All Forum Posts by: Eva Henry

@ Kurt Jones the -$13000 is the roi net. Since I am househacking I will only cashflow about $2,600 this year. But the building would cash flow about $6500 annually with the current rent market if I wasn't living in the biggest unit.

I have purchased my first property this year in February. It is a duplex that I am house hacking. I have had a steady paying tenant  for 7 months. Despite the small preventative maintenance and home owning surprises ( hornet nest, leaking AC, sink clogs) it's been pretty smooth sailing, and now I'm itching to get another property. I am eager but still want to be smart when I grow to get a second property.  I'm not yet in the positive with this first purchase.   I am still about $13,000 negative. I think it may be due mostl to me house hacking that I am not seeing my cash flow first hand. I'm currently saving for the next down payment and cutting down my debt tree to bring up my credit score. However, would any information with the first property make a difference with when I should go for the second property?

I have purchased my first property this year in February. It is a duplex that I am house hacking. I have had a steady paying tenant  for 7 months. Despite the small preventative maintenance and home owning surprises ( hornet nest, leaking AC, sink clogs) it's been pretty smooth sailing, and now I'm itching to get another property. I am eager but still want to be smart when I grow to get a second property.  I'm not yet in the positive with this first purchase.   I am still about $13,000 negative. I think it may be due mostl to me house hacking that I am not seeing my cash flow first hand. I'm currently saving for the next down payment and cutting down my debt tree to bring up my credit score. However, would any information with the first property make a difference with when I should go for the second property?

I have a 2-flat in the Chicago area that I just acquired. Would anyone have a preventive checklist on an excel spreadsheet with the type of repair to focus on and the months/seasons of work?

I'm  on the way to purchasing my first property!!! My offer was accepted on Sunday. My realtor had an attorney to review the contract draft and referred them to me for the review. Is it common practice to use the attorney referred by the buyer realtor to review the contract? Also, if not does any one have knowledge of a good real estate attornery near Forest Park, IL?

Hello community. So my problem isn't necessarily with a spouse. It is with my boyfriend. I have been looking for my first rental property for about a year and have been dating this guy for 7 months. When I was about to take the wait and see approach to my property search I decided with my mate to move in together instead. While he started looking for apartments I tailored my multi-property search to places that meet our needs. 

Quickly that change produced a property that would produce 13% cash on cash return with no major work needed. The place would even be move in ready by the time we actually need to move. When I bring up the idea of me buying a place he flips out about he is not ready to buy a house ..... and I wasn't  asking him to be. For a lower down payment i need to occupy a unit. Is there any ideas for me being able to occupy the property without losing my relationship?

Thank you for the wonderful responses. I was able to get a contractor to come along with me for a second look at the property and from his perspective there was so much that I didn't include in my initial estimate for repairs. As was mentioned by several members  I should start with a strong foundation. Thank again for your help.

Hello everyone! I'm new to the investment world . I'm currently looking to purchase my first multi-family property in Forest Park, IL. I am currently crunching my numbers to purchase a  94 year old  duplex (5 bed/2 bath) property. The building has some bubbling in the floor and window leaning due to an unlevel foundation. I am looking to get estimates on the repair to help determine my offer; since the property is being sold "as is". Would anyone know of a foundation repair contractor that works in the 60130 area. For those investors that have worked with properties with structural repairs, is there any advice on what additional repairs to look out for and tips for what to prepare for/ avoid? Also, is it typical to have a contractor come with you for property viewing (How does that get arranged?)  As you can see I am full of questions. I eager to learn and I look forward to getting to work in this talented community.