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All Forum Posts by: Josh Dane

Josh Dane has started 17 posts and replied 96 times.

Post: First residential investment in Cleveland

Josh DanePosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 100
  • Votes 85

@Michael W. Stout if you ever make it out to Chicago - let me know! Similar market as CLE..

Post: Do you invest in high crime areas?

Josh DanePosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 100
  • Votes 85

@Thuy Pham-Satrappe is there a particular area you are looking at? In CA?

Post: What’s your maximum number for single family homes?

Josh DanePosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 100
  • Votes 85

@Aaron Arnold no SFH hate from me.. in my areas where most properties are rentals, SFH are actually cheaper on a per door basis as investors prefer multi family. SFH also help me a ton with retention of tenants and attracting tenants for shorter vacancies. Most tenants would prefer not to share walls and have a yard.. πŸ€™πŸ»

Post: Newbie Wanting to Get Started

Josh DanePosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 100
  • Votes 85

@Mario Perkins what are the concerns you have about being a landlord? Are you just wanting to flip houses then?

Post: People think we're nuts

Josh DanePosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 100
  • Votes 85

@Chris Gawlik when everyone around you thinks you’re crazy.. you are probably on the right track.. keep being crazy! πŸ€™πŸ»

Post: Laws for AirBNB in Chicago

Josh DanePosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 100
  • Votes 85

@Jasmineka Caldwell you really almost need to own an entire building unfortunately. VERY few condos allow Airbnb activity. πŸ€™πŸ»

Post: Newbie Wanting to Get Started

Josh DanePosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 100
  • Votes 85

@Mario Perkins use that money to purchase a residential multi family (2-4 units) for 3.5% down using an FHA loan. Rent out other units. Just make sure to run the numbers ahead of time conservatively to make sure you can cover the amount left over after these are rented out and consideration of vacancies πŸ€™πŸ»

Follow @Hakeem Valles .. he did this exact strategy to start to build his portfolio πŸ”‘

Post: Backing out of rental purchase

Josh DanePosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 100
  • Votes 85

@Edmund Fontana you lose earnest money..

Post: With $50,000 to invest in real estate, what would you do!?

Josh DanePosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 100
  • Votes 85

@James Coon all depends on strategy and which markets you would consider. Minor rehab and long term renting for cash flow (appreciation isn’t a concern, only a πŸ’ on top if it happens).

Post: Anyone use their own family home to get started in investing

Josh DanePosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 100
  • Votes 85

@Jaray Simmons What is the mortgage situation? Can you do a cash-out refi? Use that money to start the next investment.. πŸ€™πŸ»