21 March 2022 | 3 replies
Why couldn't you just buy elsewhere and do it differently so as to avoid that issue you had before.Why o why do you want to want to buy a 1 bedroom hi rise condo as your only rental property?
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20 April 2022 | 22 replies
Quote from @Tom O.: The one thing I found really helpful in getting tenants out (and you really don't want to even think about eviction in Cook County these days) is cash for keys.
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25 March 2022 | 3 replies
Quote from @Tom O.: Quote from @Jaryn Pierson: Hi AllI have a 6 family apartment building I've been starting to look a little deeper into.
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25 March 2022 | 2 replies
Including the issue of some E&O coverages not supporting an agent's personal transactions when the agent is selling their personal property.
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28 March 2022 | 17 replies
Purchase Price: $170,000Option 1: 20% Down / Loan Amount $136,000.00, 30 YR FIXED6.00% charging 1 point or $1360.005.500% charging 2 points or $2,720.00The breakeven point between the two options is 2.7 years or 33 mortgage payments.Option 2: 25% Down / Loan Amount, 30 YR FIXED5.750% w/o points4.990% charging 2 points or $2,550.00The breakeven point between the two options is 3.5 years or 42 mortgage payments.Option 3: Use HELOC funds to purchase the property all cash with %2.55 interest onlyWith this option, I can always refinance when the interest rates get better in the next couple of years hopefully.
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30 March 2022 | 5 replies
@Allen McGlashingThe lenders is work with can do C/O at four months but limit the LTV to 65%. at 6 months it’s 75%
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31 March 2022 | 22 replies
I/O for the first 10 years and then a 30 year fixed after that for a 40 year amortization.
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12 April 2022 | 1 reply
Professional Liability (aka Errors & Ommissions or E&O) - if you are managing and also selling make sure the policy covers both operations2.
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19 April 2022 | 28 replies
Check with the title agent you're dealing with and confirm they've already checked with the underwriter and have been told not to rely on one to issue a policy w/o exception for lack of probate for this sale.