All Forum Posts by: Aaron Frances

I'm looking for examples of a rental application for Illinois. Does BP still have a forms section? I can't find any using the app or on the website.

 Evergreen note servicing claims to service 23 other states. https://notecollection.com/

AL, AK, AR, AZ, CA, CO, FL, IN, ID, LA, MI, MS, MT, NJ, MM, NV, OH, OK, OR, TX, UT, WA, WY

Hi can you share your referral in the thread? I myself am looking for a servicing company and can't seem to find replies only Reponses with PM me and I'll share. Let me know if you can share on this post as I trust it will help many others on BP like me who are looking. Thanks for sharing. 

 Hi can you share your referral in the thread? I myself am looking for a servicing company and can't seem to find replies only Reponses with PM me and I'll share. Let me know if you can share on this post as I trust it will help many others on BP like me who are looking. Thanks for sharing. 

I took a more extreme approach for my rehab for a foreclosure as so much needed to be redone anyways. While adding an ADU in my basement I removed the plastered walls to insulate behind them and covered up some holes with cement that were found in the shiplap attached to the house. On exterior my stucco was falling apart so I removed that and added 12"x25' metal flashing around the entire base of the home. The flashing overlaps the shiplap and concrete foundation by a scooch. Further more my finished porch was another area of entry underneath the siding. There was a 3/4" gap where the plywood did not touch the foundation of the poured concrete foundation of the porch. The past installer simply used the siding to overlap the gap. There were still gaps where a tiny mouse could slip between the bottom siding panel. I removed the first siding panel at the bottom and sealed with same metal flashing. Reinstalled the siding and am now rodent free. Good luck to them if they can chew though metal, they deserve whatever they find behind it! If its cash flowing just go in and fix that issue and kick your feet up.

Need some advice on a buy and hold I have. Are there any other way's I can document my rehab/addition to add more value to my appraisal for a cash out refi? Mortgage lender said there just aren't any comps in the .7 mile area to justify a higher value to what it is I did. I'm in Chicago. I can't buy my property any place else for anywhere under $650 but those are in different neighborhoods.

Several years ago I bought a 2 flat apartment building at 2500sqft for $220k. Used cash out of pocket for gut renovations of the 2 units which then appraised for $425k 3 years ago. I did a cashout then, further spending $125K to rezone and add an additional legal 1000 sqft apartment in the garden. My realtor said I likely have added $100k in additional value so my assumption was the value should appraise for $525k or greater. 

3 years later, after finishing the project I'm sitting on a 3500sqft property fully gut renovated that is only appraising for $423k. I'm scratching my head here. Cashflow is there, but I was truly banking on a 2nd Brrrr to recoup some of the renovation cost spent out of pocket for the last 7 years I've owned it. Super bummed here. Thanks everyone!

@Harjeet Bhatti, Hi Harjeet. Can you share with me your list? Thanks.

@Ian Kibbe hi Ian, let's connect. I'd love to follow your progress to see how you do yours.

If you're using it as a rental I'd do vinyl planks. It'll protect it from pets, furniture being moved and other nonsense that goes on to the rental. If its a flip then just refinish and move on.

@David To does anyone know if rekeying is viewed as illegal? I almost feel like this is a form of theft on a grand scale to lock an owner out of a property they own. Talk to an attorney and see if you can pursue a cash for keys with grand larceny as the leverage. If it makes sense to an attorney it may be worth exploring. I'm very compassionate to people who are experiencing a hard ship but the tenants have taken it to a whole other level of nasty. Good luck with your situation.