All Forum Posts by: Frank Billman

I have a sfh for rent for $1550. Received an inquiry, older lady from out of state. Looking to move near her daughter and grandchildren. She mentioned on the phone she's looking for long term. After showing her the property tomorrow. How long of a lease is acceptable? Would you just write it for 24months and then address a new lease then? Maybe 36months and provide a discount $50 discount from current asking amount? Are rentals ever written for longer than 36 months?

 No was trying to get him to show them other units but he ends up informing them I have another unit available. I informed him of what I wanted to do after he already mentioned I will have another home coming up. He has showed them a few other places but they state they'd prefer to stay with one of my units. 

I currently have a couple who rent a 2br 1 bath unit for $1200 from me. They're always late but manage to pay the rent. They recently had a child and were looking to move as they wanted a 3 br sfh. I gave an associate in the REIA I belong to their info in hopes he would find another unit for them. He then informed them that I have a rental coming up. I forgot to mention to him that I was trying to lose them as a tenant. Anyway they keep asking me about renting this current unit which I will be asking $1400. I really would like to move on from them, I think. Not only would the rent increase they would also be responsible for the water/waste removal. Looking for some advice and guidance...

Looking at purchasing a property for possible flip or keep it as a rental, in the Chicagoland. It's a bungalow . Nonetheless it has a violation that the previous owners built a dormers without a permit. Will I have to have the dormers removed?

@Corby Goade where you able to find any insurance programs that worked for you? I too just left my 9 to 5. Coverage ends at the end of July. Waiting to hear about the cobra and then I will for sure to need insurance

Currently have a 3 flat gut rehab  in Chicago , Northside area and funds are beginning to run low and need to find some cash to complete the project.