All Forum Posts by: Joey Nakayama

@Account Closed So sorry to hear about your situation. When you contact lenders about mortgage deferment options, make sure to get clarity on the terms they can offer. In some scenarios any missed payments will be due all at once, while in others they may be spread out over time or, better yet, added the back end of your mortgage to extend the term. 

I found this article helpful.

I've used these for my units. Wireless and battery-free. Haven't had to do any maintenance since I installed them a few years ago. 

As the old roofing adage goes, all good things must come to an expensive end... 

The time has come to tear off and replace the flat roof on my brick 3 flat. Anyone have a roofing contractor you would recommend? 

Thanks for the responses everyone--very helpful to hear about your approaches. 

@Brie Schmidt, you are a machine :) Do you build those move-out charges into your lease or through another agreement your tenants sign?

An overwhelming majority of Chicago leases start on the 1st of the month and expire at the end of the month, which can cause chaos when tenants move in and out. 

How do you manage this? Do you count on vacancy between tenants? Do you hustle to turn a unit around in less than 24 hours?

@Syed Lateef Agreed—I absolutely take my tenant screening seriously and don't plan on changing that, even if that means a slightly longer vacancy time. As for Airbnb, my assumption has been that my location would not be a high-demand neighborhood for Airbnb. Do you have any tips for assessing Airbnb potential?

@Lumi Ispas and @Sean Walton, thanks for weighing in! 

@Jeff Burdick That's the ideal plan. If that doesn't fly, I'll also offering a shorter term lease that I'd renew in spring or summer with a 12 month term. 

Good to know someone else in the neighborhood!

Thanks @Johnny Hastings! I've done all of my marketing online and have never used signs, but this wouldn't be a bad time to start...

@Brie Schmidt thanks for the suggestions! On Realtor.com clicking "list your rental" redirects to Doorsteps.com. Is this what you're suggesting, or working with a rental agent to list and market for me?

Hi BP community, any tips for filling vacancies in a market that slows down in winter? I recently wrapped up a renovation on one unit and have another with tenants leaving at the end of December. I have ads up for both (through Zillow Rental Manager and Craigslist) and haven't been getting much response. See ads here and here.

Some ideas I’ve been considering:

• Lower rent (I’ve already done this on one unit)
• Offer half off first month’s rent or some other temporary discount
• Find other channels for advertising

Suggestions and critiques on my ads are welcome!

First Midwest Bank will do up to 90% LTV.