All Forum Posts by: Danny Polanski

I would start with your states attorney general. They usually have a free online portal for fraud ime. And they will follow up. 

Very happy to see the used car salesmen, errrr the real estate salesmen getting checked!!

hope one of you guys are the lucky 15!

https://www.businessinsider.com/new-york-city-funding-adu-ti...

Price points would be location specific. However, comps can be hard to find. I would start at $300 per month for a 2 car for cold storage. (Nothing included except 24 hr access). 

For the other posters: 

Additionally, yes renting garage spaces is a real thing and brings in real money. Some for storage, some for vehicles has been my experience.

Regarding marketing, word of mouth has been good for me but I would stick to tried and true methods.  Local social media, fb marketplace, craigslist, storage finder apps, local newspapers, hang signs, etc. Also very important is to pay attention to garage wanted listings and directly message those.

With the upcoming colder weather, now is the time to take advantage of renting that garage and locking in some great, low maintenance cash flow.

I think garages are an often ignored but quite valuable rental option  

If you are that undervalued than you are losing a lot of money. 

Now is the time to raise the rent. Give the tenant $100 off for being a good tenant (if they are a good tenant). 

I say something like this: hello xxxxxx, your lease ends with us in a few months. if you are interested in another year lease rent will be $1900 p/m. If you are not interested in renewing I will list it for more. Thanks!

I leave it at that. You can raise it as much as you like. Follow the market. And be sure to follow Chicagos landlord/tenant ordinance to the letter. Good luck!

https://www.msn.com/en-us/money/companies/us-jury-finds-real...

Anytime a contractor rips you off, contact your states attorneys fraud department. They do not like this stuff. 

It’s typically online and free and they will follow up. 

You will live and die by Chicagos RLTO. Id start here:

https://www.chicago.gov/city/en/depts/doh/provdrs/landlords/...

I would say you do not want to wait. You want to start young. 

However, I would not house hack in a bad neighborhood. You need to find something that needs “sweat equity”, is ugly and outdated, etc. but in a good neighborhood.

Then Id watch a bunch of youtube videos and read some books on home maintenance and improvement.