All Forum Posts by: Eric X.

Hey everyone. One of my handymen that usually does my section 8 inspection repairs just retired and I'm looking for some other handyman/contractors that does work in chicagoland but mainly around hyde park/washington park.

Nothing really wrong with watching the game.  It is always good to be productive but downtime and time with family/friends is just as important.  I enjoyed my evening watching half of the game and not working on real estate. 

@Ramon Moreno

Her sister maybe a "lawyer" but in Illinois you cannot use security deposit as rent..at least you aren't supposed to (IANAL).  Can you do something about it? If you really wanted to, yes.  Should you do something about it? Depends on how much time and effort you want to put into it.  

Did she give you notice she was moving? Why is she saying you are dishonest/misleading? Have you seen the condition of the unit? Is there damage? All in all talk to the buyer and be honest and come to an agreement.  You may have to eat some repair costs or deposit costs...also depends on how badly you want to close. Good luck & keep us updated!

@Kyle Grimm I have personally used most of them and I would say that Docusign is probably the most "user friendly" with the best GUI.  Dot loop is okay too but not worth it for the cost.

right signature is the cheapest if you have an affiliation but its interface isn't quite as nice.

I would vote for Docusign~

@THANG BUI

Typically unless the kitchen is a lot worse than other kitchens in the area, i would not do that for a rental.  Just doesn't provide that much added value.

For a flip, I would absolutely open it up if possible.  Issue with opening it up is that you would lose a lot cabinet space  and I'm not sure if that space is big enough for a good sized island.  Also where would the fridge/stove go?

We probably need more pictures since we don't have all the angles.  Also it would depend if there are any load bearing beams inside the walls.

But for a rental...it looks fine. I would personally leave it as is for a rental.

@Kyle Grimm

First thing...get a good 2% cash back credit card.  We use capital one spark but we run another business and travel internationally a lot so we rack up the charges quite a bit. This one has an annual fee but there are others like double cash from citi and fidelity amex that are essentially 2% rebate cards.  

Secondly...use raise.com cardcash zencards etc etc to buy cards at a discount.  I prefer raise since i get the cards usually within 2 to 60 minutes and they are digital so i can print them out, show them on phone, or use them online. there you can save usually another 6-8%..which gets you up to 8-10% after you take into account credit card savings... I use them right away to avoid any risks of buying gift cards. 

Then buy things online if you can(most things you can buy online for instore pickup.( Yes i have bought lumber, siding, trim all online for instore pickup).  use ebates fatwallet or any other cash back affiliate site for additional few percent off.

Lastly use discount codes. I usually go to lowes. The link below typically has the most up to date lowes codes. 

http://renovopower.com/

Homedepot and menards are more rare but they do exist. 

Unless there is  a huge discount or price difference I will shop at Lowes since they have the best coupons but I shop at all 3.  

@Dave Grimson

I have done this before only during winter months where it is a pain to find good tenants quickly.  If it's between november - february and you get an offer from an insurance company it maybe worth it than leaving it vacant. you can extra 10-20% and you can blow through some of the cold months so when you do have to find a new tenant, it should be easier and rent should be higher.

@Cody Barrett I think that depends a lot on the state and region.  In Illinois, almost no tenants have their own appliances.  Some do but they are usually very picky/clean/particular.  I have not had a case yet where tenants wanted to use their own appliances and I have mainly B, B+ homes

@Aj Bowman

No such thing as a dumb question here at BP.  We are all here to learn!

Typically yes your agent would get cut out of the deal. This is not a typical MLS listing so unless you have some sort of non traditional agreement with your agent, they would not get commission.

I am an agent and I have had this happen to me before but it isn't a big deal just be honest with them.  They didn't procure the deal, the wholesaler did.  

Good luck!

@Lauren Apicella

Hi Lauren

I am also an agent/investor in Naperville.  I tend to invest in more B areas and I have found that multi family units typically don't have the returns I'm looking for unless you are going into the aurora, joliet area. Single family homes, townhomes for me have had much better returns. 

If you don't mind more B- or C+ areas you can get pretty good returns in Aurora & Joliet areas.  I always keep my eye out on multi family properties but the returns don't make sense yet. 

If you have the ability to buy with cash, then single units/townhomes have provided much better returns for me. MLS is pretty poor these days in the western suburbs.