All Forum Posts by: Don Koss

Hi John,

Don Koss here.  Welcome to BP!  I have a lot of properties at NIU and in Dekalb.  Let me know if you want to connect sometime.
Best Regards - DK

@Mike Anders,

Mike,

I agree with Rich's comments.  I also have bought properties from them.  I also have an acquaintance that happens to own the law firm and title closing company that many of their transactions go through (Ginali Associates).  I have had no issues.  

Be aware that sometimes you are bidding against Auction.com (to hit the reserve) - but they are up front about that.  There are times that even if the reserve isn't hit, and you were the high bidder, they will call you back and try to make a deal.  But like Rich said, be prepared to be able to wire money and have documents reviewed by your legal quickly.  Everything I did, including closing, was over email.

Best Regards,

Don Koss

@Nnabuenyi Anigbogu,

You da MAN!  Great to see someone in Illinois, and especially Chicago and Cook County killing it!  We hear so may negatives about our State and City - it's nice to hear and see your positive action.  Great work and I am jealous...

Best Regards,

Don Koss

Scott, Sounds like a ventilation issue as others have stated. In my personal home, I had it rain inside the attic with icicles forming on the nail tips inside the attic. Ideally, the attic air temp should be the same as outside. This is achieved through proper ventilation (air flowing from the eves to the top of the roof) and through proper insulation. A roofer is the guy to call - but you will need to find one that cares.

Lot's of discussion around not accepting Section 8.  In Illinois (Dekalb Co.), we don't have to accept, but from my perspective, I have only had good experiences with Section 8ers.  You always know where most of the rent is coming from, and now the Section 8 rules are so strict that if they get kicked out of the program, it's very hard to get back in - a powerful motivator for being a good tenant.  Plus, the Section 8 inspection revolves around things we do to our properties anyway - so no issues.  I know this varies county to county in Illinois - so I can't vouch for left leaning counties like Cook (i.e. Chicago).

Just my 2 cents...

Best Regards,

Don

@John Blackman,

Thanks a lot for the detailed health care summary - it is greatly appreciated!  This is kind of what I was thinking (with regards to deductibles and HSAs).

One other thing I am doing is making my wife and kids work out for three hours a day and eat organic kale to keep them out of the doctor's office.  They hate me.

Best Regards,

Donko

@John Blackman   Congrats John!  I am also planning on leaving the corporate world very soon.  One question for you (since you have small kids), is what did you do about health insurance (or does you wife work)?

Thanks so much!

Best Regards.

Donko

@James Wise and @Naveen Desai ,

Did you guys ever find any reference PM agreements? I am also looking for an updated agreement, as mine is very old, very generic and non-specific - in fact it sucks. Thanks and let me know if you can.

Best Regards,

DK

Great success! My main take a ways are:

1. Work hard, and

2. Death, divorce, drugs, disease....the 4 D's that create real estate opportunities.

Best Regards,

Donko

Andrew,

Just an idea...

As a safety net - you can always keep up with the latest in Solidworks, Inventor, Catia or NX by doing the free classes on-line (at least for a year or two until you feel comfortable). That way if you need to go back, you can tell the company you are interviewing with that you are still up to date.

Best Regards,

donko