All Forum Posts by: Giovanni Garcia

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Raymond B. I have no idea why the links are not working but if anyone can help me that would be great thanks. Also Im sorry for all the confusing.

Kyle B. Thanks for the concern I believe I can handle this type of property in this neighborhood and I think it can work out well for me.

Thanks

Raymond B. Sorry about not posting the links
the right way but all you have to do is just have to copy and paste
and they should show you my calculations.

Richard Lee Yes I very familiar with the neighborhood and yes it's not
the best locations but I could work with it and the police station is only 2
blocks away.

Wendell De Guzman Yes I did factor in all the numbers and my CCR come out to be 60%. The links just need to be copy and paste in the address bar and it should pop up. I know the area well and more then comfortable making this my first investment property. I'm just wondering if the numbers work out.

Hey Biggerpockets!

I am looking to buy my first investment property; it’s a 3 unit building. I’ve made some steps as to show what my cash flow and other aspects of the property entails using my Cash Flow Analyzer.

Here is the listing from the MLS

http://www.realtor.com/realestateandhomes-detail/3144-W-Jackson-Blvd_Chicago_IL_60612_M83228-42313?source=web

file:///Users/giovannigarcia2013/Desktop/IMAG0117.jpg

file:///Users/giovannigarcia2013/Desktop/sheet%201.htm

After I did some running of the numbers, I believe this property as great potential to be a good investment. This property is an a C neighborhood and being rented already cash flowing at about $1900 a month. The cash on cash return is at a 60% which what really grab my attention. Also, the building as some upsides because the first floor unit can become a duplex of course with some repairs and the laundry is coin operator. On the outside of the building it as billboards for advertisement and the option to buy the empty lot next door anywhere from $1,000 up to $5,000. I believe this is a good buy but this is why I am here on biggerpockets to see the inputs of others.

Thanks for you time!

Giovanni Garcia

Steven Hamilton II, You were a great help on the phone yesterday with good advice I appreciate it. . With that information you give me I'm going to do a little more h.m on the subject. I will definitely keep in touch with you.

Mehran Kamari Thanks for the heads up!

See you around to!

Bill Gulley seems I have to give it a little more thought which is my plan. Thanks for the support.

Brandon Turner Glad to be part of the BP community! That case which you presented to me had great step by step information thank you for that. I'll be using that as a guide for the future.

Thanks for the info

Elizabeth S. The richdadprogram those help with setting up businesses and other tax advice. I was just looking for another outlet for understanding.

Thank you for your help.

Hi, Everyone.

My name is Giovanni, I've been on BP for a while learning and listening to everything I can. At this point I decided to try my luck with the RichDadCoaching program. I learned a great deal so far, being only 2 months in the program. My next plan or goals are to start putting my business structure into action. So I want to start by setting up a Series LLC in Illinois. With the LLC I plan to put the house that I inherited in the LLC. Some reasons are because of the tax benefits, asset protection, and etc. The main reason is because I plan on using the equity from this property to purchase my first real estate investment. I now receive cash flow in this property because I now rent the duplex and moved into the first floor. Putting about $1,100 in my pocket each month. With that being said I want to start off by investing in multi-unit properties. What steps do you think I should make next or change? Also, can anybody point me in the right direction so I can find the right person to set-up my Series LLC.

Thank you for your time.

Thanks for the comments btw