All Forum Posts by: David Green

I purchased a condo several years ago and pumped quite a bit of money into it to improve the property.  I later moved out and rented the place out.  It has been rented now for more than 3 years. So I can't qualify for the 250K/500K exclusion.  

I was wondering if sell, do I have to pay capital gains on the difference between my original purchase price and the selling price?  Am I able to deduct any of the improvements I made from that gain?

Thanks

Check out @Sharad M. for NWI.  He has some nice turnkey properties.

Can't make it this week.  Please keep me in the loop for the next one. 

@Crystal SmithThanks for much for your reply.  This is the kind of info I was hoping to get.  Are there better places that are not on my list?  All things being close to equal I prefer a place closer to me in the western burbs (I live in La Grange).

Thanks

@Leon D.Thanks for your reply.  I realize my post was pretty vague and open ended.  I was hoping to gain some insight into some of the neighborhoods I listed and perhaps learn about a place that I have not yet considered.  

1. SFR

2. 50K (purchase + rebab)

3. Cash

Good advice on a PM and an agent.  I am trying to track down both right now. 

I am interested in using the Brrrr strategy to grow my buy and hold portfolio and need help.

I have spent quite a bit of time reading the forums (and many other sites/tools) to gain insight into southside suburbs and neighborhoods, but the process is just too slow. I need someone with experience to help me identify which areas to target and to help me screen the properties.

Could you guys please share your thoughts on the below areas?  

Dolton, Country club hills, Calumet Park, Calumet City, Lansing, Country Club hills, Glenwood, Hazel Crest, Floosmoor, Sauk Village, Chicago Heights, Maywood, Bellwood , Harvey

I would like to find properties that beat the 2% rule that only require a minor to moderate rehab.  I realize this will most likely be Section 8 which I am okay with.  I plan to find a "good" PM to manage the properties.

Things that I am paying attention to are:

• Investor friendly
• Taxes
• Crime and safety
• Rents are at least $1000

After I narrow down to a specific area I plan to find an investor friendly agent to help me find my properties.  

Any help or guidance would be greatly appreciated.

@Mark Ainley I don't think I tagged you correctly above. 

@Mark AinleyI know this is an older thread, but I was wondering if you had any recommendations for agents who specialize in buy and hold?  Is Frank Montro still the guy to go with? 

I love how you are walking the new guys though the processing of analyzing a deal and creating an SOW.  I hope to join you guys out next weekend.

Congrats on hitting your goal.