Does anyone in Chicago or Illinois have a good parking lease template that they wouldn't mind sharing?

Originally posted by @Bob Okenwa:You'd have to refinance the loan in the name of your LLC, and that loan would be a commercial loan with inferior terms (shorter amortization, higher interest) than a standard 30-year mortgage.I don't mind the interest adjustment, Does the LLC need to prove itself able to sustain the payment of the loan?

Hello group I'm getting started on this new endeavor and need some advice on the best way to find motivated seller lots of ppl say to market myself and yes I'm going to do that...

For instance, if the appraisal comes in at $200K, and they're selling it to you at $150K, then have them do gifting of $50K, keeping in mind annual limits on gifting gift tax free, if that concerns you.

One CAN figure out approximately how much a property sold for even if it's not listed in the records:  extrapolate the transfer taxes (state/county/city) and multiply out.Just an aside:  I remember back in the day when the appraisals were coming in short in an appreciating market (something like we have today) we would ask the buyer to pay MORE money for the transfer taxes (no law about not paying more taxes) and it would help show a higher "sales" price and help 'push' up the comps--not recommending you do that now--much more data available for all eyes.But I would recommend that you buddy up with a like-minded realtor, and work out a mutually beneficial arrangement so you can get the info you need, and they can get listings, sales, referrals, etc, that they need.Better yet, get licensed yourself and get to know the business from the inside out!

Also keep in mind even if unemployment reached crazy highs list 10%, there is still 90% of the population working. 

Keep that in mind for valuing the property.

Keep in mInd that maintainence, cap ex and the other costs of owning the property still come out of your pocket as you live there

Keep in mind he copy and pasted something from the internet that he indicated his lawyer sent him.

If so, would you mind sharing your experience?