All Forum Posts by: Kyle D Birch

Hey Bob,

Brie from BP recommended me reading out to you about some zoning things. I sent your office and email last week and haven't heard back. Any chance we can connect?

Kyle Birch

I would disagree with John.  I have 7 doors across two properties in great neighborhoods on the south side. I acquired one in 2016 and one in 2019 and cash flow $4,000 a month. 

From what I have read, rent control is far from happening as state law prohibits it. Lightfoot would have to change that. Taxes in Chicago are cheaper and there are great neighborhoods despite what the media portrays. Of course, there are some areas to avoid, but I own and live in a neighborhood where things are better than the neighboing towns. 

I would love to connect and chat more. 

PM me and I'll connect you with my guy. I just started with him this year and he cuts 3 properties for $75. 1 SFH, one 4 flat and one 2 flat. I live in the Beverly area.

 Hi Forrest. I was curious if you could give me some advice/do you have experience in zoning. Long sotry short, I bought a sfh that was set up with 2 units. The zoning allows 2 units and the property is over 5,000 sq ft which is required for 2 units. The home has everything set up for 2 apartments ie two kitchens,  4 bedrooms, 2 baths,  2 furnaces,  4 entrances and everything is above grade. An attorney told me I could convert,  but would need to get a permit to have the zoning certificate changed.  Do you have any experience in something like this or do you know someone who would?  

I purchased a single family home which was set up with a related living situation. Eachbunit has its own bath, kitchen, bedrooms, living rooms, hvac systems and both have 2 entrances. The property is in a RS-3 zoning district, allows for 2 residential units. According to my attorney, the property has over 5,000 square feet of land which is the big barrier in conversion. He also states I need to file for a building permit to change the zoning certificate from 1 unit to 2. Does anyone have any experience in this or cannect me with someone who does?

@Costin I. Thank you for sharing! I will be using this soon.

@John Casmon Thanks for reaching out! Can you send more info? We will be on our honey moon, but if you have one in August, I will be there.

What areas do you invest in? What does your portfolio consist of? I look forward to speaking with you.

About me....I am a full time teacher and have been doing some investing on the side for the past 6 years. Below are a list of things I've done. 

SFH in at $93,000, held for 6 years, sold for $170,000. (Fiance lived in it)SFH in at $62,000 held for 22 months, invested $10,000 and sold for $101,000

SFH in at $95,000 held for 12 months, invested $35,000 sold for $184,000.SFH in at $126,000 held for 10 months, invested $45,000sold for $211,000.

Multi family 4 unit +1 garden. Purchased for $335,000, currently held for the past 2 years and refinanced at $320,000 appraised at $427,000. Cash flows $2800 a month after all expenses.

I am getting married in 4 weeks and just closed on a single family home for my family on Friday.

My fiance is closing on a 2 flat for $155k this week. My primary focus has been in the Beverly, Mt. Greenwood, Morgan Park area. 

I look forward to networking with everyone here. Anyone from Chicago who is interested in chatting anything real estate PM me or comment below.

ak to some people soon!

In the past 5 years, I have flipped 4 houses and purchased/rehabbed a 5 unit building in Chicago. I recently refinanced my multifamily with over $100k in equity. I am under contract for an FHA loan for a primary residence for my family. I am also under contract for a 2 flat in my fiance's name for a conventional loan. We are getting married in July so I wanted to utilize low rates & down payment by having her get a property mortgage in her name.

In my next move to scale, I am curious it would be possible to partner with a lifelong friend to secure a conventional loan. My friend earns $90k a year and rents. I am wodnering if he partnered with me on a BRRRR, could we put the property in his namen get a conventional loan, complete the rehab, rent it out and me assume his loan. I know the loan would need to be assumable which depends on the loan, but from what I have read, so long as it is not FHA or a VA loan, the loan MIGHT be assumable.

I has anyone done this? Is it completely impossible? Any feedback would be appreciated.

@Jordan Allinger welcome Jordan! I'm from Chicago as well and made the same decision you did just 5 years ago. Since then I have done 4 flips & 5 doors with 2 more doors coming in 3 weeks.

I am looking to expand as I currently work alone so let me know if you would ever want to chat.