Posts Tagged ‘#smithcopropertyservices’

I Need to build a team !!!!!! HELP

I Need to build a team !!!!!! [email protected] an Investor From London England on Bigger Pockets asks:  On a recent Bigger Pocket Post Jason from London England asked for help to build a team for his first investments. Here’s our response to his question. @Jaloan asked: How do I go about building my team of a Lender,…

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What are the Security Deposit Changes in the new RTLO

Cook County Commissioners pass new RTLO for Rental Deposits Security Deposit- In January 2021, the Cook County Commissioners passed the new Residential Tenant Landlord Ordinance, also known as the new RTLO.  The RTLO will go into effect on June 1, 2021, and will bring many changes to owners in the 125 cities in Cook County.…

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What is a 1031 Exchange

What is a 1031 exchange? If a landlord decides to sell a rental property at some point, they will need to pay taxes on that gain. Now, this might not be a big deal if the property was a terrible investment or the investor had some bad luck and doesn’t have any financial gain. But…

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Cook County RTLO- Who is Excluded

RTLO (Residential Tenant Landlord Ordinance) On January 28, 2021, the Cook County Commissioners passed the Residential Tenant Landlord Ordinance (RTLO) that covers all of Cook County. The ordinance does exclude Chicago which is governed under the Chicago Residential Landlord Tenant Ordinance(CRLTO). Oak Park, Evanston, and Mt Prospect are also excluded because they already have their…

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Bid First-Negotiate Later

Why Bid First-Negotiate Later While we have no problems going to see properties we’ve found over the years that there’s usually enough information in listings, public records, and pictures for us to have an idea of what we want to bid or recommend be bid on a property without having to go see every property.…

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What the Stimulus Package Means For Real Estate Investors

This is a reprint of an Article from Scott Trent on Bigger Pockets The ongoing pandemic has hit our country hard, causing significant loss of life and changing our habits. We are all looking forward, with the hope that new vaccines will quickly get us back to a new normal. Interestingly, however, from the standpoint…

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How the latest stimulus impacts renters and homeowners

The news has been dominated by whether or not those economically affected by COVID-19 will receive $600 or $1200 from the latest stimulus. As of this writing, the answer is $600.  As a renter or homeowner, what’s the impact of the stimulus. Home Wire provides some detail on how the latest stimulus impacts renters and…

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What are the Room Requirements For Section 8 Tenants?

A useful article from property manager Mark Ainley We know many of you have or will have, buildings with Section 8 tenants. We thought it would be helpful if we shared the room requirements (for both bedrooms and rooms in general) for a home/unit occupied by a Section 8 tenant.  There is a lot more…

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12 Rental Property Improvements You Can Make for Cheap

12 Inexpensive Rental Property Improvements 1. Paint You can enhance key rooms and create accent walls with paint. 2. Change Out Flooring The same applies to flooring. In cheap rentals, you may be able to use vinyl or focus on small, key areas of flooring. Putting new flooring in small entry areas and bathrooms or…

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