All Forum Posts by: Victor So

Hello, 

I am looking for a person who can replace a back door and it's frame near the northwest side of Chicago? 

Any suggestions would be appreciated!

Hi, I am looking to expand my portfolio in Chicago by investing in two or three bedroom apartments and or multifamily. I’m specifically interested in properties on the north side of the city in quaint areas along the lakefront time frame is to purchase within the next 12 months.

Hey everyone, 

Has anyone done short term rentals in Chicago. I have been reading thier seems to be a lot of rules and regulations. Does anyone have any pointers? 

Thank you in advance 

Hi, I have been deeply involved in researching and learning about house hacking. I came to the conclusion that purchasing a 2bd/1ba condo is my best option. I will use the rent by room strategy for a year, then move out and lease the condo under 1 lease.

Does anyone have any advice about condo hacking, or can anyone describe their personal experience?

Also does anyone have any references for realtors in Chicago who are experienced in condos and rental properties?

Thank you!!!

Hello,

I recently got pre approved and now looking at properties to house hack in the Chicago land area (suburbs). As I'm going through the MLS I'm coming up with my questions for the realtor.

My questions for you all:
Is there red flags that you look when searching for a house hack deal?

And 

What is something you wish you had know before going into your first deal? 

Hello!

I am 24 years old and I just moved to the Lakeview area in Chicago, IL. 

I've recently become interested in the idea of Real Estate Investing for a few reasons. I have two friends who own rental properties and they are successful with their properties, I read Rich Dad Poor Dad twice along with Rental Property Investing and Power of Habit, I've been told by multiple people apart of the Baby Boomer and Generation X that they wish they invested in Real Estate at my age, I was a Resident Advisor at my University and I enjoyed that role so some of the skills are transferrable, and lastly this is the best time for me to take a risk. I don't have any debt and I don't have kids or much going on outside of my 9-5 career. 

I NEED all of the help and support that I can get to take action and make it happen. I'm not one to take risks but I feel I am capable of becoming a Real Estate Investor as long as I do my due diligence. I'm reading up on books and articles on how to do this but sometimes it's easier to join social groups or talk to people close to me that have done it before.

Right now my goal is to get pre-approved for a loan and to learn from others. Once that has been done I'd like to purchase a property walking distance from myself so I can keep an eye on the property and because I don't have a car. I plan to manage this property myself, manage the finances, manage the tenet forms and etc all by myself so I can learn how to do everything right away when I'm first starting. My biggest fear or weaknesses will be trusting lenders, trusting Real Estate Agents, and trusting contractors. I believe I can do a good job as a Landlord once I have tenants and when I'm up and running. Hoping to accomplish this in the next 3-months. 

Hoping to connect with those who have done this before! Much appreciated!

-Mitchell Petrosky

Anyone familar with listing an Airbnb listing in last few months? Are there additional primary residence requirements such as homeowners exemption required, or anyone know if this is coming down the line?

Hello everyone. I am a first time homebuyer closing escrow for a condo. My strategy is to house hack but not too sure on how  set my listings for the two extra bedrooms that I have. My main goal is to lower my monthly mortgage payment as best as I could. 

Hi! I currently have a large 1/1 with a ton of space in a highly desirable location in Chicago. With interest rates being so high and it being a condo I pay just under 3k/month. The condo surprisingly has no limit on rentals, as confirmed by my lawyer I could Airbnb it if I wanted to. Right now I have a very demanding 9-5 and don’t see running an Airbnb as an option right now. I have a great contractor and have explored adding a bath for 45k and/or add a bedroom (removing the large dining room). If I add a bath I could split the unit and house hack, however I don’t see it covering all of my housing costs/renovation cost at least for some time. Alternatively, if I left the unit as is, or added a bedroom for a much smaller cost by removing the dining room, I could rent the entire unit out on a short or medium term basis, for at or above the monthly cost, then look for a separate house hack with a bath already installed. Many thanks in advance!

Hello, does anyone have any experience with house hacking in Chicago? I will be graduating college in May 2025 and would like to work/live in the city. I am considering buying a 2 bedroom condo near the loop and renting out the other bedroom. Would it still be worth it if I'm still having to pay around $1,500 a month to live there? Is house-hacking a condo in Chicago a feasible option to begin with? I'd love for any opinions and feedback!