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All Forum Posts by: Brian Karlow

Brian Karlow has started 7 posts and replied 147 times.

Post: Should I keep or sell my rental?

Brian KarlowPosted
  • Rental Property Investor
  • Algonquin, IL (Chicago suburbs)
  • Posts 155
  • Votes 76

If I was able to capture 8K...I'd grab this and run....However...run your numbers and be sure to include all fees and costs associated with the transaction.

BK

Post: Best new flooring for this rental - Chicago area

Brian KarlowPosted
  • Rental Property Investor
  • Algonquin, IL (Chicago suburbs)
  • Posts 155
  • Votes 76

Ryan

Great question.... Home Depot offers a really good quality carpet/option for approx. $1.85/sq ft which I go with for my properties containing a second level....however: A first floor/main floor application I always try and install an in stock laminate...lately I have been having my contractor install the 12mil Colfax Hickory floor....feed back is off the charts!

Hope this helps!

Post: "Dress it up" or keep it "good enough" - How do you decide?

Brian KarlowPosted
  • Rental Property Investor
  • Algonquin, IL (Chicago suburbs)
  • Posts 155
  • Votes 76

Consider tenant quality and market time...will you be more desirable and therefore have a more selective approach to tenant determination??? Just my 2c.

BK

Post: Should I keep or sell my rental?

Brian KarlowPosted
  • Rental Property Investor
  • Algonquin, IL (Chicago suburbs)
  • Posts 155
  • Votes 76

Depending on your market on the appreciation level and future rent level.....I would suggest you review the total financial picture which should include: 1) principal pay down annualized 2) depreciation 3) overall tax position with regards to W2 ( if applicable)

Hope this helps!

BK

Post: is this a good duplex deal?

Brian KarlowPosted
  • Rental Property Investor
  • Algonquin, IL (Chicago suburbs)
  • Posts 155
  • Votes 76

Devin

Below are few further details that would help us have a better understanding about the deal:

Age of the property?

Current condition - any required repairs?

Are these rents at current market rate?

What asset class is this area - A/B/C

Current job market trend- stable/growing/shrinking?

Population trend?

Desirability - school quality/proximity to expressways or commuter train

And finally....what has your market supported in recent comparable sale prices within the past 6 months.  Is there high or low inventory available for sale in this asset class in your area?

Brian

Post: New Member In Chicago!

Brian KarlowPosted
  • Rental Property Investor
  • Algonquin, IL (Chicago suburbs)
  • Posts 155
  • Votes 76

Welcome Nicholas!  Be sure to check out all of the resources available within the site...this place has everything you need and MORE!! Good luck and let know if you need any help.

Brian

Post: Rent Collection Question

Brian KarlowPosted
  • Rental Property Investor
  • Algonquin, IL (Chicago suburbs)
  • Posts 155
  • Votes 76

Hey Shelley

Check out Cozy.com  Free to Landlords and offers quite a few very nice features!

Best of luck!

Post: WIN January Meetup - Rockford, IL area

Brian KarlowPosted
  • Rental Property Investor
  • Algonquin, IL (Chicago suburbs)
  • Posts 155
  • Votes 76

Craig 

That's for extending the invitation my way but unfortunately I will not be able to make it this time. Keep me posted on future upcoming events. 

Happy new year! 

Post: New Member - Illinois

Brian KarlowPosted
  • Rental Property Investor
  • Algonquin, IL (Chicago suburbs)
  • Posts 155
  • Votes 76

Welcome! You've found you're way to an incredible community....be sure to check out the all the tools available and best of luck !

Post: ???When do you cap your reserves????

Brian KarlowPosted
  • Rental Property Investor
  • Algonquin, IL (Chicago suburbs)
  • Posts 155
  • Votes 76

Patrick 

Great question! I believe this is a personal comfort level.  For me, it was looking at each property as a stand alone business and funding it with 6 month's reserves. Of course this can be reduced as your portfolio grows..... just my two cents 

Brian