All Forum Posts by: Mark Ainley

Building in the numbers a third party company, whether it be a prop man, maintenance person, or a landlord assistance company, is a good idea.  I have seen a lot of landlords get worn out fast doing it all themselves!

It all has to do with the neighborhood and tenants.  This is what our company does for a living and if it is class b minus or lower we take a pass unless we have someone local when it is that far.  Maintenance, collections, and oversight will wear you down. 

@brie Schmidt I will be in San Francisco!!!!!!!

I have him heads up u might.  He does texting too. 

Roy A. - this is a good guy to know and has been in biz for 15 years now.   If he can't do it due to beig busy he will refer you to someone else qualified.  

LET HER DIE THERE!!!!  

I hate turnover and love long term tenants and she sounds like she isn't going anywhere. Across the county tenants are not allowed to pay "on the side" but they are allowed to "pay extra to rent garage", "lease parking", or "lease the appliances from you" and this is legal in the eyes of HUD so long as the HUD contract does not include any of the above so that is a way you can maybe make up the difference.

But if not I am not sure what type of work(management time) you have put into this unit over the 6 years but I imagine it was little to none otherwise you would have mentioned it so let her be.

You can get numbers from Joe Talarico who is real estate attorney in Chicago but he also is a partner in Barrister Title which is a smaller title company where you can usually get some better pricing.  

708-935-5205

[email protected]

We use Andrew Martea 312-399-3785 or 312-546-9951

[email protected]

His office is right next to Daly Center so his costs are lower due to less travel.  He can also run over there for anything anytime if motions need to be filed.

We always are very cautious in Chicago on this and even if the seller doesn't give us the deposits at closing we will honor it and pay interest based in the date we closed.  

Wesley, I did just send you a PM.  Without knowing address I would talk you out of buying retail in Cook County and getting a smaller return with a lot of risk in a class c property.

 Thanks Brie

@Brie Schmidt