All Forum Posts by: Sam C.

David, 

Your question has 1,000 answers. All of which are correct. What I am saying is that before you look into what amenities your renters will look for, you need to know who the tenant is. A young working professional will most likely want to be near transportation and nightlife. This tenant would gladly look past stainless steel appliances if it meant being within 3 minutes of a train station. Similarly, a recently married couple would probably rather have a nice kitchen and bathroom for when they entertain their guests than living close to public transportation and nightlife.

When i am renting out my units, special attention is placed to the kitchens and baths. A simple quick tip for your doors is using oil-rubbed bronze hardware and knobs. This looks especially great on white doors. It's little things like this that will make your unit "POP" and help rent the apartment as well.

Good luck!

Hello, ladies and gents!

So as we all know, financing rehab deals is quite the challenge. However, it can be done. I have personally been in touch with a couple of guys that offer hard money loans for acquisition and rehab, but still, options appear to be very limited as to terms and/or LTV limits.

Does anyone have any suggestions on who best to contact for hard money / rehab money in the Chicagoland area? I am looking to get a couple deals done and dont wish to place all my eggs in one basket -or lender!

Any assistance is greatly appreciated!

Thanks!

Sam Chavez

Hello, ladies and gents!

Ok, where do I start? My name is Sam Chavez. I am a 4th year property manager and die-hard proud Chicagoan (before you ask, I prefer deep dish pizza) I love the Chicago Bears (they suck, i know) and prefer the White Sox -hey, Cubbies, we at least won a world series THIS century. I am a HUUUUGE poker nut and am actually fairly good at it. Actually won several tournaments and am using my winnings to purchase my first deal. I also love the hustle and bustle that is windy-city living. From the fine arts museums and magnificence of the mag mile all the way to the blue collar neighborhoods of Bridgeport and Pilsen. It is an honor to be immersed in this city's real estate market through property management,

I decided to join BP after being tired of managing assets for everyone else except myself. I work for one of the larger management companies in the city (over 6,000 units) and I  currently manage 26 properties, over 460 units. Yes, i am the guy that makes sure rent is paid every month and oversee all operations at the buildings for my boss' clients. I also take the 2:00AM calls for a leaky faucet or noisy neighbors. I also coordinate maintenance repairs, lease renewals, building code violations, delinquencies, fill vacancies, etc. 

This upcoming year I am hoping to purchase 3 investment properties, preferably 2-4 flats (some of you refer to these as duplex, triplex, quadplex) and start creating my own passive income portfolio.

I would love to meet and chat with my local BP members (and non-local as well) and discover new ways of working the old beast that is real estate. I am obsessed with the house flipping process and how so much value can be added to the most distressed properties when done correctly. I am also passionate about creating value in these assets when managed properly. 

Remember my name, folks. You'll be hearing A LOT from me in the upcoming year.

Let's rock!!

Sam Chavez

Property Manager

Newbie Investor

Great tip, Wendell!! Very clever idea and as a newbie here I'm glad to see people like you in this community.

Very interested in this deal. What's the best way to discuss or get a hold of you? I do have a couple questions. Thank you!

Hi!

Are any of these deals still available??

Hi, Daniel.

Very interested in this deal. How can i get in touch with you for some more information? I'm new to Bigger Pockets and don't want to break protocol.

Please advise.

While i definitely would have to understand what the entire management agreement entails, I cannot see myself as a property manager keeping late fees for late rent payments. These should be paid to the property, not the management company. As property managers we are entrusted by our owners to maximize revenue and income while reducing operating costs wherever and whenever possible. The lease agreement and terms (which would include language regarding late fees) are between the property and leaseholders, NOT THE MANAGEMENT TEAM. The management team is acting as an agent between the two. As such, by keeping the late fees we are not maximizing the income potential for our owners or properties. In fact, one could almost argue that the management company would prefer late payments as this would benefit management. This is counterintuitive to solid management. This holds true even if the management fee is calculated by a percentage of gross rents collected or a solid monthly fee. While not necessarily illegal, I would almost consider it unethical. Just my 2 cents, anyway. Good luck!