All Forum Posts by: David Levin

Hey all! I am looking to take down two buildings totaling 18 units. Buildings are in Chicago. My concern is the unit mix. They are as follows:

Two 3/1

One 2/1

Nine 1/1

Six 0/1 

The studios are what I am most concerned with. I understand there won't be much room for increases. Right now there is room for a $25 increase on each studio. Anyone have experience with studios? Any insight would be greatly appreciated. Thanks!

I appreciate all the feedback. I held back some info and apologize for doing so. I do have a wife and two young children. We moved out of state due to the covid numbers being very low in the state we relocated. We love it in our new (rental) home and want to stay but my W-2 would bring us back to our primary next year. Our primary is in the best school district in east Boca Raton Fl. We only recently purchased the house in '19 and quite honestly overpaid. So, no cash out refi since we only laid out 15%. Now the markets (Covid effect) are crazy and the offer would net us a couple of hundred K. Not chump change but not a life changer (unless it is invested well;)) either. The issue? Finding a rental or even another primary in the area to live that is in the price range that makes more sense. I, like many others, have a goal to gain financial freedom through real estate. Right now that space is MF. I currently have one 12 unit building and have commitments from a couple of investors to take another one down when that time comes. I am just looking for feedback to gain a different perspective so I can weigh options. If a HELOC were possible I think that may be the best route.

Again, I appreciate and thank you all for taking the time to leave a comment. 

Hi All. Current situation. Renting out what was primary home with net returns of $793/mo. If refinanced, those net returns will become $1122/mo. Currently living in rental which is over 1.9K less than mortgage, including taxes and insurance. Primary is not for sale but recently have had a few offers to sell and would net roughly $220K on the sale after closing costs and commission. The question is... Sell, continue to rent and invest in MF (already have MF property) or stay put? Decisions....Just looking for a little feedback...Thanks!

Hi All. Current situation. Renting out what was primary home with net returns of $793/mo. If refinanced, those net returns will become $1122/mo. Currently living in rental which is over 1.9K less than mortgage, including taxes and insurance. Primary is not for sale but recently have had a few offers to sell and would net roughly $220K on the sale after closing costs and commission. The question is... Sell, continue to rent and invest in MF (already have MF property) or stay put? Decisions....Just looking for a little feedback...Thanks!

@Steve Morris Thanks Steve. Read the thread. I didn't cheap out. Lol. 

@Basit Siddiqi Thanks for the advice. I appreciate it!

@John Warren Great advice and taken. Thanks for taking the time, I appreciate it. 

@Jonathan Klemm @Tony Angelos  I appreciate the feedback. Cost to me is $750 for Attorney to do it. I have decided it's money well spent. Thank you!

@Christopher Smith   @Greg O'Brien I appreciate the feedback. Cost to me is $750 for Attorney to do it. I have decided it's money well spent. Thank you!

Hi all! Does anyone have a JV agreement used in IL they can share? Or a standard OA for a JV? I am looking at options and also trying to create my own but would like a comparison and/or use a better option. I do have a RE attorney but he would rather I present the agreement on my own.

I appreciate your help!!