All Forum Posts by: Andy Nathan

For winterizing a property without heat, shutting off the water supply is a key step to prevent pipes from freezing and bursting. You can shut off the water yourself by turning off the main valve, but also drain the pipes by opening all faucets and flushing toilets to clear out any remaining water. You might also want to consider adding antifreeze to drains and toilets. If you're unsure about the shut-off process, contacting the city of Chicago for assistance or confirmation is a good idea.

Has anyone here used a professional service to winterize their property, and if so, was it worth it?

It's great that you're starting young and already taking steps by educating yourself and setting clear goals! Trusting lenders, agents, and contractors can be tough, but building a solid team and doing your due diligence will help ease that process. Keep networking and learning—you’re on the right path to becoming a successful real estate investor!

Beyond the tax advantages, installing solar panels can be a great way to market higher-end rental properties. Eco-conscious renters are drawn to sustainable living options, and promoting the long-term energy savings and reduced carbon footprint can set your rental apart, making it more appealing to premium tenants.

Hi there,

Maybe you can do a portfolio loan. It would probably be a commercial-type loan. However, conventional allows up to 10 loans.

Totally agree! I’ve come across a lot of new investors who throw around phrases like 'closing escrow' to sound more experienced. In my experience, keeping things simple and straightforward with sellers works best. I’ve never seen a seasoned investor feel the need to talk fancy—usually, it’s the ones with less experience trying to overcompensate. At the end of the day, clarity and directness lead to smoother transactions. Curious to hear if others have encountered the same!

Insightful post! The Dunning-Kruger effect is definitely relevant in real estate investing. I've seen people jump in with overconfidence after doing minimal research, thinking they can make quick profits. It’s a reminder that in real estate, continuous learning and valuing experienced advice can save a lot of costly mistakes.

High turnover fees without transparency can be a red flag, and getting outside quotes might help ensure you're not being overcharged. As for the move-in fee versus security deposit issue, many landlords prefer security deposits for better protection, despite the extra steps required in Illinois. Regarding delayed advertising, early marketing is a common practice to minimize vacancies, so you may want to negotiate this with your management team.

Yes, Chicago has strict regulations for short-term rentals, including mandatory registration and zoning restrictions. Be sure to check local rules and your building's status before proceeding to avoid fines or penalties. What has been your biggest concern about navigating these regulations?

Red flags to watch for in a house hack deal include high vacancy rates in the area, poor property conditions, or unexpected zoning restrictions. Also, be cautious of overestimating rental income or underestimating repair costs. One thing I wish I knew before my first deal was the importance of budgeting for long-term maintenance and unexpected expenses—it can make or break your cash flow.

Ready for the next Cashflow Game? If you want a fun way to hone your investing, finance, partnering, and other skills needed for real estate and finance in general, then join us.

A&N Mortgage is the space host. Food will be provided by Creative Smart Investments, LLC.

As a treat, we have food to enjoy while we play.

Robert Kiyosaki's Cashflow game is a great way to learn about real estate and investing while hanging out with other entrepreneurs and investors.

Note: The host, Andy Nathan, is a licensed Realtor with Kale Realty (License # 475.190777), a General Contractor with Creative Smart Contractors, LLC (#TGC133460), and also a real estate investor with Creative Smart Investments, LLC. The three companies are not connected.

If you want to be a food sponsor for future months, please get in touch with the organizer (Andy Nathan)