All Forum Posts by: Nate Shields

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@Matt Ference If it's ok, I will start tagging people in this thread so we can reboot the Sycamore/DeKalb meet up. Can't wait to see everyone!

We almost pulled the trigger on an offer for this one. I'll fill you in on why we didn't and why we were ok with (slightly) negative cash flow.

We ran pretty conservative numbers but were unsure of exact rent numbers for that particular neighborhood. We looked on Zillow and Rentometer to get an estimate and came in $100 less than what Zillow said. After contacting our property manager for a full analysis, they determined it was actually an additional $100 less than our estimate. Zillow said $1,600. We used $1,500. Property manager said $1,400. 

This is why it's so important to rely on your local experts!

We were ok with the negative cash flow if all other metrics were right because we'd be buying the property at a deep discount and have immediate equity, likely enough to BRRRR or close to it.

View report

*This link comes directly from our calculators, based on information input by the member who posted.

@Jonny Abramson As I haven't lived in the area for almost two years, I'd look into what @Scott Passman is saying. Sounds like good news!

@Jonny Abramson High taxes (although good luck in IL in general), lack of growth, etc. We still own a couple properties in IL but our portfolio is mostly concentrated in southern states. 

@Breanne M. We're up in Madison, WI now. We had one property in DeKalb and still have one in Sycamore. I don't have any experience in Rockford, but I think there's a solid networking group there that you could easily find. 

I don't think I'd invest in DeKalb again personally. Since you're moving to St. Charles, you may want to consider investing there. We have a property in Geneva and I've flipped in both Geneva and St. Charles. Probably tougher to find cash flow but it's a more desirable area. If you're looking for cash flow then I'd probably get to know Rockford or you could hop right across the state line and give Beloit or Janesville a try. I know you can find cash flow there as well.

@Breanne M. We sold that property and honestly, we didn't have the greatest experience with Yamber once it changed hands. I'm not in the area anymore but I'd recommend reaching out to some local realtors to see if they do property management. I have heard good things about Carrie Ottum.

@Michael Kramer

I’ve worked on multiple deals with attorney Greg Earl. Sometimes we’d use Fidelity and sometimes we’d use Chicago Title.

@Evelyn Castillo It's usually based on income, credit score, and DTI (debt-to-income). Since you are younger and don't have much of a credit history, creditors are more hesitant to lend, but there could be other factors.

@Evelyn Castillo Welcome! You can certainly invest working part-time. And you can partner with other investors on deals, meaning that you may not have to be out of pocket as much money as you think, which may help you decide if you need to get a higher paying job in the future. Feel free to reach out with any questions!