All Forum Posts by: Account Closed

A 14 unit building has no HOA?? In Chicago proper? Proceed cautiously, as that is legally required. There must be that for the structural repairs, the common areas etc.

Not having that set up, could get ya in trouble where you will have to form it, unless you are going to combine the PINs back and make it an apartment building.

@Scott S. For me, I have to say the key to "No Money Down" should be rephrased to "None of YOUR money down". Think about that a while.

Welcome to Bigger Pockets. I meet with some other investors in Merrillville regularly you should join us!

Welcome to Bigger Pockets @Darone Brathwaite I am very jealous of your warm tropical weather you are having. Today, in Chicago, we got into the upper 40's and everyone was out in their shorts. ha. @Darone Brathwaite

Seriously though, REI is terrific, and I have been blessed to have a wonderful life because of it. It does take work, dedication. commitment, desire and some serious passion.

Stay with it, learn, educate and Happy Investing!

I am still confused as to what you are asking.

SO then make the offer you feel you need to make and see if it goes through. Either way, it will be a while on this foreclosure. But to make an offer just to ensure no one else does.. that isn't overly ethical if you ask me.

@Andrew J.

I am assuming you speak of a single family NOO home that you purchased using a HML. Now you would like to refinance it at the new appraised value?

Well, if the property is titled in your own name, you can get a residential mortgage. If the lender you go to is selling the loan to Fannie Mae or Freddie Mac, right now I believe you will get 75% LTV and need 12 months title seasoning before they will use the appraised value.

However, if the loan isn't being backed by Fannie or Freddie, you can find a lender that is Portfolio Lender and they sort of can make a deal by deal determination. They can also be more flexible in their LTV %.

How's Milwaukee treating you these days? I love the Milwaukee Brewing Company, those guys are awesome. Booyah, is some good stuff!

So let me get this straight, as a licensed agent, you would put a contract on a property you have no intention on closing. Letting the seller thinking it will be handled in a short sale only in an effort to force their property to remain vacant longer and go all the way to foreclosure??

This seems to violate every ethical thing I could ever imagine. I know the Realtor board probably wouldn't view it favorably either.

I state that because you say "Your client isn't in a hurry".

They have the rights to the "Phrase" but they do not have the rights to the words. Just change the order. Ugly Houses We Buy.

They will not be able to come after you for that. How about We buy the good bad and the ugly?

@Nasar Elarabi

Congrats on getting those tax liens. I haven't investing in liens in many a year. Was to slow for me personally.

I know @Jerry K. does this all the time. Maybe he will chime in with some advice for you!

Well, the formatting from my spreadsheet was lost. I apologize for that.

• Filing Fee under $15,000$237
• Filing Fee over $15,000$437
• Service of Process$60
• Special Process Server$75-150 (approx)
• Eviction by Sheriff$60.50* There is a cancellation or rescheduling fee
• Posting Notice$50/defendant (approx)