All Forum Posts by: Siraj Ahmed

@Marty Rini awesome job on the flip and the profit! 

Was there a reason that you added those bricks on the bedroom wall behind the TV or was that just a design element?

Hi @Cezar D. Sandu. Thank you for offering that valuable advice. I am looking for positive cash flow every month and the HOAs around 150-250 a month for a 1 BR. Anything more, and you are not positive CF

@Gene Livingston thank you for this information. I just quickly searched 3 areas, Brookehaven, Richland and Irving. Seems like Brookhaven is very  expensive, around 150k for condos. 

However, the condos in Richland are cheaper but are these safe areas? How much would rents be for a typical one bedroom?

Irving seems just a bit more expensive than Richland. Is this a better area. But from your comment above, it sounds like its ugly lol. Does that mean people dont want to live there? Whats typical 1 Bedroom rent?

Hi fellow BP members!

I am visiting Dallas area soon for leisure but i would like to make use of this trip for business purposes as well to ask you guys what area(s) in Austin or Dallas/FW are worth looking into? I am looking for MF buildings, condos, apartments, and townhouses for buy and hold. I am looking for B to B- properties. 

What towns or subdivisions do you invest in?

@Rachel GillWOW! what a transformation! i like the minor details including the light fixtures and the kitchen/dining area. 

Is this a townhouse?

@Jeffery Griggs i have been advertising it for 3 weeks now. I have gotten lots of hits and even people who have paid for credit/background checks but have ended up finding other apartments/condos in the meantime. 

I have gotten hits from zillow, Trulia, hotpads, CL, etc.

Besides the 2 months sec deposit and last month rent, what would you require to compensate for the risk for missed CC payments?

Hi BP members, 

I am turning to everyone here for help in helping me decide if I should rent to a potential tenant or not. My condo is in a B neighborhood but due to the slow demand, I have not had a good pool of candidates here in Palatine. 

One person I got has been living in his own townhouse for the last 14 years. He bought and then went underwater on his mortgage so he has decided to foreclose on it. Due to the foreclosure, his credit is close to 600. I performed a credit/background check and had a misdemeanor charge of retail theft that he claims that he was not charged for and that it was a misunderstanding. 

He works full-time, and makes about 2.5X the rent amount. He is close to 60 years of age and is just looking for a fresh start. I had a long conversation with him and he has openly told me everything up front. 

If i require 2 months of security deposit than the ordinary one month deposit, is it a good idea to give a one year lease or due to the facts that i mentioned above, am I taking too much of a risk? 

Note: he did foreclose on his house and also stopped paying his cc payments. He is starting to improve his credit now and has 2 credit cards that he is paying off every month. 

@Stephen Hundley first of all, congrats on your success and thank you for this idea! I looked through the list of foreclosures that i found on the county website but the data related to back taxes was not in the datasbases that the county provides. 

Question is, is this information at the state or county or city level? Any idea who would have this information in Illinois?

Thanks you!

@Robert Obniski have you done other deals since these two?