All Forum Posts by: Robert Williams

@Ricardo Gomez forgot to mention that My primary is in Joliet, so I’m sure distance is not an issue. The inspection was $450.

@Ricardo Gomez. Congratulations and I Hope I’m not too late. I called these guys to inspect my primary in 2016 before purchasing.

First Choice Inspectors, LLC

Entity License: 451.000897

9553 S. Hamilton Ave

Chicago, IL 60643 773-429-9711

www.firstchoiceinspectors.com

The inspectors name was Michael Spaargaren.

Best of luck to you!

@Charles E. Bruckman everything that @Abel Curiel just said, also coupled with the vibes. I am a musician and trying to find a mentor was and still is hell. One guy told me I was a cool cat until I opened my mouth. Apparently the way I was dissecting/processing what he was showing me was not appreciated and made me look arrogant, when all I was trying to do was take what was being given and translate it to something I could retain.

That being said, stay the course and someone will come along for the ride. If they see that they can help you, and you will listen, and not just there to be a leach, I’d say you’re golden. Best of luck to you!

@Alicia Marks getting called an **** five times in a row cold calling was about the funniest thing for me. I was like “This is not possible!” 😂😂😂 I was hoping the next one was a winner, but I was disappointed on both sides. Hasn’t changed how I do what I do and I haven’t been called one (while cold calling 😑) since.

I am curious to get others take on buying solar powered homes as investment properties. On one hand I can see it going terribly wrong if the panels are leased, but on the other of you own them outright, you deal with maintenance, and the tenant benefits from lower bills. I can imagine there is a way to own them and as a possible value add, become the utility company for your tenant.🤔🤔🤔

@Nathan G. My sentiments exactly. Look around until you find one that will suit your needs. It’s almost like finding a wife. You start dating, all is well, then just when you propose she starts to nitpick you about everything. 🚩🚩🚩 Walk away and don’t look back. There are plenty other banks that will fight for your business.

@Mark DiRenzo I’m no expert, There is also a thing called Home Equity Investment, where a lender loans you the cash in exchange for a cut of future equity. So you could utilize this for your existing property, not taking on any extra payments if it is structured properly. I found out about this from a Hard Money Lender on BP. Could totally be worth your while.

Another option which you stated, find a bank that will loan you what you need on your terms. It may be as simple as opening up a bank account at that bank, or even taking sandwiches in during lunch hour for the bankers. You’d be surprised at how far a little gesture goes.

@Dwight Cook I’ve always been a fan of gradual increases, and letting tenants know well in advance that it is going to happen. With the tenants being month to month, seems like you can advertise units becoming available at market rents and see if you get any takers. At that point you can send a notice of non renewal (check you local laws) and now you don’t even have to worry about it. I know when I was a renter, I’d get waitlisted with a deposit, and once there was an opening, I’d get a call. I’m pretty sure they were kicking the people out so they could get higher rents.

Listening to all the BP podcasts, seems like inherited tenants is a no no unless you can honestly say they take care of the property and are not a PITA. If it’s been 30 years since the unit has been rented to a new tenant, the place is probably dated and needs refreshing.

If you accounted for worst case scenario and it’s cash flow positive, buy the place then test the waters with the tenants. Keep a moral high ground and I’m sure it will work out splendidly.

@Alan Y. Seems like you care enough to to put up blinds. If they want out that bad, use that as 60 days notice to break the lease or keep him on the hook until you find a replacement tenant.

I agree that since he viewed the place he woulda known about the blinds. Maybe have a heart to heart and see what’s really going on. You may be able to come to an amicable solution.

There are some pretty great answers here in the forum. For me, it took for a family member talking to my wife with the exact same Ideas that I had to get my wife to give me the green light, but to keep her out of it. I cannot use our shared money, and she wanted nothing to do with it. Sucks right???! But after her listening to the podcasts as I drive, and hearing the conversations I have with fellow investors, she came to me and said "If you can find a multi-unit that fits these criteria (remarkable schools, big backyard, 4 bed, 2 baths...), I will be fine with house hacking". I found several places that fit the criteria, but then we were hit with the blow from doing a COVID deferment, and cannot purchase any property until making 3-consecutive payments out of deferment. So needless to say, as long as your spouse allows you to be you, and It doesn't affect how your family operates, they will eventually get on board if they see the value in it.

Yes, it can be tough when your spouse doesn't want to go along with your hair-brained schemes until someone else they trust brings them the same information. At the end of the day, when they realize you will make decisions that are best for the family, all will be well.