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6 February 2025 | 7 replies
If they're doing anything another tenant would complain about I send them a written warning and the minute another tenant complains is when I'll double check to see if I can file eviction for that specific thing and give the tenant three days to knock it off.
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14 January 2025 | 1 reply
Security deposit will take care of the last month of unpaid rent, but I'm considering filing a small claims court lawsuit to get a judgement for recoverable damages.
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20 January 2025 | 57 replies
Much better than a legal filing or media attention.
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9 January 2025 | 5 replies
A and B neighborhoods typically don’t produce much cash flow and are more of an appreciation play—something the city has been seeing quite a bit of over the past decade.
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30 January 2025 | 6 replies
I think I have a generic contract and assignment in my files.
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22 January 2025 | 12 replies
Recently over 165 lawsuits were filed in Chicago against small landlords who declined Section 8 tenants.
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29 January 2025 | 7 replies
If you were able to increase the value of the property significantly after the rehab, then you could bring the deal to a community bank to refinance and take the hard money lender out.You keep all the equity and don’t have to file a partnership return for your annual tax return, which can be costly.
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23 January 2025 | 7 replies
A knowledgeable attorney can advise here.Create a solid operating agreement: Since you own the condo with a friend, a clear operating agreement is essential to outline responsibilities, decision-making, and profit-sharing for the LLC.To save on costs:Look for real estate attorneys who specialize in investment properties and might offer package deals for the retitling, operating agreement, and filing the LLC.Shop around for title companies that can handle the transfer smoothly and provide competitive rates.Research DIY options for setting up the LLC if your situation is straightforward, though I’d still recommend a lawyer for the transfer process itself.Good luck with the process!
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17 January 2025 | 2 replies
This allows for proper retirement of assets.If a property has already been sold it may still be a good candidate for cost segregation as long as you sold the building and have not filed the tax return.
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19 January 2025 | 55 replies
Have filed it everywhere, currently my local sheriff is working the case.