All Forum Posts by: James Syed

@Michael Shear

Thank you for your kind words. 

I bought a six (6) unit building in Saint Clair County outside of city limits of Belleville. 

Hope you get a good lender for your purchase. 

Good luck.

Welcome to BP. 

Closed on the property on December 7, 2016 finally. 

Big step for me towards commercial real estate. 

Will be placing final figures!

Thank you, BP members and especial thanks to @Ronald Perich, @Joshua Dorkin & @Brandon Turner because without these people I wouldn't have been able to do it. 

Welcome to BP. 

Generally speaking, Illinois is a tenant friendly state. 

Welcome to BP. 

@Edward Noseworthy

Great thread there!

I am a multifamily investor, real estate broker and a property manager. 

Would love to connect. 

Hello BP members, 

Here is an update:

Appraisal is due back on coming Monday hopefully. 

Welcome to BP. 

@Jack Taylor

I hold an Illinois Real Estate Managing Broker license. When you sell a residential property (up to 4 units), you are required to provide the following disclosures:

1. Illinois Residential Property Disclosure

2. Radon Disclosure

3. Lead Based Paint (if year built is prior to 1978)

These disclosures are to protect Buyers. 

Hope it helps.

Welcome to BP.

Greater than 15% ROI and 10% or over cap rate sound great. We usually go by cash flow.

Hope it helps.