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All Forum Posts by: Sam L.

Sam L. has started 5 posts and replied 159 times.

Post: Duplex appraisal value 11K under contract price...now what?

Sam L.
Posted
  • Rental Property Investor
  • Joliet, IL
  • Posts 163
  • Votes 85

What do the numbers say? If it cash flows and before the appraisal you were willing to pay 87K what does it matter if it apprised for less? Obviously, this is a good chance to negotiate a lower price but if the numbers work, than move forward.

Post: Why do sellers want to keep their ugly house??

Sam L.
Posted
  • Rental Property Investor
  • Joliet, IL
  • Posts 163
  • Votes 85

Could be the same reason you see highly collectible vehicles rotting away in fields. Some owners truly believe that one day they'll get around to fixing it up but never do...

Post: Business Cards for Networking

Sam L.
Posted
  • Rental Property Investor
  • Joliet, IL
  • Posts 163
  • Votes 85

Just because you have business cards doesn't make you a real estate investor nor does it make you look anymore "legit". Go to REIAs, network and show the people there you are serious, it'll go a longer way than just giving people a card with your name on it.

Post: Bathtub replacement for rental

Sam L.
Posted
  • Rental Property Investor
  • Joliet, IL
  • Posts 163
  • Votes 85

I'm about to gut a bathroom for a rental. What are your thoughts on those 1 piece tub/shower combos?

Post: Failure to launch, no luck so far

Sam L.
Posted
  • Rental Property Investor
  • Joliet, IL
  • Posts 163
  • Votes 85
Originally posted by @Russell Noga:

You can't get rid of your truck now because you're 23 and don't know better. That will come with experience and you'll look back and laugh on what you're saying right now. You want to be rich and have income producing assets? Or do you want a job your entire life? Big boy decisions now, ditch the truck. You want great advice but you're not willing to act on it if it doesn't fit your lifestyle choices.

Get rid of the truck, get a second job, raise your income. Your 23, now is the time to be working your butt off. Start making responsible decisions now and you could be very wealthy at 33. THEN you can buy any truck you want. 

 Excellent first post!

Post: Do you invest in IRA and/or 401k any more?

Sam L.
Posted
  • Rental Property Investor
  • Joliet, IL
  • Posts 163
  • Votes 85

My breakdown goes like this:
Company matches up to 6%
8% into a 401k
8% into a roth 401k
2% goes into EESPP (company stock purchased at a 10% discount, at the cheapest price per quarter)
10% of my check goes into RE investing


Along with my pension (which is peanuts) I like the idea of multiple income streams into retirement. I do own a Roth IRA but the amount in there is minute and haven't added any $$ in there in 3 years.

My long term goal is early retirement and buy at least 1 property a year. Everyone has different ideas, and expectations but I feel I am headed down the right track. Good luck to all!

Post: Joliet Area REIA

Sam L.
Posted
  • Rental Property Investor
  • Joliet, IL
  • Posts 163
  • Votes 85
Originally posted by @Frank Grigus Jr:

Did the ball ever get moving on a Joliet area meet up? I'd be highly interested. 

 I tried but as you can see from a few post up that I asked everyone what days would work best but no one responded.

Im most available on the weekends.

Post: Zillow sued over 'Zestimate' by Glenview homeowner

Sam L.
Posted
  • Rental Property Investor
  • Joliet, IL
  • Posts 163
  • Votes 85
Originally posted by @Account Closed:

@Edward Smith I am told that Zillow's model is to provide the AVERAGE price per sq ft. That is like saying a 6 foot long horse is equal to (6) 1' foot long chickens. While you can eat horse, it just isn't right and chicken tastes better.

Besides, don't they smoke a lot of dope in Seattle? "Hey man, let's make this one $649,143 whatda ya think?"

 Have you ever ate horse? "It just isn't right" because we've been conditioned by ranchers for years to think it isn't right when it's perfectly acceptable in other parts of the world...

-rant off-

Post: Bandit signs??

Sam L.
Posted
  • Rental Property Investor
  • Joliet, IL
  • Posts 163
  • Votes 85

@Jonathan Frausto Not sure how up to date this is but :
 

http://jolietcity.info/home/showdocument?id=4369

Post: Joliet Area REIA

Sam L.
Posted
  • Rental Property Investor
  • Joliet, IL
  • Posts 163
  • Votes 85

Lets get the ball rolling here people. What day of the week works best for everyone? I vote some time during the weekend as I'm pretty stacked during the week.

Lets get a head count of those interested then we can nail down a location.