All Forum Posts by: Jamie K.

@Donnie N. Sorry for the late reply its been a busy week!! It took me over a year to find a good deal but I was just looking on the MLS. My sister is a realtor so we looked at quite a few and made several offers until one was finally accepted. Ever since Brandon mentioned Joliet,IL being a grest place to buy rentals for good cashflow on one of his podcasts its been blowing up with investors. It may take some time to find a good deal but they're there.

@Brian Geiger

Closing on my first sfh next week in joliet! The city has a lot to offer and rents are relatively high with property taxes being low depending on the location of course. Would love to connect!

@Paul De Luca yes that was part of my thought process. I can get the property quickly rented out over the winter months and update in the summer. Thank you for your reply!

BP comminuty, I'm looking for feedback on what lease terms you have found to be the most successful for sfh rentals? I'm leaning toward a 6 month lease for my first property. Any help deciding is appreciated!!

@Marc Desrosiers Sounds good! Thanks for your feedback!

@Loren Perez great tip thank you!!

@Forrest Faulconer Good point! Every day counts when it comes to getting a solid tennant in asap! Thanks again!

@Steven Wilson thank you! I plan on managing it myself and using cozy for the screening/application/rent collection process. I have a trusted handyman ready to go because I'll need a new water heater before moving tennants in and a few other small repairs. I haven't determined how I will keep Capex separate. I do however plan on putting the rent and security deposit in a separate bank account that's ready to go. Do you go a step further and put Capex aside? Thanks for the reply!!

@Forrest Faulconer it's not a BRRR but I do plan on doing some updates as far as painting the cabinets and flooring in the bathrooms. So you're saying get all of the materials purchased? Probably a good idea! Thanks for your reply!

Hey BP community! I am currently 2 weeks away from closing on my first sfh in Joliet,IL. Any recommendations on things that I could be taking care of in the mean time? I'm super excited to get started but I have some lag time that I would like to make the most of. Thanks for any suggestions!!