All Forum Posts by: Kyle Kulhanek

Hello, I've been living in a 3br/3ba unit in Lincoln Park for approximately 5 years, and I have been intending to lease it out. However due to limited interest I've dropped the price, and I'm approaching my bottom limit, in which I likely believe it'd be a better financial decision to sell (obviously contingent on the sell price). Therefore, I'd like to get it listed, so I can explore both options at the same time.

As I start interviewing agents, any common pitfalls/things to consider when dealing with an agent when you still prefer to lease (ie would they expect to get the rental listing as well, etc.). I can see how there's a bit of a conflict of interests here, where the agent obviously prefers a sell, however I slightly prefer renting it.

Thanks in advance for any advice!

Jason, I appreciate the detailed note! I'll reach out to my lender to figure out what my options are. At that stage I may reach back out with some additional questions. 

Appreciate the help!

Hello - I'm new to Bigger Pockets, excited to get my real estate investment journey going.

I own a Condo in Chicago with a friend of mine (split 50/50), which I've lived in for about 5 years. I'll be moving out, and turning it into an investment property in a few months. We're looking to transfer this into an LLC for liability purposes.

From what I can tell, the best way to do this is to retitle the property, pay Chicago's expensive retitling tax, and set up an operating agreement, all of which likely requires a real estate lawyer (what $ base do we use on the tax, given we aren't selling it to ourselves, just transferring it?). 

Any advice for the best way to go about this, and save any $ on the process would be helpful!