Our strategy is to buy and hold, benefit from the positive monthly cash flows, and sell after about 5 years of stress free property management.The issue I am having is selecting finishes that are reasonably affordable (dare I say cheap), durable for renters, and still get top $ on an appraisal when we go to refinance. 

Hello,I was wondering if someone had any recommendations for a good general contractor for demolishing a brick stoop and rebuilding a concrete stoop in its place in the Northern Suburbs (Wilmette specifically).

This is just the latest in an arduous process, to find the deal under market value on the land, rezone it to multifamily district (long and costly process), permit a six suite rental (difficult with many technical fire code and structural engineering challenges), build the units (using all my experience in home building and every possible favour and technique learned over the years to project manage), get financing to finish construction (from a private lender after the bank lenders totally dried up on this type of financing), and pre lease the units while under construction to quality tenants.  

No debt is absolutely wonderful.

I wonder if the location made the value in the land? 

Researching the Brrrrr strategy and wondering why the first purchase loan is through a Hard Money Lender, relative, or personal cash and not a conventional loan? 

Im looking at about 40k on a HELOC and im wondering if I have too pay the monthly even if I havent used the HELOC.

I am wondering if anyone has any insights on how I might get involved with real estate while still studying in school.

His response was “Lol, it’s not worth 450k”.I started wondering if the Miami market had plummeted overnight and no one had told me.I looked up the comps and my evaluation is the property would sell for well over 500k.

The property would be around the $250,000 range.I was wondering what would be a fair level of compensation for each person?