All Forum Posts by: Kyle D Birch

@Mike Kirby

I just had an issue with a Tennant who was complaining ally air quality and the filters would be horrible after a month. They also had a newborn who was sick and they accused me of not keeping safe living conditions in the apartment. I went on Groupon and found a service to clean all the ducts and returns. I was skeptical of what I read online as I believed it was a ripoff. Long story short, the vents/returns were horrible from the remodel and after a cleaning the baby is healthy and the filters are much cleaner.

Have you had them cleaned recently?

@Ryan Redenius

How big is the property? If you are under 35 units, you are exempt from the requirement.

I agree with Eudith in collecting a rent fee. I charge a non refundable rental fee of $400-$500. This seems to go so much better than deposits although I am in a pretty good area and typically I can turn the apartment each time with using around that same dollar amount.

Eudith, do you still do a walk thru and Collect for any damages from tenants?

@Joseph Cameron

Good morning. I am catching up on old post and wanted to check in and see if you had made any moves. I live and invest in the Beverly area and would love to find others who are interested in the area.

I also see multi family properties pop up frequently in Blue Island and have always thought about investing there.

Anyone investing in any of the following & want to share their experiences?

Archer Heights

Brighton Park

McKinley Park

Garfield Ridge

I have a couple multi families in the Beverly/Morgan Park area, but the market is dry. I want to venture out, but stay in Chicago.

Any and all experiences would be appreciated.

@Colin M.

Again I would point you towards Beverly, Mt. Greenwood, Morgan Park. My 2BR apartments are renting for $1225. My 3 bedrooms are $1600. Great neighborhoods, low crime, decent schools, lots of fire/police & people who want to catch the Metra who work downtown.

@Mark Faustrum thanks for sharing Mark.

@Colin M.

I have a 5 unit in Beverly that cash flows $3,000 a month and a 2 flat in Morgan Park that cash flows $1,300 a month. Both were purchased in the past 4 years & didn't require extensive rehab. They also are in strong neighborhoods that tennants want to live in.

Deals are hard top find in the area, but if you watch the market closely, something pops up once a month.

Just my two cents.

@Lucas Hammer

What does your lender say? I have bought a 2 flat, 4 flat and multiple single family homes and all were 3.5% or 5% down. The number of dwellings listed on the zoning cert did not affect the down payment. Anything residential ie 1-4 units should qualify for low, owner occupied, down payments.

@John Warren

Beverly. Please forward their info.

@Kyle D Birch

Also, any companies you would recommend?