All Forum Posts by: Brian H.

Still for sale? Price? Location? Pictures?

I agree with Ibn, there are great FHA options, and I'm not even sure you can use a partner/split equity for those type of owner-occupied deals. 3.5% down on 400k is only 14k, which isn't a ton. Plus, if you don't own anything already, you can qualify for a lot of "first-time homebuyer" funds in Chicago/IL. IHDA will give you 7500 down payment assistance if you plan to live there for 4 years at least. NHS (Neighborhood Housing Services) is a great place to get info on home-buying, grants, etc. Plus, they have a lending arm that I believe matches that 3.5% down for 1 and 2 flats though it's a conventional loan and you have to use a certified contractor (which in theory you could become yourself).

Great points @Justin F., so much of our current housing stock (2-4 flats) is no longer buildable per current zoning... in the same areas where it already exists! Sometimes it is technically, or if you get into the nitty gritty parts of the code, but it probably shouldn't be that hard, same with the basements like you said. Why aren't you a big fan of coach houses? Come to think of it, the only one I've lived in (in Cleveland), I wasn't a big fan of either...

I don't know the history of Chicago zoning very well, but I'm curious as to why so many areas seem to have been changed to lower density relatively recently (though it's probably not pretty based on what I do know of Chicago zoning history). Perhaps @Account Closed can speak more to that end?

From an architecture/urban planning perspective, I think this would be great. I feel the same for real estate. Though I'm definitely in favor, and have signed the petition, it'd be interesting to see some in depth analysis of how this will affect things, pros/cons, etc. It'd be great to get ahead of any likely problems so that the majority of folks who will reap benefits, can. 

Upvote. I'm curious to know as well, Bob!

Side question for you @Iram Vimawala... 

Did you paint or replace the brick? Google maps shows a different color brick. And if you painted, did you have someone individually paint bricks to get that look? I don't think I've ever seen that!

@Mark Ainley I'm also interested in your CPA reference...

@Bjorn Ahlblad Sorry, overlooked responding to this. Thanks for the advice. They ended up hiring an expert who I believe is installing multiple drains and doing some re-grading as well. Hopefully it solves the problem!

@Christopher Malone Hi, and thanks for posting this, looks like a nicely done project.

These are helpful to see for newbies like me trying to get started.

What all else does that extra $420 out of the 1400 cover? I'm assuming taxes, insurance, cap ex and maintenance. Do you pay for property maintenance or do it yourself (separate or included in monthly cash flow)?

Hi everyone, I'm wondering if anyone knows of a landscaping (or other) contractor in the Richmond area that could re-grade a back yard? Looking for suggestions. I have family there who recently showed me water pouring through the basement wall of their house, literally shooting out like there was a hole drilled through the brick!

I assumed they need a sump pump... until I saw the backyard during that same rain. Huuuuge pool of water up against the house. The yard apparently slopes from the alley towards the house instead of vice-versa. 

Anyways, I'm hoping to find some recommendations on contractors who can do that sort of work for a reasonable price. Doesn't have to be dirt cheap (see what I did there), but decent quality work for a reasonable fee. 

Additionally, if you have other advice or suggestions, I'd welcome that as well. 

Thanks in advance!