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27 January 2025 | 23 replies
With people continually migrating from CA, more jobs moving here (Tesla Semitruck factory being built as I type this), I don't know how this gets solved.
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23 January 2025 | 11 replies
Keep detailed records of repairs, improvements, and rental income, and consider working with a CPA specializing in real estate to ensure you're taking full advantage of deductions and strategies like passive losses, home office deductions, or even the Qualified Business Income deduction if applicable.Good luck!
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20 January 2025 | 7 replies
I started my solo-shop last summer and looking for ways to improve!
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13 January 2025 | 30 replies
I also found that being at "market" rents it takes longer to rent therefore missing out on a month or two of income negating the ROI on improvements.
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31 January 2025 | 6 replies
Long story short, his crew blasted through the job in a few hours and the clearance test failed.
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3 February 2025 | 5 replies
You have a job that keeps you busy, but you want to start creating wealth through Real Estate.
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5 February 2025 | 7 replies
Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.
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4 February 2025 | 24 replies
@Damien Davis - I bought most of my properties when I had a W2 job.
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31 January 2025 | 2 replies
.✅ Stronger Tenant Relationships – Being involved directly allows you to build rapport with your tenants, which can lead to better communication and longer leases.Cons of Self-Managing❌ Time-Consuming – Dealing with maintenance requests, late-night emergencies, and tenant disputes can quickly become a second job.❌ Legal Risks – Chicago has strict landlord-tenant laws.
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3 February 2025 | 11 replies
Newbie investors talk about how they are going to get rentals so they can quit their job.