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11 February 2025 | 13 replies
This could be an opportunity to add value by offering to help with clearing or relocating those items as part of any potential agreement.Why This Could Be a Good Move for YouYou see long-term potential in the property, especially with the large lot and development possibilities (even if those are years down the line).As the current tenants, you have the advantage of a direct relationship with the landlord and familiarity with the property, reducing competition and risk.This could be a chance to lock in a property that you might otherwise lose if it hit the open market, especially in today’s competitive environment.Challenges to ConsiderIf the landlord is emotionally tied to the property or reliant on rental income, they may be reluctant to sell.Financing could be tricky, especially with today’s interest rates and the gap between the current rent and what a conventional loan might cost.The development potential you’re interested in is likely a long-term play, which means the property could be financially tight in the short term, especially if you’re only breaking even or slightly negative on cash flow.Structuring a Potential DealTo make this feasible, you’ll likely need to explore creative financing options that align with both your financial capacity and the landlord’s goals.Seller Financing: Propose a deal where the landlord acts as the lender, allowing you to make monthly payments directly to them.
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31 January 2025 | 4 replies
We were working with this agent early last year and signed an exclusive buyer agency agreement that expired June of last year.
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3 February 2025 | 31 replies
Im a firm believer in purchasing rentals.
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18 February 2025 | 13 replies
I don’t know your exact market but where I’m at the top agency makes Facebook and Instagram posts daily.
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29 January 2025 | 9 replies
Purchase price: $250,000 Cash invested: $14,000 I purchased and managed a rental property in Chicago, focusing on strategic improvements and tenant satisfaction to increase both its value and profitability.
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31 January 2025 | 21 replies
Hey Jimmy- I'd be happy to discuss how things are in Beech and what the short term rental market looks like.
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5 February 2025 | 13 replies
Here's the City link for you to reference. https://www.chicago.gov/city/en/depts/doh/provdrs/homeowners...1) ADU regulations specifically exclude Short-Term Rentals so don't do it if the intention is to short-term rental. 2) The ceiling height oh 6'10" is almost guaranteed to trigger digging a basement if you want to formalize as an ADU unit, especially if that height is further reduced by pipes or HVAC. 3)Ingress/egress is an issue for renting, as is that any bedroom also will need two (ie operable window/doorway).
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11 February 2025 | 3 replies
The planning staff should be able to walk you through any options for zoning changes or variances if there's a way to make short-term rentals work in your case.
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3 February 2025 | 1 reply
I’ve been diving into the idea of investing in midterm rentals in Portsmouth, VA, and surrounding areas like New Port at Victory, Cavalier Manor, and Waterview.
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17 February 2025 | 4 replies
You can go with a budget friendly option at HD or Lowes, there's nothing wrong with those options for a rental water heater.