All Forum Posts by: Will Tse

@Hassan Abidi

I’m in chicago . Call me tomorrow 773-2205378

@Greg Scott it sucks !

Just hope You have good tenants and not It over leveraged with debt portfolio. We 8 houses paid off and have only 2 with a debt service . So if some tenants don’t pay .. you have other tenants in properties to balance it out .

Just have to do “cash for keys” to get them out or wait till sept and see what happens . Unless you can someway have negotiable deal with them on partial rent as a meet in the middle situation till sept

Will Tse

Chicago RE Invester

6 out of 8 paid , the one is always late but always Paul are fees on top of it. ( she is laid off . Co owns a day care ). I have a mortgage of 1,200.00 /m on it

The other one is 1050.00 /m and own it free and clear, she typical pays on the 5th . We shall see. Waiting on call back or online payment . Will call today

The other 6 paid on time or early actually (all those are free and clear ).

Just bought a beach house 3months ago amd was going to Try amd do ABB but decide to shelter me and family here for the time this passes hopefully. Piti is 1,200.00/month

We shall see what happens as this pandemic stalls everyone in the up coming months .

@Rob B.

I dont do the rehab . I project manage . I have have a bunch of subs to do the work .

I don’t think this is in the better part of Chicago hts but it’s not the worst part of it . If you know or how ?do you look that up on Redfin or trulia . ?

I have more than a handful of rental properties in Lansing ,calumet city. Matteson . Working on a flip in oaklawn . Pilll hill area ,Washington heights ,at the same time . Chicago heights It's 8miles away from where cal city is . I live in wicker park so it's about one hours either way, a little further than I wanted but I bid on 7 houses at-a Time and just figure why not for a low price to help building ROI /passive income based strategy. Or should I quick sale it for 40k as is and run away ? Lol

@Mark Ainley

228 WALTHAM ST calumet city

@Brent Mattison ,

Hey what’s up ?. I’m a local investor and about to close on a property in the area. . What’s your number so I can call and speak to you for 10min of your time

@Timothy Riley

I’m about to close on a property in chicago hts . 26k 2/1 1,200 sq ft . Can probably make it a 3/1 .

I know the look on SPECHT is a pretty strict and I know they require a lot compared to other villages. What are your thoughts on today’s market in 2019 for Chicago Heights?

@Justin Reyes

Yes it's a good way to do it . You can "Borrow " against it . But dude maybe 30% of it and some do your own cash if possible . And the BRRR it . Unless you have no other choose but to use all 30k but pay it back after you BRRR it

Hello all !. I’m a local investor in chicago , long time listener , I’m looking for help regarding which debt service will provide my with BURRR request .

I was just shot down by first Midwest bank . I thought that they were a smaller bank that it would be a slam dunk . They just told me that my debt to income was too high. 43% , where as it should be at 70% . I was aware that it mattered with burrr .

So I have :

-5/6 rental house owned free and clear , one has 114k debt service with a lot of equity., worth 458k

And aside from that I have a primary house I live in . Month monthly mortgage is close to 3k , but that includes my RE taxes. (So not sure if that affected anything ). That’s my greatest debt . I have good credit 700 plus . So I’m lost and baffled that I didn’t get to BURRR it .

I have a property I bought 8 months ago & it's rented for 7months now . Bought it for 63k amd out 11k into ARV is 110-117k . This is the property that I'm trying to BURRR .

The other were all bought after the property above . So I figured I used the house I bought 8months ago to burrr it . But was rejected .

I’m running out of cash , but still have a business like do 130k. Some residual cash (prefer not to use any more of my own money or at least minimal), trying to scale up . With more rentals and would like to leverage out . And trying to do flips as well.

Any help /advice /recommendations on which banks and /or how to go about this , credit union /smaller bank etc

Will tse

Your local friendly wannabe realestate investor .