All Forum Posts by: Chase Spitzer

I am staring at a lot of maps and going through a lot of data. I think it is just a little overwhelming.

I will try to make this short and easy. In simpler terms I can buy houses in my central illinois area in "okay" neighborhoods for 20-55k and rent ranging from 400-800 a month.

I work in Los Angeles, and I am tired of both areas. I would like to work towards finding an area to invest where I can buy home homes in that 50K and under range for buy and holds.

Prefer a 100K or higher population as I do enjoy having some entertainment and activities.

I have been googling and looking around quite a bit to get ideas.

I know this is vague, but it is the beginning of a long search. Leaving small town IL for Los Angeles has been a big change. I own 6 properties and do not want to continue growing here.

Thanks,

Chase

Makes perfect sense gentlemen.

I got involved in the motion picture industry and soon learned my passion was going to take my life. It would take my family time, my ability to plan, etc.

So I work in the industry, but use this time as a way to fund my investments. I do not want to do this forever though.

Thanks to everyone for the insight. I will be knocking out more of these books during my holiday flights.

found a deal today after an investor fell ill.

If the termite inspection goes well I will be grabbing another investment property and closing on my own home Tuesday.

Which will be my temporary living and flipped into an investment after 12 months.

Thank you to all.

It is really reassuring that my thought process aligns with many others.

Closing on another property Tuesday and still have money to put down payments on another.

Thanks again for the positive thoughts.

I will try to do this in cliffs. I live in a very inexpensive blue collar town and travel for work.

Current income 40-50k per year.

In one year I have properties netting $1000 a month

I have a down payment for one-two more ready.

I was thinking of quitting my job and becoming a radiology tech. Simply for Job Security and better benefits. After studying for the last month I have decided against it. I really do not see myself doing a job like that, which is why i did not attend college in the first place.

I am 25... in 3 years I will go to school full time and use a part time job and my rental income to survive.

OR I keep working my day job and invest that, plus my income from the rental properties.

The way I see it, in 3 years I will have several more cheap homes with 2500-3000 net income per month, plus a day job that I like or tolerate.

To me I would regret not staying on track with my investments more than I would regret not going school.

Anyone else done the same? Most do not understand my thought process.

Thanks,

Chase

I live out of state and my father manages my properties in Illinois.

Can he go to small claims court for me?

It is roughly $125 to file, I have the tenants new address, there is $300 in unpaid water bills, and property damage. They did not pay last months rent and just moved out forfeiting the deposit.

Thanks,

Chase

If I could find a duplex or quad in my area I would happily jump on it.

Very very blue collar/farming community I am in.

Thank you EVERYONE for their time and input. There is no real right answer for my own personal goals and situation I guess. Just looking for perspectives to help make a decision.

Once again I have appreciated everyones input.

@Troy Fisher My area must be much different than yours. Housing is very inexpensive in our town. My 50k house is 1000sqft 3bd / 1bth on a desireable end of town. Not fancy, but nice area. Easily financed.

Even 30k houses are easily financed in decent shape.

Decatur, IL.

@Michaela G. is correct I only have 7k to use for a down payment right now. So I can could buy another cheap house if I wanted sooner.

All in all it is sacrificing time, or sacrificing quality. I was telling myself my goal was to buy 50-60k houses once a year or so. With deciding to make a career change next year I am thinking I should concentrate on the shorter term cash flow in order to make it through school.