All Forum Posts by: Micah White

Only PITI

@Jaycee Greene I'd say roughly 80-85% LTV and about 1.1-1.2 DSCR

Andrew! That's awesome! You're killing it. I'm an Indiana guy myself and love the market. I'd be happy to help you get into your first property here in Chicago. I've acquired 7 so far in the city and have the tools and network needed to get you moving and grooving! Feel free to reach out with any questions you have. Happy to help. 

There is also a ton of opportunity if you were to renovate the garage and rent it out as a legal unit as explained above^

Hey Oscar! I would look into spot hero and/or other parking apps to gauge what market rates look like for parking in that neighborhood then adjust accordingly for the quality of parking you're able to offer.

If you added solar panels to your rental property, they would likely be eligible for the Investment Tax Credit which offers up to a 30% credit (similar to the residential credit) for the installation costs of the panels.

@Sean Graves Hey Man! Would love to provide any assistance I can! Whether it's connecting you to individuals in my network or helping you personally along your journey, I'm happy to help. 

if you were to sign him for an increased rate for the additional two months, a new lease would likely have to be drawn up and signed. 

This is a sticky situation! Given the risk you are taking for allowing him to stay two more months and having to re-lease out of the "peak" leasing season, I'd charge him an increased rate for those additional two months. Just enough to where you feel well compensated for the risk you're taking and he feels that he's still getting a decent deal for an additional two months of staying. However, if he has been renting from you for a long time and you don't see any risk in the re-leasing period, I'd opt to just let him stay for the current rate. 

This is awesome!