All Forum Posts by: Frank S.

Hi there, 

The two flat property is located in Chicago.  I am using the 2017 Chicago Residential Lease. 

Rules and Regulations 

#9 - No noise or sound is permitted which dist rubes the other occupants from quite enjoyment of their apartment tor common areas of the property. 

Here is my issue:

1st floor is complaining of noise from second floor. I purchased rugs and runners, but it it's still a concern.  The 1st floor could be great long term tenants. 

I will talk to the second floor tenants, but in the event this doesn't fix it. Do I need a police report (from first floor tenants) to enforce a 10 day notice as evidence?  The second floor are creating a little trouble, and I wouldn't mind canceling their lease before the winter starts.

My question is, how do you prove the above? Do I need the first floor to file  a police report or will an email be sufficient evidence? 

Thanks for any tips, 

Frank

You are good with numbers. You are right. The CCR changes. I rehabbed the place and my cash invested is lower than my first calc. Thanks for the good news!!!!!.

 Hi, thanks a lot for the feedback.

Can you recommend title companies? I tried EntitleDirect and they were higher by $300. 

It's my first refinance. Does it look fair?  Is it worth to shop around?  

Hi there,

Can you please comment on this estimate? It is from a large bank.

Currently, I don't have a mortgage

Score 780

Property Gross Income: $26,400

Assuming 160K appraisal, 30% equity:

DCR 2.5

Cap Rate 10%,

Cash on Cash 18.25%

5% vacancy, 10% reserve

Loan Info

115K cash out

4.85%

no points

Chicago, IL

Fixed 30 years, investment, no prepay fee, conventional,

No assumption, trasnfer service.

It doesn't indicate underwriting fee. 

Any feedback is greatly appreciated. 

You may need to right click and select open in new window to read. 

CLOSING COSTS DETAILS

LOAN COMPARISON

Thanks!

Frank

Hi there, I will be in NOLA over the weekend and I am looking to mix fun with work.  Will anyone be interested in meeting for coffee or seeing a property or two? I prefer distressed properties.  I invest in Chicago. 

Thanks, 

Frank

Melissa, do you travel to NOLA at all?    Those could be business expenses. Have you considered ABnB?  will the tax write off help? You make money by amortization and tax shelter, too. 

Have you consider selling? I will be in NOLA over the weekend and I am looking for some leads.  

Frank

End result...

We used Synteko.

Kudos to my brother!

Frank

 Ouch, ouch, ouch!!!!!!!!!!!!!!!!

@Matthew Olszak, as usual, great info!

Do you send a send a revised 5-Day Notice once the fee is in effect after the 5th day of the month?

Thanks a bunch and lunch is on me, Matthew.

Frank