All Forum Posts by: Anthony Hornbeck

Jeremy,

Thanks for the thoughtful input. I'll have to get an update on your progress since last we spoke. 

I'm generally in alignment with your view on SFH v multi unit. I mean from what I am perceiving, the 2-4 units have much lower (buy & sell) turnover and typically (at least on the open market) the units are sitting out there for many months or even years without much price adjusting. It seems that each duplex seller is holding off for the live-in-one-side-rent-out-the-other price. I'm leaning towards SFH for the ability to buy and sell quickly as well.I will indeed be able to get 30 year financing and you bring up a good point with the 10 max loans.

I appreciate the insight offer on the Decatur market, but plan on sticking to Champaign county for the time being. It makes the most sense for me currently anyways.

Champaign Urbana Savoy and surrounding markets, I'm looking to purchase  by end of November. I'm planning on conventional bank financing for a 1-4 unit.

If you know of anything, have something under contract but aren't planning to keep it, let me know. If you're thinking of selling any of your personal inventory, shoot me the info.

@Rob Anderson @Scott Dixon @Jeremy Lamb @Jeremy Zindel 

I'm also seeking opinions on SFH vs 2-4 units. If you have specific knowledge to the region, that's of course ideal, but I'm open to generalized arguments as well.

Thanks all!

You bring up a good point. I'll definitely talk to some neighbors.

In terms of finishing the basement, that will be a decision made down the line, but I see it as a strong exit strategy if necessary. This particular neighborhood is all new construction and has many houses larger than this, and sales prices rise accordingly. I'm not sure of the cost to finish out the ~900 sq feet, but it would pretty easily add 35k value speaking conservatively. More likely 50k.

George,

Thanks for the reply! I told myself "this is normal" but wanted to hear other opinions on this.

This basement will likely be finished out eventually as it's roughed in and wouldn't be too big of a job. I'll definitely want to be sure that I've got no water issues in the basement.

Should I expect to see this happen in more places around the perimeter as it's already happened once? Or is that not a good predictor?

Looking at a SFH for purchase. Newly constructed <2 years ago by a developer known for quality construction. When doing a walk through, I noticed a crack in the unfinished basement wall. Anybody have information on how to proceed? What would be the best line of action to take on this to see if this is a sign of future problems, etc.

Thanks!

Sorry guys. I'm helping to put on a leadership seminar that night at the ihotel. Won't be able to make it. Thanks for taking the initiative to set this up thought Scott!

Not to my knowledge, but a few of us have been talking about getting another one together in the near future. What do you think guys? Meetup in the next couple weeks?

I don't have an answer for you, but I'd love to see someone answer this too!

Tony!

Welcome! I'm also 25 and looking to get more involved in REI. I have been working on my duplex and understand the "every spare minute is spent..." thing. I'm working to finalize my RE broker's license so I can better find deals.

It's great to see you on BP! Welcome and feel free to reach out!

@Max Pike Yes, my duplex is in Urbana, not far from Philo Road and Windsor intersection. It's a quiet neighborhood with older modest single family homes, with duplexes sprinkled in.

I'd be happy to get together and chat sometime. My experience is limited, but it's growing each day!