All Forum Posts by: Catherine Brennan

Thank you to everyone who responded!  Your advice in combination with advice from our insurance broker and real estate attorney helped us reach the conclusion that the trampoline needed to come down.  Tenants are disappointed, but seem to understand.  Thank you, again.

Good Afternoon - seeking advice about the following:

I drove-by my rental property and saw there's now a trampoline in the backyard.  I read through our lease again and tenants are required to get permission/authorization to install items like this which tenants didn't; and there is a sentence in our lease that we are not liable for any issues with these additions.  

Anything else I should do to protect ourselves?  They've been good tenants so far.

Thank you, in advance, for your help.

Catherine

Buyers market in Lincoln Park, Lakeview, and North Center for single family homes $1mil+.  Lots of inventory, not enough buyers. 

thank you @Nick Patterson. I'm sorry that I didn't word by question properly. I'm curious which bank you use for your LLC series accounts. Chase and Bank of America won't open accounts under a Series LLCs. First American will, but asking you (or anyone else who wants to chime-in) which banks will open accounts under the name of a Series LLC. We'd prefer a larger bank. Thanks again !

@Nick Patterson - hi Nick! Which bank do you use to set-up your individual or series LLC accounts ? Thank you for your help!

Good Morning - I'm refinancing 3 properties (SFHs) closing on Wednesday. I expect some volatility in the market leading-up to tomorrow's Presidential election. I typically go to bankrate.com to check interest rates, but looking for a better resource if anyone has one. My problem: the Lender I'm using is with Guaranteed Rate. He typically pays my closing costs because he does such huge volume. In this case, I'm paying Title charges but nothing else. For that reason, I think (don't know for sure) he'd rather not adjust my interest rate when they go down even though he assures me he will if they do. We've been locked into 3.875% since Labor Day which is a great rate, but let's face it, if there's a better one, I'd like it to be adjusted for better cash flow. Thank you in advance for your help.

@Matt Jordan I'm a full-time Realtor working in the neighborhoods you listed.  There are many larger condo buildings working to change their Bylaws to prevent "hoteling" in their buildings if they haven't established their position already.  Make sure to ask and read through all condo docs and 2 years of meeting minutes so you're aware of current and forthcoming policy.  Good Luck !

@jackt I'm an investor in the Northwest neighborhoods of Chicago, namely Portage Park.  I'm definitely concerned about not only the direction our property taxes are going, but also our water bills.  We're on the hook to cover a badly managed city worker pension program.  The problem: we don't know how outrageous it's going to be and I'm not sure I can increase rent enough to support it.  So looking elsewhere for my next property - like Indiana.  

@Elbert D. I've been a full-time, licensed Real Estate Agent for 14 years and I'm happy to answer your questions.  However, you don't need a Real Estate Agent to close your wholesale deals, you need a Real Estate Attorney.  Please feel free to PM me if you're looking for a referral, I have two that my clients really like.  

@Andrii Okipnyi my understanding of the City Ordinance is all property owners are required to clear public sidewalks of snow by 7:00 pm the day of a snowfall.  And, in addition, Landlords provide a bucket of salt for tenants. I'm unclear as to requirements for clearing snow on sidewalks leading to front/back doors and driveways.  Hopefully someone else can chime-in about that