All Forum Posts by: Joe Demonte

Welcome @Boyde Greenaway ! 
A few tips on navigating the site you can view specific forum categories by hovering over the "Forums" at the top menu bar and selecting "All Forums" 
Since you wanted to know some more information on wholesaling here is the link to that category Wholesaling

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Hope that helped! :D

You basically wrote exactly what i was thinking while I read some of the other posts. Personally I get a 100% match on my 401k (up to $5,500) and have utilized that the first 5 years of working there. At my age (28), I would like to slow down that investment & put the money I would normally put in my 401K, into an account for REI. I just dont want to continue to put a majority of my investing money into a 401K account that I wont be able to touch until I turn 65 years old (without getting enormous penalties for early retirement withdrawal).

So my investing has come down to...

40% 401K
10% P2P Brokerage
10% ETF & Spider stock funds
40% REI

I am no Financial Advisor, but I like to personally invest and learn from my mistakes on the way. Hopefully learning enough to skew the allocations more towards the REI world within the coming 5 years.

Welcome @Andrew Jeffery ! Hopefully you can find what you enjoy the most in REI and not have to commute back and forth anymore! :D

@Tanisha Blakemore I agree with  @Josh Mitchell  Much more cash flow potential as long as you're willing to live in a MFH with tenants. But you could always crunch the numbers and see what say.
Lincoln Park has always been really nice. 
Logan Square definitely has some opportunities. 

I was just in Ukranian Village and fell in love with that area. 
How is Ravenswood & Albany Park? Those areas seem really nice, quite, and more affordable compared to Lincoln Park & Lake View. 

Wow! Look at all those windows in the floor plan. Once you get all that overgrowth out, and restored its going to look incredible inside with all that natural light coming in.
What potential! 

@Philip Williams 

Congrats! Those numbers workout really well! Great idea finding out the owners motivation, and using it to both of your advantages. It was a win/win & owner financing was possibly another win/win. 

I have been just working out the Rockford numbers from a distance, and think the opportunity for cashflow is fantastic. Buying it right helps your appreciation exit strategy. 

Just seems like the taxes in Cook County really kill any room for buy and holds. Is it just me or does anyone else agree with that too? 

Keep it up! 

Thanks for the clarification @Jay Hinrichs . 
I could see how using an out of state company to buy and manage your properties can hurt returns. Especially since you dont have that much control over many factors (locations, rent prices, exit options, fees). 
One could also make the argument that if you are doing your own out of state buy and hold investing, that you will no doubt have more control & some tax benefits, but that is a different topic thread all together. 

I do see many big benefits of lending side of things. It really peaks my interest... 
Thanks again. 

@Karen Margrave Ah, yes! Thanks! Must have skimmed right past it when I was viewing it on my phone :(

Barry, do you mind explaining why you think it has been better to be a lender as apposed a buy and hold now that you can look back at it all? 
Was just curious. 

Where did you focus your energy on the lender side of things (hard money, notes)?

Thanks in advanced.
Just trying to understand the lending side of things.