All Forum Posts by: Cory Jones

most insurance companies will pay loss of rents only in an instance where your tenant is forced to move out due to repairing a covered loss by your insurer. During the time it take to complete the repairs, you would receive rent payments from your insurance company. Job loss by your tenant is typically not covered.

Hello,

I'm relatively new to the real estate investing world. I've done quite a bit of research over the years and have now started proactively seeking out deals. I recently came across a potential deal in a Chicago suburb, where the seller is pretty motivated. The house is in great shape and the ARV/market value for homes in the area range from $125K-$160K. She currently owes $70K and approx. $6K in back taxes. The problem with this deal is that the seller wants to walk away with enough money to either put a down payment on a cheap condo or at the least, be able to move into an apartment. I've done the math for a wholesale deal, which I'm most interested in getting done, however, I wanted to know how a lease option or seller financing deal could work here. I would like to be able to present the seller options. I'm looking to secure the property with the least amount of money out of my own pocket as possible. Please help and I appreciate any info given.