All Forum Posts by: Mark F.

@Sharon Miller - don't keep us hanging, lol.  How did it go?

@Clint G. - gotcha, well good luck sir 

@Clint G. just post it for rent on FB marketplace and Zillow, etc - forget the MLS listing, most tenants aren't checking the MLS anyway, they are looking on Zillow, Realtor.com, Facebook, etc.

@Clint G. I've done it - had closing scheduled at 1pm on a Friday, left there at 3pm and held an open house for interested tenants from 430-6pm and had the house rented out within 2.5hrs of buying it..... had the painters and flooring guy in that week and new tenant took posession the following weekend.  Doesn't get much better then that  =) 

@Mark Ainley - awsome, congrats and I cant wait to hear them all!

@Mark Ainley - both are good, I'd go with #1, I think it stands out a bit more.

@Jay B. I'm sorry to tell you this but if they were already 2 months behind before the pandemic hit they aren't going to pay you anything and know that you CAN'T evict them right now. Under normal conditions the cook county courts are back up months for evictions, add in that they have been closed for the last 6 weeks and it might be 4 months after you file before you can even get a court date. I understand that the City of Chicago has certain restrictions as well that might make the process even more difficult. 

They are ignoring you because they have no intention of paying.......   you will be stuck with them for several more months and I am certain they don't/won't care about your threat to evict. I've been there, it was before the pandemic and the case can be dragged on for months by the tenant just saying they need to get a lawyer, "abc" happened (insert reason) and the judges will grant continuances at least 2 times from you initial court date which means at best case scenario the judge will hear your case on the 4th time back to court typically with 1 month between court dates.  

I hope I'm wrong but I have a feeling I'm not 

@Brian Detlefsen I am in Elgin also, just signed a lease on this past Friday and they will take possesion at the end of this week. If the unit is vacant that is best, otherwise if it occupied you can ask if they mind if you show the property before they move out but all things considered I'd just wait until they move out and show it during the turnover period (paint, repairs, cleaning, etc).

As mentioned above, post previous move in photos to get leads, I think nearly everyone will understand the safety concerns and work around it. 

Mark

@Marci Stein I'd compromise, let her know that since she declined you had listed the property for $1100 a month and you have several people interested in it at that rate, even show her the listing/responses if you'd like to show her you're not bluffing. Tell her at this point you'd come down from that rate and she can stay but rent will be $1000 a month, she will accept it or not and move. You will save the turn over costs (paint, cleaning, minor repairs, carpet cleaned, etc) and will most likely be a wash for the year all said and done plus you already know the tenant, how she pays, how she takes care of he property and more times then not that is better then the unknown....

Just my thoughts.

Mark

@Anyssa Volarath and I will add in @Zack Karp if you are looking for a good investor friendly conventional lender, I've used him and his team several times and they are always top notch!