Anyone have a good referral for an FHA loan advisor/broker for Dupage county or the west suburbs of Chicago?  I am going to make the dive into a fourplex in the west burbs via the good ol' house hacking method.  I'm w...

It's important to get to know a lender that is an expert at lending on investment properties to help you best.  

He is an expert in business and logistics modeling.

Lisa,I don't know if what I am going to say will help but here we go.Moving fast in any situation where you are not an expert or a least versed is a big risk.It is sometimes better to take this situation, educate yourself and move on the next one.I would encourage you if you don't already to put a team of people together, real estate agent, attorney, mortgage broker, title company ext.Once you have this team in place you can get these type of questions answered quickly.A quick way to loose money is ready fire aim.

Hi All,I am in contract with one small duplex in Bakersfield CA area(zip code - 93305) and need some guidance from expert investors to see if these numbers make sense.Offer Price: 100k (1bd/1ba and 2bd/1ba) - 1500 sq ft duplexCurrent Rents: 495+650 = 1145 per monthExpenses = $500 pm(Maintenance, Property management, real estate taxes, replacement reserve, Insurance) Mortgage (Interest + Principal ) = $405 pmCash Flow = $240 per monthCoC = ~ 10%There is deferred maintenance of $10k-15k on the property which I might negotiate to split 50-50 with the seller.The market rents are around $650(1bd) - $750 (2bd) so there is a possibility of increasing rent by another $250 which will increase my cash flow even further.Why am I interested in this property,- With small down payment, I can get my feet wet into REI and learn the overall business (working with property management, tenants, maintaining investment property away from your hometown etc.)- Within my state so I can drive there in 4 hours if I have to.- Planning to buy and hold for multiple years and initially check if it really cash flows (and passively) or notMy Concerns/Questions- The property is 1939 so what if big expense like HVAC or Roof comes up in few years?

I have used Carpet Cleaning Experts before.

I'm no expert, but real estate investing provides me with 100% of my income currently.

Happy to defer to an expert on reno stuff.

The sheriff in my county will let you write a personal check when the auction concludes, but then you have to come back with a certified check for the full amount by noon.  

@Josh Cuthbertson I am no contractor nor rehab expert, but for this property a rental, I could see around $10-$15/sq ft as a very, very general estimate. 9 pictures isn't a lot to work with, but it looks like every surface needs to be re-done.