All Forum Posts by: Elias Betondo

Hello All,

I am looking for any options anyone may have on obtaining a home equity line of credit when tax return income is low.  Due to losses my tax statements don’t look great in a lender’s eyes.

The property I am trying to obtain a HELOC on generates approximately $60,000.00 in gross income per year, has about 200k in equity. I am looking to see if I can put equity to work elsewhere.

Any ideas, or strategies on what I can do? Are there any banks that may work with me? I am not strictly looking for a HELOC, but I would prefer it. Has anyone been in a similar situation?

@Linda Govan  the lot size is 25x125 - 3,875 sq ft.

Hello Everyone,

This post will be a bit long winded.  I am considering selling my 4 unit building in the Ravenswood area of Chicago.  The property is located near Ashland and Lawrence.  I am having a little bit of trouble pricing the property as it is different than mostly all the comps in the area.  

Most "traditional" Chicago 2-4 flats are constructed with the units vertically.  My building is 2 stories with 4 units spread horizontally, or sometimes called California style buildings.  What makes it more difficult is that most of the 2-3 units that have been sold in the area have the potential of being converted into single family homes that can sell at about 1million, or can be duplexed down or up to attract a buyer looking for more luxurious units.  My building consists of 3 - 2bed, 1bath units and 1 - 1 bed, 1 bath unit.  Current monthly rent totals: $5,600.00.  

I have seen 2-3 unit properties in the area priced from 620k-850k.

Any insight or suggestions are appreciated.  

@Thomas S. the lease is up in August, but I would like to list the building before summer.

I'm looking for some guidance on how to proceed with a few issues I am having with a tenant.  I am in the process of listing my 3 unit building for sale.  I had notified all tenants that we would be taking pictures of their apartments on a certain day, and to tidy up if possible.  When I got into this particular tenant's apartment I found trash scattered everywhere, the smell of marijuana, and multiple beds spread out in the living room.  When the lease was initially signed with the tenant, I was told that there would be 3 people living in the unit.  As of right now, it seems like there are 5 or more people in the apartment.  The place has been trashed, a few light fixtures have been broken, and one of the windows has been cracked.  I am pretty sure I have grounds for eviction, but wanted to get advice on the best way to approach.  

The apartment is in Elmwood Park IL which is located right outside of Chicago in Cook County.  Also, if any has worked with an eviction attorney in Cook County, I would greatly appreciate a referral.

Looking for tile installation contacts for a job in the Ravenswood Area.  Please PM or post contact info on the thread.  Thanks in advance!

Hello All,

I am looking for a retail strip mall in the Tarpon Springs, Palm Harbor, Clearwater, St. Petersburg, Tampa area.

My price point is 1,000,000.00 and under.

Also, if anyone has any insight on the area, please PM me.

Thank you!

Elias Betondo

Thank you for all the responses everyone!

I'm going to look into all the services: Listsource, Listability, & Listserv.  @John Weidner I will also call the help desk to try it out.

Thank you @Crystal Smith.  I've used the manual method through Realist, but as you mentioned it is very time consuming.  I'm going to give List Source a try.

I am wondering if any agents that use MRED (MLS system used by Chicagoland Realtors) have found a way to set up searches for absentee owners, or if any of other services provided through our membership are capable of running absentee searches.