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All Forum Posts by: Eric Hu

Eric Hu has started 5 posts and replied 13 times.

Post: Chicago Insurance Broker

Eric HuPosted
  • Chicago, IL
  • Posts 13
  • Votes 8
Quote from @John Warren:

@Eric Hu I have several good contacts you can try. PM me and I can share. 


 Please send them over. Thanks!!

Post: Chicago Insurance Broker

Eric HuPosted
  • Chicago, IL
  • Posts 13
  • Votes 8
Quote from @Jonathan Klemm:

Hey @Eric Hu - I've got several good Chicago insurance brokers I can send you as well...I can send you a dm.


 Yes please send me the info. Thanks!

Post: 55+ subsidized housing

Eric HuPosted
  • Chicago, IL
  • Posts 13
  • Votes 8

Hello Chris, I'm interested in this also. Have you found any answers in the last year?

Post: Nashville MHU Boot Camp

Eric HuPosted
  • Chicago, IL
  • Posts 13
  • Votes 8

I'm looking to go also. Anyone else looking to split a ticket?

Post: Chicago Insurance Broker

Eric HuPosted
  • Chicago, IL
  • Posts 13
  • Votes 8

Hello all,

Does anyone have a good insurance broker recommendation in the Chicago area? I'm looking for new landlord insurance for my rentals and a good umbrella policy.

Thanks!

Post: Chicago Rehab Supplies

Eric HuPosted
  • Chicago, IL
  • Posts 13
  • Votes 8

Hello Chicago area investors!

I just finished a duplex rehab and sourced all the rehab supplies myself.  I figured that would be the best way to keep costs down at least regarding supplies. Here are some of the deals I found.

Studio41 - I got two sets of discontinued dark brown shaker style cabinets at 50% off on clearance. Seemed to me like a really good deal. 

L&L Appliance - Bought some used appliances. 2 sets washer/dryer $600. Stainless dishwasher/fridge/2xmicrowave roughly $600. I doubt I'll do this again.  Some of the pieces had issues but were fixed free under warranty but probably not worth the trouble.

Menards - Bought tons of stuff during the 11% off weeks including vinyl plank at $1.40/sqft and all the other little things needed. Also doors and countertops. 

Andersen Wholesale - Found them on craigslist as a wholesaler of slightly damaged/opened Home Depot stuff. I got some vanities and mirrors etc. for 50%.

I've got another deal that will need rehab and I'm trying to lock down better options for supplies. I'd love to hear what you guys think and where you get your supplies.

Thanks!

Post: Should I put property in LLC at Closing?

Eric HuPosted
  • Chicago, IL
  • Posts 13
  • Votes 8

Well turning REI into a business is a future goal. I have two properties currently free and clear. This is why I was wondering if moving them to an LLC would be easier to do now rather than later. But I admit I'm not familiar with everything I need to do to maintain the LLC.

Post: Should I put property in LLC at Closing?

Eric HuPosted
  • Chicago, IL
  • Posts 13
  • Votes 8

Thanks for the input everyone. I suppose an LLC may not be worth the effort at this point. I'll be looking into an umbrella policy instead. Thanks!

Post: Should I put property in LLC at Closing?

Eric HuPosted
  • Chicago, IL
  • Posts 13
  • Votes 8

Hello all,

I'm under contract for a duplex in Chicago right now and I was wondering if I should put the property into an LLC at closing or hold it personally for a while. The plan is to refinance the property in the future but I heard it would be difficult to do so with it being in a LLC. I've read about switching the property to my name, then switching it back after refinancing, but I'm worried about the lender calling it due. What would you do?

Great thanks! I'll email you.