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All Forum Posts by: Trevor K.

Trevor K. has started 6 posts and replied 74 times.

Post: Newbie from Montgomery Illinois

Trevor K.Posted
  • Investor
  • Wheaton, IL
  • Posts 77
  • Votes 17

Welcome @Ryan Rippinger I bought my first house in Montgomery, and I know there are opportunities for you out there. Go get 'em!

Post: Pet Restrictions

Trevor K.Posted
  • Investor
  • Wheaton, IL
  • Posts 77
  • Votes 17

No cats. I allow any dog that is friendly. They need to bring the dog when they apply. I do not know why some people restrict the size of a dog. I have never seen any correlation between size of a dog, and size of damage.

Post: The 90 Day Challenge

Trevor K.Posted
  • Investor
  • Wheaton, IL
  • Posts 77
  • Votes 17

Do you have a down payment? A good agent will be happy to start sending you info via email. It takes them 5 minutes, and you may end up purchasing something. I wouldn't advocate wasting their time if you don't know if you can purchase just yet, but you should get the ball rolling. Tell the agent your situation, and if they don't want to work with you, they will tell you.

Post: support dogs what can and cant I do

Trevor K.Posted
  • Investor
  • Wheaton, IL
  • Posts 77
  • Votes 17

Those are pretty broad standards for a "support" animal. That is going to be abused as more people become aware they can go to a doctor, and get a note that gets them out of any pet restrictions for any apartment they want to move in to.

Post: The 90 Day Challenge

Trevor K.Posted
  • Investor
  • Wheaton, IL
  • Posts 77
  • Votes 17

Call some agents today. Seriously, just call some agents. They will email you a list of properties, and you can be viewing them as soon as tomorrow.

Post: How to structure your offer Cash offer?

Trevor K.Posted
  • Investor
  • Wheaton, IL
  • Posts 77
  • Votes 17

You can put any kind of contingency in the contract you can think of. I have done as long as a 21 day inspection contingency. The home had foundation issues and I wanted to make sure I had time to get an expert to see it. In my opinion the termite inspection is just part of doing business, and you just need to pay for it. However you could submit the offer with a contingency that they pay for a termite inspection, by a professional of your choosing. I would also include a figure. Something like "not to exceed $250." Or whatever it costs in your location.

If they accept your offer you will have a limited time to have an inspection done. As long as you find those issues in that time, you should get your earnest money back by any legitimate entity.

Post: Inheriting a section 8 tenant

Trevor K.Posted
  • Investor
  • Wheaton, IL
  • Posts 77
  • Votes 17

No problem @Frank M. thanks for the advice.

Thanks, @John Weidner I read about that a while ago. I am in DuPage, and we do not have those restrictions.

Post: Inheriting a section 8 tenant

Trevor K.Posted
  • Investor
  • Wheaton, IL
  • Posts 77
  • Votes 17

Thanks @Frank M. I guess I should have been more clear about my question. I am wondering more about dealing with the housing authority, not the tenant.

Post: Inheriting a section 8 tenant

Trevor K.Posted
  • Investor
  • Wheaton, IL
  • Posts 77
  • Votes 17

Thank you @Steve Babiak I will contact the housing authority.

@Marcia Maynard I have been a landlord for 3 years. That is not long compared to many people here, but I have had good success. Section 8 does not fit my business model. My strategy for rentals is to find undervalued homes in good areas, and rehab them with high end furnishings. I also fundamentally disagree with the program, and I am not willing to invite bureaucracies into my business.

Post: Inheriting a section 8 tenant

Trevor K.Posted
  • Investor
  • Wheaton, IL
  • Posts 77
  • Votes 17

I understand why some landlords love section 8. I have many reasons why I will not rent to section 8, but I did not start this topic to get into a debate about the pros and cons of section 8 tenants. I would really like it if anybody who has ended a lease with a section 8 tenant to share his, or her experience in doing so. Thank you!