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All Forum Posts by: David Cornett

David Cornett has started 4 posts and replied 34 times.

Post: How are you guys collecting rents?

David CornettPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 35
  • Votes 7

@Marvin Bobb

Cozy works great!

Post: Primary Home Refinance using IRRRL

David CornettPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 35
  • Votes 7

@Scott Jensen

https://www.clearpathlending.com/loyalty/

Post: Primary Home Refinance using IRRRL

David CornettPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 35
  • Votes 7

@Scott Jensen

Update: now six months into the refinance. The lender reached out and as part of their “loyalty” program, I can refinance again, no fees upfront or rolled into the loan. However, in obviously refinancing into another 30 year loan.

I haven’t moved forward yet, but we are looking at going from 3.625% to 3 or 3.125%, does this make sense to go through with the refinance?

Post: Best flooring for Chicago rentals (LVP)

David CornettPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 35
  • Votes 7

@Francis Rusnak - I recently used https://www.lowes.com/pd/ProCore-16-Piece-5-75-in-x-35-75-in-Heirloom-Oak-Luxury-Locking-Vinyl-Plank-Flooring/1000389559

Priced well - looks great. This was my first time usually vinyl- obviously doesn’t feel the same as a hard wood surface- but shows very well and is great for a rental.

Post: My Experience With Memphis Invest (Turnkey Company)

David CornettPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 35
  • Votes 7

@Zachary Schimenz

I think you forgot a zero in a couple of spots.

Post: Small Deals Mean Wasting Time & Making Small Money

David CornettPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 35
  • Votes 7

@Michael Ealy

So which hotel brands/franchise offer the best value for my money? Which has the best chance of performing well even in down markets?

David

Post: Security Deposit for Repairs

David CornettPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 35
  • Votes 7

@Glenn Lee

Thanks. I would say that a missing smoke detector and the baseboard damage is not “normal wear and tear” and will be deducting those.

Post: Security Deposit for Repairs

David CornettPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 35
  • Votes 7

@Kim Meredith Hampton thanks! This is in Illinois.

Post: Security Deposit for Repairs

David CornettPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 35
  • Votes 7

Received an email from property manager regarding the following- my question is can I use current tenants security deposit to fix these.

“cabinet damage in the kitchen

-Garbage disposal - sounds like something is stuck in there

-Smoke detector missing

-base board in hall damaged

-Wooden floor lifted is hall way, dark spot near kitchen

-damage behind bathroom door

-base board and floor damage near bedroom door

-paint damage in bathroom

-bedroom closet door damage

Also, carpet cleaning.

Let me know your thoughts.”

Post: Primary Home Refinance using IRRRL

David CornettPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 35
  • Votes 7

@Scott Jensen thanks for your response, the statement I have based on actual numbers is 41 months to recoup.

I thought that was worth it, but I wasn’t sure what the “norm” is, or what other criteria have for assessing.

Thanks again!