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22 November 2015 | 13 replies
Yes, I'm still seeing recording take up to 90 days in some locations...in others it's only a week or two...The three MLS systems that I'm a member of all have requirements that property status information must be updated in the system within a day or two -- if you close on a sale and don't update the MLS listing within a day or two (specific time limit varies based on MLS), you will get fined.I don't know any agents who ever even check on the recordation status of their properties -- the closing agents generally just tell the buyers, "If you don't get a stamped deed back from the county within a couple months, let us know..."
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24 November 2015 | 16 replies
Manager lives on-site.Ok, those are the things that are positive about the home and community.Now for the things I feel would need to be added/completed/renovated before ready for sale or rent:New gutters - ~$800Laminate flooring in kitchen and bathrooms to match entire house - estimated $500Stove/Oven - ~$600Fridge - $700W/D (optional) - $600Window in master bedroom - $200Ceiling fan in master bedroom - $200Kitchen sink - $200Redo all door trim/paint all doors/rehang, replace or adjust a few doors - ~$500 (just a guess)Add small door to water heater closet ~$100New master bathtub - ~$8003-4 panels of skirting need to be replaced - $ (no idea) but estimating $200Ramp/Stairs/Deck leading to front door needs to be replaced - $1000Landscaping in front - $200Cleaning entire home to make ready for sale - $200I'd like to get a foundation specialist to look under the home (free)Roofing specialist to talk to me about the metal roof (free)I need to ask her about the furnace (forced air) and its age and working condition.I need to factor in about three months of lot rent (at $375 per month) for the renovations to be completed - $1125And I'd like to have $1000 set aside for unexpected rehab expensesGRAND TOTAL = $8925This would mean that our negotiations to the seller would start at $11,075.First, are these figures anywhere close to realistic?
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3 December 2015 | 26 replies
'here' which is 100 miles plus distance to compare the three.
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22 November 2015 | 3 replies
I own three properties total and I am currently on my 2nd house hack.Deal #1: Desc: House HackType: CondoYear: 2004Location: Uptown neighborhood of ChicagoDeal #2: Desc: House HackType: SFH (3 bed, 2, bath)Year: 2012Location: La Grange, ILDeal #3Desc: Short Sale, CashType: CondoYear: 2013Location, La Grange Park, ILMy goal is to build a portfolio of properties that cashflow 100K/year.
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24 November 2015 | 30 replies
You have three powerful factors on your side: motivated sellers, a lot of goodwill and limited competition.
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21 November 2015 | 1 reply
A possible thing to keep in mind, having been on three boards (and lived in and rented out condos, two currently) this does signal that non owner occupant rentals are on the board's radar.
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23 November 2015 | 5 replies
So three clicks right there and you should have reading and study for a year or two!
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28 November 2015 | 43 replies
The property just closed in September.Mortgage, taxes, insurance, and PMI come to $2,800 per month, rents from the three units I don’t live in are $2,705 and due for an increase, and plus I rent out a room in my unit for $650/month (granted you probably wouldn’t be comfortable doing this with a family) for a total of $3,355 rents per month.
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24 November 2015 | 9 replies
I have heard Douglas Fir is pretty soft and can get beat up (especially in a rental).2) Would it look strange to a renter to have three different floor types in the three rooms (Oak, Douglas Fir, Laminate)?
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30 November 2015 | 15 replies
Its a 4 bedroom townhouse with three rooms upstairs and a room in the basement.