All Forum Posts by: Tereza Dyerova

Thank you @Patrick Britton and @Douglas Skipworth, I will reach out!

Tereza

Hello Guys,

I wanted to ask you for a Chicago Property Management company you could recommend? I don't have a good experience so far and I would appreciate you could recommend someone who you personally know and have positive experience.

Thank you in advance for your help.

Tereza

@Neal Collins @Ante Vujic Thank you so much for your comments.  I will definitely protect my information as my as I can. I am going to look more into other encryption options. 

@Monica Breckenridge thank you very much. I am seriously thinking about going to someone else as this lack of care of my privacy information worries me. I will ask them about the manual

Best,

Tereza

Hello Guys,

I recently bought my first property in Chicago and right now I am dealing with a Property management company (I am based in California). We are working on the Change of management paperwork. They require my SSN as a necessary information in order to proceed and have them managing my property. I heard this is normal as I am the owner and I do not have the property under LLC.

What I am more worried about is the way my personal information is handled by the company. I have mailed them my personal documents, including the SSN, because I didn't want to provide my personal information through the email and they did not offer any safer option for me. 

They ended up sending a follow up document for me to sign, consisting of all documents I mailed them earlier. Believe it or not, they sent this document to me VIA EMAIL. I was expecting they will be sending this to me via Docusign which seems safer to me than email. 

Does anyone have similar experience with other Property manager companies? How do you guys usually share personal information with them? 

All institutions I have been dealing with so far had a secured website where I could upload all personal docs or they used Docusign for signing documents. Nothing ever went though email correspondence.

I will be thankful for any insight.

Thank you.

Tereza

@John Warren, thank you so much for your reply. Yes, I already raised my deductible from 1k to 2.5 K. I might raise it to 5K.  

Hopefully, I will be able to move the replacement cost a bit down.

Thank you again for your help.

Tereza

Hello Guys,

I am about to close my house in Chicago, it is a single family divided in 2 units. The price is 92K. The lender wants me to insure the house for Replacement cost which is 361K... The insurance policy raises from 1200 a year to 1800... How normal is it to insure Replacement cost when the house is 100 years old and in the area which is not so desirable? We originally planned to insure the house for 135K. I am not sure if I want to pay 70 USD per unit per month when the main purpose of this house is to have monthly cashflow.

Thank you in advance for your help.

Tereza

@Caleb Heimsoth , @Matt K. , @Matt Souza @Alan Stalter Thank you for your input. I will pass then unless I find something else in that area what is cashflowing more.

@Dylan Vargas I will try James! Thank you very much.

Tereza

Hello Guys,

I was hoping you could help me with my decision.

I am planning to invest for the first time. I am based in California so I have to buy a property out of state. I am mostly in touch with Turnkey providers around Midwest. I almost bought a duplex in Chicago, but it did not work out, because the inspection was not the way I was expecting. I had a goal to invest by the end of this year , but things just did not fall into a place. Now I have 33 K for down payment and no house.

I started to think about Detroit as an investment option. I bumped into this deal in Dearborn Heights for 65K (attached). It is definitely not cashflowing the way I would like to, but I am also counting on the appreciation since the market is still growing, that is why I am considering it.

What do you think about Detroit and about this particular deal in Dearborn? I have heard this city is quite good.

I also have another possible deal in Taylor. The numbers look very similar, cashflow is a bit over $100/month after all the expenses. In general, most numbers on houses from Turnkey providers in Detroit look very similar - I am not super impressed, but in the same time,  I am still feeling that I need to get this city a chance as this is one of the little areas that seems to be getting better and has potential in the future.

What do you think? 

Thanks a lot in advance for your comments.

Tereza