All Forum Posts by: Nick Patterson

Impossible question. North side is too big- Lincoln park vs Edison park totally different.

$500 plus or minus a few hundred Always use a lawyer in all RE closings!!

Save your money and time. Just read his books- multi family millions It's all great stuff nothing new but great stuff nonetheless You can learn everything you need to by listening to real people on the BP podcasts and by simply picking your neighborhood, product and start making offers. Learn as you go and when you make a $1500 error while rehabbing that's much better than $1500 in a classroom.

MLS is really the best. Other options Loopnet Costar Prospect now

It's all self policing. If your neighbor calls you in to the city expect a visit. However with the right zoning attorney it can all get straightened out as long as the no. Confirming unit is up to code (ceiling height, proper exits, permits, etc...) If you need a referral for the right attorney let me know

Start with picking an area and leaning everything you can about that neighborhood. Prices, neighbors, what are things selling for, renting for. Spend time in the area talk to everyone.

East of western is great. Not too sure about up and coming it's already pretty established with the school. I think it's an awesome area.

Scenario:

We purchased a 6 flat in Oct 2016.  It was a full gut, down to the walls.  Essentially when the demo was done you could stand in the basement and see the roof and all exposed brick.  We are now in Month 7 with about 6 more weeks till first move in.  So total of 9-10 month construction time is in our future.

Question:

What has been your time line experience from demo to move in day for first tenant?  

i use patrick loftus - if you google loftus law chicago you can find his info

good luck!

Interesting idea. I see it working with a niche like owner operators who don't want a PM but need a little assistance. For these people they are usually pretty stubborn and won't ask for help until they get in trouble. So a marketing play might be hang out at building court and offer your menu of services there. It's actually pretty clever what you propose. . Do you think you can get repeat clients or is it mostly one and done?