All Forum Posts by: Nathan Fernandez

@John Warren would be an amazing guest on here. He is a rockstar agent who owns a property management company in addition to his significant multifamily portfolio. He’s my go to on any questions or issues I need help with!

This is a great event every month! Since joining this meetup I have gone from 0 units to 26! Definitely worth attending. 

I attend these FREE meetups every month! There is always a great mix of different level investors that attend. I've learned a ton as well as gained confidence to buy buildings since joining this group. I will be there next week!

In addition, Salerno's has great food! 

@John Warren is an amazing realtor! He knows the area and knows the best way to get things done. 

John is very in tune with the market. He sold my primary home a year ago and it sold for $20k over list price due to their sales practices and their aggressive negotiations. Not only did we get a great price, he was able to negotiate great terms for us which worked in our favor. 

Since I started working with John 3 years ago I went from 0 units to 26. 10/10 would highly recommend. 

I attend these meetups every month! This meetup is a great event connecting many of the investors in the West Chicago Suburbs. Prior to attending these events I had 0 deals, but after attending the past few years I have now acquired 4 buildings all thanks to the community that John Warren and the Forte team have cultivated. Highly recommend stopping by!

Hi @Meryl McElwain

This is a great thread! Thanks so much for taking the time to respond to everyone.

I am new to investing and looking to build my team. Do you think it’s best to start by finding a general contractor who has the subs already in place? Or is it best to find each sub separately?

In addition, what is the best process for finding the right contractors?

I have been hearing from numerous investors that the Chicago area is running into a shortage of skilled contractors which is causing projects to be more expensive than people estimate.

Thanks!

Nate

Great! Thanks for the input. I just finished the book and working on implementing it into my system!

Hi Elizabeth - I did account for homeowners insurance in the analysis. The loan numbers are not solid, as I am using this as a tool to determine areas that can cash flow.

Hi Michael - I accounted for Cap ex (5%) Vacancy (8%) Property Management (8%) and Repairs (5%).

I agree the CoC is poor, however I am using this model to determine if the BRRRR method will work. I am going to attempt to use the BRRRR calculator, but it is more difficult since I am not good at estimating rehab work at the moment.

Good Evening,

I analyzed a property on the biggerpockets calculator. This is my first property I am analyzing, but I plan on doing many more in the coming weeks. Below is the link. It is showing around $200 in cash flow, but since this is my first real analysis I want to check to see if I am missing anything. Appreciate any guidance anyone can provide!

BiggerPockets Report

Hello BiggerPockets Forums!

I currently live in the suburbs of Chicago, and have a mortgage on my house. I am looking into ways to purchase real estate with little money down.

I work downtown, and it is a 1.5 hour commute into the city. I would love to use an FHA loan to purchase a 4-flat that I can live in during part of the week and then commute home on the weekend to be with my wife. (My wife refuses to go back to apartment living and we are expecting so it is out of the question to move to the city permanently)

I am concerned that this will not qualify as a primary residence since I won't be spending more than 50% of my time in that residence. I do not want to do anything that can get me in trouble for mortgage fraud. I think it's a long shot, but was wondering if there was a way that I could use an FHA loan for a downtown 4-flat. Appreciate any guidance!

Thanks,

Nate