All Forum Posts by: Meleneal Cameron

Thanks for your response,

Yes I was reading about the Illinois Real Estate disclosure form regarding selling property.  But I was wondering what constitutes the seller being unaware? Especially since on this disclosure one of the points mentioned is regarding the condition of the chimney. Is it standard practice to guesstimate or do should you actually evaluate before you sign off that something is in good condition?  Just asking because this obviously is a lesson for me too going forward

I'm a newbie investor. I started out by first buying my own home. It is a 2 story Chicago brick Georgian. I house hacked and was able to use other people's money for my down payment. I went through the typical process, hired an inspector, attorney, had appraisal done etc. There were some things that needed to be done prior to closing - One of them was to hook up washer/dryer - that was included (price added into the sale of the home). Well the hook-up materials were there and we were told we just needed to connect everything. I have since found out that we don't have proper plumbing in basement for washer hookup.

I've only been in this home 2 weeks so far and last week my chimney collapsed. The home inspector did mention at some point I would need to have the back of the home tuck pointed, although he said that it wasn't crucial at this point. Can I get the seller involved in repairing it. Should I contact my attorney. Any advice would be greatly appreciated.

Here's the information for anyone living in the Roseland, Rosemoor, or Pullman Area

https://medium.com/chicago-cityscape/the-program-to-buy-city-owned-parcels-for-1-is-returning-for-round-2-61203f578bd9#.1caqitoen

I am a newbie and might not know what I'm talking about, but there may be others like IHDA.ORG here in Illinois - although down payment assistance is only offered for certain counties here.

Looks like there are other areas that offer this too.  http://www.nhfloan.org/programs/dpa.shtml

Okay thank you!  I'll be giving you a call

Hi there,  

I was wondering if anyone could share with me the basic steps to start up  a corporation to protect my future property investments in Illinois.  I've been all over the web and reading forums and now I'm completely confused.  I just want a basic start up that I can build on once I began to actually purchase property under the corporation.  So far, I know I need to establish a corporation, acquire a business license and EIN # and a business bank account.  Is there anything else that I am missing?  Thanks in advance for your advice :)

Okay that would be awesome.  I'm only interested in the area of Chicago Heights that's close to the Olympia Fields area, and also the historic Circa area around the hospital. Those are very stable communities - taxes tend to be higher in these areas...

Hi team,  

Property is cheap in Chgo Heights - market hasn't bounced back yet.  Taxes are still high in some areas.  I found a 2 flat for 129,000 great condition - currently occupied - gross rents are 2,300 - only issue is that taxes are $7,800 annually.  

Do you think this is a good investment?

I'm a new investor looking for properties in the South Suburban area of Chicago.  I'd like to get in touch with you to further discuss your services.