All Forum Posts by: Detra Harris

Thanks for the feedback.  I'm getting the hang of BiggerPockets and admit I didn't know I was posting in the community.  I thought I was just updating my profile, haha.  I'm collecting $1300 in monthly rent.  My tenants have lived there for just over one year know.  The property is valued at $115K. Yes, this is my first multifamily in Chicago and seeking to purchase more 5+ units in Chicago. I'm refinancing right now, btw.  I've heard so many negative responses from investors regarding purchasing in Chicago, due to the City's budget deficiencies and high crime rates. However, I love the market and looking forward to increasing my portfolio soon.  On another note, I'm happy to help rebuild neighborhoods and contribute to growth in the City.

This is a real nightmare.  So sorry this happened to you.  There are some really great responses that I hope will help you to move forward in a positive manner, however, there are certainly some really misleading comments as well.  My experience as a professional Property Manager in California is quite different and I have 30 years of experience working with affordable housing and conventional housing tenants.  The higher income tenants have been my worst tenants in terms of damages, late payments, and the entitlement syndrome, unfortunately.  San Francisco, Silicon Valley, and Marin County are some of the most expensive areas to live, which I cover.  Get rid of your Property Management Company, they are responsible for tenant screening and regular site visits.  Looking at the exterior of the building, which is the first clue that the tenant is not maintaining the property, even before inspecting the inside the unit.  I agree Covid-19 is no excuse.  Your property manager should have posted a legal notice to enter the premises and do their jobs.  Don't blame the section 8 program or tenants - they are not responsible to do your jobs which is to properly screen your tenants and perform regular inspections to best avoid this problem. Sometimes you can do all the right things and still approve a dead beat tenant. Reduce your risks by properly screening your applicants, enforce your house rules, serve legal notices for nonpayment of rent or notice to perform covenant, immediately (don't take excuses from tenants), and evict dead beat tenants. This is a business and your money is on the line. Don't take your property manager's word either, request monthly site visit reports to include photos and visit your property at least annually to make sure the property manager is actually doing their jobs.  Jessshhh, what a learning lesson but don't let it discourage you -- there are great tenants out there, rather section 8, section 202, section 236, or any other subsidy housing program.  Oh, yes -- market-rate tenants can be great tenant too, haha. Good luck!

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $72,376
Cash invested: $15,000

Lovely, well-maintained duplex located in Garfield Heights, just minutes from Cleveland, OH. Nice neighborhood, friendly atmosphere, and close to highways and shopping areas.

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Dayton.

Purchase price: $136,000
Cash invested: $42,000

Large Multifamily apartment building. All units are spacious 2 bedroom units with lots of character. Each unit is freshly painted, new windows, original hardwood floors, carpeting in bedrooms, and additional storage space. Large basement with laundry and extra storage options. New roof and water heaters.

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Dayton.

Purchase price: $136,000
Cash invested: $42,000

Large Multifamily apartment building. All units are spacious 2 bedroom units with lots of character. Each unit is freshly painted, new windows, original hardwood floors, carpeting in bedrooms, and additional storage space. Large basement with laundry and extra storage options. New roof and water heaters.

Dayton, Ohio is on the uprise for growth. due to the devastating recent natural disasters, the city is forced to revitalize its neighborhoods. this is a great opportunity for investors to partner with communities and assist with this process. The long term advantage is property values will increase significantly over the next 5 to 10 years.

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $700,000
Cash invested: $350,000

SRE is excited to present this project that will benefit seniors, veterans, and disabled households. This project includes; 4 units - (1) 2X1 (2) 1X1 (1) Studio. In addition, two (2) ADU studio units to the rear of the structure under the City of Oakland ADU guidelines, rules, and regulations. A total of six (6) units.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $72,376
Cash invested: $15,000

Lovely, well-maintained duplex located in Garfield Heights, just minutes from Cleveland, OH. Nice neighborhood, friendly atmosphere, and close to highways and shopping areas.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $72,376
Cash invested: $15,000

Lovely, well-maintained duplex located in Garfield Heights, just minutes from Cleveland, OH. Nice neighborhood, friendly atmosphere, and close to highways and shopping areas.

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Dayton.

Purchase price: $136,000
Cash invested: $42,000

Large Multifamily apartment building. All units are spacious 2 bedroom units with lots of character. Each unit is freshly painted, new windows, original hardwood floors, carpeting in bedrooms, and additional storage space. Large basement with laundry and extra storage options. New roof and water heaters.

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Dayton.

Purchase price: $136,000
Cash invested: $42,000

Large Multifamily apartment building. All units are spacious 2 bedroom units with lots of character. Each unit is freshly painted, new windows, original hardwood floors, carpeting in bedrooms, and additional storage space. Large basement with laundry and extra storage options. New roof and water heaters.

Dayton, Ohio is on the uprise for growth. due to the devastating recent natural disasters, the city is forced to revitalize its neighborhoods. this is a great opportunity for investors to partner with communities and assist with this process. The long term advantage is property values will increase significantly over the next 5 to 10 years.