All Forum Posts by: Paul Garcia

@John Warren In this market, that growth level feels lightyears away!

@Tom O. Thanks for the feedback. Gross in one thing, Net is another. 

Yearly maintenance costs are around $25k for the labor side of it, but its disorganized having a different guy for this or that. In my mind, I was thinking this would be a great addition for someone who has a handyman business and could devote ~25 hours a week to the properties. But I agree, the pay has to be attractive enough for qualified people. 

Hi All,

I own/manage 41 units on the Northside of Chicago and I'm seeking a dedicated maintenance person. My portfolio is not large enough to hire a management company or hire someone full time. 

Reaching out to see if I could find a group of owners who had interest in sharing a full time person? Cleaning, yard care, snow, painting, plumbing/electrical issues, hvac maintenance. Off the cuff, I was thinking paying somone $50,000 and maybe split between 100-110 units. 

Been having a hard time building a relationship with someone who is reasonably priced and good quality. 

Reach out if any interest, or have any recommendations!

Thanks!

Thanks John! I have not heard of them before. Will have to check out. 

Hello All!

I just purchased a property in Chicago that needs all new windows, about 60 of them. 

I do not have a lot of experience with replacing windows. I have used Climate Guard in the past for a few windows and was happy with the price and quality. However, I did not search around much. 

Does anyone know where Climate Guard sits in terms of price to value? With this amount of windows, savings could be meaningful. If you feel Climate Guard is expensive, any recommendations on installers? 

Any suggestions greatly appreciated. Thanks. 

Thanks Christopher! 

Hi All,

I have an offer in on a 4-flat in Chicago, 2 and 2 side by side style. I want to add individual washer and dryers to the units, but won't be doing any other work. The process will be a bit of a hassle; tenants in place, awkward location for exhaust, etc. 

I had an idea about creating a dedicated room in the basement for each unit (maybe 6'x6') that would be there own "laundry room." Tile floor, drywall, good lighting. Maybe a folding table and side by side units. Would be a much better place to do laundry then the typical hallway closet in-unit. But not in the actual unit. Would have to walk down the enclosed porch 1 to 2 stories. 

I have not seen this setup before. Wanted to see what peoples thoughts are on this setup? 

Rents are currently $1,600 and would want to try for $1,700. In Avondale neighborhood.

Thanks! 

Thank you! I'll look into the metered facuets. 

Hi All,

I'm having a water meter issue in Chicago. My water bill has typically showed ~22,000 gallons of usage for a two month period. This is a 4 unit property with 4 washing machines and 7 bathrooms. 

My most recent full bill showed water usage of 53,000 gallons over a two month period (a 140% increase). The tenants have not changed. I've asked the tenants if they have been using water unusually high and they responded no (I take that as it is). The water meter and shutoff are within the property, so no leaks underground. The reading on the bill and reading on the meter do seem be be aligned.

I had a plumber come out and we had everyone stop using water for 30 minutes and the meter did not move, so we determined there are no leaks. 

Due to a refinance we had a short bill period from 12/2 to 12/8 which showed 38,000 gallons of usage! I personally checked the meter on 12/19 and since 12/8 there was 12,000 gallons used. So there was huge water usage the first week of the month, and then it dropped significantly the second week (but still super high). My water bill is quadrupling. 

After doing some research I've learned that sometimes running toilets can stop and go so maybe we should have inspected every toilet, not just have no one use water for 30 minutes. Regardless, I don't believe a running toilet can waste that much water. 

Has anyone had an issue like this? The City has said they have suspended all meter inspections because of COVID. Based on my reading of the meter my next bill will be even higher. Has anyone had a meter that misreads that water usage (i.e. 1 gallon of water goes through but shows 2 gallons)? I hear that is rare. Again, what is showing up on the water bill is what I see on the actual meter.

Any suggestions would be greatly appreciated.

Thanks!