All Forum Posts by: Connor O'Brien
Connor O'Brien has started 25 posts and replied 172 times.
Post: Convincing my wife on investing in low income area

- Chicago, IL
- Posts 175
- Votes 86
Which neighborhood is this? The rents you mentioned don't look like D area rents
Post: Inheriting Tenants, Help Needed

- Chicago, IL
- Posts 175
- Votes 86
If seller says there is no security deposit have them sign a document stating this. Also make sure security deposit is being held properly. This can cause issues.
then I'd pay the other tenant to leave. I paid $800 and hired movers and it was still cheaper than getting a lawyer.
I called her everyday and gave her a decreasing payout based on timeline
I actually did all that before closing because I was doing hud203k and was on a tight rehab timeline
Post: 2020 is my year - How do I start househacking in Chicago?

- Chicago, IL
- Posts 175
- Votes 86
HUD203K loan allows you to wrap your rehab into an FHA loan.
The process can be long and frustrating but I think its perfect for a 10k rehab.
if you ask for 20k but stick to your original budget you can cash out at the end and pay your closing costs. (Wish I had known that when I did mine)
My fiance and I live in back of the yards (definitely out of our comfort zones)- but all our neighbors are amazing and we've both come to love it!
Good luck!
Post: Who do you use for Chicago Laundry

- Chicago, IL
- Posts 175
- Votes 86
@Eudith Vacio
I got the following quote:
note: this is for the coin option not the card. I don't know how much that costs
SWNSX2SP115TW02 SPEED QUEEN COMMERCIAL TOP LOAD WASHER W/GREENWALD V8 COIN KIT $1186.00
SDGSXRGS113TW01 SPEED QUEEN COMMERCIAL GAS DRYER W/GREENWALD V8 COIN KIT $978.00
EQUIPMENT SUBTOTAL $2164.00
SALES TAX $216.40
INSIDE DELIVERY $126.00
INSTALLATION TO EXISTING UTILITIES $94.00
TOTAL $2600.40
Luke Kotulski with getinland
Dm me for contact info.
he did mine. I got pics on my page
Post: Who do you use for Chicago Laundry

- Chicago, IL
- Posts 175
- Votes 86
https://p.widencdn.net/mzhbjp/DL_AM19-0091_SellSheet_QT-StackWXTD_en-US
@Nick Patterson, @Eudith Vacio Any experience with speed queen? I've got my eye on "stacked washer-extractor/ tumble dryer" (link above) it says payment options are "coin, card, mobile, cash"
I know you said coin and cash probably suck. Curious if anyone has thoughts on card vs mobile.
Thanks for the thread!
Post: [Calc Review] Help me analyze this deal

- Chicago, IL
- Posts 175
- Votes 86
@Patrick Afrifah definitely!
Post: [Calc Review] Help me analyze this deal

- Chicago, IL
- Posts 175
- Votes 86
I have a 5 bedroom unit in back of the yards that rents for $1275. Maybe it's under rented but I agree with John that $1400 is a bit optimistic. (Is this SFR?)
make sure you have a professional look at the foundation. Once there is a record of these issues the seller will have to disclose them and they will want to dump the property even more. Get a quote for the work and Definitely deduct any foundation repairs from the $88k you are offering
otherwise looks great. I like that area
Post: Considering Sale of 6 unit Greystone in Chicago

- Chicago, IL
- Posts 175
- Votes 86
This sounds like a great property. What's the address?
Post: 1st Rental Property in Wicker Park, Chicago, IL

- Chicago, IL
- Posts 175
- Votes 86
Smooth