All Forum Posts by: Jason Dalka

Natalia, roughly what area of the city are you buying in? Based off the purchase price and your 50% rule number it seems like you anticipate getting about $3600-3700/month or roughly $1200/unit in rent. With a purchase price of 795K for a 3 flat I would think the area should support a higher rent price. All that being said, I've seen a lot of 3 flat house hacks that have negative ROI or just breakeven.

@Michelle Bright most real estate attorneys can do it. The one I use and refer my clients to charges 1/3 of whatever he saves the client. I can send his info your way if you would like.

@Robert J Carlson Thanks for the feedback. Just so I understand, you think it can be done but only if converted to a SFH? Also you mentioned Justin's group and a presentation, can you tell me how I find Justin's group? Thanks again.

Justin, I figured they wouldn't allow an increase in units but this is already a legal 3 unit. I'm just wondering if I can increase the unit size. 

Any one with experience adding a dormer to a property in Hammond Indiana? I'm looking at an off market deal with a 3bed/1bath on the first floor and a 2bed/1bath and 1bed/1bath on the second floor.  Huge open attic above the second floor, thinking that I could add 2-3 bedrooms upstairs if I can dormer the attic and duplex the second floor units into the attic space. Any insight would be welcome.

Joett, are you looking in Chicago proper or in the Greater Chicago area? I'm looking to do something similar and I think Chicago proper is tough to make the numbers work in a decent neighborhood. I'm a broker/owner in Chicago my agents have rented over 15000 units in the last 10 years. I can probably point you in the right direction on most of your vendor needs. DM me if you want to chat sometime. 

Morgan, I assume you are in the city. If so I would reach out to Verella Osbourne she has one of the most comprehensive Landlord friendly leases I have seen. Personally, I think the CAR lease doesn't do a very good job of protecting the LL, it covers the basics but that is about it. 

Legal Document Management, Inc.

Paragon investment properties

@Jason Hartman  PIP seems to be run by Scott Allbright 

@Caleb Heimsoth @Dennis M. Thanks for the feedback, I should have added above that the goal is to acquire a small portfolio of small multi-family properties over the next few years to build/preserve her wealth as well as generate cashflow to cover/offset her living expense. Totally understand that being a landlord is work, I've owned a real estate brokerages in Chicago that focus on residential leasing ( yep, that's a thing in Chicago) I've worked with hundreds of owners and property managers over here and my brokerages has rented 15,000+ units over the years. I was planning on investing closer to Chicago so I wasn't sure I wanted a single door in Akron. Looking over what people are saying about the Cleveland/Akron market I might investigate a little more.