All Forum Posts by: Patrice Boenzi

@Account Closed most states are tenant friendly! What are you trying to do? Do you currently have a properties? Would love to hear your goals.

@Lesley Resnick the loan officers I work with are still writing and some are actually busy! 

@Ami Moore I do not. You should look in the Realtor area of BP and reach out to someone in that area. Good luck!

@Chad S. glad it worked out!

@Michael Facchini thank you for all that information! We had a house under contract, FHA, everything changed and contract fell because of the changes to the FHA requirements.

@Anthony Angotti we were considered essential right away and then more recently the rules I posted where put in place.

@Chance Badertscher thanks for the additional information! Stay healthy!

@Abel Curiel our son is a Realtor in Michigan and all real estate has been shut down. It is definitely difficult, but my office is a cloud based office so I am used to working from home. Our team already utilizes the 3d Matterport camera and have become a Zoom advanced user lol! Stay safe and healthy!

These are difficult times and it seems things are changing quickly. Under the Stay Home order Realtors are considered essential employees. However, not all Realtors are showing properties and operating at full throttle. 

The DECO has added new language to what we can and cannot do. Did you know, in Illinois, we cannot show a property with a tenant in place EVEN if the owner and tenant give us permission? No open houses, no more than 4 people in a property at once and we have to use the 6' social distancing while there. Also, some home inspectors are not allowing anyone in the property with them during the inspection. Some appraisals are being done as "drive-bys", some closing are also being done as "drive-bys" and most Title Companies will only allow the signer into the office. 

Do you have any questions? I would be happy to try to answer them, if I can. 

Here is a blurb from the Illinois Realtors President Ed Neaves

Are real estate open houses and showings permitted? According to DCEO, it depends.

• Open houses are not permitted.
• Showings of occupied rental properties are not permitted.
• Showings of vacant or owner-occupied units are permitted if necessary and scheduled in advance (virtual showings are preferred) but limited to no more than 4 people.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $107,000
Cash invested: $30,341

Purchased a duplex and asked for it to be vacant upon closing. We (my partners and I) will do some minor updates to get the property city certified. Once it is city certified, we will rent it out. This will be a great property with wonderful cash flow!

What made you interested in investing in this type of deal?

The potential for appreciation and cash flow.

How did you find this deal and how did you negotiate it?

My Realtor - as-is (as always).

How did you finance this deal?

Conventional financing

How did you add value to the deal?

We were able to give the previous owner the funds they needed and closed quickly.

Lessons learned? Challenges?

With each deal together our team is learning to run more smoothly, trust each others strengthens and move faster.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Realtor