All Forum Posts by: David C.

Thank you! really good to hear different viewpoints. Apart from a few residential agents and mortgage contacts, I'm no more connected in Chicago than anywhere else, so It's not a base I'm working off. I'm also very time poor - even this initial research and education is tough to fit in with my FT job and familar life. Squeezing it in by getting up earlier / going to bed later - i just don't think I could ever find the time to even build a trusted team and keep on top of them in a renovation. Every day I'm closer to focussing in on turnkeys as first toe in the water - maybe some with simple cosmetic upgrade opportunities in the future, but basically move-in ready. So looking everywhere.

yeh, very hot area with the cool crowd. Expensive. Not sure i can start there. 

@Grant Tallmadge - hope it's going smoothly. Also looking at those areas. Can I ask...what made you focus in on Birmingham over the other well-publicized hot areas like Indy, St Louis, Atlanta. I'm just interested in how people make that last leap to 1 area. Like you, I think i'd like to fly there and take a few days to look around before I commit, but with FT job and family, I can realistically only do 1 trip. From your research, why should I concentrate on Birmingham and book a trip there?

for context - newbie, 42, looking for simple BRRRRs in decent areas, solid tenants with some appreciation potential, but more long term view - not so fussed about cash-flow in short term. quick and simple rehabs for boost in apprisal value desired to dip toe in the BRRRR approach, but nothing major. Will need to deal with contractors i have no experience of remotely. Any advice on areas? looking at <150k properties. thanks

Hey Prashant - how is the rental going? have you been happy with Rfstock? Currently in talks with them. Could I PM you with some quick questions? thkns - hope things worked out well. 

Hi, advice please...I'm looking to cash-out refinance. In Chicago, what elements of a property could help increase value in the appraisal? 

Property built in 2001, things looking bit tired or starting to need repairs. Nothing major though (yet). Thinking if any replacements/upgrades to these will help:

HVAC to replace 18 year system.?
Original ‘builders grade’ bathroom.?
Original ‘builders grade’ kitchen.?
Split block sealant (about 9 years)
Windows and exterior doors (originals)
Roof (original)
No backsplash in kitchen
Over garage deck.

Can any of these affect appraisal significantly or do appraisers just stick to basics and essential components that make up the house?

Any other simple hacks to nudge an appraisal up for refinancing?

Thanks!!

@Lucas Hammer no to house hacking. Moved into a house last year, big mortgage, wife won't downsize now (11 month kid with another in future perhaps. Playing with the cash and assets i have outside my regular home. If i was single then definitely would. Not started looking at any particular neighborhoods anywhere until i know that i see the benefits of focusing locally over other parts of country. I'm not much more connected and knowledgeable about Chicago as I am elsewhere, alart from knowing that taxes are high, winters are brutal and population is decling every year. And suitable BRRRR bargains outside of war zones might be rare. Open to anything at this point. Multi-family definitely appeals, just not for house hacking. Tnx

Hi, my education is picking up momentum. I want to start looking at potential deals and practicing analysis. I want to test my abilities to seek out my rockstar team and get some leads. BUT what areas should I start in? 

I'm living in Chicago but realize there are cities/ counties / states that might set me up better for cashflow and ROI. Part of me likes the thought of needing to visit warmer parts in the future, but torn with being close to meet people in person, observe, check in. Thoughts? Advice?

If being within driving distance isn't worth sacrificing the better returns, then where would you be looking now for first investment with 100-150k cash seed money? I hear FL, IN, AZ, TX, OH, MO...as hot areas but need to focus even tighter i think, esp. when it comes to seeking out my potential support team.

@DMikal Mitchell im in the same position. Maybe a week behind on the education. Please post about your experience. Good luck!

@Lewis Yuan - hi lewis, im in same position as you last year. Looking to get my first deal - brrrr / buy and hold. Newbie, seeking training wheels purchase. Live in chicago (Bucktown) for 7 year, from Uk originally. Did you find any good meetup groups you’d recommend to me? Hope things going well.