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All Forum Posts by: Chris Herrera

Chris Herrera has started 17 posts and replied 184 times.

Post: Deduct paint cost from security deposit?

Chris HerreraPosted
  • Real Estate Agent
  • Addison, IL
  • Posts 185
  • Votes 88

@Monica Evans typically it’s wear and tear and part of the standard process unless they punched a huge hole in the wall

Post: Should I Withdraw My 401K To Fund My First Deal?

Chris HerreraPosted
  • Real Estate Agent
  • Addison, IL
  • Posts 185
  • Votes 88

@Joe Giovatto I get where the majority is coming from on not getting the penalty and tax and at the same time I believe in having more control in my money and investments.

I have taken a loan on my 401k and would do that first and if you find a good deal that you can really commit too and need all the money then I would just do it.

It’s better to get started than not but my main concern would be if you need to pull that money then it doesn’t seem like you’re liquid enough for any unseen maintenance and that’s where you can get in real trouble.

Post: Commercial agents not responding

Chris HerreraPosted
  • Real Estate Agent
  • Addison, IL
  • Posts 185
  • Votes 88

@Thomas Lowe they get a lot of calls from non serious buyers all the time so I would recommend including proof of funds each time your reach out if you don’t have an established relationship yet.

At least that way they know you are capable of buying what you’re inquiring about

Post: What makes a "good" landlord into a "great" landlord?

Chris HerreraPosted
  • Real Estate Agent
  • Addison, IL
  • Posts 185
  • Votes 88

1) Communication

2) Respect

3) Accountable

Post: Should I allow pets in a rental?

Chris HerreraPosted
  • Real Estate Agent
  • Addison, IL
  • Posts 185
  • Votes 88

@Geoff Pettis I don’t, but I’ve been open to making exceptions if they pay a fee for it to cover any possible damage

Post: Renting to a multi-generation family when mom has horrible credit

Chris HerreraPosted
  • Real Estate Agent
  • Addison, IL
  • Posts 185
  • Votes 88

@Lori Schaffer it would depend on the son and the wife. What’s their track history, if only one of the 3 have bad credit then just make sure the other two are on the lease and you have their SSN

Post: New real estate agent

Chris HerreraPosted
  • Real Estate Agent
  • Addison, IL
  • Posts 185
  • Votes 88

@Alvaro Rodriguez a lot of strategies, cold calling, door knocking, social media, joining local groups, direct mail. You just have to find a few that work best for you

Post: What to do when seller won't hand over rent rolls?

Chris HerreraPosted
  • Real Estate Agent
  • Addison, IL
  • Posts 185
  • Votes 88

@Jonathan Hernandez they might not be motivated to sell if they’re really holding out info like that if it is off market. Unfortunately it might be more of a long term lead down the line if that’s the case

Post: Is the real estate market a buyer's or seller's market right now?

Chris HerreraPosted
  • Real Estate Agent
  • Addison, IL
  • Posts 185
  • Votes 88

@Joshua McMillen there’s always a reason why it’s not a good time. If you find a deal and you’re financial and mentally ready than do it.

It’s a strong sellers market for sure, but if you put the work on there’s always deals to be found

Post: How do your tenants pay rent??

Chris HerreraPosted
  • Real Estate Agent
  • Addison, IL
  • Posts 185
  • Votes 88

@David Woz nothing has really changed so far from the merger from what I’ve seen when using cozy to collect rent, still a pretty seamless system