All Forum Posts by: Larry Smet

Good work @Roman Pak 

Thanks for following up and giving us an update.  It'll be nice to follow your job and see how it all turns out.

Best of luck

Larry

Welcome @Omar A. 

It sounds like you're already doing great!  Keep up the good work and let us know how you do.

This is great - thanks to you all!

@Mark Brogan - are you posting ads to craigslist targeting FSBOs or only responding to posted ads for 3/2s?  It wasn't completely clear to me...

@Joseph Ball  - I haven't come across that service - it looks great.  Could I trouble you for an example of how you use this in this context (if it sees a keyword in a craiglist ad then it emails you a link or something like that)?  I'll definitely look into this further

@Dawn Anastasi  - thanks for keeping my hopes up!  :)   What search terms do you use?

Do you use craigslist (or similar) to find good rental properties?  

What search terms do you use?

What kind of success have you had and what was the key to using CL successfully?

Thanks!!

Hi @Triston Murray 

I agree with everything that @Crystal Smith is saying above and would echo it.  In fact, that's what I'm doing (have been flipping for couple years and now starting to pick up rentals).  I'll just add that the other thing you should consider is partnering with someone.  It has its risks but also significant rewards and provides a lot of flexibility.  You don't have to go private (or hard) money necessarily.  However if you decide to partner definitely get professional advice and put an operating agreement together so both (all) partners know what their jobs are.

Good luck

Hey @John Mathewson 

Let me know if you find any good residential multifamily properties (i.e., 2-4 units) in decent areas in NW Indiana (for by and hold).  We're not afraid of doing rehab to get the property rent ready.

Not interested in Gary, East Chicago or the north part of Hammond

Thanks

Larry

I'm with @John Weidner and @Crystal Smith - although we've done a couple lipstick rehabs (in Chicago that amounts to $40-50k +) they're very hard to find so most are gut rehabs.  Even with a lipstick rehab stuff can go wrong so we always build in a contingency.

Welcome @Robert Schmidt 

Sounds like you have some great experience that you can bring to biggerpockets.  That's great.

Don't forget to listen to the podcasts - they are a wealth of information.

A great way to find deals is through networking - it may be a bit far for you to come in, but @Brie Schmidt organizes a regular meetup of real estate investors in the Chicago area.

Happy investing!

Congrats Atul!  It's always exciting to pick up a new property. Are all your rentals 2-flats? 

How are you financing them, since you're obviously well past the "5 property" limit? 

Well done! 

Larry 

Thanks @JC Gauthier , @Account Closed and @Sam Ally - you're all perfect examples of the variety of ways to make money in real estate.  

JC - I find it really funny how many Canadians are focused on investing in the US and here you are living in Orlando with an investment in Hamilton.  Nice work!

Ha ha - yes, I can see that being weird "welcoming me" to BP, @Brie Schmidt  - I just wanted someone to say hi to show other newbies that Chicago is a friendly crowd or to find some other Chicago investors that I hadn't met yet.... but then found it notable that no one investing in Chicago turned up!  So - thanks for dropping by to say hi   :)