Hi -  We are under contract on our first buy and hold that we have been able to find that has decent numbers...Would appreciate any reaction or input anyone has to this deal...good/bad/bad assumptions etc.Location - 63rd and Halsted (very close to the new whole foods developmentProperty - Grey stone with 2 units (3 bed/1 bath) unfinished basement with laundy and 2 car garage.  

At this point, these funds might be used to buy supplies, help with food and temporary accommodation.Please donate and help to support our community.

@Patrick Hill I think the marketing package or whatever you're looking at is suggesting the NOI is about $11k/month and then using their finance assumptions for a new loan that would be a payment of around $8k/month leaving you cashflow of $3k/month.

A "portfolio loan" is a loan which is serviced by the lender who issued the funds (i.e. held in their portfolio), rather than being packaged together with other loans and sold on the secondary market.

The new company will have some time to on board the new property, send a welcome package to the resident, and avoid rent payments going to the wrong company.  

Just some food for thought.

No, because they have cable to pay, they have electric to pay, food to eat, going out to do, purses to buy.

Then they are taking food out of my family's mouth and I will do everything in my power to legally get them out ASAPThis way I don't have to worry about violating the amount allowed for late feesIn reality the rent really is only 1050 so if they pay late I get a bonus. 

Pretty much everyone I know in real estate regrets training packages they bought far more than any other indiscretion in their life.

These two Meetups are something I build over years of holding events, promoting, paying for venues, food, drinks, etc...