All Forum Posts by: George G.

Yes, it required to give to a tenant before serving with the appearance for the eviction court date (at least Cook Co.), and it has to be properly dated for Illinois or your case will be delayed even longer, the Chicago Liberal Judges love people who don't pay.  The judge ask my tenant once how long they needed to move they said 90 days.  Case was delayed another 90 days (just for status) usually can take up to 6 months or more in Chicago since they love dead beat renters.   Again, why landlords not a big fans of Chicago tenant laws...  When you deal with low income earners in Chicago you deal with nothing but liberal bureaucracy that hates any landlord seen as the "man" holding them down and rich....  Isn't it fun to be a landlord in Chicago.   I did 10 evictions in 2 years it was ridiculous I was literally kicking in doors (people using propane to heat an apartment), throwing tenant things in the street, calling the police constantly. FUN FUN  I will have to say it was a learning experience to say the least...

Sounds all too familiar programs like fortune builders, Chicago REIA, renatus, all the same the goal is to get your money for memberships, investment deals and so on to pay for all the GURU and master programs and advice. On average I can count 100 solicitations I get a year for some investment or syndication. There is no program that offer 100% money back guarantee. I believe in failing forward you should always try and there are sites like this now to give you all the advice you need... You need to pay someone 50K for advice give it to me....lol.

I was considering investing in Norad Real Estate they have a Capital Management section that claims: https://drive.google.com/file/...

That they will pay a maximum of 17.5% monthly with a 2 year term... Anyone sign up for this yet?  While the turnkey properties do not sound like it's worth bothering (tons of mixed reviews and sounds a little like Cardone) I assume they do some hard money lending so anyone have any experience with them?  Based on the slim margins I feel like I may lock up my money for 2 years with slim paltry returns of less than 10% or less with the stock marketing returning an average of above 10%+ what is your opinion on this.... Like to hear from real customers good or bad... Thanks in advance.

They reached out to me too I am always skeptical when they have no real clients on bigger pockets that can verify his so called "system" to me that a red flag right there sounds like another program scam... Unless DJ can post up verified satisfied customers from Bigger Pockets anyone?  Crickets I'm sure

First not sure about your state but in Illinois foreclosures take up-to 18-24 months so you have find out what stage of the process they are in.  Could it be shadow inventory? Which would be good.  And then you just ask them, call the lender find out what department handles the property and just ask them, I want to buy it.  As you already know banks don't like to hold property.  In my experience it depends on the bank some banks are responsive immediately, some could care less and it could sit for another year or longer.

Many lenders do not like to take 2nd position on the loan.  It may be a challenge for that amount.

Please take a look at programs if they are help in the same LLC we could possibly to one closing.

Take a look at our programs at www.blacksquarelending.com

I have a few programs we can offer take a look blacksquarelending.com

thanks

BlackSquareLending.com new 5 year Fixed Program. As the real estate market improves so do our loan programs.

5 yr. Fixed (25-30 yr. amortization)

Non-owner Rental Loans (Rate & term / cash-out

or purchase)

Loan Size $ 100,000-650,000

Loan to Value Up to 65 %

Interest Rates 4.25-6.5 %

Minimum Asset Value 150,000

Credit 620+

States: Most States

Recourse Non-Recourse available

Fee’s Reasonable

Prepayment 3 % / 2 % / 1 %

Also: Rental & bridge loans from $ 25,000 to 75,000

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600 mid credit score & above. Up to 20/20 & 30/30

term & amortization.

Feel free to reach out we have new program post COCID 19 with updated terms and great programs. Just got to blacksquarelending.com take a review of what we have any questions please ask.  Thanks 

G.