All Forum Posts by: Zack Reder

Hey Ron, that sounds high unless those are very long floors. I've heard $40 per foot of duct and you can get an inefficient furnace from a good company for around 2.5-3k per unit. 

This is a community block development grant with 2 year affordability clause at 80% AMI to cover 75% of the cost.

Hey All,

I have very few comps because of how different my local market is from the rest of Oak Park so I'm not able to easily look at comparable units w/ and w/o HVAC in my area. I know that I'll cut down on my payments for utilities with an HVAC system - but I wanted to hear from everyone at BP. What cashflow successes have you seen with installing HVAC? Cutting costs or increasing rents? I'd love to hear some stories.

I'm currently evaluating making this improvement as I could get a fairly large grant to do so (covering 75% of the cost).

Thanks,

Zack

You can take the standard deduct + deduct any business expenses (prop taxes, maintenance, etc.). You do get tax benefits from real estate and they're a big benefit to why leveraged real estate investment is such a good ROI.

Hello BP!

I have lurked these forums for years and found connections here that I've contacted outside of posts with great success. I'm looking for some questions answered so I don't continue to melt my mind through researching small local bank info pages.

I have a few questions around MF financing in Chicago and any answers or references would be great!

• My partner and I have been DIY rehabbing a 4 unit in the area over the past 2.5 years and have done a pretty good job netting 6k/month gross on a 500k property in a good area with room for rents to increase more. Will experience be an issue with receiving a commercial MF 5+ loan?
• We make pretty good salaries at our day jobs outside of RE - making a combined 17k/month gross. I've heard this is meaningless for Commercial MF - is there any value in our incomes?
• We are going to be looking for a small MF loan. I've heard this is relatively difficult, but through enough calling around a small local bank may be willing to put up with this small loan. Any tips or pointers on this piece? The property I'm looking at would be around 600-800k
• One property I'm interested in may require some rehab work. I'm not willing to do hard money and would rather just look into financing options with longer balloon periods - any suggestions on where I should look? Also, I realize that fannie/freddie have some rehab loans but I'm pretty sure they are $1M+ minimums

Any thoughts or answers would be appreciated! Happy to add details where needed and clarify something as I'm pretty consistently lurking here. Also open to any war stories on the topic.

Thanks!
ZR