All Forum Posts by: Baris Yuksel

@Yocheved Beer  @Jonathan Klemm  I can see how both side have a good point for charging for an estimate. I was thinking, why not do this like car repair shops do? They charge a diagnostics fee and if you give them the job, it goes towards the cost of the project. If you don't give the job to them, well they spent time on it so they get to keep their diagnostics (or estimation) fee. That seem more than fair. 

Guess what guys, I just started using Buildium and we are in 2023, they still do NOT have a way of properly entering and tracking your credit card expenses.

I use one credit card for all expenses and at the end of the month I am trying to make a lump sum payment for each property and there is no way to handle something this simple.  Any suggestions? 

@Garfield M. Thank you for sharing this cmap link, it is fascinating to look at how each Chicago neighborhood has been evolving over the last 20 years.

Lots of interesting facts there. For example, I know Beverly is a very nice area but I did not realize 34% of the households make more then $150,000 year there. If accurate, that is more then double the Chicago average,so quiet amazing. 

While other areas like Belmont Cragin are also very interesting. I thought that was an area that was always part of the gentrification conversation.

According to this data, however, back in 2000, Belmont Cragin was 28% white and 65% hispanic.  In 2020 it is 14% white. 80% Hispanic. 

Anyway , @Ryan Bird  back to the migration question: as many pointed out, this would only matter if you are some big shot like Grant Cardone, looking to buy or build a 500 unit multifamily in a town with a population of 50,000 people.  Net migration will not matter to your situation, if you are in a City with 2.7 million people, and you are looking to buy a 6 flat, you will still find tenants no problem, even if the city had a negative 20,000 net migration in the last 20 years. 

Another thing that is misleading also is that many times developers are replacing the old housing stock like a 3 flat with a fancy single family home, so 10 peoples may leave the area as a result and 2 new people may be moving in. Net result will look like this area lost 8 more people. There is a difference between change in density versus peoples simply escaping an area due to high crime or property taxes. (The latter obviously also happens in parts of Chicago unfortunately). 

Hello - I Just purchased my ticket for BPCON2021 and then I started calling some hotels in the area.

Many seem to be not accepting reservations due to the Hurricane and some hotels don't even have power. 

Is the BPCON2021 still happening? 

@Alexandra Hughes Pailet

All these eviction moratorium extensions are simply for votes, it has nothing to do with pandemic or social justice, it is just dirty politics. They simply see the landlords as a small pool of votes and tenants are the large pool of the votes. The least the landlords can do is vote these hypocrite clowns out of the office. Make sure everyone you know votes against these judges, mayor and governor. 

@Mallikarjun Reddy Pateel  I would also ask for city permits signed off by every department (HVAC, electric, plumbing etc). 

Maybe they did not pass the inspections and it will be too costly to do it City's way, so they are unloading it. Or maybe they did not get the proper permits? Anything is possible. 

I would not buy it in North Lawndale unless you do the "night test" . You go there at night and you feel comfortable going into your building in the dark. If people are loitering and dealing and shooting fireworks in front and you are not comfortable, then your tenant won't be comfortable either. So you will only be able to rent to a certain type of tenant. Beware. 

@Mark Ainley I imagine this is on your list already but just in case: Robert "the fix it guy" is usually my go to appliance repair option. 

@Vante Jay  90% of South side is the same today as it was 30 years ago and guess what? It will still be the same 30 years from now. It will not be like Atlanta LOL. and the building in south side that sells for $200,000 today? That will still be $200,000 five years from now.  But you will have to spend about $50K in repairs over the next 5 years. So when you get excited about the high cap rate, make sure you factor that in. When I say south side I am obviously not talking about few hot pockets like Bronzeville or Hyde Park. 

No point in hiring an eviction attorney in Chicago at this point, this lovely moratorium will be with us for quite some time. And that means judge won't even look at your eviction request. And maybe one day, say 6 months from now, maybe you can actually file it, it will then take you another year to get rid of that tenant. Because by that time the sheriff will be so backed up that last step alone will take 6 months. It sure is a good time to be a tenant in Chicago right now, you can basically live for free.   

@Ian W. I was just curious and wanted to follow-up to see if you tried nestegg and how did that work for you?