All Forum Posts by: Rich Thomas

Heather Hopkins do you ever come across any larger multi family? Anything around 1 million?

Robert R. Do you own any property in Dolton area? Im looking at some houses there and trying to get some feedback/thoughts...

Rick Pinney have you heard that section 8 rental amounts are on the chopping block? I guess thats another thinng I will need to look into!

Sean B. Did you ever end up in Dolton? Im currently looking at a portfolio of properties there and looking for some outside feedback on the area...

Michael VanderVelde did you ever end up buying property in Dolton? Im currenty looking at a few properties in the area that have some decent numbers even with the high tax rates...

Jerome Foster what is this water Billissue all about ? I found a brief article on it saying some home owners were getting bills 100x larger than their regular bills...is this something that is being fixed with the village ? i feel like I keep finding more and more reasons to walk away from this deal even though the numbers look really good on paper...

Hello, I am currently looking at a portfolio of 18 SFH in south chicago suburbs, mostly in Dolton but also riverdale and calumet city. In doing some research the most obvious issues that I see with the area are: 1. High (ridiculous) tax rates 2. Tenant friendly laws ( nightmare evictions) 3. Declining population With all of these red flags and im sure some other issues the portfolio itself has some VERY strong numbers with a good looking return. The properties in the portfolio have all been rehabbed to some extent, some more than others. The majority are rented to section 8 tenants and with some being ling term tenants... All this being said id love to get some advice from locals that know the area. Right now my biggest concern is the taxes and having a huge jump over the next few years that could kill my cash flow and yearly returns... If the numbers look strong and the properties are in good shape would you still invest ?

Hi Sam T. Did you ever find a PM for this area? I am looking at a portfolio of SFH in the area and would love to hear about your experiences..

Alberto Fernandez Do you own SFH within Dolton? I am currently looking at a package of SFH which are mostly located in Dolton and would love to talk some more and get your opinion on some things...

Hi Maya Kherani I just came across your post and wanted to reach out. I see that you are an out of state investor who owns in Dolton. Im currently looking at a package of 18 SFh mostly in Dolton and wanted to get your opinion on the area. On paper the homes seem to have a great cash flow and are mostly rented and stabilized by sec 8 renters... Im also reading alot of negatives on here about the prop taxes and also the un friendly landlord laws and eviction process...any info you can give and also your personal experience would be appreciated! Thanks!