All Forum Posts by: Taylor Kamal

Jeremy makes great points.

You also have to remember that velocity kicks in. 1st property @ 20% seems daunting, but if you're cash flowing 200-400 a month, that will help considerably with your 2nd property's down payment. The 3rd will be even easier w/cash flow from 1st & 2nd... and it'll snowball from there. 

This has aleady been covered in the above post, but seriously have a look at the comps. Not only that, take a look at "days on market" and sold listings over the last 6 to 12 months. I recently turned down a 21K buy & hold that was generating $800 a month in rent. At first glance, it looked amazing. However, after considering taxes (double yours), insurance, vacancy, then income tax on the remainder .. The cheap buy didn't look that enticing. So I walked away. Take your own personal situation under consideration. For me, I was one major repair away from losing A years worth of rental income. If the fix is only 10k, a flip sounds like a much better deal. That's if you know without a doubt you could get the 60-65k ARV.

Hi I'm always looking for Chicago area properties. You should offer to put people on your mailing list in Craigslist posts. It'll go very quickly. I'm on quite a few wholesaler mailing lists in Chicagoland. It's an efficient way to get your properties out to potential buyers.

Sounds like you're calculating "Gross Worth" there 😜

Great post .. Thank you! Saved me some $$ with #1

Welcome Ralph! Great opportunities to be had in SW burbs!