All Forum Posts by: Mark Ainley

can u send a link for the event?

a mortgage banker we use right now is doing a lot of owner occupied multi unit deals and may be a good resource.  Chris Puleo 630-742-3198 Republic 

I am always open to talking and tell you my take on areas and the market.  Can also refer you a PM depending in the area u r looking.   

I have a hand full of contacts or can point I in the right direction but let me know what u are getting money on? Over 5 units, portfolio lending, FHA, or some sort of private lender?

SFH rental west or nortwest suburbs is extremely strong almost anywhere in that area. Priced right and in good shape it will lease in less then 2 weeks everytime.

Tons of young families in the area that have grown out of their condo/townhome.

the water cert applies to any transfer of any real estate.

We have a series LLC that we started 5 years ago and it is much more affordable than seperate LLCs but this week in conversation I heard there is a active court case that people are watching closely that is testing the true intent of the Series LLCs corporate vail. I will try to locate that. The cool thing about a series LLC is you can have different ownership per each series and you only need to file one tax return.

Also last week there was a proposal in Illinois Senete to reduce the cost of set up for an LLC which would be reduced to $99.00. This is being pushed by SBA but I heard that didn't make it out of committee.

It is always better to buy the property in the LLC to avoid having to deed it over later and pay an attorney to draft up & recording fees plus your name is never connected to the property either. Not sure where you property is but in Chicago they started last year you need to get a final water reading in order to deed it over so the process takes 6-10 weeks to deed over plus your attorney migh charge you more.

Wendall, we just emailed you our POF so please let us know anything more you need from us!

Thanks Brianna! Robin please let me know if we can be of assistance.

it's cool right now because it is simple!!!