All Forum Posts by: Walker Kirkikis

@Yu Chen Most of the time this is a red flag as I have been in the rental real estate industry for a bit. I would do a couple of things that can make sure you are covered:

1. Complete Criminal, credit, eviction check, landlord references (dive 2-3 landlords back in the past.) to even see if they qualify for the unit!

2. If they qualify, Know the laws on how much you are able to collect from the tenant.

3. Once you know the law, make sure the lease clearly states the information.

4. Check the lease over with attorney.

Keep it simple! No reason to think of all the possibilities if they can’t qualify with your credit, criminal, eviction screening first! Good Luck!

@Ed Neu Thanks for this information! You are spot on, anyone can send me listings, but only the best can guide me to the ones that fit my longterm goals since I am out of state! The chart is a fantastic guideline in my search for my next rental in the Indy Market! 

Cheers

@Ray Harrell I'm installing a new shower head regardless so $11 is a cost effective replacement and will save me money for many years to come! Hope you are able to figure out the water meter situation soon!

All the best!

@Ray Harrell I have a 3-flat in Avondale and it runs me $220-240 every other month. I read a post a while back talking about changing the shower heads/ toilets. Yes the pressure will be lower in the shower head but that is the whole point to save on water. I have ordered 1.75 GPM Sava Fixed-Mount showerhead off Amazon for $11. I have not installed it yet but plan to do so in the next 2 months. Hope this helps.

Hey @Scott McGurk! This group sounds like me. Look forward to meeting everyone.

Walker Kirkikis

Hello Melsi, 

May you please email me at [email protected] in regards to this property.

Also, I would like to see what else you have!

Thank You!

All,

Wow thank you for the suggestions! What a big help this has been. I will follow up with my lawyer and make sure I'm taking all the correct steps to ensure no lawsuits!

Thanks again!

Hello all,

I hope all has been well! I have a situation at my rental property that I need professional advise on.

The facts are as stated:

1. Friday 6/17, I get a call that the 3rd floor toilet is leaking into the 2nd floor bathroom---

Action: I fix the leaking toilet that night.

2. Monday 6/20, I get a call that the 3rd floor tub is leaking into the 2nd floor bathroom---

Action: I go to the property to access the problem and uncover a non-supporting tub (the boards supporting the tub are rotted out/non existent) and severe water/mold damage to the subfloor of the entire bathroom.

Action: Call in plumber and contractor to access the repairs needed. Both say the bathroom needs to be totally gutted and a new subfloor and everything be replaced.

The problem:

The only bathroom that is working is the 2nd floor bathroom. I offered to see if the 3rd floor tenants can use the 2nd floor bathroom while I repair/renovate the 3rd floor bathroom. If the 2nd floor tenants agree to the 3rd floor tenants using their bathroom during the repairs (7-10 days) there is still a problem.... One (of two) third floor tenant does not want to use someone else's bathroom.

-These tenants are Month-to-Month tenants.

-I "assumed" them with the property.

-They are "willing" to work with me on this problem, but asked about me putting them up in a hotel during the repairs. (I would NOT like to do this $$$).

Note- The 3rd floor tenants said they have a meeting with the "Chicago Tenants Rights" tomorrow. And they would like me to let them know my actions/what is going to happen in writing.

My question: What am I responsible for doing for the 3rd floor tenants? (Getting them a hotel, Not charging them rent, Etc...)

PS- The property is in Chicago City Limits.

Thanks everyone!

Thanks for getting back to me Brie.

Cannot make it today but I will definitely try and make an upcoming one!

Hello everyone!

New to BP and also to Chicago. Does anyone have any recommendations on REIAs in the Chicago-land area?

Thanks!