While the cost can vary depending on the scope, zoning, and materials, I’ve seen similar projects run anywhere from $50,000 to $150,000, depending on factors like plumbing, electrical upgrades, and structural work.If you’d like, I can connect you with a few contractors or architects in Chicago who specialize in basement conversions.

Can you imagine the “cash flow investors” who needed that cash flow when COVID hit?

My big bold move was to rent them at $150 month with tenants paying for heat and electric. 

., major systems like plumbing/electrical)Full Gut/Studs Down: $85-$120 per sq. ft.Luxury Finishes: $150+ per sq. ft.For ARV (After Repair Value), you’re absolutely right—it’s all about comparable sales ("comps").

I was an electrician for over 20 years with my last electrical job being shop foreman for a custom electrical control panel shop and UL 508 specialist.

I would be more hesitant if they were added on (new plumbing and electrical) vs just upgrades to existing.

So, if your property has all bills paid by the tenant, you will deduct from the voucher amount the set amount by bedroom count for items like water, electric, gas, etc.

An example of that is tenant must pay for additional electric over flat fee / flat limit since now there is 2 occupants in the home instead of originally one.

Hi All, What are the best cities to invest in midterm rentals which will cash flow and appreciating year over year? 

However, I also have ways for them to pay with cash, card, money order, cashiers check, and personal check.