Tiffany J.
Breaking a lease in Illinois
Hello! Here's a scenario for you. Tenant signed a 12-month lease in Chicago at end of March 2021. Tenant needs to move out now on May 22nd because tenant bought a house out of state. The landlord requested that the te...
Jordan Roberts
Primary Residence Question
Hey everyone quick question without going into too much detail.
If I buy a primary residence and leave it vacant eating the mortgage payments for 1 year until I can rent it out, is that typically acceptable by len...
Eric M.
What do you think of this behavior of RE syndicator
I wasn't sure what category to put this in and I am not ready to name names quite yet but I am in the middle of a very frustrating RE deal. I would like your input on some things I have just learned.I am a former flip...
Jennie Testman
Do you Duplex?
Hi all!!I'm in need of some advice. I'm looking to purchase my first property as a live-in flip/upgrade. I found a property that is a 4 bed 2 bath, an addition was made without permits to make a 2 separate 2 bed 1 bat...
Claude Diehl
Sell a Solo 401K property with owner financing
I am trying to sell one of my Solo 401k properties. I've been made an offer of 50% down and for me (my Solo) to owner finance the other 50%. Is this legal? Can someone point me in the right direction? I really need a ...
David Choi
Tenant wants to leave for cheaper unit
Hi everyone,I just had a tenant notify me last week that they found a cheaper unit in the same sub and requested an incentive for her to stay at our place. We charge $3200 for a 2bdr 1232 sqft unit in Newport Beach, w...
Jim Goebel
Self Directed IRA Attorney / Advice
Hi everyone. Thanks in advance for any help/advice.I'm posting to crowd source this. I emailed our usual attorney for closings, to ask about this. She said it isn't in her wheelhouse and passed on helping. Here's ...
David Gjeldum
Transfer of ownership to a LLC, frees up credit?
Hey everyone,
Thinking of buying a condo here in Chicago (I know none of you are fond of that, but I have my reasons)
Say I buy a unit/finance it in my own name. If I transfer ownership to a LLC, does that free up m...
Joseph B. Davisson
Brokers and Lawyers using self directed IRA or Solo401k
I am interested in hearing about the steps to avoid violations for contributing "sweat equity" by brokers and lawyers who are investing their IRA or 401k money . For example, I am a lawyer and broker and a fee attorn...
Tom States
401k rollover to checkbook IRA LLC?
My game plan was to rollover my 401k to a checkbook IRA LLC. But the mortgage company wanted to close fast on a short sale before I could set up the LLC, so I had to rollover my 401k to a traditional IRA and take a di...