All Forum Posts by: Connor O'Brien

Please let us know what attorney says.  Personally i love the HCV from CHA. I don't believe it's even called section 8 anymore.  I wonder if you could try to make that claim? HCV stands for housing choice voucher and CHA is Chicago Housing Authority. 

I bought a house that had evidence of a horrible infestation.  Thousands of droppings all over kitchen cabinets and every window still.  I think previous owner had an exterminator put down poison outside and block entrances with wire mesh.  

I'm surprised no one has mentioned cats.  A couple months after I bought the place the mice came back in droves. I battled them myself for a year and hired an exterminator but nothing really worked. One day I had one stuck in my cereal box.  

I immediately went out and bought 2 kittens.  I haven't had any issues since.  I understand why too. When the cats caught the mice who were there initially they tortured them for hours.  No training required. 

I bought a set (coin) from best appliances on south Ashland for $600 including install.  Seems to be working well

Does anyone have an example mobile home park underwriting?

I'm looking at a 16 unit park with 3 unoccupied units. $625k asking ($39k per lot). 

are there any heuristics out there? Types of insurance needed? Utilities costs?

I know to ask how many homes are park owned and if utilities are with the city. Any other good questions to ask?

Thanks bp!

Great discussion.  Can't help but worry about retail in this situation.  

If we do see massive inflation won't less purchasing actually hurt retail? What is the outlook for retail real estate? I already see stores closing in Chicago.

Joe Hubbard 

hubbardfinancialinc.com

Luke Kotulski inland construction

I tried 2 times to refi but didn't have quite enough equity- appraisal was $185k and my balance is $158k. My Zillow value was $260k for a while so I thought it was gonna be a home run. 

@Alex Ferraro what caused the fire?

Thanks for the post!

sorry... today's podcast got me even more riled up.  

the bank's ARV for my loan was way high. I'd worry more if the deal works for you... use rentometer and figure out how much income you will get.

My actual numbers were: 

$154k - initial contract

$200k - hud203k ARV

$130k - renegotiated price after dd

$30k - rehab 

$185k - actual appraisal for refi after rehab.  Surprise it didn't work. 

I actually did about $20k repairs myself in addition to the hud203k scope (flooring and paint)

If I hadn't renegotiated after finding issues I would have lost money!