All Forum Posts by: Nikki Kofkin

@Mark Shelstad thanks so much, same to you!

Hey everyone! BP never ceases to impress, so I'm hoping someone out there could recommend some contractors for flips who work in the city and also the north/northwest suburbs. This has been the biggest struggle for me recently. Thanks in advance!

I'll definitely be there! Can't wait, see you all next week!

Awesome event tonight everyone, loved sharing and learning with you all! Can't wait for the next one!

@Account Closed you've had so many replies but I figured I would add my two cents as well! If you are trying to raise capital right now, I wouldn't put money in stocks. Stocks are usually an okay long term investment. I think everyone else gave some really solid advice. Educate yourself as much as you can and start saving your money now! 

I should be there, looking forward to it!

Hey everyone! I wanted to give a final update to @Melissa Rios and anyone else who was interested on my judicial sale property. Here's the breakdown:

Purchased with cash: $167,000

Title closing fees: $2,107

Misc expenses (paint, cleaning, repairs): ~$2,000

Credit to my condo account from association rent: ~$1500 (This was an amazing surprise)

Monthly interest: $166.67 (Nice perk of a family investor!)

18 month lease for $1750

HOA dues are $205 (However this will be debited from the surplus in my account for about seven months!)

2015 taxes were $3225

Estimated ARV: $235,000

So I'm all in at about $169,600 with monthly gross operating income of $1750 and annual gross income of $21,000. I might sell it in 18 months when the lease is up and the market is hot in hopes of getting a $65k profit, or I will continue to hold it for the rental income! I'm super happy with the way this went, hopefully it wasn't just beginners luck!

@Brie Schmidt Thank you, I didn't think about mentioning my own investing experience haha! I will definitely work that in. Much appreciated Brie!

Hey everyone! I'm hosting a house hacking seminar in a few weeks for prospective buyers interested in multi unit buildings who want to live in one unit and rent out the others. I already have the maximum number of attendees which is awesome, however I've never hosted a seminar before so I'm anxious about my presentation! I would love suggestions about what to cover and in what order, especially if anyone has held one before. I will have a loan officer who will go over financing, so I'm trying to help suggest what he should focus on as well. I would love any advice to help settle my nerves, thanks everyone! Here are some rough ideas I have:

-What is house hacking

-Renting vs investing

-Two, three, or four units

-Financing options

-Rehabbing

-Advantages of owning (tax breaks, appreciation)

-Short sales/REOs?

@Demetrius Davis This would be my first flip, so I might not be the best person to answer that question, however looking at the whole picture I felt very confident with the numbers. After I sent that message yesterday I was bummed to find out there were 16 owner occupy offers, and investors aren't allowed to make an offer for 4 more days...I'll make a very strong backup offer though. I still think the deals are out there, it's just harder to find them and get them.