All Forum Posts by: Mike B.

@Jonathan Klemm Are you saying this is available or just bragging?

@Rod Atkins Can you share the address to your listed property? 

Hi All, I could really use a snow removal referral. The company I've been using just told me they wouldn't be able to do it this year. Suggestions would be greatly appreciated. Thanks

 You're more comparable to 1519 Stewart (CTG @ $449k) than the higher priced stuff that sold...you have a finished basement so you'll probably end up +$15k-$20k over wherever Stewart lands. You bought right @ $220k but your $230k rehab cost is outrageous for that size house. Stevie Wonder could see that this isn't a 2,750 sq ft house. Your taxes have you at 1,146. I think you're a victim of over-improvement. Do not put another dollar into this property because you won't get it back. Also, a 1 mile radius is a very aggressive comp range. In the future I would stay inside the busy streets to get a more defined comp area.

Bottom line, know when to cut the investment and move on. One of the worst mistakes we can make as investors is to continually throw money at a loser thinking that will change the outcome for the better.

Thanks for the responses, guys. We were able to get a lender that can perform in 7 days shortly after I posted this. Thanks again!

Does anyone have a resource for an entity that can perform a quick short term refi? The property is a legal 2 unit in North Center (Chicago)...a half block from Coonley Elementary. It produces $3,900 mo. No current mortgages or liens. Estimated value $750-$800k. $400k needed for a time sensitive purchase. Bank financing has already begun but won't be able to close for 30 days. Need a short term solution. Thanks

@Jin Lim I put 40k miles on it the first year and approx 110k miles to date. I've owned it since 2014 and have taken a hit to the tune of $85k+ in depreciation. I drive way too much to own a nice car.

I drive a 2014 Audi A8 TT 4.0L...without a doubt the worst purchase I've ever made. If I could do it all over again I would have bought a Toyota Camry.

Yeah, the problem with this post is that once I put them out there they'll be too busy to work on my jobs. I took too many losses finding them to hand them over.

What if your roommates didn't have a lease and simply contributed to your car payment or any debt that doesn't go directly to the mortgage? I don't know much about traditional lending, just thinking outside of the box.