All Forum Posts by: Arthur Banks

I identify at the time of showing. I tell them right up front this is not only my business but my home.  I let them know I keep it up as such and what the hours of operation are.  Just because I'm upstairs does not mean you can just knock on the door for any ol' thing. Or call outside of business hours unless it's an emergency of course. I believe because of this those that are going to be trouble look elsewhere. And that for me is worth it. I have no problem saying 'No" and don't feel the need to pawn it off on some "mystery owner".

Congrats! and welcome!

Welcome!  Have you attended any of the Lake County Property Investors Association meetings? Good group of people. We meet the 2nd Tues of each month at Primo in Gurnee.

Hey Rebecca,

Keep me in the loop for both.

Thanks.

Your project looks great! 

@Caleb Brown I would say find a lender and contractor that have done a few or better yet specialize in the loan. Use a consultant even if you qualify for the streamline. Here is another post I made.  At the end Steven Gesis has a link to a great write up on what to do and not do to be successful.  Hope that helps!

@Mark Smith Sorry, I totally forgot to come back to this post. I eventually found tenants in November of that same year.  They wanted a 6 month lease and I wanted to get on a spring/summer turnover time frame so it worked out for both of us.  Great, young couple with an infant. Rent was always on time or early and they left the place in move in condition, save for a nail hole and towel rack had pulled away from the wall. I replaced wall anchors with stronger ones, slapped some mud and paint over the nail hole and was good to go.  The current tenant moved in right after the prior moved out, so I had no vacancy.  She is, well, she's not bad, but she started paying rent on the 4th or 5th about 5 months in. She's never been "late" as per the lease and doesn't cause any issues. My lease gives until 5th, so I guess I can't complain.  Although I will be shortening that grace period. So, so far all has been well. Thanks for reading.

Good deal @Steven Gesis

I'm looking for clarification... 

1) is "application fee" and "credit/background check fee" being used interchangeably? 

(I've known PM's/landlords to charge both an app fee and credit/background check fee here in IL.)

2) if I collect a "___ fee" I can only charge up to $20? 

3) if an applicant pays the fee themselves there is no cost limit?