All Forum Posts by: Glen Doering

Or high expenses? I've seen properties with common boilers providing heat and other utilities to all units and the expenses are huge. The comparison needs to be on the NOI.

1 Vote

Originally posted by @Justin Hammond:

@Glen Doering Oh that makes sense, thanks for clarifying. Definitely don't have that factor in my market. Is it usually difficult for properties to cashflow in your market then?

Correct. I don't invest in Illinois for a variety of reasons, one being the high property taxes. Also, unfriendly landlord laws, rent controls proposed in legislature, etc.

1 Vote

Originally posted by @Justin Hammond:

@Arthur Doss Are you sure his payment is 1800? That seems extremely high for a loan originated at 140k. I would look into that, because that’s like hard money rate.

The payment seems high because it includes the very high Illinois property tax. There is probably $350 to $400 a month in that payment for taxes.

1 Vote

@Lance Lvovsky Will this require a 1099 to be issued? What’s the deadline for that, January 31? It may be tax free at the federal lrvel for the child, but what about state income tax?

0 Votes

Hello all, I could use a Handyman recommendation right about now. Any references would be appreciated. Thanks, Glen

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Thanks for the info! @Jameson Drew

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Interesting idea. Thanks @Anthony Drew Gary

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Good point! That would be Muncie, IN.

0 Votes

All Forum Posts by: Glen Doering

Glen Doering has started 2 posts and replied 22 times.

Post: Assisted living Chicago area?

Post: Assisted living Chicago area?

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Post: Chicago Pre Foreclosure

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Post: Handyman Please Help !

Post: Muncie PM recommendation

Post: Muncie PM recommendation

Post: Muncie PM recommendation