All Forum Posts by: Timothy Harstead

I run Chicago Style Management, we just started a brokerage arm and would love to chat and see how we can help ignite your career.

We relocate tenants if there is a hazard,  always use your own home as a guideline would you move out to get new floors probably not, now if a pipe burst and created mold you probably would.  but for floors they just need to move there furniture for a day, your doing them a favor,  we do floors for tenants with them living there all the time no problem

Until builders can catch up and create millions of homes, I think we will continue to see huge increases in sales prices, however, the lack of sellers means numbers in terms of how many houses sold will continue to go down driving prices up even higher

as for the numbers, look at what comps they are pulling. Start to see what makes one more than the other you might have one site looking at quartz counter tops with huge living rooms and the other looking at plastic counter tops,  being able to identify this will help you identify where your property could sit.  

also especially for the first few I would look to build a good team in the area you want to work so they can help you understand these differences

I just got off a call yesterday with a investor group with a bunch of blue island buildings,  from there experience tenants have been pretty good but the buildings are older and a lot of unexpected problems have arisen so I would say make sure to have a good inspector and some reserves incase work is needed and its a good area to cash flow.

The last five years it was really easy to eat, unfortunately, that is not the norm and shouldn't be for a lot of reasons,  with that being said real estate has always been a much harder investment to get into and maintain than say the stock market, with that being said if you take the work to learn it and find the gold inside the rocks, you'll make far more than you could on a stock,  if it was easy to do everyone would be doing it and no one would be making money.

You may be able to do one contract, however, we have run into issues with having to show a proper management contract for utilities or subsidies that we needed one that just had the one LLC on it. With that being said if you're using an esig software we are talking about a few clicks why not just do it the long way to be safe.

get an attorney or property manager involved who has attorney connections. They are going to keep pushing you back further and further, and if you don't start the eviction process, you may be playing their games for another year or two.

Communication is the biggest issue, and clients leave one company to come to ours; the next one is a team. If you are hiring a one-man shop, the odds of that one-man being able to put the effort needed into all the areas needed across 50 or 100 units is very rare, much better service with a team that can take 2am calls and deal with villages etc.

congrats! Sometimes, what you learn from your mistakes can be the most significant success of a project.