All Forum Posts by: Alex Bok

@Jun Zao In chicago often times the legality of the basement unit is unknown. It is tricky because some folks when they list it also like to call it a 3 unit when in fact it is a 2. As a general rule in Chicago I would say to assume that the basement unit is illegal

Stop orders from the city that delays projects by months! Inspectors in the city here are the worst!

Investing in commercial properties (5+ units) and how to get started. Particularly for folks who want to transition into this from residential!

@Vishal Didwania those numbers seem very solid from the surface. Would check on the area as well to make sure you are enough east. People's definition of 'Woodlawn' is often skewed. Also those rent numbers look a little low imo

Hey Elbert is this property still available?

@Jan Brumec Would love to help out here and give an estimate if you are still looking!

@Ankit B. welcome! I would recommend attending REI clubs to form your team here! Otherwise find a more experienced investor to help guide you here. There is no reason for you to go through all the leg work of finding these at times because the real estate investing community is usually very kind and can provide this info

NEXT windows is good as well

Long term investor I would equate to more so looking at equity in the property for big gains 5-10 years down the line. Cash flow I would say is more looking at returns for rent and cash on cash

Property values go up as each area appreciates or depreciates. Given the uptick in the market as of the past few years this makes sense. A lot of this is city/county based from the assessors