All Forum Posts by: Eudith Vacio

Welcome, Sarah!

I love your enthusiasm to dive deeper in real estate. There is SO much to learn and this has been such a great place to meet new people.  Be sure to join different networking events on meetup or find other events on here. If you want to get coffee and chat, I would love to. 

Keep the energy going!

@Branden Edenfield good info, thank you Branden!

@David A Shiroma

Thanks. I would like to leverage this to tap into more properties. I just am not sure at which point I would like to do that. This year or next year. I'm leaning towards renting and then seeing where the market heads in the next year or two. 

@Henry Lazerow Thank you. You think the market will get better in the next year or two? It's Grand Boulevard so I know there is more to come, just not sure where the general Chicago market will be going towards. 

@Robert Zavala thanks. I agree! Go big or go home!

@Bob Floss II great question. I have my inspection this week and property management sucks. I've been trying to get a hold of them to obtain the financials but i'll be looking into that, thanks so much!

@Branden Edenfield Perfect, i've heard good things about buildium. Any case in which you would consider appfolio over buildium, vice versa? Thanks again! :)

Thanks, Branden!

I've never heard but it looks like this software is aimed towards large apartment complexes. Any recommendations for smaller 1 - 10 rental portfolio? 

@John Warren IF I decided to sell, it would be as a 1031 exchange to defer capital gains. Have you ever done one? Any challenges?

@Jason Albasha my inspection is this week but the place is aesthetically attractive with grey paint, nice cabinets and in-unit laundry. I wouldn't expect to have much to do. 

Fellow BP investors in the Chicago area: I want to pick your mind.

I am closing on a 2 bedroom/1 bath condo in Grand Boulevard. I was able to get a decent deal at $70k while it looks like the comps in the area for 2bds condo's are selling around $110 - $130k. Rents in the area go from about $1,000 - $1,200.

I would like rent it out since I think the area has much more potential for appreciation but would also consider selling as I know this is a pretty good time to sell.

What would you do?

Thanks!

Welcome! Sounds like you are full of plenty of knowledge.  What systems do you use to keep track of everything?

Fellow BP investors in the Chicago area: I want to pick your mind. 

I am closing on a 2 bedroom/1 bath condo in Grand Boulevard. I was able to get a decent deal at $70k while it looks like the comps in the area for 2bds condo's are selling around $110 - $130k. Rents in the area go from about $1,000 - $1,200. 

I would like rent it out since I think the area has much more potential for appreciation but would also consider selling as I know this is a pretty good time to sell. 

What would you do?

Thanks!

@Claudia Dallosso

Welcome to Chicago!

Are you looking to rent or buy a home to hold on to long-term to rent and live in? The 2% rule is a general benchmark that you can use but doesn't always work out but doesn't mean you don't have a great deal. You may want to use other metrics to identify whether a property is a good investment such as cash on cash ROI.