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10 December 2024 | 100 replies
Preferably, buyers would directly bear the cost of their representation.
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4 December 2024 | 33 replies
I have sold many CA buyers our more expensive out of state deals though which run great, for example north side chicago 4 units 800k+ that cashflow with great tenants 700+ scores.
26 November 2024 | 7 replies
Hi, As a property manager (based in Chicago), I have to say the screening process is paramount, because its the start of your relationship with various prospects.
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30 December 2024 | 819 replies
@Will Zena the big question I guess will be are there any deposits to get.. most of the PM's I have seen flame out did so for commingling IE security deposits rent goes missing.
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7 December 2024 | 150 replies
Counted this as a 45k asset but in truth it could be slightly higher or lower, there is a lack of inventory in this market so I am hopeful it will go for more but I am budgeting 45k.Deal 4 Bought an REO for 12k, rehabbed and all in for 20k, property value is 60k, posable more if we sell as a turnkey to a CA investor.Deal 5 Condo in Chicago, bought NP note (owner died in 2007 and nobody has paid since) paid 22k for the note, property rents in that neighborhood are @ 1,100 a month and the property is worth 60-70k based on estimates from a BP realtor in this market.Deal 6 bought a vacant REO for 5k, paid 7k in back taxes and put 18k into rehab, rented for $875 staring June 1st and worth 60k based on neighborhood comps and feedback from our PM/Realtor.Deal 7 Bought a SFR in souther IL for 12.5k, needs 30k in rehab and BPO's came in at 65k and 70k, I counted this as a 20k value since we will need to put more into it.
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2 December 2024 | 35 replies
On the other hand, we are 90 minutes from Chicago, which is nice if you have the big city itch on Saturday night.
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23 November 2024 | 6 replies
How many investment / interest bearing accounts you have.3.
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28 November 2024 | 13 replies
Just bear in mind that trips to Maui involve 'discretionary' funds...A few more things to think about during your due diligence. 1.
21 November 2024 | 1 reply
Quote from @Bruce Schussler: A lot of Podcasts and Youtuber's say to cash-out refinance to keep rents balanced with payment; (PITI) then use those funds strategically to re-invest either in more real estate or just put into a high interest bearing account or money market account...Here's some of my thoughts and comparisons;Cash-out refinance with new loan so rents balance with payment:- The cash-out refinance is 100% tax free- The funds can be put into a money-market account off-setting a portion of the interest charge of loan- The loan balance gets eventually destroyed by inflation- The liquid cash eventually gets destroyed by inflation - The interest on the new loan can be deducted from the rent income- The refinance costs are 3-4% of the total- There is less equity in the property and LLC that can be attached in case of a lawsuit- The break-even on cash-out refinance with current interest costs on the new loan is around 12 years Vs.Paid-off property with positive cash flow:- The positive rent income is 100% taxable minus only depreciation and property tax- There is more equity in the property and LLC that can be attached with a lawsuit- The break even is not until after 12 years at today's interest rates- There is a rate risk in today's inflationary environment where interest rates on bonds keep rising*It appears to me that the cash-out refi is in the best interest for a property investor; (Dave Ramsey would strongly disagree!)
21 November 2024 | 5 replies
@Camila Cabrera just DMed you a great Dupage eviction attorney who handles Chicago and suburbs!