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All Forum Posts by: David Worker

David Worker has started 9 posts and replied 78 times.

Post: Springfield, IL investing

David Worker
Posted
  • Springfield, IL
  • Posts 79
  • Votes 23

@Rufino Mendiola how's your real estate journey coming along? To get into this field you could join First Deal by Brandon Turner. That group is made to help first time investors build systems to get off the ground.

Post: Masterminds - Scale Up!

David Worker
Posted
  • Springfield, IL
  • Posts 79
  • Votes 23


@TJ Woolum did you end up joining mastermind or accountability group? If so how's it going?

Post: Seeking guidance as a rookie.

David Worker
Posted
  • Springfield, IL
  • Posts 79
  • Votes 23

Hi Kam 👋 There’s so many ways to make money in real estate and they all have their pros and cons. Brandon Turner often says it’s more important that you decide than what you decide. STRs and MTRs have higher cash flow than LTRs but they require more work. I would choose the strategy that best fits your strengths (unfair advantages) and what the market in your area demands. If I were in your position, I would buy a duplex that has potential for value add, fix it up, live in one unit and rent out the other unit as a medium term rental or long term rental.

Post: Looking for a Realtor in Springfield, IL

David Worker
Posted
  • Springfield, IL
  • Posts 79
  • Votes 23

Greg Zessin is a realtor and property manager in town I would recommend. His company is Springfield Real Estate.

Post: Property Management Software

David Worker
Posted
  • Springfield, IL
  • Posts 79
  • Votes 23

@Nathan Gesner great answer!

Post: Is Rent Redi too good to be true?

David Worker
Posted
  • Springfield, IL
  • Posts 79
  • Votes 23
Quote from @Amanda Lindsay:
Quote from @Drew Sygit:

@Amanda Lindsay curious about which softwares you evaluated to select Rent Redi?

@Patrick Drury what did you think of Propertyware and Rent Manager?


 I reviewed Rent Redi, Appfolio, Buildium, TurboTenant, and Yardibreeze. Obviously price wise, Rent Redi was the lowest. We have a solid system in Quickbooks and want to stay with that for financials. We are hoping to streamline tenant communications, maintenance requests, and payment records.

 @Amanda Lindsay Which property management software did you end up going with and how is your experience? I’m currently managing 45 doors and looking to add a property management software, thanks!

Post: First Investment - MTR in Springfield, Illinois?

David Worker
Posted
  • Springfield, IL
  • Posts 79
  • Votes 23

@Brian Lloyd Trieu-Mallari it's Worker Construction LLC. Yes we're based in Springfield.

Post: First Investment - MTR in Springfield, Illinois?

David Worker
Posted
  • Springfield, IL
  • Posts 79
  • Votes 23

Hi Brian yes Springfield is a good market for MTR with a growing healthcare industry. I have one MTR now in Springfield. I just finished the project in October and have someone living there now on a 3 month contract. I found the tenant through Furnished Finder. I have a carpentry/handyman company and we did most of the work ourselves. You can reach out to Greg at Springfield Real Estate for property management help.

Post: Springfield, IL investing

David Worker
Posted
  • Springfield, IL
  • Posts 79
  • Votes 23
Quote from @Rashidat Oye:
Quote from @ThomasRoy Penland:

I have ventured in to this market as of April this year (2022).  I bought 2 homes and am using a property management company. I have never seen the homes in person, but got a good walk through from my realtor. It is still early, but if you are still looking at starting up in Springfield, hit me up. It would be great to compare notes and work together.  

Hi Thomas,

I am looking for a realtor in Springfield, IL. Please can you share your realtors info via DM? 
Call Greg Zessin!

Post: Medium Term Rental Questions for Springfield, IL

David Worker
Posted
  • Springfield, IL
  • Posts 79
  • Votes 23
Quote from @Jamie Banks:
Quote from @David Worker:
Quote from @Jamie Banks:

1. What kind of vacancy rates do you typically have?

I'm seeing ~5% vacancy across my portfolio but I have properties as low as 0% and as high as 10%. I usually use 10% when running my numbers to estimate the viability of a MTR investment

2. How do you like to find your tenants? (Furnished Finder, Direct relationship with the hospital, ect.)

A mixture of all of the above. Most of my tenants are from Furnished Finder and other OTAs such as Zillow and being a preferred housing provider for different agencies. I've also gotten a good amount of requests from listing on Facebook Marketplace. 

3. What is your minimum staying requirement?

My minimum stay requirement is 30 - 31 days (depending on the city's requirement)

Thank you that was very helpful! With the minimum stay being 30-31 days, do you just have them sign a month to month lease? How much notice do you require them to give you before they move? 


 I typically sign draft the lease to be for the exact length of time that the guest needs the property, on average 3 months and I require a 30 day notice to vacate. If no notice to vacate is given then the lease will continue month to month. 

Thank you!