All Forum Posts by: Dustin Avadar

Haven't attended the rich dad poor dad, but I did take another one through Steve Martel.  Paid $15000.   Honestly man most of those companies, they make more money then they do on there real estate portfolios, and they use on online platform and you have a "coach" who has very basic knowledge.  End of the day the programs are all the same, hit you with a ton of information on the "free" 3 day seminar.   Then hook you in with there programs, because there is "SOOO" much more information out there.   I would save your money man.   My best advice is if you don't have $100,000 in the bank, you have no business investing, because you A) Don't know how to save money and B) Don't know how to make money.   I know its a little harsh but its the truth.   If you do have 100k, good for you.  Then I would be looking into the Kelowna market, I would stay out of AB for the next couple years.  and if you don't have 100k, start budgeting, paying cash, control your income/debt.  Get your CC paid off, and start stacking that cash!  

Best of luck

Dustin

found a 4 flat in East Garfield Park section 8.  Property has been completely rehabbed 2 units currently rented out out of the 4.   2 just had section 8 inspections question is did anyone have property out in this area what had been you're experience.   Zip code is 60624

Currently looking for a broker in Chicago, or specifically one bank, to work with, looking to refinance some properties, I do live in canada, and have been shopping around and have been getting alot of 60% of Arv.  If anyone has some contacts, or anyone on the forums that would be willing to look at the portfolio and bring that number closer to 70%, I would be most grateful

ty

If your from chicago there is a lot better opportunities out there, then the current one your looking at.   Personally I never like to get into a building under 1000sq ft, some ppl do and like to take that risk, I personally love to be liquid and being under 1000 sq ft will have a very small demographic of people that will buy that property.  Were abouts in chicago are you?   If your interested in flipping houses, around that purchase price I would get ahold of frank montro, he's the only guy that I would trust right now in the south and is bringing over 35 years experience to the table.  

Also you said total rehab so complete guy, I mean if you could keep the rehab under 20k, then your look at some sweet margins, but once again I just feel there's better deals out there, best of luck

Dustin

Ill do my best to make it out, been a busy week for me! 

working on getting my visa then license john

@Brie Schmidt

Hey brie, when I'm in chicago, I'd love to meet up with you for a coffee or something, I know your super busy, so Id appreciate the time!  I wanna get a couple flips under my belt, and then I'm looking to the north, I know you've got a ton of connections and I've heard nothing but good things about you!

ty

dustin

Todd what are your margins like about 20-30%?

What's yours cost to cure, what's purchase price, and what are you selling them for?

ty

dustin

Basically what title says, I've looked over craigslist but some shady deals/areas, 600/month cash, would like just a bedroom and a bathroom and a kitchen to cook food.

doesn't matter if its a shared bathroom, I don't drink, strictly on buisness, would be month to month, I can put down a deposit, and would do a lease if it made you more comfortable.  From calgary canada, coming down to chicago, for first project roughly 1st November 2015

And obviously a safe area, I don't want to get robbed while I'm down visiting! LOL 

ty

@Brie Schmidt

60k is actually kinda high, its only a 1400 sqft 4b 2bath, I always plan for a 20% what I call "whoops".  I will be doing a lot of the work myself, besides the permit, but I will be there for the framing, electrical, plumbing.  This first project I'm just really going to try and vet some good guys, I don't need a GC I have the luxury that I can afford to be in Chicago for a month or two, while my buisness is still running in Canada, so I'm going to make sure I use that time usefully.  Ill be doing all the tiling, and finishing carpentry myself.  My goal is just to vet some solid carpenters, drywallers, electricians and plumbers, and then go from there.  Were I might be a complete newbie on the investment side, I'm a vet on construction, so Ill be able to really watch my guys and hopefully build a strong squad from there!