All Forum Posts by: Chase Spitzer

I've dealt with that recently. I worked up an annual operating report based of numbers they provide (off their schedule E is great). Then figure up my loan and create a cash flow work short for the seller. This gives a better idea of why I am offering or attempting to offer a certain amount. 

@John Tilstra Thank you so much! I will follow through with your advice. Let me know about the hosts you know. We will be finalizing our plans in the coming days.

@Thomas DeMoss I am thinking of coming next Tuesday through Friday. 

@Andrew Bauer I was born in the Atlanta area, and have worked there a couple months in recent years. 

I am working on a 5 year plan to move to the East coast and slowly unload property here in Illinois. I have spent the last couple years taking a lot of mini vacations and am highly intrigued by the Chattanooga area. We are making a trip down in a week or two. 

-Does anyone here operate an Air BNB in the area? I do not want to Air bnb, but I will be visiting a lot and it would possibly be nice to have a host to network with as well. 

-Does anyone recommend a couple local banks to work and build relationships with for commercial lending.

-Does anyone have a realtor that is active in finding income producing properties?

-Handyman?

-Smaller and recommended property manager?

Thanks!

My Grandpa is alive and I can't remember if he "sold" me a property for a dollar or gave it to me when we did the transfer at the circuit clerk. 

What are the tax implications of either? I am doing my taxes and I "rent" that property to my dad. More less he pays all the bills and I make very little.

Thanks, 

Chase

Long story short with a few properties and a contract for deed sale I have decided excel and turbotax may not be the wisest and that I could use some better advice and direction.

I am located in small town southern Illinois and all the smaller businesses are not very real estate savvy and all the larger ones are way out my price range.

Does anyone work remotely with someone they recommend?

Thanks for any help or direction.

Thanks,

Posting notice to enter was a great idea. That way we can end up getting an idea of the situation and how to proceed.

The out of state tenant has actually called me to try and get ahold of her. It appears he made the majority of the money. She has not paid rent, her phone is shut off, and the water is turned off as well. So there is no contacts left.

This was a recently acquired property with the tenants already in place.

I will start with the notice to enter.

Thanks

I served a tenant a 5 day notice after them barely catching up to be able to stay last month.

Their are two people on the lease, one left town and notified me he had no intenstions of coming back to town or paying rent. The remaining tenant has no water on. Soon no power once the weather stabilizes and she lost her job.

It has been 8 days since giving her the 5 day notice. She will not answer any calls, we have been to the house four times and never seen her. It appears there are still many items in the home, yet we truly can not tell if she has been home.

We think she may have just left and left most of her furniture as the items are really not much to speak of as far as quality or value.

Do we go to court to evict someone that is not there? Do we post notice? It seems to be an odd situation if she did just leave the items.

This is in Macon county Illinois.

Thanks,

Chase

@Autumn Webb I am planning to look through the greater Tampa area. New port Richie, Clearwater, etc.

It seems to be a place on could find neighborhoods I may like as well as cheaper housing I can afford to get involved in.

I'm in Los Angeles working right now. San Diego would be nice but living out here is beyond my budget.

@Ryan R. Thanks I will look it up.