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All Forum Posts by: Jeff Davis

Jeff Davis has started 14 posts and replied 49 times.

Post: General contractor recommendations for multifamily buildings

Jeff Davis
Posted
  • Chicago
  • Posts 49
  • Votes 30
Quote from @Drew Sygit:

@Jeff Davis even if someone gives you a referral, be sure to vett them out!

 Will do, @Drew Sygit. Thanks for the reminder. 

Post: General contractor recommendations for multifamily buildings

Jeff Davis
Posted
  • Chicago
  • Posts 49
  • Votes 30
Quote from @Crystal Smith:
Quote from @Jeff Davis:

Hey All - 

Reaching out to see if anyone has any recommendations for good general contractors in the Chicago area. We just bought our first house hack here in Chicago. The building is an older 2-unit multifamily building. We are looking for someone that can help us upgrade the property and also help us convert one of the units into an Airbnb fairly quickly.

Any help would be greatly appreciated. Thanks for all the support and Happy New Year!

- Jeff


 Location, location, location.  Need a location before any recommendations can be made.  

You got it!  Building is located in Andersonville, Crystal. 

Post: General contractor recommendations for multifamily buildings

Jeff Davis
Posted
  • Chicago
  • Posts 49
  • Votes 30
Quote from @John Warren:

@Jeff Davis congratulations on finding a deal! Maybe reach out to @Rj D. or @Jonathan Klemm

Thanks! We’re really excited to get this project kicked off. Appreciate the recommendations @John Warren

Post: General contractor recommendations for multifamily buildings

Jeff Davis
Posted
  • Chicago
  • Posts 49
  • Votes 30

Hey All - 

Reaching out to see if anyone has any recommendations for good general contractors in the Chicago area. We just bought our first house hack here in Chicago. The building is an older 2-unit multifamily building. We are looking for someone that can help us upgrade the property and also help us convert one of the units into an Airbnb fairly quickly.

Any help would be greatly appreciated. Thanks for all the support and Happy New Year!

- Jeff

Post: General contractors w/ Airbnb conversion rehab experience

Jeff Davis
Posted
  • Chicago
  • Posts 49
  • Votes 30
Quote from @Michael Baum:

Hey @Jeff Davis, gratz on the new place! As far as contractors go, any good contractor should work just fine for a light rehab. If it is pretty light, you could probably handle that yourself. Get your list together and see who you need and start looking. Save some cashola.

Now, just to make sure, you have checked that STRs are legal in your area? Chicago can be a bit of a pile of hurdles. Did you already apply for the license?

https://www.chicago.gov/city/e...

 @Michael Baum - Thanks for guidance and the link to the city STR application. We're gonna source a few contractors to determine what we can do and what we need the professionals to tackle. With it being an older building we just want to avoid as many surprises as possible that we may not be qualified to handle. Appreciate the response!

Post: General contractors w/ Airbnb conversion rehab experience

Jeff Davis
Posted
  • Chicago
  • Posts 49
  • Votes 30

Hey Community - 

We're excited to share that we just closed on a 2-unit multifamily on the north side of Chicago. We plan to house hack and turn one of the units into an Airbnb. Although the building is an older building the unit is in pretty good shape and needs mostly cosmetic rehab/repairs. I'm reaching out to see if anyone can recommend any general contractors that have experience/expertise in light rehabs for converting units into Airbnb properties. We plan to mainly focus on the kitchen and bathroom right now and do additional work down the road as the listing starts to stabilize. 

We are also open to anyone that has any guidance/advice for the best way to approach this stage in our journey to rehabbing our new building as well as anyone that is currently going through the process and has any good hacks that can help us launch our Airbnb quickly. 

We're really excited about this process as we've been following BP for years and it's great to be finally putting all the great advice into action. 

Thanks again for any and all help the community can offer. Happy Holidays! 



Post: Good mortgage brokers in Dallas area

Jeff Davis
Posted
  • Chicago
  • Posts 49
  • Votes 30
Quote from @Andrew Postell:

@Jeff Davis thanks for posting!  @Bruce Lynn thanks for the mention.

There are lots of really good loan officers here in the "Dallas-Fort Worth" area.  Bigger Pockets is more of an "investor" website but most loan officers are trained to help people purchase their own primary homes.  And student debt has been a killer to a lot of people.  There are some strategies to it...but not many.  The three most important questions I want your friend to ask here is:

1. Should I be going FHA or Freddie Mac for my next home and why? (There are differences in these agencies and both are better than FANNIE MAE...so her loan officer should be able to speak to these differences and let her know which is superior to her scenario)?

2. How can I get around the "mandatory" payment that will be held against me with these agencies?

3. Is it better for me to buy now at a lower price point or buy later at a higher price point - and WHY?

Hope all of those make sense.  Feel free to post anything else if you need. Thanks!

 Very helpful, @Andrew Postell. I will share these questions with her and she explores the best next steps for her situation. 

Post: Good mortgage brokers in Dallas area

Jeff Davis
Posted
  • Chicago
  • Posts 49
  • Votes 30
Quote from @Miranda Holland:

Is she looking for an investment property that she doesn't live in or is she looking for a home she plans to live in?

Home she plans to live in.


Post: Best insurance companies for MultiFamily coverage in Chicago?

Jeff Davis
Posted
  • Chicago
  • Posts 49
  • Votes 30

Thanks for the recommendation @Alex Fenske!

Post: Good mortgage brokers in Dallas area

Jeff Davis
Posted
  • Chicago
  • Posts 49
  • Votes 30

Hey Everyone!

Reaching out to the community to see if there are any good mortgage brokers in the Dallas area. My really good friend is a single mom and is looking to buy her first home but is struggling with high student loan debt and wants to find a broker that can help her understand her best options to home ownership. 

Any help would be greatly appreciated!