All Forum Posts by: Elsa M.

Makes sense, thanks guys..

Hi everyone, how important is location when buying your first multifamily rental property?  I'm looking to house hack my first property, and I'm not sure if I should find a 2 or 3 flat in Chicago area where it's more expensive and what I can afford will definitely need more work then I would like, or buy a multifamily property is a suburb where I can find a property in better shape and perhaps at a lower price with a lower mortgage . I'm not sure what to do because wouldn't the Chicago property appreciate more over time and be wroth a lot more? Or is it a good idea to buy a property in a decent area that might not appreciate much at all but I'm getting somewhat decent cash flow?     

Thanks for the help!

Both great ideas, thanks guys...

Hi, I live in the Chicagoland area and I'm looking into buying my first rental property, which I'm planning on house hacking. There are so many real estate companies I'm not sure who to go with or where to start. I would like to work with an agent who is also an investor. Any suggestions?   

Thanks!

Please feel free to PM me!

Thanks everyone, perhaps I didn't explain myself very well. What can I be doing to contribute more to my retirement other then a 401k and savings account?  Would you guys recommend speaking with a financial adviser? I'm hesitant because I feel like they just want to make money off of me. I hear a lot about the S&P index fund,  should I invest in stocks? How would I get started?  I feel like I should have more then just a 401k but not sure what I should be doing. I currently have no debt.  

Thanks again!

Hi everyone, this is not a real estate question but more of a personal finance question on how I can save more for my future. I am currently working part time, I have a 401k and a savings account. I am in the process of saving as much as I can for my first rental property, I will be living in one unit and renting the other. I'm in my mid 30's and feel like I should be doing more for my retirement but not sure what else I should be doing. Do I need, or would you recommend a Roth IRA? Any other suggestions?

I appreciate everyone's input, thanks!  

Thanks Bob!

Ok, thank you!

Ok thanks!

Has anyone heard of the DreaMaker loan that Chase bank offers? I'm looking to purchase and house hack my first rental property. The mortgage loan officer said that this conventional loan is better than an FHA loan. It offers 3% down payment, lower PMI than FHA, interest rate is 4.00%, and APR 4.063%, DTI ratio 45%.

Any ideas as to which loan is better? FHA or DreaMaker?

Thank you!