All Forum Posts by: Account Closed

One thing that helped me early was building my own spreadsheet/model to understand what my IRR/NPV/Cash-on-Cash/and cash flow were projected to be. It's one thing to use a calculator and another to build one.

On that note, accounting for your alternative (renting out a 1-br apt) in these projections would give you a truer ROI. In the corridor you are considering you will find those for anywhere from $1000-$1800 depending on exact location, quality, and size.

I just purchased my first property (a 4-plex). What did I learn, you ask? Don't let the list price deter you. Get a great agent who knows the neighborhood and what things are worth therein. I am doing far better than I thought was possible in Chicago from an ROI perspective.

"You Miss 100% Of the Shots You Don't Take. -Wayne Gretzky'' -Michael Scott