All Forum Posts by: Ben Wilson

@Arthur Banks You are a patient man!  Thanks for posting about your experience.  I'm thinking about doing a 203k for my first deal, and the lessons in your posts are very helpful.  How has the last month gone?

@Lisa Maceda Over a year later, did you end up going the 203K route?  My wife and I are considering this option in the Chicago area as well, and I'd be interested to hear about your experience.

@Jonathan Avila Thanks for sharing a great lesson in due diligence.  I guess sometimes a bargain really is too good to be true.

@Josh Mitchell I'm still sorting through my investment strategy, but if I go the student route I will probably focus in on Evanston and the Northwestern community.  What sort of property are you looking for?

I know the cost will depend on a lot of different variables, but the input is still very helpful just to get a general ballpark idea of what to expect as I start to look at properties.  I'll have to be sure to get the records for the building.  Much thanks!

@Brie Schmidt - Thanks for the helpful info!  The heat is definitely an expense, but not quite as bad as I expected.

I'm looking to purchase and live in a small multi-unit property in Chicago, and I would be interested in gaining some input on how to estimate and account for the expense of heating in the winter.  Obviously this will vary depending upon the property, but are there some general guidelines for how to anticipate this expense in the event that I am unable to obtain the information directly from the seller?  

Having only lived as a tenant in Chicago for 1 year, I don't know what heating costs, but I'd imagine it isn't cheap.  I've noticed that many landlords include the cost of heating in the monthly rent - I'm guessing because all units are heated from a single source.  Experienced Chicago investors, what do you do?  

That's encouraging to hear, @John Casmon .

Thanks @Wendell De Guzman .  Your thread looks like it is full of helpful stuff.

@Brie Schmidt Thanks Brie.  Just listened to your podcast - very inspirational!  I won't be able to make it to the meetup on the 22nd, but hopefully I'll be in town the next time.