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All Forum Posts by: Scot Howat

Scot Howat has started 15 posts and replied 416 times.

Post: How much negative cashflow is tolerable?

Scot HowatPosted
  • Investor
  • Hoffman Estates, IL
  • Posts 434
  • Votes 185

Would you put $300, $500, or $1,000/m into a savings account?  If so, then why wouldn't you buy a negative cash flow property.  It's very similar, except that owning the assets will have tons of other benefits.

Post: Looking for a mentor

Scot HowatPosted
  • Investor
  • Hoffman Estates, IL
  • Posts 434
  • Votes 185

You can get 10 loans and your girlfriend can get 10 loans, I'd recommend NOT buying them jointly.

Post: Is Illinois good, bad or average for investing?

Scot HowatPosted
  • Investor
  • Hoffman Estates, IL
  • Posts 434
  • Votes 185

There's deals everywhere, you just have to learn the market and find your niche.

Post: Best areas for investors in Northwest suburbs Illinois

Scot HowatPosted
  • Investor
  • Hoffman Estates, IL
  • Posts 434
  • Votes 185

My advice - don't wholesale.  Buy some units and hold them.

Post: Small loans - who lends on property under 100K?

Scot HowatPosted
  • Investor
  • Hoffman Estates, IL
  • Posts 434
  • Votes 185

I run into this issue constantly. The other caveat is that the banks want the value of the property to be at least 100k. Which doesn't work for my market either. Any lenders that can do this (in S Corp)? 75% LTV on a 90k property

Post: When someone asks you to add 48 + 27, what happens in your head?

Scot HowatPosted
  • Investor
  • Hoffman Estates, IL
  • Posts 434
  • Votes 185

60 + 15. or I'll take 2 from the 27 and give it to the 48, then add the 50 to the 25

Post: How to run a Turn-Key Business and invest out of state

Scot HowatPosted
  • Investor
  • Hoffman Estates, IL
  • Posts 434
  • Votes 185

where's the registration info?

Post: Virtual REI meetings Chicago

Scot HowatPosted
  • Investor
  • Hoffman Estates, IL
  • Posts 434
  • Votes 185

CAREIA.org has 2 per month, plus they play the Cashflow boardgame online too

Post: Newbie from NW Suburbs looking to Network

Scot HowatPosted
  • Investor
  • Hoffman Estates, IL
  • Posts 434
  • Votes 185

@Susie Wendel let me know if you'd like my 2 cents.  I can stop by and give you some pointers if you need an experienced opinion.

Post: Newbie from NW Suburbs looking to Network

Scot HowatPosted
  • Investor
  • Hoffman Estates, IL
  • Posts 434
  • Votes 185

Congrats guys!  Buy some units