Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Mark F.

Mark F. has started 4 posts and replied 308 times.

Post: What Was Your Worst REI Blunder of 2019?

Mark F.
Posted
  • Rental Property Investor
  • Elgin, IL
  • Posts 324
  • Votes 267

I'll jump in - letting my contractor do complete renovations on T&M and not giving a bid, said my jobs were "too big to bid" - 3 month renovation took 4.5 months and a 2 month renovation took just under 4 months. Lesson learned, never again! 

Post: Question on Interest Payments

Mark F.
Posted
  • Rental Property Investor
  • Elgin, IL
  • Posts 324
  • Votes 267

Yes you should receive an end of year statement (1098) for any interest payments made if it is from an lending institution, now if it was private money that may be a different story if they - not if they should.

Post: Cringeworthy self promotion on BP

Mark F.
Posted
  • Rental Property Investor
  • Elgin, IL
  • Posts 324
  • Votes 267
Originally posted by @Joe Splitrock:
Originally posted by @Marcus Johnson:

The thing you have to remember about any forum is that because you have no way to vet each investor you have to believe that what they’re saying is actually true. So how much of it is really true

 There is a famous quote from Abraham Lincoln, "Don't believe everything your read on the internet."

Ok @Joe Splitrock - now that's funny, love it!

Post: New Member from Mchenry, Illinois!

Mark F.
Posted
  • Rental Property Investor
  • Elgin, IL
  • Posts 324
  • Votes 267
Originally posted by @Zack Karp:

@Mark F. thanks Mark!  Hope all is well and happy holidays! :)

 Hey Zack, all is well and happy holidays sir - reminds me I need to email you and ask you about something I read/saw about holding time/seasoning periods and get your professional opinion.

Post: New Member from Mchenry, Illinois!

Mark F.
Posted
  • Rental Property Investor
  • Elgin, IL
  • Posts 324
  • Votes 267

@Sergiu Micula I also recommend @Zack Karp for conventional mortgages, he and his team are top notch and definately investor friendly, I've used them many times and have always been happy with their services.

Post: New Member from Mchenry, Illinois!

Mark F.
Posted
  • Rental Property Investor
  • Elgin, IL
  • Posts 324
  • Votes 267
Originally posted by @Sergiu Micula:

@Mark Faustrum thank you!

Of course, if there is anything else you need of have questions about don't hesitate to ask, we are not that far apart from each other. 

Post: New Member from Mchenry, Illinois!

Mark F.
Posted
  • Rental Property Investor
  • Elgin, IL
  • Posts 324
  • Votes 267

@Sergiu Micula welcome and best of luck with your REI endeavor, I also second the vote for @Joe Mueller he is a wealth of information and an invaluable resource as well as he has his hands in many aspects of real estate investing. Check out his meetings, learn what you can there and on here and jump into the pool. 

Mark 

Post: Wholesale/ Investor Friendly brokerages in Illinois

Mark F.
Posted
  • Rental Property Investor
  • Elgin, IL
  • Posts 324
  • Votes 267

 I second the vote for @Joe Mueller - stand up guy with a wealth of knowledge and has his hands in may facets of REI.

Post: How to write an offer with the intention of creating an LLC

Mark F.
Posted
  • Rental Property Investor
  • Elgin, IL
  • Posts 324
  • Votes 267

@Jon K. I agree with @Max T. - pu the offer in as your name and "closing entity TBD" and you are covered. My HML lender uses that verbiage in my POF letters and I've never had a issue with it at all.

Mark

Post: Tenant Paid Late and Different Amount

Mark F.
Posted
  • Rental Property Investor
  • Elgin, IL
  • Posts 324
  • Votes 267

@Christina Martinez correct you can not change the terms of the lease but I do caution you that IF you end up taking the matter to court do not to ask for the daily late fee or be prepared to get spanked by the judge, verbally that is =)