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All Forum Posts by: Sarah Lewis

Sarah Lewis has started 0 posts and replied 40 times.

Post: Water prices in how to bake them into Rents

Sarah LewisPosted
  • Investor
  • Chicago, IL
  • Posts 40
  • Votes 33

I have never heard of Chicago properties being separated by unit. Not a thing here.

Post: Investing in Older Properties

Sarah LewisPosted
  • Investor
  • Chicago, IL
  • Posts 40
  • Votes 33

Do you have to do any earthquake retrofitting in LA?

Post: Property Drive-Bys (Chicago)

Sarah LewisPosted
  • Investor
  • Chicago, IL
  • Posts 40
  • Votes 33

Try Google street view.

Post: Who do I sue first?

Sarah LewisPosted
  • Investor
  • Chicago, IL
  • Posts 40
  • Votes 33

I can't for the life of me understand why the contract asked the seller to do something 'subsequent to' sale as opposed to prior to the closing. Especially something so critical to the value and use of the property! The time to negotiate is before the contract is signed not after!

That said, now is not the time to get a bargain lawyer and go to court pro se. You need a really experienced attorney who has dealt with multiple local zoning matters. If this lawyer has connections in city hall, all the better.

Post: Firearms Lease Clause Example

Sarah LewisPosted
  • Investor
  • Chicago, IL
  • Posts 40
  • Votes 33

Also check with your insurance agent to see what, if anything, you might be liable for if a shooting occurs on premises.

Post: Good House hack / duplex / triplex areas?

Sarah LewisPosted
  • Investor
  • Chicago, IL
  • Posts 40
  • Votes 33

Pro Tip: In Chicago, a duplex is a two story condo/apartmen, not a two unit building. So you will see ads for a 'duplex down', which is first floor with interior stairs to basement or less commonly 'duplex up' which is more often a  new construction condo with interior access to private rooftop. 

What other parts of the country call a duplex, we ( in Chicago) call a 'two flat' (in Boston a 'double decker'), a triplex is called a three-flat in Chicago.

I was amazed to get rent for all 7 units on or before May 1st! Usually I get at least a few on the 2nd 3rd or even 4th of the month.

Post: Is a 8.20% Cash on Cash return good for multi-fam investment?

Sarah LewisPosted
  • Investor
  • Chicago, IL
  • Posts 40
  • Votes 33

Is the property really in Bucktown proper?

Post: Have rental applications slowed down for you during quarantine?

Sarah LewisPosted
  • Investor
  • Chicago, IL
  • Posts 40
  • Votes 33

I rented out a nice 1 bedroom apt in Edgewater in mid February for early April occupancy. I got a great rent and excellent tenants. I did 3 back-to-back showings one afternoon and that was it! Boy, was I lucky.  Three weeks later and who knows....

In general, in Chicago, the sweet spot is to list unit 6 weeks out.But with current stay-at-home order, it is not legal to show an occupied apartment. (Personally, I think that is fair)

Post: Got a lease agent, but I got the lead earlier - what's next?

Sarah LewisPosted
  • Investor
  • Chicago, IL
  • Posts 40
  • Votes 33

The time to negotiate is before you ask the agent to do all of the background checks and lease signing.