All Forum Posts by: Christopher Malone

Thanks for the response. I don't know if they do, but what's confusing is how it is printed in the guidebook. It does not clarify what qualifies as a "Other sleeping area", or is the requirement only pertains to bedrooms above grade. Getting the person that decides today is the day they are going to measure ceiling heights would be just my luck. 

I am reading the HQS Inspection guidebook and it states on page 62 section 6.1 

"Determine that three quarters (75%) of every bedroom has a floor-to-ceiling height of 7 feet or above. If room is larger than 70 square feet with at least 70 square feet of floor space, meets the minimum ceiling height requirement of 7 feet, then this provision is acceptable."

Then the next section under states that 

"other rooms used for sleeping have no ceiling height or size requirement."

So here is my situation, In Chicago I have 2 bedrooms above grade, and 1 bedroom below grade. In the basement the floor-to-ceiling measurements are 6'10", 2" below the 7' minimum requirement. Will this be an issue with passing a CHA inspection? 

@Steven Glowacki When you say that you will get a $30,000 HELOC and after a year refinance to get your money back out, I assume you mean from the rental property you plan to purchase using the BRRR strategy?

@Wayne Brooks I also had that idea in mind. I just want to get a feel for what type of people they are and if I can build a relationship like that.

@Mark Bookhagen I was looking at sealing it temporarily until it is occupied, or turning off the breaker.

@Jassem A. The problem I have with that is I believe the breaker is also tied to the light on the side of the house that is on a timer. It at least gives the impression that someone is there at night. 

I visited a property in Chicago that I am set to close on in a couple of weeks to get some measurements. I walked around to the backyard and discovered an orange power cord going from the outside outlet, under the fence, over into the neighbors back door. I unplugged it and went back into the house to lock up with the intentions of going next door and introducing myself. When I walked back outside, the cord was mysteriously gone...  I knocked on the door and ringed the door bell, but no one answered. The electricity isn't in my name as of yet, but the thought that they may continue to do this while the property is vacant is getting to me, and also the curiosity of why they would be doing it. 

Has anyone had experience with this, and if so, how did you prevent it? My best idea is to switch off all of the breakers before leaving each day.  Thanks!

I agree with the above post. As an agent, showing properties can take up a lot of precious time (and Gas). Doing this just to find out your potential client is just window shopping or never had the funds to ever consider closing a deal to begin with can leave a bad taste in an agents mouth. 

I appreciate this post as I am new and will soon be a landlord in a couple of months. While I was putting together my application and qualifications, I let a couple of family members read over it to give me their opinion (first mistake). They feel that the questions I am asking are too tough and too personal. As I explained to them, I would rather weed out the jerks on the front end with a tough app vs. having a weak app and having to deal with evection, especially dealing with tenants in Chicago.

@Greg H.

That makes total sense! Thank you! I was under the assumption that after the GNND period ended, it would be open to everyone else. Thank you for your help!

@Greg H.

Correct, the timer expires tomorrow morning, they are allowing offers to be submitted as backup offers now. I would like to be the first offer on the table and get accepted before it enters the extended period. It is currently listed as a 2 Bed 1 Bath, but it is really a 3 bed 2 bath! It's located in a quiet neighborhood in Chicago, and based on the numbers, will make a great 1st property to launch my investing career. 

Thanks Greg H. I did not mention that iI cannot bid on the property as it is currently open to City works, Officers, Firemen, etc. The property will be out of its bidding stage tomorrow morning and will be available for investors. So my offer is actually a backup offer if no one bids on it today. Will the same process apply in this scenario?