All Forum Posts by: Henry Lazerow

How is the neighborhood? Is it C or D? If its D maybe sell is the best option. 

No one will give contractors who are actually good and cheap out on here. I have some and I ONLY give then to my brokerage clients after they close. To find them yourself call a bunch off facebook and test them out on small jobs. On facebook market place can find guys who charge even 1/3 the price of what find off yelp and they are essential for a profitable value add project. 

In chicago north side management fees run 4-5%. In the south and west side 7-10%. Suburbs typically 8%. It depends on grade of property but would never recommend going over 10%.

Has anyone closed these new 40 year DSCR cash out loans I see advertised as fixed rate options?

After googling Ashcroft Captial I keep getting advertisements to invest with them. Interesting they keep spending money on marketing for new funds, all while sending out capital calls on their current projects. 

I have $30k of stock options losses this year (multiple bad trades in a row lmao after making 35k last year off options and sadly paying a lot of tax that cant be carried forward to this years losses). Can I deduct this $30k 2024 loss from my 2024 rental income or does it need be the $3000 a year max deduction?

On another note, so done with options I actually called Schwab and turned them off. Way too much gambling/luck aspect to it and even when you win for the year the tax rate is awful compared to long term gains. 

What was their credit scores? I think will be extremely difficult for then to get money out of you but may be easy to get a free stay and claim any eviction attempts are retaliatory. 

In Chicago STR demand is flat since 2022. I may switch mine to LTR as our LTR rates have gone up 10-15% per a year since 2021 and are now close to the same net profit as airbnb. Home prices are 11% up yoy even with high rates and common to see multiple offers. Our LTR vacancy is under 3%.

Is this in california? Talk to an attorney ASAP. This tenant probably trying to not pay and stay as long as can. 

@Carlos Ptriawan interesting thoughts. For large cre deals is it sometimes fixed rate debt? I thought always had balloons etc. I agree even on 2-4s which is what I normally focus on you need a solid margin between cap rate and debt rates. One thing thats hard to calculate is rent growth. I passed on some deals that broke even a year or two ago that now would have been great buys due to their rents increasing 20%+ here in chicago, its somewhat of a gamble to rely on faster then inflation rent growth though to make a deal work.