All Forum Posts by: Atul Mohlajee

I gave a 30 day notice on June 30th via e-mail for ending lease of a problem tenant.  She responded to e-mail stating that she received the 30 day notice and wants to stay longer by still paying rent.  I delivered a notice to her home mail box also as well but nobody was home.  Will the e-mail notification work as a 30 day notice since she responded to e-mail stating that she got the notice in case it ends up in the court.  Please respond.  Thanks.

Thanks Josh for your informative response.

I am trying to find a tenant by myself although in the past I have used realtors.  

Please tell me about any good and user friendly tenant verification/credit check websites that you use.  I think It would be great to save on commision if I do this myself since I have 13 units now and have 3 or 4 turn around units every year.

Thanks

Thanks.  I lost the bid and bought another two flat.

Oak Park is a great town to live in but is too high right now.  Bought some in Oak Park  in 2011, 2013, good old crash days.  Now I have been looking in Berwyn, and Forest Park.  It is even getting hard to find deals in Forest Park, just bought in Forest Park after losing three bids at offers higher than quoted price.

No info.  I started this thread for info, not much response.

This one is only cosmetic repair.  But still, please send me name of the GC for future other projects.  I self manage everything which is why I buy close by so that I am a yell distance from home so if my family needs some help I am available.  Also, I can visit properties at any time and drive by most of them even running errands. 

Yes.  There is a bar at every corner which keeps taxes low in Forest Park.  Oak Park that has no bars has very high taxes/

Properties in this area are hot. I lost two foreclosure deals in the same week despite of bidding above the price. This one was listed for 184000, I bid 176000 right away. Bank asked me to up my bid, I offered 180000 and they accepted. This area appreciates well and it is a big 2-flat. Minimum expected total rent is $2800, and work needed is cosmetic. Deals are harder than ever to find. A few years ago, this would have a hard time selling for 140000, 150000, but currently I am very happy with the deal. My motto is to buy cash flow plus appreciation, in A- areas at least. All nine properties (2-Flats, Condos, SFH's, Townhomes etc.) that I own are within 1.5 miles of my primary residence in Oak Park, and I could walk to each of them. BP has been a great resource. I am planning next buy next year and this will be commercial at least a 6-unit, I will be asking BP pros about mortgage qualification requirements.

Will your numbers work?  Would you be able to charge enouph to make a positive cash flow?  That is usually what I look for in addition to possible appreciation.  These areas are pretty good in that regard.