All Forum Posts by: Sibbir Noman

@Julian L.  Where is the 4-plex?  Is there a reason why you are putting 50% down?  I would try to lower the downpayment so you can invest in additional properties in the future.  

@Account Closed 

Rent price didn't go down much (if any) during the last housing burst.  I like your approach of buying properties for the cash flow return.  Are you looking in the city or suburbs?  I could never mind anything in Chicago downtown that had decent cashflow but in the suburbs it completely different story.

@Joshua Curtis  I have properties in Glen Allen, Midlothian and West End areas.  From cash flow prospective I like Midlothian and West End.  I don't know Chester too well.

@Daniel Harnsberger  Thanks for the feedback Dan!  

@Joshua Curtis

Hi Joshua - welcome to the site.  I'm a local investor in Richmond, let me know if you have any questions.  I'm happy to help.

What @Drew Vukov said is correct.

@Chris M.

Hi Chris - congrats on the new addition!  Have you talked to any banks to see what they will approve?  If you have good credit and if they count your rent as income then you might be fine.

@Pat Parrillo

Hi Pat - Welcome to the site!  I'm sure others on the site will disagree but buying properties away from where you live can be very complicated and difficult.  I own properties in Chicago burbs when I bought them when I used to live there.  I wouldn't look to buy in a new city that I don't know personally.  There are cities where a few block can make a huge difference as far as neighborhood goes.  Also, it's much easier to initially manage when your properties are close by.  Just my 2 cents.

@Bryan Glaser 

Hi Bryan - If your dad can be your handyman then I'm not sure if you even need him to play the property manager role.  These day you can do advertising, screening, collecting rent online. 

@Gary Clark Congrats! which part of Chicago do you invest in?

@Ryan Dossey  Congrats! You are doing great!