All Forum Posts by: Eddie Shah

I am new to the suburbs and live in Aurora. Thinking of coming over to this event. How many participant's normally show up.

Thanks 

I just bought the VIP ticket as well. I want TONY to wake me up... Just being lazy ... I know I will enjoy this event.

Thanks for everyone's feedback. I am looking in Class B neighborhoods where properties are relatively easy to manage. Rents can be increased at least 20% within a year or so with some minor improvements. 90% listing on MLS I pass on because the numbers don't work within my price-range. I will hold on to the cash till something really good comes along just don't want to park it if it dose not make sense. Hard to find good deals :(

There are two plays Appreciation or Cash Flow ; its hard to get both in todays market in the same deal at least thats what I am seeing in my surrounding areas. Prices have peaked.

I wont get appreciation unless I hit big and invest in a pocket that will change drastically and people flock to it raising the prices down the line.

So invest in a stable market where property cash flows with a 25% down payment. Meaning I should/hope to get min 15% cash on cash return which in my case would approx. 22k a year with the 150k down payment.

I am on the fence on crossing over to either WI, IN or MI. Proximity might become an issue as I have a full time job.

Also at times rent in those market are low so even if I have 12 unit property paying 500 a unit each , I rather invest in something like a 3 - 4 unit in Chicago where I can pull 1500 a unit .

I live in the local Chicago area and was thinking on investing in a 4 unit property with a 150k cash on hand. The market seems very hot at this point so not sure where the real-estate bubble is in the foresight.

Looking at Bridgeport , Pilsen , Lower west , Maybe some suburbs to invent in.

Its hard to get a double digit cash on cash return at this point.  Prices have sky rocketed already.

Should I wait or pull the trigger ?

I have evicted at least 5 tenants in the past 3 years. Out that I fought 4 of them in court and settled and or won in which case the sheriff kicked them out. 

So what I would say to summaries is go head on head and legally fight till the last hour; Wish you all the luck. Do update when he is kicked out.

Thanks for the detailed explanation on 401k disbursement; i have taken a loan on my 401k also which is invested in a property.

My theory is to have cashflow NOW in my pocket which i can re-invest myself and get 20% avg return yearly, which i have shown for the past 4 years. < Note i got lucky with market>

Every property i buy my deduction goes higher through my LLC when filing taxes and i benefit allot more.

Thanks..

I am paying 10% penalty and deferring taxes till next year which my accountant will handle to the best possible way < approx 15%>. Considering i can get my money back in less than 3 years < with all the added appreciation and reduction of principal> i think my ROI is at par.

This time is too good to pass when you get a property at half the replacement cost..

I am venturing out into buying my 6th rental property and have decided to cash out my 401k < 30k>. I am not sure if other folks here have done it. I will be getting $1000 positive cashflow every all the fixed cost is paid.The property price is 82k. I just did not wanted to pass on this opportunity; its under contract and tenants are already in it :)

Your thoughts will be appreciated.