All Forum Posts by: Daniella Sanchez

In agreement with @Chris Szepessy and @JD Martin, I also want to mention that you want to continuously practice good landlord principles. Ideally, you want long term, considerate, and clean tenants, maybe not with these particular people, but in general. Talking to them in person establishes trust and respect and that's something you should continue with all tenants.

Hi Paul, as Nicholas mentioned asbestos is fairly manageable. As long as it is not disturbed the tenant should be fine. 

I just purchased a house in Chicago and underneath the carpeting there was that old linoleum tile. My inspector confirmed that it is most likely asbestos tile. There was hardwood underneath but I decided to put underlayment and luxury vinyl over it (essentially encapsulating it). 

As many have mentioned already, in Chicago it varies by neighborhoods and in some areas block by block. Your best bet would to visit these properties firsthand or if you can't have someone who can be your eyes and ears. Good luck!

Investment Info:

Single-family residence buy & hold investment in Melrose Park.

Purchase price: $150,000
Cash invested: $5,000

My first investment purchase! Poor thing needed a lot of work, but the good kind of work (knock on wood, nothing too pricey yet!). I'm really happy with the purchase, a lot of researching and patience allowed me to get a much larger home than my original budget allowed for.

What made you interested in investing in this type of deal?

I was tired of renting.

How did you find this deal and how did you negotiate it?

I am a real estate agent so I focused on the area I wanted to be in and was patient about finding the right deal.

How did you finance this deal?

Savings.