All Forum Posts by: Peter B.

I had the same issue. They refused at first. Then I pointed out my other duplex had 2 meters. They then switched to 1 base charge and usage. Neighboring town I owned a four plex in I had the same issue. I brought it up. They didn't budge. The best you can do is just talk to them and try to find resolution.

I had the same issue.. I installed a taller toilet....No issues.... As they sat they would collapse and fall onto the toilet...

I see a lot of people here on BP. prefer the 30 yr... For cash flow obviously but is there any more to this? I have always went with 20 yr. It has put me in a really good spot in a short amount of time. Just looking for some other investors perspectives as I am working on a couple deals right now.

Thanks, Peter

Our 2/1s range from 25-37 per unit. without laundry. Laundry is on the house meter. Not many families though.

I have all Bosch. 18v. I have been pleased thus far. Warranties and customer service is good. My impact stopped working and they replaced no questions asked.  They have almost everything you could think of in 18v. They also have refurbished tools at a discount. So far so good...

That sounds about right... Then its 250 for parts and labor... And the part is out 3 weeks...... I use sears outlet and replace vs. repair.

Your value went up 35%.... Not necessarily your tax.. If your entire tax jurisdiction (city,village or town) was under revaluation neighboring properties values may have risen proportionately as well. Which means you would all continue to share the tax levy equally....Did you buy your property via arms length sale From a realtor off of the MLS? (not a foreclosure,short sale, relative, 1031).. If so your purchase price is a good argument for valuation. Either way I would contact assessor and get on the schedule for open book/appeal. Good Luck!

Check the tax bill to see where the value is allocated... If there is a significant amount of value on the land. Check to see how the land is zoned/described.. commercial,or forest etc. If it is forest you may be able to put it into a forestry program. Then the value/tax is substantially reduced of the land.. Then check the sale price in proportion to the assessed value... If there is room there you may get a reduction. Also do to the fact you are involved in a 1031 you could argue you were compelled to buy due to the tax sensitivity of that process. ( assessed value can not be determined from a compelled sale.) I went this route once and lost.. It was because the board had no idea what any of it meant. Had I pursued it further with the state may be I would of had a different out come. It was only 25 k. so I left it alone../ BTW. I was a state certified ascessor in Wisconsin. So these options may not be valid in Illinois. Either way good luck.

Peter

At 21 I had the down payment and jumped in.(My first buildings were c properties...So I learned a lot of things the hard way in a hurry.) I had my parents for mentors as they were into REI as well. Every couple of years I would Have enough saved for another property. I took a few years off, but have been active the last year and have expanded to the point of I could do this full time. I am a self manager and do all maintenance. My construction background has giving me a competitive advantage in that aspect. There is a lot of knowledge you can gain by being active here. Had BP been around 15 years ago.. It would off saved me a lot of headaches. So that's my experience..

Good luck!

Peter    

24 units total. My dad works part time maintenance for me. He has 38 units. So we trade labor as he is better at some things and I am better at others. My wife and mom do all the management/showings and housekeeping... My parents are retired my wife and I still work full time. Working full time we struggled at 14.. So when we picked up the latest buildings we combined efforts. So far it has went pretty well.