All Forum Posts by: Dan S.

 So. all income - expenses are taxed. if you spent 70,000 and depreciate that 70,000 you put in over 10 years at 10k a year, and you make 10k a year.. then.. you pay no taxes for 7 years. Its complicated, but not that complicated if you try you'll have it down soon enough

I did not, doubled down on Cicero. I have a 5 and 6 unit in Cicero.

Reasons 1)  Cicero has its own police force, they are responsive in my experience. If you have a problem you can get them to show up. LV which is part of chicago, has chicago police, and I wouldn't trust they have time to come to sort out someones car slightly blocking your buildings driveway in 15 min. I get that in Cicero, and I feel that is something I need based on how I run my biz (I dont have an prop manager who can spend time on this stuff, its all me.)

Also, I hear there more gang activity in LV then Cicero. 

2) Tenants and rent. The rents are going to be less, people just want to live there a little less. I can 100% get good tenants in cicero (income 3x rent, I background and credit check) because people want to live there... 

There are savings in LV, and you dont have to deal with Cicero inspections. Though I value cicero inspections.. as oddly or poorly executed as they can be sometimes. Cicero is trying to improve its housing stock. Also some nice new roads there

I have a non-paying tenant. This time its 10 days late. The 5 day went out monday via certified mail. I will be on site friday, but usually only the tenants boyfriend is home then. From what I read maybe I should not deliver the 5 day to him since he is not a tenant?  I feel like it is worthwhile to do a process server. If I never get any $ out of them, I should get it moving asap rather then wait up to 2 weeks for certified mail to get delivered. Can anyone 

I did resolve I did it myself 

I don’t recommend its a lot of work

Next time ill maybe use mja plumbing 

Not bargain price, but a good value

Do you have other recommendations jim

Also would love to hear about Summit and aurora

Hi All, 

I have bought renovated/rented a 4 unit in Cicero. I'd love to find a area next door to cicero to look in.

Lyons, Stickney landlords, please be kind enough to share your experience 

what does a 2 bed apartment go for in your opinion? 

Smallish kitchen old style cabinets, but otherwise totally fine, legit, clean, etc.

Something like this

https://www.zillow.com/homedetails/4305-S-Harlem-Ave-APT-1-Stickney-IL-60402/2084209085_zpid/

What does a 1 bed go for? What has your experience in Lyons/Stickney been like

Can anyone recommend an affordable plumber for Cicero IL? 

Licence is good, affordable is key tho

No need to read the details, I just am hoping for a recommendation, but the details are below

I have a sewage "stack" (the 4" sewage pipe running vertically) that goes from my 2nd floor toilet to 1st floor toilet to basement toilet and all ends up in an ejector pump. 

power out= the basement floods.

pump clogs = basement floods

line clogs = basement floods..

and there is so much water going into the pit (3 units) a warning system doesn't help. There are so many people using so much water, a few minutes after a failure I have a flood already.

I want to route the 2'nd floor and 1st floor into a drain line that runs next to my building so only the basement goes into the ejector pump. 

I am looking for an affordable plumber, I can do digging... 

Hi Hope, thank you for your response! Would you be kind enough to share more on your opinion and experience and why you might stay away from Cicero? 

I am almost definitely going to get a 5 unit in Cicero, and if you have reasons I should be wary I would like to know them. At the very least I want to go into this thing with my eyes open. Thank you in advance!

Cicero rental property owners/investors, Please share your insight on this deal

I have 4700 W 20th St Cicero under contract for $245,000

- 2 units: 2 bed 1 bath + 11x6 sunroom

- 2 units 2 bed 1 bath + small porch

- 1 garden unit (studio)

-1 central radiator system, Hardwood throughout, Seller is making Cicero repairs.

- 1 unit needs new kitchen & new toilet & vanity & 1 wall of drywall.

- Windows are oigional with old aluminum storm windows some are broken.

If this were 2016, I know I would be overpaying. If this was in the middle of Cicero I'd expect it to be a sure shot. Every time I went there to view it, it was teeming with people looking at it. I think I only got it because I offered cash.. but I am afraid I overbid... thoughts? 

Hi Tomas Satas, sounds like you've had some experience or info I'd benefit from knowing, can you add some detail to that?