All Forum Posts by: Yusuke Koike

Hi,

My name is Leo from Chicago Suburb
I'm looking for a partner and real estate agent who specializes in pre₋foreclosure/foreclosure/short=sale properties.
Someone know any professional in Chicago?

Leo

0 Votes

Quote from @John Warren:

@Yusuke Koike why wouldn't you use a regular conventional loan at that point? If the condo is warrantable, you will get much better terms with a traditional lender.

Hi, John

individual's DTI is considered in the evaluation of a conventional loan
I own two mortgages which are both conventional loans.

Yusuke

0 Votes

Chicago, Illinois

Quote from @Jonathan Klemm:

Hi there @Yusuke Koike - Where at in Illinois is your condo? If you are in Chicago I have some really good local DSCR lenders.

Also, I just saw this post https://www.biggerpockets.com/forums/517/topics/1211717-best... so it may be worth connecting with @Robin Simon

Hi, Jonathan

The location where I'm focusing at is Northwest Suburbs like Arlington Heights, Schaumutg and Elk Grove Village.

Yusuke

1 Vote

Chicago, Illinois

Quote from @Erik Estrada:

Quote from @Yusuke Koike:

Hello,

My name is Leo.

Does anyone know lenders or mortgage company providing a DSCR loan in Illinois?

I'm buying a small condo at $160k-$180k with 20% down.

Leo

Hi Yusuke,

Is the condo warrantable or non-warrantable

Hi, Eric

It's a warrantable cndo

0 Votes

Chicago, Illinois

Quote from @David Ramirez:

I would highly recommend you talk to @Austin James Weed, he is our go to for DSCR and Hard Money Loans.

Hi, Dave

Thank you for your referral!

Yusuke

0 Votes

Chicago, Illinois

Quote from @Brandon Croucier:

Happy to connect !

Just DM to you

0 Votes

Chicago, Illinois

Quote from @Devin Peterson:

Quote from @Yusuke Koike:

Hello,

My name is Leo.

Does anyone know lenders or mortgage company providing a DSCR loan in Illinois?

I'm buying a small condo at $160k-$180k with 20% down.

Leo

Hi Yusuke,

Some of the nations best DSCR brokers and lenders may not be located locally. There are a ton of qualified investment experts who can help you out. I recommend speaking with an experienced DSCR broker that can help you shop and compare all lenders out there.

Thank you Davin, just DM to you.

Yusuke

0 Votes

Chicago, Illinois

Hello,

My name is Leo.

Does anyone know lenders or mortgage company providing a DSCR loan in Illinois?

I'm buying a small condo at $160k-$180k with 20% down.

Leo

6 Votes

Chicago, Illinois

Hi,

My name is Leo.
I own two properties and looking to new deals.
As everyone knows, the current market on MLS is very competitive and then I am looking to a property through foreclosure.com

https://www.foreclosure.com/

I don't know who to contact because the agent contact information is not listed on the website
If someone knows how to contact the property and start showing, please share with me how to make showing appointment.

Leo

0 Votes

Quote from @Matthew Morrow:

Quote from @Yusuke Koike:

Hello,

My name is Leo
One of my investor friend has an issue with his rental property (2 story townhome with HOA)

What was happened to him and the unit is
1) the drain pipe on 2nd floor bathroom was broken
2) water leaked in the 1st floor ceiling and walls
3) in contractors opinion, this problem was caused by just normal wear and tear (already 40 year building)
4) Those pipes are not shared wish other units (service the unit only) and HOA won't do anything or take care of it.
5) it will take 1-2 months for everything to be fixed up
6) Tenant will need to evacuate to a hotel or shelter

I have two questions,

#1 In this case, whose insurance should cover the fee of tenant's hotel while the damages are fixed up? (owner's insurance should cover?)
#2 If the pipes were shared with others, does HOA have to take care of the issue?

Leo

Hi Leo,

Sorry to hear about your friend's rental property issue. Regarding your questions:

1) Typically, the landlord's insurance should cover the cost of the tenant's hotel stay during repairs, as it's considered a loss resulting from the property's condition.

2) If the pipes were shared with other units, responsibility might fall on the HOA to address the issue. However, since these pipes are exclusive to the unit and the problem is deemed normal wear and tear, it's likely the landlord's responsibility.

It's always advisable to review the lease agreement and insurance policies for specific coverage details.

Hi, Matthew

Thank you for your advice.
Finally, my friend decided to sell the property after everything is fixed up since he wants to be released from lots of stress...

Leo

0 Votes

All Forum Posts by: Yusuke Koike

Yusuke Koike has started 15 posts and replied 42 times.

Post: Preforeclosure and Short-sale

Post: DSCR Loan in Illinois

Post: DSCR Loan in Illinois

Post: DSCR Loan in Illinois

Post: DSCR Loan in Illinois

Post: DSCR Loan in Illinois

Post: DSCR Loan in Illinois

Post: DSCR Loan in Illinois

Post: Getting a deal the property in pre-foreclosure and foreclosure

Post: Broken pipes cause tenant not to stay in the property