All Forum Posts by: Nathan Yee

PM sent.

@Lucas Hammer - Sorry I've been off BP for the last few months. Do you still need a warm intro to a GC?

Hi Lucas, I'm working with a GC in Chicago who's honest and communicative with his clients. Happy to share his info and give warm introductions if interested. Feel free to shoot a pm.

Podcasts I have on cycle:

BiggerPockets (Real Estate)

Best Real Estate Investment Advice Ever w/Joe Fairless (Real Estate)

BiggerPockets Money (Personal Finance)

ChooseFI (Personal Finance)

Mad Fientist (Personal Finance)

The Side Hustle Show (Entrepreneurship)

Fat-Burning Man (Health) 

Impact Theory by Tom Bilyeu (Personal Development)

Assumption - I'm viewing each market as a whole - not taking into account specific neighborhood dynamics.

My brief observation:

In Los Angeles, the impacts of investing in rent-controlled areas are offset by consistent, appreciation % YOY (since 2012) - median home sales prices have increased by 64% from $393K in Sept 2012 to $644K in Sept 2017. It is not uncommon to see buy-and-hold investors take on negative/break-even cashflow properties, while relying solely on appreciation. The fix and flip market (especially for high-end, luxury properties) is so hot because wider margins exist.

In contrast, Chicago has seen median home sales prices increase 32% from $167K to $221K during that same time period. Cashflow is still possible in certain neighborhoods, but the projected appreciation is no where close to LA. 

Unless Chicago experiences similar appreciation as LA, which I don't see based on pre-recession vs. post-recession median home sales price numbers, the implementation of a Rent Stabilization Ordinance will discourage investment from buy-and-hold investors, who will start to see a squeeze on cashflow (restricted rents w/rising property taxes) supplemented by sub-par appreciation gains. I see this having downstream impacts on the fix and flip market as well. This combination makes the Chicago market much less appealing.

Hi! I'm seeking recommendations to insurance companies providing "stand-alone" landlord policies in Chicago. Any good experiences? Or companies I should stay away from? Definitely targeting best bang-for-buck options. Appreciate any feedback!

@Gaurav A. - Talk to @Mike Fisher...Dolton is one of the primary areas his business focuses on. I'm sure he can help field your questions.

@Lumi Ispas - sent you a PM. Thank you!

@John H. - Thank you for the recommendation!

Hi BP Community,

I'm looking for property inspector recommendations, specifically focusing in South side Chicago (Woodlawn). Any leads are greatly appreciated.

Regards,

Nate

@Justin Windham, @Dmitriy Fomichenko, @Carl Fischer

Gentlemen, I appreciate your thoughtful responses!