All Forum Posts by: Account Closed

Greetings-

I’m seeking recommendations for an excellent CPA who specialized in helping real estate investors. 

Thank you!

@Josh Bakhshi, @Jay Chitta, @Henry Lazerow thank you for the pointers. I know Chicago has been a tenant friendly city but I wasn’t sure if there was any assistance also being given to landlords directly affected by this. I will work with my reserves and look into temporarily freezing my mortgage payment. 

Thank you!

Hello! Seeking help!!

I’m a landlord in Chicago, I work in a hotel and was laid off due to the COVID coronavirus crisis. I also am receiving less and less of my rental payments. My gross income in 2019 of $80,000 doesn’t allow me to apply for the city’s mortgage grant which caps off at $70,600.

I had a tenant break their lease and move out, another tenant breaking their lease as they’re students and had rotations cancelled, and a tenant behind on rent, and another also moving out. 

So now, I have no job, I’m still waiting for these unemployment checks to show up, so zero income, and will likely have zero rental income in the coming month, and already am receiving significantly reduced rental payments. Not to mention, I feel I would be in violation of my tenants safety by allowing their units to be viewed during the stay at home order.

Does anyone know of any local, state, federal, anything, assistance for someone in my shoes?

From my employer I’ve only made probably less than $3000 so far this year before I was laid off. 

Any insight would be greatly appreciated. 

Hello, I'm seeking recommendations for great contractors who service Little Village, Chicago 60623 to assist with the following needs:

• - roofers for a pitched roof
• - replace floorboards in attic
• - fix ceiling with water damage
• - minor wall repair and painting
• - tuck pointing
• - junk removal
• - a reliable handyman!

Thank you!!

Anjali

@John Warren, Thank you for your insight!

In his materials and podcasts, @Brandon Turner discusses that he's managed all his own rental properties even when he had units on a large scale. How do you manage properties remotely if the need arises for an individual to physically go and see a tenant, say for example, they don't pay rent and stop taking your calls?
Is it possible to truly manage properties remotely? How do you get someone on the ground to handle those issues? What are the legalities of this?
I know screening and acquiring quality tenants can prevent this issue, but say somehow this happens.

@John Warren @Patrick Britton thank you!

Greetings all!

Would someone here have any recommendations for an absolutely superb, best of the best property manager for a multifamily in Little Village, Chicago? 

Thank you kindly!
Anjali

Hello all!

Does anyone have any recommendations for books or materials that cover some ideas about how to learn about real estate markets overseas? 

I'm from Chicago but want to see any tips on how to explore Yucatan, Oaxaca, and Puerto Vallarta Mexico when I visit next month.

After my first property purchase I realized how the purchase price seems to almost double with a 30 year loan. They say to pay yourself first. In this case, does one let their tenants pay the mortgage and use cash flow to reinvest, or is it good to accelerate your loan pay down and gain equity faster and at a lower cost?