All Forum Posts by: Juan Castillo Jr

Hello

I’m currently in the process of renting my first property and obviously have lots to learn. But, most importantly is making sure the rent is paid by the tenant by giving them options to make the payment to avoid delay in payments. What service or what is your approach to receiving rent from your tenants? I might have an hour drive to the property so collecting payment in person is something I want to avoid. Thank you in advance for your insight.

All other recommendations are truly appreciated. 

Quote from @Juan Castillo Jr:

Hello,

I currently live near Midway Airport (Chicago) and the area has definitely changed. I would like to relocate my family to a home in one of the surrounding suburbs. So, I feel stuck since we have good equity on my current home. But I need to consider the safety of my children. I have approximately $100k in equity on my current primary home. I would like to sell to get into a new primary and use approximately $10k-$20 depending on the final sale from it to start my real estate investing venture. My other thought is to refinance do some upgrades on my primary and use part of the money to buy another primary. Then, rent out my current primary to have passive income. 

Some advice would be greatly appreciated. Thank you in advance.

Additional questions, What is your go to website for background checks on potential tenants? Also, where do you normally advertise your rental property? Is there any fees involved for the background checks and advertising your rental property?

Thank you @Jason Albasha for your feedback. That’s my concern if I refinance with cash out I’ll need to know my limitations and/or what I’m able to do with the money. 

@Theresa Harris. Thank you for your reply and your feed back. It is much appreciated. I would like to bring in a young family, my neighbors are great and I would like to leave them with another family. With the hopes they keep things clean, emphasizing on the hopes. I agree on reaching out to my lender to see all my options. I’m leaning on renting out my property and buying a new primary home. I’ve been here for nearly 19yrs, I know the upgrades it needs to last another 19yrs. Thank you

@Johnwarren Thank you for your feedback and that is great to hear about your investments. Congratulations! I have 3 kids and yes moving would be challenging, I have 6 more years before my youngest graduates HS. I would like to move them to one place and not move again until they are out of HS. Since I’m just now starting to look into investing I would be nervous getting into a large multi unit. I’m thinking a single family rental unit to start then stack from there. Thank you again. 

Hello,

I currently live near Midway Airport (Chicago) and the area has definitely changed. I would like to relocate my family to a home in one of the surrounding suburbs. So, I feel stuck since we have good equity on my current home. But I need to consider the safety of my children. I have approximately $100k in equity on my current primary home. I would like to sell to get into a new primary and use approximately $10k-$20 depending on the final sale from it to start my real estate investing venture. My other thought is to refinance do some upgrades on my primary and use part of the money to buy another primary. Then, rent out my current primary to have passive income. 

Some advice would be greatly appreciated. Thank you in advance.

I know this is an older post but if you could share the links with me for meet ups that would be great. I’m just learning about investing and would like to start networking. Born and raised in Chicago. I’m a full time salesman looking to start investing. Thank you

Hi Marco

We’re you able to get a hold of someone? My American Family insurance agent has some contacts that he personally uses. I could reach out and share the contact with you if still needed? I grew up in Pilsen (near Cermak & Damen Abe) where about in Pilsen?