DO NOT INVEST IN CHICAGO

[Listiarso Wastuargo]

The numbers look amazing on paper. Heck, I've even done 3 successful BRRRs there

But the fact that the city and the state it's so anti-landlord is very frustrating.

I have a property in the middle of BRRRR that I've finished remodeling. Bought it for $105k, do rehab and repairs worth of around $50k. I expect that it would be worth around $200k and can do full BRRRR. Then when I wanted to rent it out, suddenly an armed squatter take possession of the property. It's been 8 months since then. The police, sheriff, and what not can't help. I can't turn off the utilities for whatever reason.

And I keep piling property tax bills, and violations from the city for whatever reason, and the property was just laying there with squatter that I can't evict

Anyway, now I have this property at 5144 S Princeton, close to Washington Park, where I need someone to help remove the squatter, or even buy it for cash. I am willing to take a loss after all the repairs and remodels I did to the house.

I am just so done with Chicago

[John Warren]

@Listiarso Wastuargo this sounds like such a terrible situation. The city is tenant friendly, but I firmly believe this squatter thing is something we as property owners can fight. This is not really the intention of even the most bleeding heart politicians in this area. 

Have you connected with any other investors who know the game on the south side? I would check in with @Mark Ainley who knows a lot of the tricks from his decades on the south side. Investing on Chicago's south side definitely requires a different skill set than on the north side. 

[Chris Seveney]

@Listiarso Wastuargo

I have heard it termed crook county.

This is very unfortunate and sorry you have to go through this, worst thing is there is absolutely nothing you can do about it.

[Nathan Gesner]

Quote from @Listiarso Wastuargo:

There are certain markets that look good on paper, but a Landlord can lose tens of thousands easily with one bad tenant. I'm sorry to hear of your troubles and hope you find a solution. I don't know of any legal remedies, and I won't bother mentioning the illegal ones.

[Listiarso Wastuargo]

Thank you so much for the kind word folks.

And yes! Any leads would be highly appreciated!

[Bob Floss II]

@Listiarso Wastuargo Not all of Chicago. That area can be rough for rehabbing properties. Any property left unattended will be stripped clean or attract a squatter. When I close on flips, the seller will wait until the day of closing to have the new air conditioning unit installed and have buyer move in the next day or it will be gone.

FYI, turning off the utilities does not deter squatters. You just end up with some pretty nasty looking bathrooms. 

[Eudith Vacio]

Hey @Listiarso Wastuargo - ugh, I am so sorry to hear that this happened to you. Definitely not something that we can predict, and certain areas are more prone to this type of activity. I hope you can find someone to buy it from you, may be list in on the BiggerPockets marketplace? I trust you will figure it out!

[Jonathan Klemm]

Hey @Listiarso Wastuargo - Your story isn't super uncommon.  I understand your frustration.  It sounds like you have got the worst of Chicago.  It's completely silly how the system is set up for squatters.

I personally love Chicago regardless of the troubles, but that's mainly due to being here locally and having an awesome team.  If there is any way we can help please let me know.

[Joseph Konney]

Hi @Listiarso Wastuargo - It sounds like you need a competent attorney who specializes in evictions and has good repour with the county legal system. Here's a few things you can do to mitigate this from happening: 

Hire a house sitter (~100 per week)
Ring alarm monitoring system (~20 per month, no internet required)
Plant some flowers in the front (imply occupancy)
Install dummy or real security cameras (some area even cellular based for live capture)
Drill the exterior doors shut 

As far as theft/vandalism goes, make sure you are insured correctly with a builder's risk policy that covers it. 

[Bob Stevens]

Quote from @Listiarso Wastuargo:

The numbers look amazing on paper. Heck, I've even done 3 successful BRRRs there

But the fact that the city and the state it's so anti-landlord is very frustrating.

I have a property in the middle of BRRRR that I've finished remodeling. Bought it for $105k, do rehab and repairs worth of around $50k. I expect that it would be worth around $200k and can do full BRRRR. Then when I wanted to rent it out, suddenly an armed squatter take possession of the property. It's been 8 months since then. The police, sheriff, and what not can't help. I can't turn off the utilities for whatever reason.

And I keep piling property tax bills, and violations from the city for whatever reason, and the property was just laying there with squatter that I can't evict

Anyway, now I have this property at 5144 S Princeton, close to Washington Park, where I need someone to help remove the squatter, or even buy it for cash. I am willing to take a loss after all the repairs and remodels I did to the house.

I am just so done with Chicago

 I have delt with squatters in my market many times, typically their gone in a day or two. Its all about your team 

[Scott Mac]

There might be easier fish to fry then cook county, but I have always found the people of Chicago friendly, easy to do business with and desirous of profits--too bad it is not situated right next to Austin--what an even bigger powerhouse it would be if it were in Texas.

'

[John Warren]

@Listiarso Wastuargo did you get the squatter out? Did you make any connections that helped you out yet? Let us know how things are going. 

[Nephtalie Pierre]

Why aren't you able to evict the squatter?