All Forum Posts by: Nick Patterson

Hi My question would be... that's a lot of work. (Digging basement, etc). Is the extra cost going to make you that much more of a return? Cost vs time....

Hi I would refer this question to a zoning attorney. If you need a recommendation let me know.

I find (myself included) buyers to be too light on expenses. I have 10 6 flats in Bridgeport, chicago. My annual expenses range from $20,000-$25,000. Ave. $3500 a unit per year. Those are real expenses (not including taxes or P&I).

With condos I can see that it will be very hard as the forced appreciation for the BRRRR is so tight.

With a 6 unit building, raising rents by $100 a unit equals $600 

With just one unit, I can't see how its possible unless you get the property for 60% below market at acquisition. 

Hi Kurt

Chicago!

Make offers and make mistakes!

We Never take a deposit Never ever Too many bad experiences We charge a move in fee Life is easy

Haha That makes me laugh. I get that all the time from Realtors. I say congrats on the experience, you are in the right direction placing offers. It's always the 'in my 25 years, I never...' blah blah Then the next day they say 'the seller will accept your offer'. Many times they seem to forget they are not the decision makers and get too personally involved. Realtors sure are a wild bunch. I sure know all about it!!

Hi For 1-4 units go with an experienced residential broker. Ask your circle get a referral For 5+ a residential broker can help but also develop relationships with the multi family companies that don't list on the MLS. Like Marcus and Milliochap kiser group interest realty Essex, etc....

Good point - $50 for Tony Robbins is pretty insane. 

What do you think of these events?