All Forum Posts by: Zulf H.

Hell BP members:

Hope you are doing well. I was curious on what strategies or tips you may have on trying to find good deals on multi-unit bldgs. I am based in Chicago and feel there is not much inventory out there on MLS for multi units . I am curious to find out what strategies have worked for you to identify properties from owners or before they hit the market. I own several apartments/multi unit bldgs. and have funding but it seems like its getting harder to find good deals.

Any advice or tips you can share will be greatly appreciated!

Hi BP members:

One of my tenants notified us that someone try to get access to the garage unit. They were unable to access any of the garage units as they are secured. This is the first time I have encountered this as the neighborhood is very safe.

Since this is my first experience with such an incident, what do you recommend?

1) Should I notify the authorities ( Nothing was taken as the doors were secured) - The door for the garage did have some damage

2) How do you secure your properties from such incidents? - Camera, ADT - Looking for a cost effective solution.

Thanks,

ZH.

Dear BP Members,

Hope you all are doing great. I have had a bit of a rough start to 2017 with 2 of my buildings having water issues. 

One of my multi-unit building had water flooding issues on the ground unit. The people who saw it mentioned that the neighbor has his gutters pointing  towards my building and also the sidewalks around my building are directing the water towards the foundation and therefore the water issues with the ground unit. 

I am looking for a referral for a reasonable , experienced person that can handle this job dealing with waterproofing the foundation as well as the ground unit. This the first time this has happened in 4 years however the problem has occurred 2 times since Jan 01. Any advice or referral you can provide will be greatly appreciated ( Preferably in the Chicago area)

Thanks, 

Zulf.

Hope you all are doing great. I have a mix of SFH, Codo's & Multi Unit buildings. I am looking for a referral for a good insurance agent that provides competitive insurance rates.

I have noticed that when I look to analyze other properties on MLS, their insurance is always lower than mine. I spoke to my agent and they mentioned that I have all the discounts and it will go down as I stay with them longer, they also mentioned the other people might not have the coverage I am getting.

I would appreciate if you can recommend any insurance agents with competitive pricing. The insurance expense does add up, trying to see if I can find any savings in this area.

Thanks in advance!

Z.   

Thanks @John Casmon. I will try to make this meeting and check out the link you sent. My properties are in Chicago, but I manage them remotely. I wasn't sure when the meet-up was.

Hi:

I am usually out of town on business but will be in Chicago and would like to network with other Multi Unit / Commercial Property owners. Is there a group for this and where does it take place.

Thanks!

Thanks @Thomas S.. I guess if I let tenants have pets they should be only on the ground floor. The tenants are actually good people its just the disturbance from the dogs running.

I was hoping there would be some special mat that would fix the noise issue.

Thanks.

Hello BP members:

On one of my multi-unit properties I have allowed the tenants to have pets and I have been having lot of issues. 

Issue 1 - The tenant that lives below them has been continuously sending me emails about being disturbed by the sound of the dogs running upstairs. I have had the pet owners install an area rug and also some runners in the hall. The tenant below still keeps complaining. Have you had a similar experience and do you have tips that would limit the sound of dogs running on hardwood floors.

Issue 2 - As per my gardener, there is always dog litter on the lawn. I was told the neighbors dog comes and takes care of their business on the lawn. I believe the pet owner was notified but it still happens. I though of installing a netted fence inside the current fence we have so that other dogs don't come on the property, however this could be a bit costly. Has someone faced similar issues and how did they resolve them. Any easy fix?

Thanks for your advice!

Hi @Stone Timber:

Could you list the 5 zip codes you mention. I have been investing in Chicago and would like to keep these in mind for future purchases.

I was also surprise not to see Chicago on the list, however I hear there will be a hike in taxes which may effect the profitability.

@Chan K. , @J Beard

Thanks for the comments. Both of you have given a few points I had not thought about. I think my best bet world be do this in a phased approach. Work with the really good tenants to renew their lease for another year and let go of some of the problem tenants, I already had one that paid a week late. He is first on the list to NOT get renewed - lol