All Forum Posts by: Mushfiq S.

How did you manage to put only $5k down? Was it a conventional bank loan or some other method? Apologize if this is a dumb question.

@Carly Franklin Welcome! I also recently joined BiggerPockets. I grew up in Oregon. Now I live in Seattle. I recently purchased a condo in Portland (closing soon if everything goes to plan). BP is a great resource!

Sorry if this is in the wrong category in the forum.

I will be closing soon on a condo in the Portland, OR area. I need a property management company to manage the property. The tenant is already in place.

Most quotes I have received have been 8% of the gross rent. Since this is my first of many investments, I would like to minimize this for now. I plane to by several places in the Portland area and would like to stick with a single managment company.

Anyone know of any good property management companies that have a lower % fee OR better yet, that have a fixed fee per property?

If you personally have a property management service, please let me know.

Thanks!

@Brie Schmidt sent you a private message. Interested in the property analysis since I am moving to Chicago in a few months.

@Steve B. 

I agree with you. The last sentence on appreciation is what I was trying to ask. The consensus of Portland seems to be that it is not done growing yet in terms of appreciation in the medium term. 

Just wondering what you guys think about East Portland-ish (i.e. Gresham). Their is a direct MAX line from their to anywhere in the main Portland downtown area and others. Any thoughts?

 Can you expand on this?

@Josh Mitchelltotally agree with that. Luckily, my job is flexible so I can figure out times that work.

Thank you all for your help. I believe I have some areas that might be good. Wanted to ask the Illinois experts, how would you rank these areas if you were going to invest/live there? I have no kids. Just wanting to invest in the right spot for future rental potential when I leave the area in 3 years or so. I have a car for commutes which I plan to use.

Lemont

La Grange

Hinsdale

Bolingbrook

I am choosing a spot approximately less than halfway between Chicago city and Lemont. Bolingbrook is an outlier but I have heard good things. 

Thanks!

Thank you Aaron. I will definitely keep tabs on the community you have going on!

Sarah, thank you for the information. I am OK with a 10-20 minute commute. I would like to drive (no train/bus). I am more than OK to drive towards the city on my days off. I personally do not like the idea of a condo in the main city. I will send you a private message so we can discuss more.

Thanks!

Hey,

Just joined this website yesterday. Really liking the atmosphere and wealth of information. I currently own a condo close to downtown Seattle. Soon I will be moving for a minimum of 2-3 years to Illinois.

Specifically, I will be working in Lemont, IL which is about 30 minutes away from Chicago, IL. I am looking at properties in the area and they are affordable. The typical price I am seeing for a 2 bedroom, 1 bath is about $90-150k. With the math, it is cheaper for me to buy than rent.

I am not sure which areas between Lemont, IL and Chicago are good for investing/living/resale. While I do not have any kids, I would like to buy a place close to good schools for purposes of resale value. I am not entirely sure on the long term growth of the area in terms of equity but I would like to be in an area where potential tenants are available. 

Anyone have any ideas which zip codes, counties, areas I should focus on?

I am visiting in late March for a job visit. Afterwards, I plan to check out some properties.

Any help is appreciated.

Regards,

Mushfiq