All Forum Posts by: Dooreuhn Cee

@Paul S. agreed, thats why i never have it... fortunately most of the rentals have nice hardwood underneath the carpet that can be sanded and restored... saw your earlier comment about floors and I have acquired a property with solid floors that needed remediation because of pets... i guess if neglectful owners let acidic dog piss sit long enough damage is done

Traditionally no pets.  

However, I have lots of C class rentals and am cutting out a lot of well-qualified tenants, so I am moving to case-by-case policy (likely small dogs 10-15 #).  Also, I have had several renters bring a pet despite an application saying there is no pet.  At that point, it is not economically efficient to evict or ask to move.  I mainly have SFHs with yards, basements, hardwood and tile, no carpet.  

@Kate Santon do you mind sharing more specifics on cash flow? with a 170k purchase and assumed rental rate of 1300-1400 how much is left over?

@Brandon Turner thanks, and "Chicago" is my first keyword search.  Will add other. Great work here.

Anderson Pest Control and Terminix have competitive rates on subscription, but most importantly will come back an unlimited amount of times... my tenants cal them directly and don't bother me

thanks @J. Martin good tip on handmanmatters, just made contact with them for when my handyman is misbehaving

@brie  Thank you for the info... listening to your podcast apperance now

Hi Folks,

Found the podcast through Stitcher and have back tracked about 20 archived episodes over the last couple of weeks.  I should have been here a long time ago because I feel like I am on an island at times.  

About me:

My experience in real estate includes about 50 closing transactions for which I was a principle in a purchase or sale (mostly SFSs, also mutis and vacant lots). Currently, I hold 15 SFHs rehab and rentals in Chicago that are remote from my San Jose, CA home. Also, I manage 15 rehab and rentals for clients. I hold a broker license in IL and an attorney license in CA.

Initially in 2005, during the boom, I purchased a principle residence in San Jose, CA which jumped 100k, so I took out equity for investing. After a few deals in CA, I recognized the limitations of carrying 500k mortgages and started buying in my hometown Chicago for 100k, and a few other states, long distance. In 2008, during the bust, I started to foreclose and short sale my inventory of 10 SFHs. In 2010, I started phase 2 of buying 15 SFHs in Chicago which I now manage remotely along with 15 purchase and rehabs for clients.