All Forum Posts by: Justin Sobus

Hey everyone,

I am renting my SFH in Elmhurst IL after this winter and am looking for a general lease that has been used in Du page County and if I need to know anything specific for renting in Dupage. Also if anyone has a recommendation for a handyman on call I would like to have one or two ready to call when issues pop up. Any other general info would be appreciated this is my first time being a landlord.

Thanks!

Would this lower PMI or change anything if I have a current loan with them? I bought a SFH about 4 years ago for 333,000 with 6% down (750 credit). The loan currently is at 299k, I had a BPO come out through PennyMac that I had to pay for, they appraised my house much lower than I expected. They said it was at 355k and I need to be at about 390k to drop the PMI. I disputed and sent comps at 380k to 410k with no luck.

Hey everyone, 

Is anyone familiar with the rental market in Lake County near Chain of Lakes (Antioch, Ingleside, Fox Lake) areas. Have been looking at 3B/2B SFH 160-200k in these areas as long term rentals. My research for rentals estimates 1700-1950 for monthly rents for 3 Bed homes in these areas. I am an hour away in west suburbs and am familiar with going to the lakes in these areas. Any thoughts or experiences on tenants etc would be greatly appreciated.

I think it would be a good idea for the landlord to rent to a Police Officer for the purpose of a reliable tenant. However most of us would not want to live in a building as you describe and would not want to be involved in what the landlord would be expexting, especially off duty. When I lived in building I would never wear a uniform home for the purpose of neighbors knowing that I keep guns in the apartment. I would try calling the department and asking for special attention checks of the building and let them know whats going on. A PO parking outside the buiding even a couple times a night could deter some of whats going on. 

Bruce thank you for your response. Yes all three are on the title now and my dad would like to sell this year to get rid of it. So both parents on the title would need to pass away in order for the third to pay zero taxes upon selling. Is there any way to avoid taxes if he sells while both parents are living? The home is paid off no mortgage. Thanks again

Hey everyone

My dad is selling a lake home in northern Michigan, we live in Illinois. The house was originally in my grandfathers name and my dad says it is currently in my dads name, grandpa, and grandmothers name. The home is worth approx 275k. Can we avoid taxes if the home is left to my dad as an inheritance? What is the best way to go about selling this property? Thank you