Some of our owners have accidentally thought they were handing a situation "right", and because Chicago is a very tenant friendly city, the laws tend to lean in their favor, and it can cost you a lot if you are simply just not up to date on what is proper protocol (for example, what to say, what not to say, what to have in writing, and what not to put in writing, etc)... can be worth the management fees.

If you want less leverage simply put down the funds you would use to pay down the 6.4% rate on the new property so you are at say 60% loan to value on the new house.

There are always opportunity on the MLS....properties that are listed/categorized incorrectly....properties that rely on public record square footage that is not accurate but the broker is too lazy to verify and simply relies on the autofill data, properties that have base zoning that allows for a better use, properties with unique characteristics that are not properly detailed in the marketing information, properties that are simply listed over priced and become stale and are good negotiation opportunities. 

Let them know how much you enjoy living in the home and mention that you’re planning to buy your own property in 2025.

Enjoy making your dog **** 3% commissions while I make $10k, $20k, $30k for 2-3 hours of work! 

I have heard from people who enjoy learning from him.

I enjoy woodworking and epoxy projects. 

It also covers your legal fees simply to defend a bogus lawsuit. 1 million is standard for each of my properties.

Far more costly to transfer property at a later point than simply purchase in an LLC on day one.

I enjoy the book - it gives a great overview of the STR world and specific details on how to get started.