All Forum Posts by: Nolan Mahoney

Hello, future landlord here. So i live in Illinois and i am looking to house hack and ive been re reading managing rental properties and im trying to find out what counts as discrimination when it comes to the new SOI rule in IL. So basicaly i cant find out where they get their income from but can see if they have a job and contact their employer to verify they work there? or can i not ask if they have a job or a legal source of income at all? Also ive heard talk of you cannot discriminate against someone who is a non legal U.S. Citizen from renting from me? 

I would like to try and find the specifics to these question online but no luck so far. Anything helps, Thanks!

I came across this dupelx that the seller preferes owner financing. The property is going to need work in the 1st unit and some exterior aswell. for example on the interior it will need (from what i can see on MLS) is Drywall celing, new stove and a new door and the miscellaneous. As for the out side it will need some chimney work, aslo looks like a crack in the foundation and some paint.

How would these repairs go with seller financing? Who would pay? If there are any books you could recomend or any advice would be great, thanks!

Hello, i came across a duplex thats for sale. id like to house hack it but its on unincorparated land next to a nice town. Anyone know the pros / cons of buying a rental on unincorparated land?

 What markets near chicago? im currently looking to buy a little outside of the city.

any meetups for the chicago suburbs investors?

 This is going to be for my first purchase this upcoming march.

Since the new 5% down payment came out i am currious if the rents from a 2-4 unit owner ocupied can be used as income to help qualify for the loan, like you can with FHA financing.

What do you expect as of schools? Obviusly crime. But what about the population decresing? I'm looking to get my foot in the door with house hacking and since im in IL im sure alot of people know that the population is decresing YOY. Most of the cities im looking in like Elgin, Aurora, St.Charles ETC are decreasing about 0.5% YOY. How concerned should i be with this? 

 Ah I mean to say i see two properties a day and a winner once in a while. 

 Thats a great idea. Let me check it out and ill get back to you.