Getting ready to have a baby here in less than a month so probably wont be acquiring anything new soon, but hopefully in a year or so we will make another move.  

I live in the south suburbs of Chicago and recently acquired an investor.

I acquired a property last year via foreclosure.

On another deal, I had refinanced after acquiring and paid for lenders title policy when I got the new loan.

I greatly respect the innovativeness, courage, and ingenuity of those who are able to succeed in real estate and aspire to one day join that elite group.I currently own 2 investment properties and hope to acquire one multi-family property per year over the coming years.

dear Bp members,I am in the process of acquiring a property that is 50k arv but in need of 20k in repairs.

My neighbor (a woman) owns 5 3family brownstones on the block all of which she acquired over the years just by talking to the neighbors and as their time came to move on she was there to snatch it up for a bargain.

@Jon Holdman and @Daniel DietzThere are 2 types a DSCR a commercial lender will look at.A DSCR on the property your looking to acquire, in the current economy 1.20:1 is typical, but this will change based upon loan size and economy. 1:1 was actually common pre crash.And what is called a Global DSCR, which includes, all forms of income, and all forms of debt, personally and corporate (if you have corps).1.20:1 is what my banks wants me to show for both.I actually have the exact spreadsheets he uses.

Yiv,Unfortunately I have had my share of inherited tenants, illegal move in of a friend after another tenant moved and tenants having someone "stay" on a temporary basis then acquiring the visitor as a permanent tenant.

I'm looking at acquiring a condo for the convenience of having a place close to work that I can rent out in the short term future (3-5 years.)