All Forum Posts by: Dale E.

@Peter Tomeczko

Happy to see this thread getting revitalized. Starting a meet up has been on my mind for some time as well as I found it hard to make real estate connections in the Ottawa market. I would certainly be interested in supporting something like this even if it just meant meeting up at a local bar sometime in the future to exchange contractor recommendations and other market tips. @Melissa Kirchhoff has been a huge help to me and is a real estate professional in the area. Perhaps she may be interested in joining us as well.

Thanks!

Hello,

I am in the Chicagoland area and looking for a relatable RE attorney to work with over the long term in support of my buy and hold portfolio. I am looking for someone who can be responsive and work with me to review forms, contracts, and offer guidance. Preferably someone who is also a RE investor themselves and is familiar with the Lasalle and Will county, IL markets.

Thanks,

Quick basic few questions on an llc:

- I am getting a loan under my personal name and plan to then transfer it to the LLC. I am aware of the Due on Sale clause risks. I am wondering how it actually gets placed under the LLC after closing. Is this something any good lawyer can do for me? Is there a "seasoning" time period where I need to wait a certain amount of time?

- for book keeping, I assume most landlords then set up checking and savings accounts under that applicable LLC for that property?

Thanks!

Hello BP Members,

I'm fairly up to speed on general benefits of an LLC. In this post, I'm trying to learn more about a Series LLC.

- general understanding

- how they work

- advantages (if any) they may have if buying multiple properties as part of a long term buy and hold strategy

- any disadvantages

- does anyone have experience setting one up on the state website vs going through an attorney? Would you recommend not setting it up yourself?

I am an investor in the Chicagoland area doing business in Lasalle and Dupage counties.

Thanks!

Hello BP Members,

I am a new investor looking to get started in SFH and / or a Duplex investment in the LaSalle County region (specific focus in the town of Ottawa). In my research so far, I have had a hard time identifying people to connect with on this topic as most members seem to be focused on markets closer to Chicago.

This is sort of a broad post but I would love to hear from anyone on the following:

- general connection - share learnings, establish local relationship with similar investors, etc.

- share market data - rental market income, vacancies, comps, etc.

- share leads / contacts - suggestions on agents, wholesalers, trusted contractors, etc.

I have done a fair amount of research on my own but really just looking to connect with others and grow my network. As always, I would be happy to share / contribute my knowledge if anyone is willing to chat with me.

Thanks!

@Marco Anemone thanks for the input to you and everyone on the thread.

As I continue my search, its becoming more apparent that I may need to enlarge my funnel by looking to additional areas. My core criteria seems to keep coming back to areas with solid school systems which expands to several other suburban areas close by (wheaton, bolingbrook, etc).

While I'm on the topic, does anyone have suggestions on local agents?

Thanks,

Hi BP members,

I'm looking to get started in the RE investment game as a way to generate some passive income outside of my W-2 job. I currently live in the Naperville, IL area (western chicago suburbs) and think I want to target a single family live-in flip that I would buy and hold. I'm ideally looking to find an investment property where I can leverage my own sweat equity and get my feet wet to eventually list the property as a rental. While doing this, I want to list my current town home as a rental.

Questions that I would appreciate support / advice with:

- naperville generally looks to be very difficult to find a cash flowing property. Are most people investing in this area for loan pay down and appreciation?

- are there other areas that you would recommend where equity deals may be more available - lisle, downers grove, etc

- any advice on wholesalers for the area or investor friendly agents?

- any advice on local laws / regulations to be aware of

Thanks!