All Forum Posts by: Catherine Brennan

We go to HOBO's : Home Owners Bargain Outlet for all flooring 

@John Sartori - which Bank are you using for this loan?  I'm in Chicago and would like to learn more about this option.  Thank you in advance ! 

Looking forward to today's meeting at 1:00 PM today!

Thank you - all great points !  

Thank you, @William Price!  This is helpful!

@Michael Barbari - which bank are you referencing?

Because it was a multiple offer situation and they wanted the property

@David Dachtera  that's a great idea!  I'll run it past my attorney.  Thank you!

Hi BP Community:  I may need to consult with an attorney on this, but I was informed by a property manager that collecting rent in advance (ie 3 months, 6 months, etc..) could pose a problem for Landlords in Chicago due to Tenant Law.  If this amount is collected upfront, it's considered a security deposit and requires interest to be paid on it.  Additionally, if sued, the judge could use that amount collected as a base number which exposes the Landlord to a higher penalty amount than if just a security deposit was collected or move-in fee.

Anyone know more about this? 

Hi BP Community - we're closing on a SFH next Monday and we're looking for a reliable, reasonably-priced contractor (who isn't :-) to get this property into rentable shape. Specific location is Portage Park. We'd love to forge a long-term relationship with someone as we continue to grow our portfolio. If you have a sound recommendation - we welcome it. Thank you for your help!