All Forum Posts by: Naketa Washington

I would buy an apartment complex in a opportunity zone or a few distressed properties and hold them for about 10 years and cash out.

Is there a rule of thumb for estimating operating expenses for office buildings? I was told that could be 25-50% of PGI. What are your thoughts?

Greetings,

I need to complete a CMA on a property. The property has a home and close to 13 acres of land. None of the comparables have more than 2-3 acres. Is there any rule of thumb for making adjustments for acres in Dekalb County?

Why wouldn't you do both at the same time?  I have a Bachelors and a MBA, both pursued while I practiced real estate. In my opinion, finish up the degree and get into real estate all at the same time.  The degree will help, believe me.

You can email them an application in pdf format.  Have them complete the application and send back with copy of id and 2 most recent check stubs.  I also use Smart Move for credit checks, criminal history checks and eviction checks.  Its super easy and all done online.  Free of charge too!! 

Section 8 program has been great for our portfolio!  We get guaranteed rent every month and 75% of our voucher holders work or receive some sort of income.  I love it because if my tenants lose their income, I wont miss any rental payments.  Section 8 will pay 100% of the rent if the participate loses their job.  The tenants on the program seem to take care of the properties pretty well because they know the property has annual inspections that must be passed. I also do a complete check on ALL of my applicants whether they have section 8 or not. I have never had to evict a section 8 tenant.  However, I am chasing my market tenants on a regular for rent payments.

Awesome!!!!! Thanks Vivek!

I have a small very aggressive leasing team on the south side of Chicago. We currently lease from 17-20 rentals per week and are slowly running out of inventory. I work with Property Management companies, seek out private owners and use the MLS. Any ideas as to how I can find more inventory to lease? My team is way too hungry and I need to keep feeding them properties!! Thanks in advance.

I would not recommend that.  Sure we are compassionate but we have to be smart as well.  Stick firm with your requirements and never allow move in without all funds received.  Good luck!

Thanks!