All Forum Posts by: Jesse Kindra

@Meir Greenblatt

Yup, I canceled all of them!

@Meir Greenblatt

I used to think the same way you did as it sounds like a great idea in theory (limit capex for a minimal fee). So, I purchased home warranties for a few properties. However, what I found was that the contractors that the home warranty company sends out seem to be low-tier and do poor work. I found that in the end, I had extra phone calls and aggravation by myself and tenants so it was not worth it. 

@Nathan Brooks

My apologies to both Nathans as I copied the wrong one! 

@Nathan Williams

Yes, that is correct. As long as you live in it for a year, you are good to go. If you want to buy other properties to go faster while house hacking every year, I don't see why you can't do that as well and pay the 25%. I would obviously check with your lender to see what requirements they would have. Your strategy with a lender is going to be one of the key steps because once you get above 4 properties, it does seem to get tougher for financing.

@Nathan Brooks 

Yes, that is correct. As long as you live in it for a year, you are good to go. If you want to buy other properties to go faster while house hacking every year, I don't see why you can't do that as well and pay the 25%. I would obviously check with your lender to see what requirements they would have. Your strategy with a lender is going to be one of the key steps because once you get above 4 properties, it does seem to get tougher for financing.

@Lewys Jones

I'm not certain of your exact situation. With that said, I would house hack 3-4 units, take advantage of the 10 Fannie/Freddy loans available to you, and use minimal funds (3.5% down). This will allow you to quickly gather a bunch of units with excellent financing terms. 

Why am I confident with this choice? Because for me, in hindsight, this was the best strategy to grow a portfolio quickly. At this stage in my life, I'm married with kids and it's not a realistic option. While I do invest on a regular basis, I get investor loans (more costly) and have to put 25% down for small multis.

Best of luck.

@Pancham G.

Thanks for sharing your story. It's always great to hear details of making this kind of shift. Best of luck with everything you have going on!

@James Wigdahl - thank you for your input on Dolton and also passing along your cash on cash returns.

@John Warren - thank you for your comments as well.

Let me change the question slightly on this string. What about investing in Richton Park, Chicago Heights or Dolton? Any opinions?

Henry, @Henry Lazerow, thank you for the input on their rehabs as that is valuable info to have. Do you have any info on PIP's/Scott's reputation in Chicago? 

Also, they do buy/operate rentals on the south side so I do recognize that you have to be careful about that. Any sense on whether they are strategic in picking streets/blocks. Any other insight by you (or anyone else) would be appreciated.

Hi @Ryan Fox

Thanks for responding - much appreciated. Do you know if anyone has any input on PIP Management? I found them through Real Wealth Network and others in that network have used them. I want to get a feel for what other investors had to say about them. 

I'll send you a PM as well.