All Forum Posts by: Dhru Das

I have used Studio 41 for high end cabinets for flips..for rentals HOBO may be a good choice.

Welcome to the site @Spencer Young

@Spencer YoungYou got some unique skillsets..I am sure it will help you...I have recently started to look into Aurora/Joliet area as well..Good luck investing!

@Brendan M.

Welcome! The BP community is very helpful and lot of good information here as I have found since I joined not so long ago. I would also recommend checking this link for the best real estate books, I ordered most of them.

https://www.biggerpockets.com/renewsblog/2013/04/14/best-real-estate-books/

@Anh Truong

I am using Simplisafe for one my flips and it doesn't need wifi. I just purchased their base station and sensors and thats it...You don't need wifi or wired internet in the house at all as it uses Built-in cellular GSM technology...and yes once you are done with your house you can take it with you unless you want to give it to new owner as a selling point. Their monthly charge is 14.99, i got first month free. Also I had builder's risk insurance policy with vandalism coverage from NRG.

Dhru

@Mark Ainley and @Kelly Page

Thanks so much for explaining!

Dhru

@Kelly Page you said you charge a flat fee for late charges based on a formula due to Chicago tenant regulation and law...would you please explain what the formula is?

Thanks

Rahul

South Suburbs are always very good cash flow generators. I know a seller in south suburbs who has properties to sell with avg 15% or more cap rate, all properties already rented for immediate cash flow..PM me if interested.

@Robert Obniski

I agree with what @Mark Ainley just said. I purchased a SFR in south burb from a wholesaler. We did a quit claim deed and POA. But later the owner came back denying she signed anything as apparently the wholesaler didn't pay her all the money he was supposed to...I could have taken her to court and won anyway, but it was just a waste of time and delay in rehab process...It was my first deal so I didn't know lot of things back then which I do now...make sure you go to the city site and you can check for any liens against the property, back taxes etc..

Food looks good..too bad I missed it:-(

I doubt you will get the $1000 you spent on home inspection and attorney. To be honest, its not their fault that your agent didn't get his/her information right to begin with. But of course the earnest money you paid should be refundable. Check your contract contingencies, your lawyer should be able to help as well. It happened to me once, but lucky for me I was able to find out about the rental restriction just before signing the contract. You are right, not being able to rent out a property breaks the deal unless the location is great and you think you can flip it after doing some upgrade etc...your agent can run comps and tell you if that can be done...