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All Forum Posts by: Matt Michaels

Matt Michaels has started 10 posts and replied 38 times.

Post: Chicago FHA Lenders Recommendations

Matt MichaelsPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 39
  • Votes 6

To all who helped answer questions on this forum post I greatly appreciate it! I don't know if my tagging went through previously so greatly appreciate responses from @Tom Shallcross, @John Warren, @Joshua Jones, and @Brie Schmidt

Post: Chicago FHA Lenders Recommendations

Matt MichaelsPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 39
  • Votes 6
Quote from @Brie Schmidt:

@Matt Michaels I also recommend Sam Sharp with GR.  

Depending on where you are looking it isn't going to be easy. I cover Pilsen to Jefferson Park to Evanston for 2-4 units. For FHA you are basically looking only at 2 units under $550k - 3 and 4 units have to pass the self sufficiency test which 99% of properties do not. There is the 5% home possible but your income has to be under $85k so if you had no debt your max purchase is $400k which is impossible in those areas. There is also a 5% down program with no income limit but it can only be on 2 unit properties and the area has to be low to moderate income, which you can still find in some parts of the north side.


 @Brie Schmidt Noted on the recommendation. Also appreciate the additional information about the 5% Down Program with no income limit (was not previously aware of that resource). Thanks again!

Post: Chicago FHA Lenders Recommendations

Matt MichaelsPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 39
  • Votes 6
Quote from @John Warren:

@Matt Michaels my lender is @Joshua Jones. I have done eight loans with him personally and he is the best. 


 @John Warren Thank you for passing along your contact and look forward to connecting!

Post: Chicago FHA Lenders Recommendations

Matt MichaelsPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 39
  • Votes 6
Quote from @Tom Shallcross:

@Matt Michaels - I've referred buying clients to either Sam Sharp or Teddy Kon for this, happy to make an intro to either if you'd like. 


 @Tom Shallcross Would greatly appreciate an introduction to Sam Sharp - thank you in advance for the consideration!  

Post: Chicago FHA Lenders Recommendations

Matt MichaelsPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 39
  • Votes 6

Hello BP community!

In process of purchasing my first rental property in the Chicago area and seeking recommendations for FHA lenders you have worked with previously? Or, lenders who can offer creative solutions for an individual looking to put down between 3.5% and 5%.

Thanks in advance and hope to hear from you!

MJM

Post: Tenant Guest with Medical Marijuana Card

Matt MichaelsPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 39
  • Votes 6

@Berenger Greer Thank you for the insight on the above and one follow-up question.

Is there any specific evidence I would need to support the claim smoking is happening inside the residence? Said another way, my concern would be my claim is that the smoking is being done in the house while the tenant / guest would argue it is not happening in the house, rather the smoking devices are just laying around overnight which contributes to a slight odor in the morning but not enough to support the claim actual smoking is happening which would be a silver bullet for Lease violation.

Let me know if the above makes sense or if I can provide additional information for clarification!

Post: Tenant Guest with Medical Marijuana Card

Matt MichaelsPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 39
  • Votes 6

Hello Bigger Pockets community!

Reaching out as I encountered an issue I have never dealt with before and am looking for advice on guidance / next steps.

Background: I have a tenant [signed on a lease] who has a boyfriend [not signed on the lease] who stays over at her apartment at night. The tenant informed me her boyfriend has a medical marijuana card. The house is a top/bottom duplex with the tenant living on the first floor and my girlfriend and I living on the second floor. Written into the signed Lease Agreement is a "Non-Smoking" policy which prohibits smoking inside the residence at any time.

Issue: Recently my girlfriend and I noticed a marijuana smell in the mornings once we get up. It has been varying degrees from our whole apartment smelling [i.e. every room reeks] to more recently being one specific location in our apartment on the second floor, which would be a small pantry closet on the first floor. This closet is not big enough to smoke in so I am assuming the smoking paraphernalia / marijuana is being held in here overnight.

Questions: Is there legal action I can take against the tenant signed to the lease due to her guest not complying with the rules [assuming smoking is happening inside the residence when our whole apartment smelled]? Is there any way to prove this specifically and not just be the "Landlord said this, the Tenant said that" type of situation? What laws should I be aware of since the tenant's boyfriend has a medical marijuana card? Any other information / guidance you can provide would be very helpful [and much appreciated]!

Please note, I think the tenant signed to the lease is actually a really good tenant and the issue does not reside with her, it is her boyfriend who is the problem so trying to understand what the jurisdiction / reach I am able to affect is regarding this situation. Obviously, it is not in my or the tenant's interest to go through the eviction process but my girlfriend is sensitive to the marijuana smell and I don't want my tenant's boyfriend to be conducting activities that is in violation of the lease.

Post: Pittsburgh Plumber Recommendation

Matt MichaelsPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 39
  • Votes 6

Hello BP community!

For my fellow Pittsburgh real estate investors was interested in what local plumbers you recommend for interior plumbing work? The rental is pretty old and the plumbing in the basement is starting to show blue corrosion on the pipes and I am concerned this will lead to bigger issues in the future.

I don't feel comfortable taking on this as a DIY as I believe there will need to be soldering done to remove/replace some sections. Ideally it would be a plumber who I could pay a little extra and have him/her "teach me" while they are completing the job. I think this would be a great way to learn as I know very little about these types of repairs.


Appreciate any personal recommendations you can share for plumbers you have worked with in the past. Thank you in advance again and stay healthy/well!


All my best,

MJM 

Post: Asphalt Paving Contractor Request in Pittsburgh, PA

Matt MichaelsPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 39
  • Votes 6

Hello BP community!

I am looking for personal recommendations if you live in the Pittsburgh, PA area and have used asphalt paving contractors for work on your personal or investment real estate portfolio.

See below for description of work needed:

New blacktop installation for two parking spaces at the back of a residential property. Need the blacktop to blend in with an existing section of blacktop to the land have the correct grade to drain to the drainage system behind it. Property is in the Mt. Lebanon municipality. Would like to schedule the estimate soon and get on the installation schedule within the next month or month and a half.

Please let me know if I can provide additional information and I look forward to hearing back with your recommendation!

Post: Chicago Duplexes Costing Models

Matt MichaelsPosted
  • Rental Property Investor
  • Chicago, IL
  • Posts 39
  • Votes 6

@Crystal Smith Thank you for taking the time to respond, I appreciate the information, and I look forward to receiving your PM!