All Forum Posts by: Benjamin Timmins

Anybody?

I think that might fall under the laws of habitability, and the clause might be unenforceable. But I am no lawyer, so don't base your decision on me.

If you live in one of the units in a multiple unit building you own, do you still want landlords insurance? Or would you go with home owners?

Thats why I have a Note 3. Dont need an app and dont need to carry around a tablet (which I find useless).

@Cliff Mccue All the neighborhoods I listed are in walking distance to the red line so no need to commute to the transit station. Your better off not driving as much as possible when you live in Chicago. Drive times are huge, parking costs are fortune (as much as 400 a month for a parking spot in downtown area, not to mention unless you park in the street or have your own driveway, itll be around 250 a month to park your car at your apartment ). Around 66% of the people that move to Chicago end up selling their car within a year. I didn't even bring a car when I moved to Chicago. With the L and the buses, you can get anywhere you need to go very easily.

Lincoln Park is one of the nicest neighborhoods in Chicago, its just north of downtown. It is expensive though. 

Wrigleyville is just north of LP and a little less expensive.

Edgewater is further north and a lot less expensive. Its a blue collar working class neighborhood.

All three neighborhoods are accessible using the red line, which is the only "L" train that runs 24 hours. 

Uptown is another neighborhood you could check out. I lived in Edgewater for a year and liked it. Its about a 30 min ride on the red line from downtown. Lots of grocery stores, and the best burgers in Chicago is in a restaurant/bar in Edgewater called Moody's Pub.

Bear in mind, Chicago is super expensive to live in. Nothing is cheap. If you can find a bar selling a bottle of Bud for 5 bucks, thats considered cheap in Chicago. They tax the hell out of you too. Only place I know of where you pay taxes on your groceries.

If you don't mind a rougher neighborhood but still relatively safe if your used to living in big cities, you can look at Rodger's Park.

You could try looking in Evanston, which is a college town just north of Chicago, still accessible by rapid transit (45min to an hour to downtown Chicago).

 What nonsense. So if the landlord doesn't want to have to babysit adults, they are just in it for the money? BTW, you know that people do real estate investing make a living, not a hobby. This is a capitalistic society. Making money is the whole point.

Depends on how long you plan on holding it, how much you think it will depreciate, and if you think the depreciation is only a temporary thing, or is it going to continue. Lots of factors you have to take into consideration.

I would imagine so. Just make a mental note for when it comes tax time, that you did a deal on your personal income taxes before you started your LLC. I worded that wrong but Im sure you know what I mean.

I get a site error when I try and view them. Looking at the forum, and the different sections is up, but error for recent discussions.