PIP Management - Chicago

[Jesse Kindra]

Hello Fellow BPers,

I am based in the Seattle area but many, many years ago went to school and worked in the Chicago metro area. With that said, I'm looking to invest in the Chicago market. Have any of you worked with PIP Management as a property manager? They also sell properties to investors. I would appreciate any input on experience or reputation of the organization. 

Thanks!

[Ryan Fox]

I have another suggestion for a company that sells something similar to what PIP Mgmt sells.  Feel free to PM me.   

[Jesse Kindra]

Hi @Ryan Fox

Thanks for responding - much appreciated. Do you know if anyone has any input on PIP Management? I found them through Real Wealth Network and others in that network have used them. I want to get a feel for what other investors had to say about them. 

I'll send you a PM as well. 

[Jason Hartman]

 Does anybody know who is behind PIP management Chicago? Who are the founders or owners? Thanks.

[Jason Dalka]

@Jason Hartman  PIP seems to be run by Scott Allbright 

[Jason Hartman]

Thanks @Jason Dalka is the name PIP an acronym? What does it stand for?

[Jason Dalka]

Paragon investment properties

[Eric M.]

Originally posted by @Jason Hartman:

Thanks @Jason Dalka is the name PIP an acronym? What does it stand for?

 Are you aware of Google? It is like the second search result.

[Jason Hartman]

@Eric M. LOL - sometimes things can be more complicated than search results. 

[Henry Lazerow]

I toured one of their projects while it was in progress and can say they do true gut rehabs (unlike a lot of the turnkey rehabs which are just cosmetics). Staff seemed cool but full disclosure never did business with them. Hope that helps.

[Eric M.]

Originally posted by @Jason Hartman:

@Eric M. LOL - sometimes things can be more complicated than search results. 

 Yeah....really complicated  things like what does pip stand for?

Again, this is the awesome thing about google. If you want more info than just search results, you can actually click on those search results and they take you right to the source of the information. You can dig around and find out as much info as possible.

[Jason Hartman]

 Yes, I’ve been using search engines for quite a while too, @Eric M., but was looking for some deeper insight.

[Jesse Kindra]

Henry, @Henry Lazerow, thank you for the input on their rehabs as that is valuable info to have. Do you have any info on PIP's/Scott's reputation in Chicago? 

Also, they do buy/operate rentals on the south side so I do recognize that you have to be careful about that. Any sense on whether they are strategic in picking streets/blocks. Any other insight by you (or anyone else) would be appreciated.

[Jesse Kindra]

Let me change the question slightly on this string. What about investing in Richton Park, Chicago Heights or Dolton? Any opinions?

[James Wigdahl]

I have 3 homes in Dolton that have been solid performers. Cash on cash average for them is 17.26%

[John Warren]

@Jesse Kindra those areas of the Chicago market won't see much appreciation, and those are the main areas that are bleeding residents across the border. That doesn't mean you can't make money, but be careful. Not having appreciation is a bigger deal than most newer investors realize. 

[Jesse Kindra]

@James Wigdahl - thank you for your input on Dolton and also passing along your cash on cash returns.

@John Warren - thank you for your comments as well.