All Forum Posts by: Darius M.

Thanks @Carrie Matuga. This a property I've owned for 7 years so I should be good

Thanks @Brie Schmidt. Do you know of any lenders that do DSCR loans?

Hi,

I have a non-owner occupied two flat in Chicago that I would like to refinance. Anyone have any suggestions of banks that will do a cash out refi on this type of property? Also, what LTV are banks doing those at these days?

@Donnie N. 

I use Farlap and Associates. They charge a flat fee regardless of the amount your taxes are reduced. 

No Duplex. Just three separate condos.

Does anyone have experience on the process to deconvert a small condo building (3 units) to a 3 flat?

I'm currently negotiating a deal for all 3 units and 2 separate owners. 

@Mark Ainley

Can you let me know who you ended up choosing? I need to replace a flat roof on a 2 flat this Spring.

Thanks.

@Claudia Lewis I code my Income as "Inflow: to be budgeted" and for the payee field I usually put the address and unit number (e.g. 123 Main St, Unit 1, 123 Main St, Unit 2)

Hi,

As far as I know, the water isn't included in the taxes. I have usually asked the owner of the property to provide the previous year water bills to me.

Also, your insurance numbers seem low. Have you gotten an insurance quote for the property?

Hope this helps.