All Forum Posts by: Kyle D Birch

Josh is the man. He made things work for me that others couldn’t. He also did it seamlessly and with lower cost. 

I self manage 7 units on the south side so my perspective…

1. Did you already close? If not ask the seller to provide bank statements showing on time/full rent payments. My sister in law pressed a 3 flat in cook county a year ago and the owner said all tenants paid on time and in full. They were lying and all 3 tenants had to be evicted. The process took a year and a ton of lost income. The list goes on but this is the first thing that came to mind.

2. use the Chicago Area Realitor’s Association lease. They provide here free on BP.


3. I have a good handyman, but depends on the area and the need. Also ask around the forums, lots of Chicago guys with connections.
4. I use Zillow. They screen tenants and let you upload leases to sign digitally. I have had really great luck with them and it’s only $10 a week for a listing. I have always had a tenant within two weeks. 

Where is the property located? 

Congrats on getting back in the game!

You have to do some digging and find out if it’s a buildable lot. My 4 flat is on a “double lot”. I have two pins and the property sits only on one lot, but the other is not buildable. Seems like a nice way for the city to tax me twice. 

Ask your lawyer to look into it. 

I’m no lawyer, and I don’t use security deposits, but I would read up on the law you are referring to. Last time I checked, it was geared towards bigger investors with large portfolios.


Here’s a quick excerpt of what I found online “Interest Payments: Illinois landlords are not always required to pay interest on security deposits. According to the Security Deposit Interest Act (765 ILCS 7150), it requires landlords who own 25 or more units “.

Again, I use a move in fee and it has worked out better for me, but you might want to read up on it. Sorry if someone already mentioned this. I didn’t read every post word for word.

Stop paying for college. Borrow the money at a low rate with deferred payments. Then take the money and invest now. Also, start at the community college. Take as many cheap courses you can. When you transfer to the university and graduate, no one knows/cares where you took the first two years.

Interested in learning more about the property. Depending on location, I am interested. 

Here’s what I have….

My 4 unit, 10 bed/6 bath apt building monthly. Gas heat & water inlay, tenants pay own electric.

-gas $350 

-common electric $110 (basement apt is on the common)

-water/trash $200 

my 2 unit 4 bed 2 bath. I pay all utilities. Tenants also both has a washer/dryer in unit.

-gas $170

-electric $140

-water/trash $180

Everything is central air/gas forced heat. 

Just gotta add to what John said, Josh Jones made things happen for me that 2 other respected lenders couldn’t do. 

For clarity, what’s your evidence to support it being a 3 flat last year? Are you saying the owner went out of their way to get the property rezoned to reduce units?  Do you see permits pulled on the city website to support the deconstruction?  Why would they do that she. The value of the property is higher as a 3 vs 2. Many two flats in the city have amazing garden units that to everyone  else looks legal, but in reality are non conforming.