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All Forum Posts by: Christopher Malone

Christopher Malone has started 24 posts and replied 175 times.

Post: GC Realty Investments in Chicago thoughts and experiences?

Christopher MalonePosted
  • Investor
  • Chicago, IL
  • Posts 179
  • Votes 122

@Daniel Shafer I’ve worked with Bryan and his team and I have nothing but good things to say. To this day I can shoot Bryan a text with an issue or question and he will be there to help out. You’re working with good people. 

Post: Best sms text blasting service

Christopher MalonePosted
  • Investor
  • Chicago, IL
  • Posts 179
  • Votes 122

@Joe Splitrock I agree, you cannot use a "SMS Blast" to an audience without prior consent, but you are still allowed to send text messages as long as a human is manually hitting send on every outgoing message. There are additional rules that would have to followed (recently updated by the TCPA) such as including the first name, and name of the company, as well as opt out language on every message sent. 

@Brooke Hallock Launch Control is an alternative to Sherpa (and a bit cheaper too). I have personally only used Sherpa, but I have heard good things about their platform. Good Luck!

Post: Letting Agent and Property Management

Christopher MalonePosted
  • Investor
  • Chicago, IL
  • Posts 179
  • Votes 122

@Olu Owasanoye can’t go wrong with @Mark Ainley and his team at GC Realty. You should reach out to him if you haven’t already. 

Post: Texting Potential Sellers

Christopher MalonePosted
  • Investor
  • Chicago, IL
  • Posts 179
  • Votes 122

@Kelly Wesley I use LeadSherpa which is TCPA Compliant. They do a good job of staying ahead of the FCC & TCPA regulations as you are doing P2P (Person to Person) texting. This means once you upload your list, you are manually hitting "Send" on every message. You are also not soliciting people, you are reaching out with a legitimate offer to purchase their property.

Here is a good article to read on the latest FCC ruling on P2P text message platforms. In my opinion, cold calling using auto-dialers and RVM's may be impacted by the ruling. 

https://www.tcpadefenseforce.com/tcpa-law-blog/fcc-addresses-tcpa-atds-definition-in-win-for-p2p-texting-platforms?fbclid=IwAR3XRC6fVmn55vsEovDlWjAncrCAh5YIxG-x_EQGl6TcTDaVjHH-LBmCB-Q

The Chicago City Council is on its way to making major changes to residential rental laws that will hurt the market (Listen to the latest update here https://soundcloud.com/chicago...):

  • Increase lease non-renewal notice requirement up to 120 days (4 months!) from the current 30-day requirement.
  • Allow tenants much more time to stop eviction proceedings after months of non-payment.
  • Further, the public was only provided 2 hours notice before this proposal was voted on in Committee.

To learn more before responding, check out CAR's blog post on the topic here: https://chicagorealtor.com/take-action-oppose-the-proposed-amendments-to-rlto/
To respond to the Call For Action (1-minute) click here: https://www.votervoice.net/ILRealtors/campaigns/74776/respond.

Thanks for your support!

Post: Chicago Housing Voucher Tenants

Christopher MalonePosted
  • Investor
  • Chicago, IL
  • Posts 179
  • Votes 122

@Marco Pangilinan When did you provide the 60 day notice? If you provided it back in March, then the tenant should have the moving papers in hand. Otherwise the lease will automatic switch to M2M. Did you call CHA to confirm that the notice was received and the move-out process began?

Post: 1 rental 2 flat Washer & Dryer

Christopher MalonePosted
  • Investor
  • Chicago, IL
  • Posts 179
  • Votes 122

@Alana Waters-Piper I personally do not provide Washers and Dryers in my rentals. I only provide the hook ups, which is pretty standard in most of Chicago. I will say that I have flirted with the idea of doing away with the hook ups, or passing the cost of the water bill back to the tenant (Adding it to the ledger). Depending on the type of tenants you have (and who paying the water bill), you will notice that laundry day is everyday. Also, I prefer to keep items that I am responsible for on the lease to a minimum.

If you are Un-Metered, and are willing to be responsible for the repairs and replacement of the Washer and Dryer if/when they break, then it may be worth the investment to edge out your local competition.

Post: Section 8 Property Managers in Chicago

Christopher MalonePosted
  • Investor
  • Chicago, IL
  • Posts 179
  • Votes 122

@Cynthia Meyer Looks like you're already in good hands. Section 8 + Chicago = @Mark Ainley

Post: Chicago West Suburban Real Estate Investors

Christopher MalonePosted
  • Investor
  • Chicago, IL
  • Posts 179
  • Votes 122

Whenever there is a meetup and @Mark Ainley is one of speakers, I always leave with nuggets to take back and implement in my own business. Really looking forward this!

Post: Water issues in Chicago - huge bill

Christopher MalonePosted
  • Investor
  • Chicago, IL
  • Posts 179
  • Votes 122

@Ben Meisel In Chicago, the owner of the building is responsible for the supply water line from the water meter to the building, the city is responsible for the water meter back to the street. Keep in mind, not all meters are placed in buildings! Many are placed in what’s called a meter vault which can be outside of the property, in the yard or sidewalk somewhere. Where exactly is the meter located? This will determine the level of problem you potentially have.

If the meter is in a vault, your cost will be based on a few things. Your yard set up, if it is in the park way, how far back the building sits, and/or (what may be the biggest cost) how much concrete lies between your building and where the meter is. Is tearing up and pouring concrete, or restoring the yard factored in the amount quoted? If so, what is the scope?

Also, if you have a meter vault, and you have to tear up dirt/concrete, you can not do this under the radar. You should be using a licensed plumber who will have to pull permits to get this done, which with time and permit costs, will add about 5-7% to the cost.

I am not sure if insurance will be able to do anything, but worth a call. 

CM