All Forum Posts by: Michael Kretch

@William Powers Have noticed the rental rates are markedly lower than many areas of IL and I'm assuming the slightly lower property taxes don't make up the difference.  So I guess the challenge is determining whether the greater housing stock and potential job growth bridge that gap.  Have you done any investing in Kenosha County or do you stick to Lake?  Also, really enjoyed your podcast!  

@Rebecca Knox Thanks Rebecca, I'll go ahead and do that and actually did speak with someone from your site on the phone yesterday.  I've done some simple searches in Racine and have been there a few times, plan to learn more of the area as I learn more about Kenosha County.  

@Brian Head Thanks, I was actually on her website yesterday!

@Pat Parrillo I would have a lot to learn as far as development but can see how it could make sense with the nearby jobs and land.  If I get a better sense of the opportunities in Kenosha and the surrounding areas I'd be happy to share.  Planning on driving up again in the next week or two.

I’ve been working on narrowing down where to invest and being in Chicago, there is no shortage of property types or demographics. If I were to look outside of the city and surrounding suburbs, one area I find interesting is Kenosha and Kenosha County. There are local jobs, new business and warehouses moving in and logistically the city is near both Milwaukee (also a very interesting area) and Chicago. I’ve taken a couple trips up there recently and driven around, still getting a feel for the rent rates and neighborhoods. Would anyone be able to provide any insight or advice on the area?  

Had thought that was the case but then started second guessing myself.  Thanks @Christopher Brainard!  

Hi BP,

I'm unsure of the affect a loan would have on an individual's net worth.   One way to be considered an accredited investor is a net worth exceeding $1M, excluding primary residence.  So, let's say an individual has a net worth of $1,000,000.01.  That person then purchases a $200k investment property putting 25% down and creating no equity.  Let's assume the market agrees that the value of the home is equal to the purchase price, $200k.  In this situation, has the individual's net worth decreased due to the $150k debt obligation and is no longer an accredited investor?  Or has the individuals net worth remained constant at $1,000,000.01 since no equity was created and the market agrees that the home's value is $200k?  

Any insight is appreciated!

Appreciate the update on original post, helpful

@Dmitriy Fomichenko @Jeff Wallenius Thank you both

@Account Closed Thanks!

Hello BP members,

I'm Mike from Chicago, IL. I grew up in the western suburbs and have lived in the city since 2006 on the north side, working as an equities trader. I'm currently searching for my first deal within or outside of the Chicagoland area. I'm interested in the multi-family space but am open to any opportunity that can build up cash-flow or experience. The BP podcasts are so motivating and informative, awesome to hear and read about the many approaches to REI. A few of my friends are experienced investors and I was very involved in a smoke/fire rehab and sale of a SFR last year. Right now I'm honing in on where specifically in the region makes the most sense to invest for my goals. Looking forward to being involved in the BP community and have a lot of questions, hope I can provide some answers as well. Thanks!

-Mike Kretch