All Forum Posts by: Nathan Mount

Thanks for the replies.

For tenant 1,  with a co-signer on the lease, at what point should I contact the co-signer to step in, or at least make them aware of the situation?

Here's my scenario, and am looking for some help figuring out how to handle it.

2 units - leases end on Oct 31.

unit 1 - renter came to us last week saying she wants to apply for rental assistance thru the state of Indiana because she's not working as much due to Covid.  She has consistently paid her rent, early, but now she needs until the end of Sept to pay this month.  She has a co-signer on the lease, which in my eyes, should take up the slack.  Do I contact the co-signer?

unit 2 - renter said he needs to pay Sept in 2 installments, which is fine with me.  But I'm worried he may have a steady income any longer due to the pandemic.

I don't want to renew leases if neither of them can pay.  Should I just give them notice now that we won't be renewing their leases?

Thanks

Hi there, I'm looking for recommendations for RE attorney in Northwest indiana.

I recently purchased a rental property in my name, with a partner and would like assistance either transferring to our partnership LLC, if permitted, or drafting an agreement for the property separately.

Many thanks in advance.

-Nathan 

I have recently toured a house in my neighborhood, and Id like to get some estimates for a complete gut rehab before I make an offer in the house.    

Can anyone recommend a local GC that would be willing to do a walk thru with me?

Thanks 

Can anyone recommend an attorney in Northwest Indiana?   My current attorney doesn't focus on RE and I feel I could be better represented.  Thanks in advance!

I have a rental property in my LLC (partnership) financed with a commercial loan. I want to refinance with a personal mortgage to boost our monthly income. What are my options? I've read that I could deed the property into my name, refinance, then move the property back to the llc. Am I correct in this line of thinking? Should I talk to a real estate lawyer first, or my cpa? Do I start calling lenders after that?

Thanks in advance.

Was the leaning of the building concealed in any way?  Was your offer contingent on the inspection? 

I'm trying to do an analysis on a 4 plex, that I'd go in on with my partner.  When we finished our last deal (new construction duplex) the bank could only offer us a 25/yr mortgage since we are a business entity.  

Is it even possible to get a 30/yr mortgage in this same setup?  We split 50/50, so I'd be hesitant to put in solely in either of our names.  

Any help or insight would be appreciated!

Started a consulting gig that didn't make as much in 2018, but did extremely well in 2019, and will continue to do so this year and beyond 

I want to try to secure an FHA Loan for a house hack, multi unit home in Chicago. Ideally a 3 flat, with at least 3 units, but 4 would be better for cash flow, obviously. These are not cheap.

I made really good income in 2019, but 2018 was about a qtr of that.  2017 was closer to 2019 income. Should I wait to apply for a loan, until I get my 2019 taxes completed, in order to get a higher line approved?

Thanks in advance.