All Forum Posts by: Mike Nelson

Can't they request their cat to get rid of the skunk?  Cats are supposed to be able to deal with all kinds of small beasts.

I wonder what kind of person has 8 dogs- they may have other issues.  I guess 8 dogs are more than 8 times as destructive as one.  There may be an exponential factor involved.  I have one Labradoodle, and she has already destroyed several pairs of shoes and books, and started a fire.

Using the legal system, how long does it take to get rid of a ghost in Iowa?  That may be an option.  No legal advice given.

Some good recommendations above.   I also like Multifamily Millions or anything by David Lindahl.   Lately I have been steeping back and reading more general business books to help me brainstorm..  Guy Spier and also Mohnish Pabrai  who are followers of Warren Buffett wrote some interesting books on investing (not necessarily real estate).  I have read some good books by and about Warren Buffett.  This has taught me some big-picture concepts and much about investing.

Almost certainly no.  I have found people with evictions often have stories of how it was another person's fault, such a  spouse or roommate, job loss, hurricane, etc.  The bottom line is there is an eviction, and there is uncertainty, and a possibility  you would have to evict them in the furture.

I live in Oak Park, but I don't have any income property here.  Generally, the return on multi-family properties is low, not that it couldn't be done.  There is not much supply available in the market.  Some big players are building large "luxury" high-rises here, so there is activity.  Oak Park has a reputation for good schools, a major reason I am here.  It is easy to get downtown on the CTA train.   I would buy the right property at the right price, but Forest Park (neighbor to the west. seems to be a desirable area.

in 2015 Warren Buffett took a 8% stake in REIT Seritage Growth Properties. Seritage was spun-off from Sears, and holds many store buildings Sears leases cheaply. If Sears closes a store or goes out of business, stores can be developed and leased at a multiple several times higher. One question is if a big enough percentage of units can be redeveloped fast enough, as well as some legal issues in the case of a bankruptcy. There are many well-located properties, but not all are likely to be desireable. It is interesting that Buffett has a position, and I wonder what numbers he has run.

Good advise here.  I did some research on mutual funds and discovered how what I thought was the "nominal" fee managers charge adds up when compounded over years, and that is important to be aware of fees and minimize them when possible.  Some folks even recommend index funds because of their low fees and historic returns.  Some managers and advisers are excellent, but many are mediocre.

I had tenants who had bedbugs in their Chicago apartment.  I believe the tenants probably brought the bedbugs in on used furniture brought in.  However, I interpret the law as it is the landlord's duty to have the bedbugs removed at landlord's expense.  Let's say it is only 99% certain tenant is at fault.  I felt the treatment was too expensive, but most importantly it was effective.  Fortunately, they did not try to use bedbugs as an excuse to screw the landlord beyond the extermination expense.

I have a Bachelor's Degree in Architecture from the University of Wisconsin-Milwaukee.  I still enjoy working in the architecture field, in multo-unit new construction and renovation projects.  In the past I have allocated much of my time to acquisition, renovation, and management of residential projects.