All Forum Posts by: Steve G.

@Seb Ko

How many units is this for? Difficult to get anyone's attention for one off calls. May be better to go with a maintenance company if it's something larger.

Originally posted by @Account Closed:

@Steve G. I’m curious about the eviction laws are in the area.  I’ve read that in parts of Illinois it is an expensive and drawn out process. What’s your experience been like?

DuPage County is the fastest for evictions from my experience. Takes time from start to finish, but last time took me around 6-8 weeks. Much better than other counties in Illinois.

@Igor Levit I own multifamily exclusive in Chicago suburbs. There's little inventory right now but when something hits the market, you have to decide and move fast.

Property is under contract.  Sent you a message on other possible deals.

@Michael Stockwell

Self manage

I'm going to list thru flat fee service or by owner.  If you have any qualified buyers, I'm offering 2.5 commission.

@Omar Khan Great points and the dilemma at hand for many. Sit on the sidelines, pass on many deals or accept a lower return rate and continue increasing cash flow across an expanding portfolio. If you're happy with current portfolio and cash flow, it's easy to sit tight until you find a great match or until market turns. If looking to grow though, I think it's a matter of whether or not you're willing to accept a lower return and work with smaller margins.

@Harpreet Singh Prices and interest rates have been climbing. It makes deals more difficult if you're comparing them to what things looked like 1 or 2 years ago. Multi family deals at least in my area are still moving. You need to know your target cash flow and return rate and start looking at deals until a match comes up.

Cap rates have compressed over time. Locally in the Chicago suburban market, a 6% cap rate is common and to be expected. With rising interest rates, I've heard push back that cap rates don't make sense and deals aren't "good", especially if there isn't a big value add opportunity. For those in growth mode, how do you counter the cap rate concern?

I'm considering selling my 4 unit apartment building in Addison, Chicago suburb, DuPage county in Illinois. Does anyone have a good flat fee MLS service they've used?