All Forum Posts by: Farris Gosea

@Michael J Scanlon not going to keep arguing but I still did not see any reasons why Aurora is better. The amount of available rentals is there is astonishing compared to NWI where there is a shortage of rentals and people begging to move in. 

@Michael J Scanlon being at 62 units, and living in Oswego myself for 2 years, you don’t think I checked the market in Aurora and Elgin? Aurora is one of the worst towns in Illinois. The taxes are horrible and tenant laws are terrible in Illinois. 

Indiana your cash flow is better and in way better towns, 2 weeks to evict, and are you seriously trying to compare Aurora to Munster / Schererville and Crown Point Indiana? If you are I would say you definitely do not know much about NWI. If you have some solid reasoning as to why one of the towns with the worst schools and highest crime rates 1 hour from Chicago is better than one of the best towns in all of Indiana thats 30 minutes from the city I’d love to hear it. Market is over priced there if stuff is up that high. In NwI the appreciation is up and just beginning. Touting NwI doesn’t even help me, I have nothing to gain apart from more competition, you yourself are a broker and want sales. So I would say my opinion is probably less biased haha. 

@Michael J Scanlon you are definitely incorrect lol. Check Zillow. 250 contacts in 5 days for rentals in NW Indiana. Appreciation here has been off the charts. I’m pulling out $400,000 dollars in 3 years of buying. 

A lot of people can’t generate their own leads and I guess that’s the point. If people can learn to do this themselves they can become a multi millionaire a lot quicker on their own than paying for a lead and that’s it.

Hi Chris, 

I own 62 units in NW Indiana and if I was you I would focus on this market, the cash flow is incredible, the appreciation has been good as well and people are flooding here from Illinois. If you want to connect happy to talk further!

Hi group, looking for some advice on this topic.

I am thinking about trialing a real estate mentorship program for people who want to get into real estate investing or maybe their first house hack. I’m currently 27 and own 61 rentals. This has more than “retired” me from clocking in for a 9-5 ever again. Personally I won’t stop working, I enjoy my business and real estate too much and will continue to add to the portfolio.My question for this group is, what do you think a fair price is for use of my time on the phone / email / in person if they are in the area / analyzing deals with them, helping them build a team, helping them with how to skip trace and cold call if they want to source a deal that way, write contracts and leases etc.

I would also come out and look at the first property they have under contract and help them through closing and for a few months after close on how to manage effectively, or help them vet management companies if they want to go that route. Plus just making sure all their systems are in place. 

What is a fair price if I were to offer this service? I have helped some friends, and a few of my friends friends want help, but as you can imagine I can’t keep helping everyone for free as it takes so much time.

Thanks for reading and your advice.

I WOULD NEVER PAY A PRICE WHEN ITS BEEN ON AND OFF FOR FOUR YEARS!!!!!!!! DONT 

Well trying to do. So that’s why I’m not sure I’ll get the loan. 

Ah ok got it. Yeah the one I'm doing is an FHA loan 3.5% down

Appreciate all the efforts with these answers and quick responses. Your the best!!

Last question is. Are those available with an FHA loan?

Thanks so much!