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All Forum Posts by: Ryan Cotter

Ryan Cotter has started 2 posts and replied 11 times.

Post: Inherited Bed Bugs and Replacing Tenant's Possessions

Ryan CotterPosted
  • Contractor
  • Chicago, IL
  • Posts 11
  • Votes 2

Thanks everyone for your feedback, it's greatly appreciated! We're biting the bullet to treat the entire building and replace our one tenant's bed/couch on our own dime. 

Post: Inherited Bed Bugs and Replacing Tenant's Possessions

Ryan CotterPosted
  • Contractor
  • Chicago, IL
  • Posts 11
  • Votes 2

Hi All - curious if others have encountered similar situations and how they may have addressed it.

My partner and I recently closed on our second property in NW Indiana, and we've come to learn that all five units are infested with bed bugs to some degree. We're hiring an exterminator to address the issue but they've told us the tenant's bed in one of the units should be replaced to avoid the critters coming back. I'm curious if we should feel obligated to pay for the tenant's new bed - what do you think?

It's not a huge expense in the grand scheme of things, and seems like paying for it would be a defensive measure on our part to avoid more bugs, but we want to prevent a slippery slope of all the tenants asking for personal items to be replaced.

Post: Section 8 mobility program

Ryan CotterPosted
  • Contractor
  • Chicago, IL
  • Posts 11
  • Votes 2

Hi @William Munoz - I know this was posted over a year ago but were you able to get any feedback on the mobility zone program? I'm also interested in pursuing the mobility zone program but would like some more intel beyond what's available on CHA's website.

Post: Northwest Indiana investing

Ryan CotterPosted
  • Contractor
  • Chicago, IL
  • Posts 11
  • Votes 2

@Ben Martin I recently purchased a 5 unit in South Hammond which is going great! Feel free to message me and we can connect.

Post: Condo Deconversion - Chicago

Ryan CotterPosted
  • Contractor
  • Chicago, IL
  • Posts 11
  • Votes 2

@Darius M. - just curious but did you get any more feedback on the deconversion process or did you end up going through with the deal?

Post: Chicago Investors Meetup - July

Ryan CotterPosted
  • Contractor
  • Chicago, IL
  • Posts 11
  • Votes 2

Is this event still scheduled for tonight? I'd like to attend but noticed it's no longer on the "upcoming events near you" page.

Post: Value of private rooftop deck?

Ryan CotterPosted
  • Contractor
  • Chicago, IL
  • Posts 11
  • Votes 2
Mitchell J. Is the condo a duplexed unit? I find most of the condos similar to your description in my area are duplexed which also changes the equation.

Post: Beginner looking for advice

Ryan CotterPosted
  • Contractor
  • Chicago, IL
  • Posts 11
  • Votes 2

@Jeff Burdick thx! will PM you for contact info. PITI = $2000, HOA = $267. Property is within the Western/North/Milwaukee triangle (since your local).

Post: Beginner looking for advice

Ryan CotterPosted
  • Contractor
  • Chicago, IL
  • Posts 11
  • Votes 2

@Bill Schrimpf thanks for the quick reply. The goal of the 2nd purchase would be to house hack or use it as a primary residence. In the house hack situation, my personal geographical taste will drive the purchase price up and may put it out of reach - I understand I should definitely work with a lender to understand what financing options there are.