All Forum Posts by: Frank S.

In Illinois, the DBA is a nickname. However, you can get a separate tax number, apply for a resell certificate, and get separate bank accounts. It costs $50.

Sure, I lived in Wicker Park and Edgewater. 

It's not about crime, North Lawndale has very little option to appreciate; however,'the cash flow is there. There are other areas with better infrastructure and potential. 

 I welcome some crime, for instance,  a SWAT team barricaded the street at my rental a while back, a car was set on fire, and people get shot every week. I think that is acceptable, but I have my tolerance.

Btw, it's Rogers Park, no D.

I didn't have to add a meter this year.   I got tenants  that took second as duplex up with W/D. hookups. I had left connections behind access panel. Then, I'll probably build a laundry downstairs for ground unit. This way, two meters are sufficient, for now.

The gas company was VERY responsive. An associate was ready to come over, but I simply don't want people there during ground level renovation. I'll get them in once I'm done.

Chicago has many used appliances stores. They run at a fraction of new units with 3 month warranty. I prefer this than craigslist. The used appliance stores also offer service calls.  It's a gamble, but the discount is steep. 

Good luck, 

A great tip I received was to charge a 1/2 month move in fee.  Depending on the area, this will pick up your cleaning costs and some paint for turnaround. Also, it's may motivate the tenant to stay for at least two years.  I will not charge security deposits. 

E.g., C area at B- condition, rent $1300 I charged $660 move in fee. They paid it without hesitation.   This is $55 per month income over one year tenancy. 

@Angie B., thank you for this post!  I see a 60% filter through the pre-screening. I can't even dream of making 60 phone calls.  From those 20 responses, a few "don't have rental history" or clearly know the meaning of unlawful detainer. Others, don't smoke "inside" - in Chicago's sub zero winters.  However, one or two are good candidates.   I need to set up the appointments with text message reminders.  That's a great tip. 

I would gladly pay for the service, too!

@Brandon Turner, an "Ultimate Guide on How to Schedule Appointments and Pre-screen Tenants "would be great!!  The screening guide, rocks, btw!

Tenant season is upon us.     This is exhausting. So I am trying to create a system to screen people, this is  a great thread. Thanks!!!

I have hotpads, and CLs adds. I created a google form and respond only to those that fill up the form.

On google, I have set up "Canned Responses". I used this to direct prospective tenants to the form. If they don't complete the form, they probably don't care. 

http://www.wikihow.com/Use-Canned-Responses-in-Gma...

I asked basic questions, current rent, reason for moving, if they smoke, have pets, and if they comply with the qualifications. 

Then, I download the spreadsheet, eliminate the ones that don't qualify and call others. 

I set up three showings per week on my time, not their time.  I  need to read about the text message, even with this, I get tons of no shows.

Thanks!!!

Howdy, 

I got two furnaces installed this year.  The first one was 1400 s.f, 95% eff, two level, two returns, $4,200 with Lennox furnace and all materials.  I didn't like the installation.  One vent was undersized and the furnance should've been mounted higher. 

Second, 2/1, eat in kitchen,  700 S.F. cookie cutter Goodman at $2,400 with all materials.  Good installer, works with investors.

What are you paying in Chicago?

Frank

Congrats!

Now, how would you address this with a tenant?  Let's say my tenants drop a teddy bear down the toilet.  Do I need a special line on my lease to bill them for this, or do you think is not worth the hassle? 

I am going with vinyl plank. Installation takes place tomorrow.  Here is one of the typical bids bids from a contractor.  

I got a better deal by wrapping the work with doors, trim, and bath trim. 

Install 440 s/f red oak wood for $1 per s/f

Total $440 to install wood

$1.75 per s/f wood sanding with 3 coat finish, all material and labor included

Total $770 for woodsanding with 3 coat finish.

Install $440

Wood sanding and 3 coat finish $770

Total $1,210

Wood cost around $1,350 for 480 s/f red oak wood 3-1/4 with the 10% waste added in. If you buy the wood I can just charge you to install and finish the wood to save you money.

Otherwise I'll charge $6.50 per s/f for everything included wood delivery, install, all materials, 2 threshold and wood sanding and 3 coat finish for a total of $2,860.

Is this your top unit? If so, the vent is 4", for the stack goes through the  roof. At other levels, the 4" waste should allow sufficient air. It's highly likely not the vent, sorry. If so, you can't rod it if located at a lower floors.  At the highest level, it goes through the roof.

Get a great knowledgeable contractor. 

If still backing up to the tub, they, didn't do a good job rodding. If the toilet is not flushing, have them use the auger or replace.

Best of luck,

Frank