All Forum Posts by: Taylor Wisnewski

 Thanks Alex. I did think about the liability aspect first and foremost and plan to talk to my agent about it if I get serious about advertising it. You're right about the safety aspect too because I would imagine I would need to allow them access to a bathroom. You make a good point about people coming into the house and maybe "assessing" the house to see what could be stolen or broken into later. I honestly don't use the pool much, so I figured it might be a decent idea if I have to pay for heating it and the chemicals and everything anyways. Maybe I'll try it out with some local mom groups. Thanks for your input!

As an investor, rentals are always on my mind. I live in a single family home with a large backyard and a large above ground pool with a deck. With summer coming, I had the thought of renting out my pool to people who want to have a pool party for their child or something like that. Has anyone does this before? Pros/cons?

What are the best cities/neighborhoods for finding multi family properties about $200-$250K that are in good condition and cash flow with today's numbers? I'm located in the Chicago suburbs and the only properties I've been able to find like this are in not-so-great neighborhoods. My goal for 2023 is to acquire 2 multi family properties (2-3 units each) that cash flow $700-$1,000 each after PITI and management fees. It would be great to find 2 in the same or close neighborhoods. I'm okay with some minor repairs right off the bat, but I don't want to have to do kitchen and bath remodels to get them rented.

I've seen others suggest Memphis, Kissimmee, Indianapolis, and Columbus. I do see some good options here that I'm looking into, but does anyones have specific neighborhoods or counties they would suggest? Online research only goes so far and I'd like to hear from others who are actually invested or work in these areas. Maybe some up and coming neighborhoods that don't have great stats at the moment. 

Thank you everyone for your input! DSCR is looking like the best option :)

I currently own 3 rental properties (1 free and clear), in addition to a primary residence and secondary residence. The three rental properties were purchased in my name and then deeded into the LLC that I use for my rentals after the transaction was completed. All the rental properties have a positive cashflow of at least $500/month.

On a somewhat unrelated note, I recently left my W2 job as it just wasn't the best fit for me. I still own 20% of the business I left, but I am not an active employee. As I consider changing career paths, I'm liking the idea of making real estate investing my full time job.

I estimate that there is about $800,000 equity between the 5 properties. I'm trying to determine the best way to go about getting some of that cash out for the next deal. A HELOC on the home that has the most equity in it sounds like it might be a good option. The bank I work with most often also suggested a commercial loan using 1 or 2 of the properties as collateral (although they said "they're not doing much of that type of lending for real estate right now").

Since my debt to income ratio is now thrown off, I'm thinking raising cash from private lenders might be best right now but I hate to see all of the equity sit there. Any suggestions here?

Thanks in advance!