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All Forum Posts by: Tommy Calkins

Tommy Calkins has started 7 posts and replied 13 times.

Post: Turning single family into a duplex?

Tommy CalkinsPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 19
  • Votes 11

@Aaron K. Thanks man!

Post: Turning single family into a duplex?

Tommy CalkinsPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 19
  • Votes 11

Is it complicated to get the zoning approved by the city to turn a single-family into a duplex? Does anyone know where I would have to look online to do some research on this. Sorry I’m really new and don’t know much.

Post: The Brrrr strategy ?

Tommy CalkinsPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 19
  • Votes 11

Stupid question I’m sure but I’m really curious if you can do the brrrr strategy using a 20% down loan? Would I be able to get a bank to finance a property like that? Or is brrrr strictly cash?

Post: Is turning a single family into a duplex a good idea?

Tommy CalkinsPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 19
  • Votes 11

@Derek Dombeck thanks Derek! I need to do more research on what the numbers would look like. I’m glad that this is possible of the numbers work

Post: Is turning a single family into a duplex a good idea?

Tommy CalkinsPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 19
  • Votes 11

I forgot to mention after I’d like to refinance out of loan and try to get most of the money I put into the deal out. I was also wondering if that would be possible

Post: Is turning a single family into a duplex a good idea?

Tommy CalkinsPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 19
  • Votes 11

Hey guys! So was thinking about getting a single family home that has room to either dormer out the roof for 2nd unit upstairs or add an addition to make it a duplex if the zoning is approved and it seems I can make it happen. Any advice or ideas? Also I was planning on getting a FHA loan for this property I wonder if that plays a part in if I can do something like that..? Thanks! -Tom Calkins

Post: How to find out if the area you want to invest in is a good area

Tommy CalkinsPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 19
  • Votes 11

@Melissa Jolley thanks so much!:)

Post: How to find out if the area you want to invest in is a good area

Tommy CalkinsPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 19
  • Votes 11

Hey guys I was wondering if you have any websites or apps I can use to type in ZIP Codes and see if the area I’m looking at is good or bad. I remember Branden saying on a podcast a website and I just can’t seem find that podcast so I figured I’d post on here and see if you guys could give me some help. it’s very important to me that when I buy my first property it’s in a area Where I’ll be able to attract good tenants. Thanks! -Tom Calkins

Post: Why I keep seeing “no FHA”

Tommy CalkinsPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 19
  • Votes 11

Hey guys. I'm on Realtor.com looking at properties and I've come across a lot of properties that in the description say "no FHA" and I'm just wondering if anyone knows why that is. Wouldn't the seller be getting the same amount of money either way

Post: Any advice for someone starting off in chicago??

Tommy CalkinsPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 19
  • Votes 11

@Crystal Smith Thanks so much for the advice!