All Forum Posts by: Dennis S. Gelbart

Hi

Does anyone know of a good multifamily broker in the ciceroni-Berwyn area of  Chicago?

Thanks

Dennis Gelbart 

ok  so I go to the app meet up?

I would like join or help start a real estate mastermind group. Anyone interested?   My focus is multifamily outside of Chicago area. 

Dennis Gelbart

Hello Everyone,

We are a real estate developer interested in purchasing multi-family it Valparaiso Indiana. Networking is our goal in order to help you as well as us grow.

Best

Dennis Gelbart

@Nadir M.

You should get an accounting from the pm. Hours spent plus cost of part

Long distance? Bad idea

Manufactured homes are great for certain parts of the country. Having worked with them in the Midwest, the key is being close to the manufacturing plant and insuring local codes  and municipalities work with mobile homes. SOME HATE THEM others do not care.

May I suggest the following.... You need to research the demographics of markets within two hours by car of where you live.  Make a circle around that area of two hours and see what towns , cities etc. fit in to the circle

Key indicators are jobs, and is the area stable and direction of rents in last few years.

use american factfinder from the us census  review the economic, and demographic data

good luck 

@Sean McCluskey

My friend is a mortgage banker. Bottom line, they already made adjustments do it now. It’s not worth the aggravation

You have a few risks here. What if the tenant DOES NOT vacate and stays longer? What if the tenant decides to RIP OUT THE TOILET. Yes these are possible. You need to put in the closing some how the place must be vacant and reasonable working condidtion. They could stay forever and it can take you months to evict them depending on where it is located and rip the place apart since they know they will not receive their deposit.

GOOD LUCK

Dennis 

Bottom line
A lot of time and energy, but faster way to create wealth than working at a job and working overtime. Initial investment of time is HUGE. Only after a few years will the results start to trickle in and GROW.
Dennis