All Forum Posts by: Abdessettar Ibourki

To my knowledge the property owner should fill up an application form to be part of the section 8 program, then wait for a program inspector to approve the property.

Based on this what are the steps to follow, If I want out of the program officially.

Thanks again.

I just found a 4-unit property that is relatively in a decent area. When I asked my real estate agent about the financials, I noticed that 3 of the 4 units are under Section 8 yearly Contract.

Is there a way, in case I buy this property, to have it not to be part of the Section 8 program? If so how to go about implementing this?

Thanks.

Porter and Lake counties. Specifically in areas with good school system.

Good morning All,

due to property taxes and all the fees that Illinois charges associated to renovation licenses (even for minor upgrades), I was focusing my property search on Indiana mainly B neighborhoods in the NW part. However recently the prices in NW Indiana went up crazily (numbers don't make sense at all, no cash flow none even 1% rule) .

What do you guys think about investing in North west suburbs of Illinois (aka Schumburg)? 

my concern is, specifically, is that the property tax (it is more than the mortgage itself) will kill my bottom line. for example if I lose a tenant, the property tax can wipe out my cash flow.

Thanks.

Good morning to you all,

1. What do you guys think about the Insurance coverage in the attached picture for a 4-units building?
2. If any lines to negotiate or change what would they be?
3. Any suggestions.

Thanks.

Thanks guys for the replay,

What if the tenant refuses to use it for security concerns (thinking maybe their account can be hacked!) is there any practical alternative to automate the rent payment without the tenants providing theirs accounts?

Thanks again.

Hello All,

I watched few YouTube videos about Cozy and how it can make the property management much easier.

I wanted to know your experience with it and if you would recommend its use and if there are any downsides on it.

Thanks.

Greg 

I agree 100% that my main issues was having the wrong agent representing me. I will deal with that but my priority now is the deal

Thanks.

Thank you guys very much,

The thing is that my agent was calling the listing agent all week last week to arrange for the inspection but couldn't reach him. My agent had to call the company the listing agent works for to have him return his calls. and we have the the tree of call attempts.

That is why I am kind of suspicious about their resistance to do the inspection.

Can I use this tree of call in some way to do the inspection.

I want the deal, but also If there are issues in the building either they should be fixed by the owner, or drop the price and I'll take care of them later.

Thanks again.

Hello there,

My real estate agent arranged for inspection (for my first 4-units) this coming Thursday.

He called me this afternoon to inform me that the listing agent refused the inspection as it passed 15 days from signing the sale contract.

When I asked my agent about the reasons he stated that may be he doesn't want to do the repairs, as my loan is a residential HUD loan. According to my lender the building has to meet certain standards for the loan to pass.

Also I already handed them the Earnest check.

The building is in decent shape but needs some cosmetic touchups. However when the listing agent refused the inspection, that made me wonder about what they're hiding.

Any Suggestions of how to handle this situation.

Thanks.