All Forum Posts by: Jennie Berger

@Andrew Heinzmann I will send you the GC I have been using as well. He just finished up a large project for me in Berwyn, but he covers most of the city.

John- can you send me the contact info as well? If your GC does full gut rehabs and new construction in the city...thanks!

0 Votes

Chicago, Illinois

Originally posted by @Brie Schmidt:

You have never been allowed to do AirBnb on any unit in a 2-4 unit properties unless it is the unit you personally occupy

I didn't realize this. I figured since I fully own the 2-4 unit (I don't have one yet, I'm just saying hypothetically :) I could/should be able to rent it to whomever I want. And for any duration of time. I guess after having lived in East TN for 10 years (and in FL at other points in my life), I'm still just baffled by how much control the city has over these types of things... It is MY home. Or, is it?

0 Votes

Chicago, Illinois

Originally posted by @Nicholas Bailey:

The city doesn't HAVE to give you an exception to your existing zoning requirements.

Would you be so kind as to clarify what you mean? Not quite understanding...thanks!

0 Votes

Chicago, Illinois

Originally posted by @John Clark:

Externalities. Your neighbors didn't sign up to live next to a hotel, they expect either another homeowner or a long-term renter. The increased traffic and rowdy behavior of vacationers and other short-term transients imposes costs (direct, indirect, and quality of life) on your neighbors.

That's WHYYYYYY.

LOL.You're assuming all vacationers are rowdy and disrespectful. I'm certainly not that type of traveler. And anyone who rents to someone (short OR long term) they don't vet properly (through VRBO, Airbnb, or other similar sites) is doing themselves a huge disservice.

0 Votes

Chicago, Illinois

@Noah Lomax Any updates on how this progressed? Just read the thread and hoping it all worked out for you. Keep us posted!

0 Votes

Chicago, Illinois

Originally posted by @Jonathan Klemm:

@Jennie Berger - I'd recommend taking the test and getting your license. Tests are always nerve-wracking, but if you don't pass who cares, you can just take it again! YES YES, you are right and I know it! :D

0 Votes

Chicago, Illinois

Would also love some recs on this! :)

0 Votes

Chicago, Illinois

Originally posted by @Noah Lomax:

@Jennie Berger Thanks, Jennie!

I will keep Greater IL Title in mind. I'm the seller, so I didn't get to chose the title company that asked for it.

As the seller, you can still request the title company. Attorneys get paid from the title companies on each deal, so they usually want to work with one company vs the other. They have contacts at the title companies that they are used to and comfortable working with, and they are happy with their fee structure as 'repeat clients'. If the title company you request can match or beat the other title company's offerings, the attorney may be willing to oblige. Case in point- we are about to close on the sale of one of our rehabs and we requested to work with GIT. Buyer's attorney said (paraphrasing here): 'As long as GIT will match the rates of my other company, that's fine.' I'm not saying it's always the attorney's choice. But I'd be willing to bet it more often than not is up to the attorney, because why would the buyer (who may have never bought a house before, or rarely works with any title company) really have a preference? Title companies all do the same thing, for the most part. :)

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We both took the course and passed the school exam. The only remaining item is to take the state exam in order to obtain our broker's license. I've been procrastinating because: 1. I'm scared to fail the test LOL and 2. I have mixed feelings about dealing with sellers as a licensed broker, even though I'd be acting in the capacity of an investor/wholesaler.

I've spoken with numerous sources who advocate for getting the broker's license. And then a couple of people who say it can actually turn a seller off when you disclose that you are a licensed broker. Because if you're doing things on the up and up, you're disclosing this info, per the law.

One of the reasons homeowners like working with us (ie 'cash' buyers) is because we are not brokers/agents, and we do not charge and fees or commissions. Even though we wouldn't be charging fees or commissions to the seller in a wholesale deal. Sometimes, I think it may just get overly complicated to explain this on top of all the other items we explain when we meet and then present our offer.

The only alternative is to double close, which is something I'd like to avoid wherever possible since the selling & buying costs in Chicago are outrageous. Also, I wanted to clarify for anyone reading this post who may be new to wholesaling--the law states that you can wholesale 1 deal every 12 months in IL without a broker's license.

1 Vote

Chicago, Illinois

Leave it to Chicago to make things even more difficult! Man, I don't see how the city should have ANY right to decide whom I rent MY unit out to in MY own home. We're not talking about a condo unit. Nope, a single family home that I own and decide to build a coach house on the lot. Yet I cannot rent it out on Airbnb or other rental sites? WHYYYYYY CHICAGO?! How is this even OK? https://www.illinoispolicy.org...

0 Votes

Chicago, Illinois

All Forum Posts by: Jennie Berger

Jennie Berger has started 17 posts and replied 292 times.

Post: Chicago Investor Friendly Contractor

Post: Chicago Granny Flats | ADU Ordinances | Update on Restrictions

Post: Chicago Granny Flats | ADU Ordinances | Update on Restrictions

Post: Chicago Granny Flats | ADU Ordinances | Update on Restrictions

Post: Chicago Buyer Unresponsive after Inspection Reply from Seller

Post: Wholesaling - IL Rules & Illinois Department of Financial Regu

Post: Suggested Title companies for seller-financed deals?

Post: Title Company Requirments in Chicago for a Selling a Flip

Post: Wholesaling - IL Rules & Illinois Department of Financial Regu

Post: Chicago Granny Flats | ADU Ordinances | Update on Restrictions