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8 April 2020 | 7 replies
Does anyone have access to the 2020 Residential Lease provided by the Chicago Association of Realtors?
28 January 2020 | 1 reply
I have not responded to their inquiry but from the assessors information alone the value of the home is $145k (2300 sqft) and did I forget to mention it’s on 19 acres and has access to a beautiful creek.
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29 January 2020 | 13 replies
@Michael Noto, @Mathew Allen, @Ryan Luby, code requires the following:Must be at least 70 sq ft, minimum 7ft in each directionCeiling height of at least 7ftDirect access from a hallway or communal space (not from another bedroom)Second means of egress; either a door directly outside or a window at least 20" (H) x 24" (w)Proper lighting and ventilation; usually window(s) that is at least 8% of wall areaAt least 2 electrical outletsPermanent heat source that can maintain 68 degrees (space heaters don't count)Curiously, closets are not required by code, but a generally expected by tenants.
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28 January 2020 | 11 replies
Avoid the biggies like foundations, termite damage (unless it's easy to access and fix), mold / lead paint / asbestos remediation, full kitchen/bath remodels, etc.
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28 January 2020 | 4 replies
As you build your network you will have much better access to be able to build your company/business.
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30 January 2020 | 16 replies
In my 5 or 6 years of access to this website on a full time basis, I have never heard that the interest rate matters on any deal, just know what you'll be paying when you do an evaluation or figure the worst case scenario.
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30 January 2020 | 10 replies
Some of the investors we work with have a lot of trouble as well with the owner portal and accessing ledger data.
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29 January 2020 | 27 replies
You can also buy properties with the help of private lenders and credit partners (meaning, other people use their credit to get the mortgage for you - again, this is a form of creative financing).The fact that you need cash, you can learn how to wholesale or maybe get a real estate agent license so you can sell houses as your side-hustle while allowing you to learn your local market (and your MLS access allows you to study your market deeper).Real estate investing is like life.
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28 January 2020 | 3 replies
Here is a list of what I would consider starting out with this cash access:- House Hack -- you'll have the money for the down payment pretty quickly and this is a brilliant strategy- Save for 8-12 months and buy a rent house (this will be around a $66k house if you can work the numbers on it) -- either hold and operate it as a rental, or BRRRRR it - Save for 8-12 months and partner with someone on a flip, where you bring the down payment, the bank brings the 85% LTV loan, and you get a share of the proceeds OR a simple interest rate.
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29 January 2020 | 2 replies
No financials are available and no one else has access to the account except him.We are trying to reorganize and set up a proper structure for the HOA, and the first thing we face is we can't even hold an annual meeting because two of the owners are overseas and can't attend physically.