All Forum Posts by: Edwin Williams

Since we are in an inflationary environment  real estate purchased prior to this cycle and during this cycle will go up in value. These properties you purchase will without any doubt increase in value. Printing money  has that effect on real estate. Spend whatever you can and ride the wave with the rest of us. You just need to pay attention to your cash flow so you can operate the property without it relying on you to personally keep the property operating. 

Hello,

I'm in need of an Exterminator for a few buildings in the South Shore area of Chicago. Anyone with any suggestions/recommendations.

The buildings are all multi units.

Thanks in advance.

Hello, congrats and good luck. If you get a condo in that area you are going to have a great chance of going Airb&b when you decide to move out in few years. Welcome to the neighborhood!!

Hello,

I'm looking for a contractor to do some work on a 4 unit. Currently need to close out some windows (cover the windows with either brick or wood) also install block windows where the basement windows are. Replace some doors, install screen doors and general maintenance improvements. Build a small closet in a bedroom.

If they can do some electrical items that would be an option.

Please send your recommendations. I need these items done in the next two weeks. Looking for reliable and sensible.

Cash that check fast!!!   I’m guessing go back and reminding her of the rules and find of why she went with a check?  Based on her response the ball’s going to be in your court. If she’s not going to corporate then you have a decision to make.  Compromise as best you can. The basic contract is to pay rent for the accommodation.  If she is not following your rental agreement you have decisions to make. 

D class always has something, it a matter of picking your poison.  If you are getting rent and she is not destroying the property that would be considered a plus.  

Without the numbers on the building how could you value the property? Can't see a lender working with you without information. If you're buying cash  you can't go blindly unless you are a pro and know your numbers you can hit. 

You could get the rents verified from the tenants during your due diligence period. 

Since they have little or no savings your rent is tied to any issue that comes up. Major car repairs, cut in work hours, medical bills, day care, injuries all expected events will have a huge effect on them paying the rent on time. The fact is people with lower incomes are at the mercy to life's cost events. When all is rolling all is good but once something comes up it puts them back and you have to have patience to work with them. 

Everything will be running smooth like clockwork then the boy friend with work allergies shows up and moves in..... Always ends ugly. Made me an eviction expert!!

Who cares what the seller's reason is. If you can close earlier go for it. It's going to be the sooner you get going with this property and the sooner you can move on to the next one. 

Real Estate is a people business. Helping this person out now may bring some good karma when you want to sell.  

With the unemployment projections and the current numbers it's going to be a long time before we get back to normal. Investors are going to be falling out all over the country at different stages of the recovery because we all have different pain thresholds. It makes no sense waiting as @Stone Saathoff said because we are in new territory and no one can predict anything when it comes to timing. Maybe new hiring numbers could be an overall indicator but it's such a large country, what happens in Austin Texas has nothing to do with Cleveland Ohio. 

With the government pumping so much money out we may not see the drama we were expecting. Everyone needs a roof over their head and if you have money you are probably going to pay the rent first.