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All Forum Posts by: Justin Carter

Justin Carter has started 12 posts and replied 31 times.

Post: I think I have a Roof Leak! HELP!!!

Justin CarterPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 31
  • Votes 22

@Theresa Harris Hmm that didn’t cross my mind since this is the top floor unit. But now that you mention it, the leak is in one of the bedrooms directly next to the bathroom and so that could be it.

I called a roofer and he will come check it out tomorrow.

Post: I think I have a Roof Leak! HELP!!!

Justin CarterPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 31
  • Votes 22

Hello BP Community!

One of my tenants just sent me a txt letting me know that water is leaking from the ceiling. She’s in the top unit and so I’m pretty sure the leak is related to the roof.

When I purchased the home back in January I had an inspection conducted on the property and the inspector noted that there was nothing “alarming” about the roof and that everything looked okay from what he could see.

The house has a flat roof. Any recommendations on what I should do? I definitely don’t want to replace the entire roof right now. Maybe just one section needs to be repaired? Also, any idea how much flat roof repairs cost in the Chicagoland area?

Post: MTM lease termination for Section 8 Tenant

Justin CarterPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 31
  • Votes 22

Hello BP Community! I’m coming to you guys for guidance and advice.

In January I closed on a 3 unit property on the South Side of Chicago and the property was partially occupied, with 2 of the units being rented by Section 8 participants.

When I bought the house, the tenants weren’t on leases and so the first thing I did was put the tenants on MTM leases.

Today I gave one of the tenants notice that I will be terminating their MTM lease effective April 30, 2020. That equates to a 60 day notice which is courtesy when considering the minimum amount of time required in the state of Illinois is 30 days. I also told the tenant that as a courtesy I would provide her $200 moving fee to be paid upon her receiving her moving papers and successfully vacating the property.

In the letter I told her that I was terminating her lease so that I could make renovations/much needed repairs.

She sent me a txt that says she doesn’t understand why I’m terminating her lease if she pays her rent. I went on to tell her that I need to make some renovations to the unit that can’t be competed while the unit is occupied. I explained to her that this is a lease termination and not an eviction.. which are two different things.

She is now questioning me asking if I gave any of the other tenants notice and why her unit is the only one that’s getting upgrades. I explained to her that I just bought the house and that her unit needs to most work out of all the units in the building.

Now she’s saying she will have her lawyer give me a call. I doubt she has a lawyer but I don’t want to underestimate anyone. I guess my question is, what should I do? Has anyone experienced anything similar? And how did this shake out for you?

I thought I did everything correctly. I gave her proper notice, and have already provided CHA with the termination letter (as required).

HELP!!!!

Post: Chicago Residential Lease 2020

Justin CarterPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 31
  • Votes 22

@Brie Schmidt thank you! Do you know if this can be used for MTM tenants?

Post: Chicago Residential Lease 2020

Justin CarterPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 31
  • Votes 22

Hello All,

I just purchased my first 3 flat in the South side of Chicago and I am looking to put my current tenants on leases (they are currently MTM).

Does anyone have access to the 2020 Residential Lease provided by the Chicago Association of Realtors? A few weeks ago I was able to find the 2019 lease, but I’m thinking I’d be better off using the 2020 lease.

Thanks!

Post: No Central Air in Units

Justin CarterPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 31
  • Votes 22

Hi BP Community!

I’m closing on a 3 unit in a few weeks and the property doesn’t have central air. I’m wondering what’s the easiest and most cost effective way to keep the units cool? My initial thought is to install ceiling fans and maybe window units into a few of the bedrooms? I’m also wondering if wall units work better than window units? And do most landlords make the tenants bring their own A/C units?

Looking forward to everyone’s feedback.

Justin

Post: Creating an LLC for 1st property

Justin CarterPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 31
  • Votes 22

@Jake Hottenrott @@Eamonn McElroy Thank you guys for your insight! Yes, the property will be my primary residence at least for the 1st year. I'm using FHA financing and so as you know, it's a requirement that I at least live in the property for the 1st year.

As I acquire more properties I'll revisit the idea of creating an LLC. I'm certain I won't stop at 4.

Post: Creating an LLC for 1st property

Justin CarterPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 31
  • Votes 22

I'm closing on my first property in a few weeks and I plan to house hack. Is it worth creating an LLC? And if so, has anyone used LegalZoom?

Post: Closing Cost Credit for Repairs Greater than Closing Costs

Justin CarterPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 31
  • Votes 22

@Alex Roth I’m currently in this sane situation. How did this work out for you? Did you find a cure or did you walk away from the deal?

Post: So what's holding you back?

Justin CarterPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 31
  • Votes 22

@Frank Patalano Do you know anything about the Chicago market? What’s a good price point for a 2 flat or 3 flat?