All Forum Posts by: Ray Jansma

Good luck with hammond. Most good buys are dried up and too investor saturated. I gave up with that town. Raised property taxes yet again recently too.

Sherief Melik I look for anything above 12%. I only hAve two properties so I'm also a beginner myself kind of but don't be reaching for properties if the numbers don't work. Too many are doing that and will regret it in a few years. But don't hesitate to make offers that will make you blush. You'd be surprised what you could find. Just takes more time and research to find the gems but there's always deals to be had. My last deal is in the 20% ROI and bought off some asset company that didn't know what they had.

You're right that most investors are paying stupid prices right now and getting minimal returns but that just means you're smarter by running your numbers correctly. That's something a lot of investors don't do and they'll end up losing those houses they paid too much for or get rid of them in a few years. I think the market correction is coming within the next year based on a number of experts sayings it's inevitable. Find deals now in the right places and make offers. Worst they can say is no. Make offers to as high as your numbers work and once it hits that number move on to the next one. You'll be surprised how cheap you can get a house for cash if you keep making offers. Cash is king right now. Without it it's tough to find deals Bc the sellers know there's a line of cash investors behind you if you don't offer cash. Look into hArd money or private lenders if you don't have your own cash.

Ed Matteson when you say inspections do you mean yearly rental inspections through the town? I have rentals in hammond and they don't have any rental inspections either which is really nice but their inspections department is brutal with code violations when you do work in their town. A less strict town would be nice. Hammond has great cash flow but everyone and their mom is an investor now so the deals are hard to come by now

I think most investors in NWI are forgetting the lake county taxes are double under investor properties. So a 1500 owner occupied house is now 3k for a rental house. It's not as great as investors think , esp anymore since everyone wants to invest in nwi driving up the prices which doesn't make them cash flow at all. I've been grinding hard with the last few properties of mine and did the rehab work myself to make very good cash flow but now looking to invest back in Illinois Bc they're becoming ghost towns and the prices are better now in the burbs than in nwi in terms of cash flow. Cook county blows for evictions but will county you can have tenants evicted within a month and for under $500.

Anyone familiar with Crete Illinois rental market and demand? Seeing if there's any interest in the area . I know the taxes are higher but looking to invest in the area. Vacancy rates, rental applicants, investor saturated, etc? Thanks!

Anyone familiar with the Lowell Indiana area and how high the rental demands are out there and what kind of rental climate is going on over there? Looking to possibly expand to the area but making sure properties aren't sitting vacant for that long to be rented when put on the market. Thanks.

Sharad M. Just curious, you're not holding the properties for rentals for the ones lately? Change in strategy, and if so why? And I agree the investor demand is really high right now and I'm seeing deals that are just BAD being scooped up at too high of prices for it to make sense for the investor . Cheap doesn't always mean it's a good deal. Hoping some of these investors learn from this soon as to stop paying market price for rentals Bc they're prob making very little to actually losing money by the time it's all said and done. I can't imagine a lot are running their numbers correctly conservatively. It's running up the prices for the sound investors. Oh well jw your thoughts. 16 in a month is a ton, that's awesome that your system is that much of a well oiled machine!!

@Jennifer T. you have to wait the 6 month seasoning period to cash out refi

The Canuck on this post clearly has not been to the rough cities like Chicago in the U.S. haha. Just don't infringe on people's rights or bring it up. To me that sounds like a lawsuit waiting to happen if you banned it and someone was attacked or hurt. Personally if you screened correctly, you'd want your tenants to be armed, especially if your property is in Burbank! Haha.