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All Forum Posts by: Account Closed

Account Closed has started 2 posts and replied 16 times.

Post: Using my 401k for seed capital

Account ClosedPosted
  • Chicago, IL
  • Posts 24
  • Votes 16

I focus primarily on filling my Australian based superannuation fund, as it's self managed. I have drawn on my 401k before for REI purposes, and it has worked fine in the past, though it's money you should be replacing with the sale of your investment.

Post: Seed Capital Success Stories

Account ClosedPosted
  • Chicago, IL
  • Posts 24
  • Votes 16

I believe the market is as difficult as it has always been, with the added benefit of high levels of inflation and rising living expenses, and a national debt that has reached unbelievable levels so government benefits are less likely to be forthcoming. Just my thoughts.

Post: Seed capital closing time concerns

Account ClosedPosted
  • Chicago, IL
  • Posts 24
  • Votes 16

I have used the same Real Estate lawyer for a great many years. He always managed to clear the paperwork sooner than I would think possible. Just as necessary as having a great foreman, is having the services of a great lawyer!

Post: Chicago REI - Boon Zones

Account ClosedPosted
  • Chicago, IL
  • Posts 24
  • Votes 16

I am always on the lookout for neighbourhoods in the Chicago area with great long term potential. I want to acquire a few units for speculation to pass on to my children when I eventually kick the bucket. 

Are you, biggerpockets Chicagoans, aware of any neighbourhoods that you believe will appreciate more than others? And for what reasons do you believe they will appreciate?

Post: Multi-Family Unit renovations - most worthwhile improvements?

Account ClosedPosted
  • Chicago, IL
  • Posts 24
  • Votes 16

Hello, when remodeling a multi-family unit,what renovations lend the most value to the sale price? I have completed several profitable sales in the past, but am always looking to improve the bottom line.

Post: Beginner Real Estate Investing

Account ClosedPosted
  • Chicago, IL
  • Posts 24
  • Votes 16

Hello Dante, I am new to Biggerpockets so I hope that this reply is received in good will. I recommend seeking alternative forms of financing. A grant may be hard to swing in your name, but should be fine on the LLC. You may want to look into credit card financing, that is sometimes the only viable option for an individual who can't secure a conventional loan. Best of luck, and it's good to hear that your financial situation is improving.