking accounts, funds are available to the receiver that day.

Happy investing!

Mike

You are welcome Matthew.

Mike