All Forum Posts by: Mario Morales

I have a W-2 Job and 3 properties, what is the minimum amount of profit or income should my properties generate for the year for a lender to consider me worthy of a loan, all things being equal. I've heard $500-$2000 per building per year. 

@Tim Ryan I should have said the unit is uninhabitable and by rehabbing it will produce rental income, so

a years rental income/ capital invested = CoC return?

I have a three unit building, but one unit needs to be remodeled the other two have been renting out for the past few years.

If I spend X on renovating this apartment to get it ready for rental will the cash on cash return apply ? Do I take a year's rent and the money spent on the rehab to look at my return?

@Sarita Scherpereel so it's in a three flat building, but the zoning says there's only two units the basement unit based on what you said it's not illegal as it hasn't been cited by the city.

Asking for a friend: Has a non-conforming basement, zoning really. 2 exits, 3 br, nice apartment. Can she post it on zillow market place? Where do people post "illegal" basements? It obvisouly wouldn't fly with section 8? Any advice and/or experience appreciated?

Will the Midwest and/or the entire country pay the price again?

I have a garden unit in Portage Park, about 65 x 22 feet. I'm looking into HVAC options and will be adding AC as well. Some are recommending a 2.5-ton system, while others suggest a 3-ton unit. I've heard that oversizing the AC can lead to humidity issues due to short cooling cycles. Does anyone have experience or advice on how to choose the right size?"

I reached out to the tenant and will figure something out, but should i be concerned with the plumbing during the winter months?

I recently received a letter from People's Gas regarding a Landlord Reversion Agreement. After calling them, I found out that the gas for one of my tenants has been shut off due to non-payment. I'm the landlord of a 3-unit building and wanted to know if I should be concerned about any potential plumbing issues (like freezing pipes) or other safety concerns.

What steps should I take to protect the building, and are there any other things I should be worried about in this situation? Any advice would be appreciated!

I've used all of the above and a 1/3 of my tenants were found on facebook market place and have been with me for 4 years. Just have to be careful on how you respond