All Forum Posts by: Natasha Richardson

@Tom Shallcross Thanks Tom. I will look into the meetup, that’s a great suggestion. I actually live in the Pullman area now but haven’t looked over here. I’ve focused on other neighborhoods on the south and west side but have been thinking I need to look outside of the city. I’ve also used the BP calculator and another tool from rentzend but I see the same results. Negative cash flow.

I’ve been searching for a 4 unit turn key house hack in Chicago in my price range since September and haven’t found not one that cash flows or the ones that do flow is so minimal it’s not worth it. I’m pretty sure my analysis is correct using the 1% rule etc. but just wanted to see if anyone else out here is looking for something similar in Chicago and having the same results. Maybe I’m doing something wrong?

@James Galla thanks James!

@Greg Scott thank you! Exactly the information I needed! It raised an eyebrow with me but being so new I couldn’t quite piece together why. Just seemed like I should be wary of it. These are questions I can ask the seller or my realtor correct? In terms of if it’s owned by a larger plex. Thanks again!

NEWB QUESTION. I am looking at a property that is listed as a multi plex on realtor but showing on the assessors website as residential condominium. Does that matter at all In terms of rentIng the units out or are there any special requirements or other things I’d need to do if I were to buy this? Will I be required to have a condo association for example or possibly ordered to do a de-conversion or should the current owners do this?

NEWB QUESTION. I am looking at a property that is listed as a multi plex on realtor but showing on the assessors website as residential condominium. Does that matter at all In terms of rentIng the units out or are there any special requirements or other things I’d need to do if I were to buy this? Will I be required to have a condo association for example or possibly ordered to do a de-conversion or should the current owners do this?

@Matthew G. Thanks Matthew. I will definitely run numbers and weigh all options. The grant money sounds nice so I won’t have to use my cash or much of it for a down payment but I’ll run the numbers to see what makes sense.

@Ned Carey thanks Ned. I thought so but I’m a newbie here so wanted to check with this network.

Hi guys. So I am still looking for my first multi unit to get started in real estate investing. I am eligible to receive a few grants for down payment assistance but in speaking with a few loan officers so far, that may not be the best option because the interest rates are typically higher when using a grant. The only thing that would offset this is if I pay more towards principal. So my question is, is it wise to put more money towards principal on an investment property given that my goal is to produce cash flow?

@Ronan M. Hi Ronan. I sent you a pm.