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All Forum Posts by: Bob T.

Bob T. has started 10 posts and replied 44 times.

Post: rentprep website is down?

Bob T.Posted
  • Investor
  • Chicagoland, IL
  • Posts 44
  • Votes 9
Quote from @Bob T.:

rentperp's live chat is pretty quick.   They didn't resolve my issue yet, but at least someone acknowledge and will pass on the error message.   to be continue...

Finally login!   No idea what happen but at least there is someone answering.

Post: rentprep website is down?

Bob T.Posted
  • Investor
  • Chicagoland, IL
  • Posts 44
  • Votes 9

rentperp's live chat is pretty quick.   They didn't resolve my issue yet, but at least someone acknowledge and will pass on the error message.   to be continue...

Post: rentprep website is down?

Bob T.Posted
  • Investor
  • Chicagoland, IL
  • Posts 44
  • Votes 9

I setup my account previous week and just getting ready to run tenant screening,  when I try to login got error message.    is anyone else see this ... or this is just weekend maintenance?

Post: Zillow now wants $9.99 per week for > 1 rental listing

Bob T.Posted
  • Investor
  • Chicagoland, IL
  • Posts 44
  • Votes 9

Not really surprised, zillow had already done this in other markets in 2019 "Colorado, Florida and Oregon."

As more renter on zillow's platform (Hotpad 2012, trulia 2015...), of course they'll start to charge.   Just the cost of doing business.  

cheers to happy and safe 2020.

Post: Security Deposit for long term tenants 15+ years

Bob T.Posted
  • Investor
  • Chicagoland, IL
  • Posts 44
  • Votes 9

I had something similar issue of wanting to hold SD about 4 month ago, but not for 15 years (I wish!!!) it was only two years and I have before photos and tenant have "wear" and "tear".#!^%$, they did not remove any fixture or break infrastructure :) nothing that can't be fix during the normal turn around.   My attorney suggest not to hold since tenant is leaving.    "It's more trouble then it is worth".    

Post: Slim pickings in Chicago

Bob T.Posted
  • Investor
  • Chicagoland, IL
  • Posts 44
  • Votes 9

"turn key house hack"  does this mean property is already rehabbed and you will live in one, correct?  don't know your area or your numbers but maybe you can remove the "turn key" does it look better?

Post: rent out detached garage with separate lease.

Bob T.Posted
  • Investor
  • Chicagoland, IL
  • Posts 44
  • Votes 9
@Account Closed:

I do it all the time. I’m not allowed to legally in my area but everyone does.

What I do:
- NO driveway access for garage tenant. I give this to the house folks

-UNplug the powered overhead door.

-NO overhead remote given out (see previous)

- digital deadbolt to man door

- NONlocking knob for man door

- manual sliding lock for overhead door

My garages aren’t heated. It’s rented for storage only. Throw a LED bulb in there. look for someone storing a car or similar. No businesses.

I get $125/ month for a dumpy single car. In the last 9 years I’ve had 0% vacancy for all 3 garages.

Use a storage agreement, not a residential lease.

Post: rent out detached garage with separate lease.

Bob T.Posted
  • Investor
  • Chicagoland, IL
  • Posts 44
  • Votes 9

I have a house with 3 car garage (1 attached, 2 detached).   As we know housing doesn't paid for more garage space, with the proposed cut around $9.5 billion in 2018, my rent is not getting SAFMR (small area fare market rent) if I include 3 car garage.    so I wonder if anyone  separate lease for the detached garage?  can it be done without housing calling fault?    Of course I could just keep the detached for my own use but if I can get extra rent why not!   

basically if tenants want extra storage, I can charge $x that is separate from housing voucher.  is there any thing different I need to watchout for?

thank you!

-b

Post: Has anyone partnered with others this way

Bob T.Posted
  • Investor
  • Chicagoland, IL
  • Posts 44
  • Votes 9

Joe, what John is saying is to allow "B" to place lien (2nd position) on the house until you fulfilled your promise  "invested plus a certain percentage".   As long you don't sell or refinance before "B" is pay off you are fine.

I don't understand what you mean by "what if you want the partnership to be limited."   
 

Long term partnerships tend to get messy include the one next to you, but a good communication between partners always helps!

Post: Rental half bath vanity need back splash.

Bob T.Posted
  • Investor
  • Chicagoland, IL
  • Posts 44
  • Votes 9

thank you!   I'll take on this DIY.