All Forum Posts by: Will Tse

@Crystal Smith love it ! You really know what you’re taking about !

@Justin Brickman

10 is great especially when there all paid off but it’s not the number of rentals or doors . It’s the amount of cash flow you get from them and how you need to live off and to support the needs and/or wants of life/live .

If it’s just you , family , kids wife etc . Location Midwest or cail etc .

I have an issue .

Subject property (3 unit condo building in chicago

Which I’m trying to sell , have it professionally staged and fully rehabbed 2 months ago

I own a duplex down 42% of the building

We ran into an issue with the unit above me stating that water had leaking form his kitchen sink . ( he stated that he water “dripping “ before he left for a 7 day vacation). So when he came back he noticed that water flooded the area to the floors .

This eventually leaked into my bottom unit .

Ceiling has obvious damage with water lines and traveled to my hardwood floors and it’s surrounding perimeter . The floors are warped and raised.

So unit 2 is blaming it in unit 3 because he pipes are apparently clogged.

Unit 2 did call a plumber to come out , we are waiting . But at the same breath unit 2 is also stated that this is "common pipe " , so he's is indirectly hinting this can be claimed under the HOA issue

Looking to potential lender who will Work with me for a non QM loan . Or any other products that can help me close on a SFH In Naperville Il

Had angel oak but according to my loan originator they stop locking in rates as of 3/31 .

I know some lenders will not lock rate for 30 days until appraisal in complete and full compliance before we get CTC .

Most / or some non-QM products require appraisal before the lock in the rate correct? We are locking Non-QM rates when the loan is conditionally approved.

So after the appraisal, title hoi is back…?

Why do some do this and some lenders don’t ?

This is my first time looking into a non QM loan

Would have done a DSCR loan that I've used from my other rental properties. This house that I have a contract on SFH that I'll be living in.

Any advice from the Bigger Pockets community great





@Dwight Cook

Best thing is to give notice now regarding that you have to increase rent but after winter and explain to them the many reason why .

Easy to find better tenant and easier to re rent shall they decide to leave

Some may start looking and realize it’s justified and may just decide to stay . Something for for them to ponder on

Be firm and don’t let them walk all Over you if it came to it lol at this as Buisness and at it objectively.

@Joe Villeneuve

@Greg Todrank

I recently did that On a set of two Duplex ranch Multi unit . ( total of 4)

I and Had another guy with me turn our initial showing. All four are long-term tenants .

aside from cosmetic updating.

They put me ahead of the deal

I asked for full disclosures

knew that I already insulated myself with 30 K , Because I knew it was under market value

So if any repairs come up after closing or unexpected I have a least a good enough cushion on the buy side so if any issues comes up I’m still ok .

@Jason G.

I agree! something here . The class is here in Chicago are around 40 K ! I could not wrap my head Around it . I instead put that towards an investment property

@Kiel Martin

I follow the same model

@Bruce Woodruff

I’ve got homes in Illinois I’m c+ & B- areas for that price last year but I agree 2021 it’s impossible now unless it’s s class areas