All Forum Posts by: Dale Stevens

Welcome to BP. As a fellow Chicagoan, I can offer a few pieces of advice

1. Real Estate is all about geography. While some concepts mentioned here on Bigger Pockets are in general nature true, they don't all apply to all locations. 

2. Chicago has some really insane and strict rules for landlords

3. Suburbs (pending the county) have been a blessing for me. 

4. Know the area in and out!!! Did you know, some communities require landlords to take a class on how to be a landlord? There is one that requires all homes (yes even single families) to be outfitted with fire sprinkler systems inside.

etc..

Education never stops.

First let me say welcome to a fellow Chicago area investor. Then I offer you credit for taking the time to create an account and posting. Many "wanna-be" investors just linger and never get involved nor introduce themselves. That is a huge step.

I did see another poster recommend the CCIA. Yes, getting out to local groups is important. It is said we should all learn from our mistakes, but I would rather learn from someone else's mistake so that I don't have to suffer that failure. So get out to all the local groups. Each group, I have found personally, has a completely different vibe or personality to it. 

I have been told to avoid some groups, and I went anyway, and found it very useful. There are clubs that are listed here on BP and others that are not. GO TO ALL OF THEM. Find that one or two that fit you, your desires and your personality. That is key. Think about your grade school or high school experience. You had a ton of teachers, all probably knew their subject matter well, but only 1 or 2 really "grabbed" you and engaged you. Well, the same can be said of local clubs. Get out to ALL of them. Feel free to ask me any questions about the ones I have attended. Some I felt were a waste of my time. Some were nothing but sales pitches, others full of people that were of the mantra 'fake it until you make it'. 

Dale

I would suggest getting out an networking in person. I would never hire someone online. I need to feel a level of trust and comfort with a contractor.

I was driving and saw a home being built this weekend. The fence surrounding the site had been moved, fallen in another place, and supplies (masonry) were just left open for people to take or worse, kids to play on. 

Not getting the fence back up and properly in place says they dont' pay attention to detail and just care about finishing the job without safety precautions. Can't see that until I meet someone in person and get a vibe for who they are.

Get oout to all the local meetings. I went to just about 9 or maybe even 10 of them. Most were useless, run by people that don't invest, just want to sell you products or worse the people are just cons running it hopeful to steal your money or deals. 

I go to 2 or 3 a month. The ones i attend have helped me greatly and expanded my knowledge, network and well net worth! ha

Sounds like you are off to a nice start. There a many resources available  to you around the Greater Chicago area. BP, while nice, is not the only resource (about to get lynched for saying that).

There are many great groups to attend, classes to take, etc. I suggest going to all of them. Each have their own unique way or "Vibe" to them. Some will be good for YOU and not for others. Remember, this is about how you learn, how YOU evolve etc. Advice is good, but it must work for YOU!

That piece of advice I got from an old mentor in my old 9-5. Been the greatest single piece of advice I ever took. It is about YOU so be sure to find a fit for you and what gets you excited and passionate!

I met a great gentleman that works for CIC. He has been in the industry for 3 decades. He was giving a presentation at a local REI Club, WCRT about tenant screening. Phenomenal. I remember them saying he does a yearly presentation there.

Yes, that is true. And most tenants know this fact. They are "professional" tenants. Usually they will offer to pay 2 months up front. But the thing is. you will never see another dime. For that reason, I no longer do any rentals in the city of Chicago. It is just way tenant friendly. It is 150% wrong if you ask me, but then again I am not a politician on the take.

The average time to get a tenant out of your home/apartment after you have filed eviction in #Chicago is about 8 months as of late. 

The landlord bears the burden to prove the rent wasn't paid, rather than the tenant being forced to prove they paid it.

Hence many people calling Cook County, CROOK COUNTY. Because of the dirty politicians and the people attempting to do something better for themselves are vilified rather than held out as examples of what to do.  

I have handled several evictions in Indiana, but it greatly varies by county, even some cities/towns have their own eviction courts. The state as a whole is landlord friendly and understands it is a business. Since they have been behind 2 months, you can and SHOULD file immediately. 

One thing I would ask is if there is an additional fee needed for the Sheriff, as some counties require you pay a separate fee to have the Sheriff show up once the eviction is done. If you can get into the property prior to the tenants receiving the eviction filing from the court, you should snap as many photos of the condition along with date/time stamps on them. 

I can't speak to your location, but other eviction cases in Indiana i have had, they are usually given an eviction date the first court hearing. Then you go back about 45 days later to court for the "Damages" hearing. 

I second the "Go Hawks" comment! Attempting to do some BP between periods right now.

@Account Closed - when are you and your wife returning to the area? Woudl love to sit down and discuss the area.

Are you presently living in Hebron?