All Forum Posts by: Christopher Leon

Wow. Great post. Nicely done. 

@Thomas W. I borrowed the money from a private individual at a ridiculous interest rate. At the time, it was negative cash flow, as the years gone by, refi, it was one of my better decisions no doubt!

@Jared G. Who knows? Maybe it’s just her style? As for me, maybe you’ll find this odd, or refreshing; I tell my clients which deals they are going to buy and for how much without their input. As a seasoned pro agent who actually owns property, I know what works and what doesn’t so I sit down with clients understand who they are and they’re desires, we define an investing strategy that suits their skills/mind/etc, and then I go to work and bring them a few deals on the market now and they buy those. If they don’t, I don’t work with them. Just get real with your agent. She ain’t going to earn a commission playing footsy and you won’t make an equity happen if you don’t. Go get em!

@Todd Powell we see this big time in Chicagoland area. Know the law on this. Check out hud.gov for the guidelines on this. They provide the proper questions you can ask - there are only two! Anything else is discrimination... smh.

@Todd Powell our leases here in suburbs of Chicago mandate it under liability clause - so yes. I prefer it. But you can’t control them cancelling it. Don’t really care if they do anyway.

@Charles Russell III If you come to DuPage county let me know! I could be a resource

@Matt Rutter I’ve never done anything like this. Pictures would have helped to see what your up against. Perhaps try spraying the ceiling of the basement all black like they do in some commercial spaces. And paint the studs or concrete walls. Expory the floor? Just brainstorming. Good luck

@Heather Keller I don’t mean to be smarmy here, but good luck with this. If you get through it and actually make a profit, I would love to see that post.

@Alicia Gates Everyone has a different plan. I’d prefer not to keep a tenant if I can help it. I don’t care what questions you ask - they have already been trained by that previous landlord. Regarding “cosmetic” issues - I would not put too much thought into this. If the current tenant is already there, they are living with whatever defects exist. Now, if there are leaks, black mold in tub, outlets rattling in the wall, I care about those things as they will cause you the most potential damage and most service calls.

@Michael Berlin I guess that’s possible. Depends on the documents you sign. Any private lender you find will want first position lien against the asset. As long as you perform per the details of your agreement, you should be golden pony boy