TERMS- Deal Type: Seller Finance- List Price: $580,000- Purchase Price: $780,000- Seller Carryback: $693,000- Total Entry: $100,000 Breakdown: Assignment: $13,000 Down: $87,000- PITI: $2,657 Breakdown: Principal & Interest:: $2,000 Taxes: $464Insurance: $193- Rent: $5,250 ($750-800 per unit)- Amortization Years: 28.88- Interest rate: 0%- HOA: NONE- Balloon: NONE- EMD: $5,500- COE: Feb 12, 2025- Occupancy: Occupied, Occupants staying post closing- Title company: PROPERTY DETAILS:MULIT-FAMILY7 Units - 2B/1B per unit- Living sqft: 5,200- Year Built: 1940- Age of Roof: 1- Age of HVAC: New- Age of Water heater: New- Condition of Electrical: Good working condition- Condition of Plumbing: Good working condition

Could you recommend a trustworthy and cost-effective company for this? 

We are looking to connect with others to build a solid foundation to our newly started company. 

See the chart from Fair Isaac Company (FICO) below: FICO Score Pct of Population Default Probability 800 or more 13.00% 1.00% 750-799 27.00% 1.00% 700-749 18.00% 4.40% 650-699 15.00% 8.90% 600-649 12.00% 15.80% 550-599 8.00% 22.50% 500-549 5.00% 28.40% Less than 499 2.00% 41.00% Source: Fair Isaac CompanyAccording to this chart, investors should use corresponding vacancy+tenant-nonperformance factors of approximately 5% for Class A rentals, 10% for Class B and 20% for Class C.To address Class C payment challenges, many industry "experts" are now selling programs to newbie investors about how Section 8 tenants are the cure.

I started my career with the renovations team renovating the houses we buy, and with the property management company working with our residents and our maintenance teams.

REI does as good as job if not better than any TK company in the mid west..

People have been dropped by insurance companies in wildfire areas and had to scramble to try to find insurance - some using California Fair Plan. 

@Phillip Austin we've looked into these and it's our opinion they should only be used with Class A tenants, maybe Class B - deifinitely NOT Class C or D tenants.Several companies in this area will no longer allow S8 leases or tenants under 600 credit scores - because of the high number of claims & corresponding claim amounts.

Old post but I figure I would comment here... my Company, Maven Cost Segregation has done studies on projects like this.

Hello, Wondering if anyone knows of a good company in the SW suburbs for snow removal still taking on properties?