All Forum Posts by: Lakshmi Nikitha Duggirala

@Leslie Voegtlin What is NREIG? My quote was from State Farm

@Jason Bott

The quote is for $10,000 in sewer and drain backup and w$500k in liability and $5k in medical coverage with the replacement cost to rebuild at $696,400 for a $300k property. The quote also includes 25% extension of dwelling, as well as personal property at replacement cost.

Is that a good price? 

@Syed Lateef Thanks for the reference!

Does anyone know how much property insurance costs annually or monthly in the Chicago area for a multi-unit building? I'm getting a quote that comes out to $200 a month in property insurance for a legal 4-unit in McKinley Park. 

Has anyone gotten a cheaper quote or know what the average range I should expect? 

Thanks, 

Niki

Hi, can anyone recommend a reliable Contractor in the Chicago area or in the Northwestern Suburbs of Illinois (Schaumburg/Palatine area)? Thanks! 

Hi all, I'm a newbie investor trying to educate myself, expand my network and form my real estate team. 

On that note, if anyone could give advice on the below, I would really appreciate it! 

1. Contacts in the Chicagoland area or Northwest Suburbs of Illinois: 

A. Contractors experienced and reliable for rehabs

B. Real Estate Agents that can cater to Investors (I keep coming across agents who are sending me properties whose numbers just don't work for BRRR, rental, fix & flip or anything; they're more catered for homebuyers)

C. Lawyer or resources to help with a wholesale contract, rehab contract, etc. 

D. Property Management Companies/Individual Managers

E. Mortgage Bankers 

F. Any other key individuals/contacts needed to form a solid real estate team to begin my first deal 

2. Are there any Facebook or other groups that would be good to follow to network and go to events for. For example, I joined the Chicago Area REIA group on Facebook and they hold monthly events.

A. Upcoming events that any of you find useful and are attending

3. Tips/advice on how to begin structuring/finding your first deal (looking at BRRRs currently) and the pitfalls to avoid or any general tips on how to get started on your first deal ever and things to watch out for

4. Any other advice at all for a newbie who is looking to start her first deal! 

Thank you all so much! 

Niki

@Mindy Jensen I appreciate it, thank you! 

@Mindy Jensen @Scott Trench Hi, I’ve been sending the same message to multiple people hoping to connect to new members. The message states that I’m a newbie in the process of educating myself and trying to network. 

@Jon Holdman thanks! 

I have one week ago and few days ago and I haven’t received a response. Any idea how many days i should give it? 

@Brandon Turner and @Joshua Dorkin Hi, I'm having issues with my BiggerPockets account. It won't let me use the messaging system and says I've been blocked. It's been 5 days since this issue occured. I'm a PRO member able to use everything else but I can't Connect to people or message anyone. 

@Eric Loya It's amazing that you worked out such a deal when you were 20! How did you go about finding this equity partner and any tips on negotiating tactics and how to form such a contract (did you hire a lawyer for this)?

@Shawn Ward Apologies if this is a dumb question. What do you mean by 10% return? What would you be guaranteeing in the contract that way?