All Forum Posts by: Adrien C.

 Saw it on Instagram yesterday. We have not received any word despite a news posting on their site about another company taking over. Seems very shady. 

Hi Helen- welcome to BP. It’s been a great tool for us for a decade plus the networking with local folks. We’re in Griffith. Happy to connect some day- can never have enough coffee. 

Congrats on the purchase! Hammond is one of my favorites. We manage nearly 175 units (mix of SFH and MF) there and love it. Make sure you stay on the good side of the building department and code guys and you'll have no issues. Happy to jump on a call if you want further insight into Hammond and the people you don't want to piss off:)

Thanks for shoot out. @Devon Shaw happy to jump on a call and chat 

What is it going to cost you to hire out all those different positions you asked about? Plus your work and head aches doing it. By the time you pay those people, you're probably just as better hiring a professional company. If you're worried about the costs, buy better next time. What i mean is factor in their % and fees into your return and get the house at a better deal so you can afford to have PM. 

No, we have very little vacancy. I market my properties. We respond to inquiries and show properties. If your property isn't getting rented, it's either over priced or your PM isn't showing it enough. It's a simple formula. 

$120K turnkey in Hammond? That's a great deal. How many bedrooms is it? Make sure you register it with the city by mid April or they'll fine the poo out of you. It's $5 but the fine is stupid. 

Yeah good luck. We have hundreds of thousands in judgements and haven't collected much with both local and national companies. Depending on the location of the property, it's probably a demographic you'll likely never see money from. If you can get wage garnishment, they'll quit Burger King and go work at McDs and you have to start the process over. 

First, I would suggest evaluating your management company. With a legitimate attorney and eviction process, a delinquent tenant should be out by the end of the month they miss rent or pretty close to it. For example, we'll file next Monday the 20th. Court will be 3/2 and they judge will require tenants to be out by 3/9. Most management company don't even file till the the second month and their attorney is 30 days out. So by the time they get them out, you're out 3 months rent plus the down time to get it fixed back up and on the market. 

Secondly, it should be their job trying to collect that judgement especially if they placed the tenant. We deal with that for our owners. That's why they hired us. When you hire a PM, they should do all aspects of the job. Otherwise, what are you paying them for? 

I manage dozens of doors in EC. Here's the good- they are relatively easy to fill if you price isn't stupid high. In the summer and fall, we filled stuff in days there. October and on, things slowed some but that's seasonal and a local management company flooded the market. We still got a lot of stuff filled quickly. Prices are still cheap compared to other areas so ROI is still attractive. The bad- old buildings with old building problems. Just factor in higher maintenance costs. The code guys are jacks too. They'll tag you for trash that blew in your yard. They're suppose to give 10 day warnings but they'll sit on it a week before they mail it. My cleaning lady does weekly rounds to clean stuff to avoid their nonsense. Most of EC looks the same to me.

Hammond is another good rental market but at a higher price point. Gary is Gary. It's literally block by block. 

Good luck

Lake county- both flips and rentals