All Forum Posts by: Zach Gring

Hey Scott, I would love to connect. I have some rentals up and down the Fox River as well. Are you looking to take on any more in 2025?

I could definetly be down for that! We haven't booked yet, will most likely come in a day or two early.

Lots to unpack here; Insurance quotes I have seen for myself (33 years old, healthy man, single) was high 300's for a decent policy. Catastrophic only coverage was 40/month. Taxes... Talk to a cpa in your state. Security, keep your resume updated, keep your sense of employment work ethic and skills or associated licenses, certifications in case you want or need to go back into the job market. Emergency life situations I would keep a 15-20k credit card empty or LOC, with a payment you have already factored in to your monthly budget.

Factors on reserves; What's your monthly cashflow / how much do you need to live? For my own sake I wouldn't be comfortable walking away without at least 20-30k in personal liquidity in a 4-5% credit union acct. If you have a $1,500 or more spread between cash flow and living expenses, I would consider saving the rest to add to a cushion. 

LLC s selection I believe makes it a pass through entity meaning once tax return however I would run this by an attorney or your cpa as I am neither.

Full disclosure I am in the Midwest so if you're market is drastically more or less cost of living this may vary for you numbers wise. 

Yes, at least out here in Illinois you can. Your brokerage would have to allow it as well, would most likely be outlined in your independent contractor agreement. 

If you're considering a PM, the responsive ones, the ones that treat your investment like their own, the ones that communicate on all items pertaining to your investment with the utmost amount of transparency, only one company, name comes to mind. @Mark Ainley and his team at GC Realty & Development. Check them out!

Honestly to me from the sounds of it, you are over leveraged and under on reserves. I have a portfolio of single families as well; I typically hold 6 months of PITI per property in liquidity.

Everyone is going to have a different "sleep factor" number. least this is what I call it, how much do you need to sleep well?

You could possibly look for an agent to help you on a 1031 as well, get out from underneath the blanket mortgage, you could net a little higher going this route with the plan in place to exchange into something with higher returns. 

Hope some of this helped. 

@Eric Magat With that amount of equity you could look at what a HELOC could do for you. It should give you the ability to purchase a property and rehab it with a cash out on the backside. However right now I stopped doing these due to where Loan to value positions is at and interest rates are at with cash outs right now, It will be next to impossible to get a single family to cash flow after the cash out. There are other options I have been selling to my investors right now that are putting out nominal cash on cash returns but are putting out high teens for a IRR (internal rate of return). Matter of fact with a HELOC you should be able to access 175-190k of those funds at around 6% with doing that the singles I have been selling are getting 16-19% total returns.

@Tralecia K Young

Talk to your lawyer, he should be there as your advocate that’s his job. From one realtor to another that’s a bad move to recommend inspection waiving. There’s other ways to make a strong offer, without that. As well you should have a final walk through to inspect nothing has changed since initial walk through, a roof collapsing would be a change

@Tyler Dunlap

1. Read your pm agreement thoroughly.

2. Always request three quotes for repairs over 200.00

3. A good PM is hard to find, lick your wounds and move on.

If around Chicagoland contact @Mark Ainley for pm, he’s one of the best around and built his reputation upon integrity. Reach out to him even if not around Chicagoland he probably knows someone who could help.

@Ryan Monty

Depending on where you’re looking I have a GC that will walk a property and come up with a range for rehab cost for $295 per house or if you have a few in the same area he cuts down the price. I’m an agent and investor myself as well so, if you need help with anything feel free to reach out.