All Forum Posts by: Sahil Relan

I have a camera on one of my buildings on the northside of Chicago and I honestly just use the tenant's internet. Maybe it's a problem and I didn't even know it.

Thing is what if the tenant leaves. Single point of failure :)

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Hi All,

Would like to hear from fellow investors about some security camera systems they use in Chicago. Problem is that I cant use tenants internet for the system. I ideally want to put 3-4 cameras covering the exterior of the property.

What are some of the solutions do other investors use?

My property is in South Shore Chicago.

As always, appreciate the responses.

1 Vote

Thanks Jonathan, thanks for the warning. Just amazes me how people go from 0-18-20 units in an year or two, while it took me 7-8 months to get a duplex finished.

Originally posted by @Jonathan Greene:

Accelerating growth often fails because of short-term goals. It seems like you've done well so far and in a timely manner, why are you wanting to rush the next phase. You always want to tighten up your current investments so you know you can rely on that cash flow and then look into the next one. It's like being a kid and asking how to get taller, quicker, and then hanging on a bar all day. Some things are just natural occurrences, but in real estate it's about the relationships you are building and the connections you make as to when your growth comes. If you rush it or try to go 0-60 in 3 seconds, your battery will die.

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Thanks for the perspective, goal is to replace full-time job income for sure. I am thinking forward 4-5 months. Not jumping right into it till current project is finished and rented.

Originally posted by @John Warren:

@Sahil Relan congrats on your success thus far. I would look at your why very carefully. You have a solid career and good credit, which means you have an excellent platform to invest. Why do you need another deal so quickly? How many deals do you need to reach your goal? Is this about job replacement or is this long term wealth creation?

The buying real estate part is actually easier than most people realize. Making sure your real estate is helping you accomplish your long term goals is the real test.

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@Justin G. Never looked into Indianapolis market, still of the mindset that I want the property to be close. DM me if you find something interesting and want to partner on! Although, I won’t be ready to invest for next 2-3 months.

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Hi Team,

Some background: This year bought my first investment property(duplex) in Chicago suburbs. It all went well, its rented and cash-flowing now. The numbers are good and no concerns so far. Bought second property(primary residence 203k duplex chicago): the renovations are in progress. Also, have a 6fig job and good credit.

My question is how to accelerate the growth. I will re-fi my investment home and expect to get back about 25k. Can have about 10-15k more of my own. How to get a bigger property? Should I do a fixer-upper 6-unit with hard money and try to BRRR it? I saw some private lenders offering 90% funding of purchase and 100% rehab costs. Is such a deal leveraging too much?

Appreciate your answers

Thanks

Santi

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@Michael Peters thanks, reply much appreciated!

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Hi All,

I am about to purchase a 2-unit property in Chicago for 100k. It is an REO so I am not getting good responses from the seller. Here is my concern:

The property is already rented.

a. The seller says one of the unit is occupied by tenants who get CHA assistance for 75% of the rent.

b. The second unit is cash MTM tenant. I am worried that the second tenant might not be paying etc and I dont want to deal with eviction since it will be my first RE investment.

What do you suggest from your experience that I should do?

I am still in the 5-day period for the contract. What can I ask from the seller like receipts for rent paid etc?

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@Nicholas Covington Thanks, good point Nicholas!

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All Forum Posts by: Sahil Relan

Sahil Relan has started 7 posts and replied 21 times.

Post: Chicago: Security Camera Systems

Post: Chicago: Security Camera Systems

Post: Chicago: Security Camera Systems

Post: How to accelerate growth?

Post: How to accelerate growth?

Post: How to accelerate growth?

Post: How to accelerate growth?

Post: Inheriting Tenants, Help Needed

Post: Inheriting Tenants, Help Needed

Post: Interest Rate/Closing costs on first property