All Forum Posts by: Jesus Santoyo
Jesus Santoyo has started 7 posts and replied 48 times.
Post: ComEd Electric Meter Installation
- Posts 49
- Votes 29
Quote from @Nate Grabner:
I did something similar this past year - Had a 2+basement on 2 panels and split the basement and public space off onto a 3rd panel. I upgraded the existing boxes, split out the wiring for the third, installed a new grounding rod (wasnt one before), and moved the boxes from inside a garden apartment to the opposite side of a wall so that they were in a utility room. All in it was $6800. I was doing more than it sounds like you'd be looking to do, so this is probably a high estimate. PM me and I can give you the number of who i used - id called around alot and they had the best pricing by a solid amount for what i was looking to do.
@Nate Grabner having similar issues - do you mind sharing how is it going of that electrician still available would love to see if you can share contact information.
Post: Chicago rental, property insurance.
- Posts 49
- Votes 29
@Owen Rosen I will DM you- Thank you!
Post: Why Class D/Section 8 returns are not as good in Real Life vs on Paper - Real example
- Posts 49
- Votes 29
Yes and Yes @Alan Asriants ; however, I ask one question to the community? well, two? I suppose: Why did you get into this business? Second, what impact are you making in your community? I agree sections C and D don't provide the best ROI on the Excel spreadsheet - However, Is that couple hundred dollars more going to impact you? I been an investor for only a few years and I have a few rentals here in the North Lawndale area in Chicago some will characterize this areas as D class- Do I make good money out of my rentals, Yes! Are there issues with turnover, crime, quality of life? Absolutely! ... To be honest - I am a prolific house hacker who has a great W2 job making over 6 figures and has a property in an A-class neighborhood that I am renting. Yet, to be fully honest, I love living here! Why- You may ask? I see the changes happening in the area day to day-- Its beautiful to see the impact youself while you go for a run on a saturday morning. The fact that you(who has been blessed with more than others) can make an impact to your neighbors house, to a tenant by being caring and understanding that I will not trade for anything! I understand there is a bit more hard work, but it is nice to see the community grow- If you are looking just in the business sense well, appreciation has gone 200% plus, and my annual rent continues to increase 6-10%.
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Post: Understanding the Market: How to Set Rental Rates - CHA Webinar Series
- Posts 49
- Votes 29
@Mark Ainley Watch this Webinar - Thank you for putting this together very helpful.
Quote from @Jonathan Klemm:
Love it @Jesus Santoyo! When you say you are VERY SUPRISED at some of the finish product that is coming out in the West of Chicago in Lawndale - is that a good or bad surprised?
Very good- Something that you will see in B+/A- areas
@Eudith- great tip.
I have been interviewing/learning the process for the past two weeks. A decision to be made soon :)
@Jonathan Klemm I would love that!
To answer your question about the processes- Yes, but no, if that makes sense. The processes remain the same when recruiting and retaining good tenants- there is definitely a better pool of applicants in the OP area however, I been very fortunate to not have had any mayor issues, yet in either market. As far as the construction, yes, but I have been very surprised at some of the finish product that is coming out, specifically from the North Lawndale area - as a SW residernt all my life is very exciting to see this area slowly clean itself up. It is still going to take some time but the tenant pool will only continue to get strong in this market on the other hand as you may know OP is a stable market and at times a more passive market when it comes to PM. love to connect with both of you and just have some really good chat on the past, present and future of Chicago RE.
Quote from @Jonathan Klemm:
Ada boy @Jesus Santoyo! That test is not the easiest to pass!
When you say you are a property manager...how many properties are you already managing? Are they all your own?
Are you looking to make being a chicago real estate agent your full time job or just a side gig while continuing to work full time? Some of the larger brokerages (like coldbanker or Keller Williams or @ properties) would be better if you are going to get super focused on being a broker.
@Timothy Harstead thank you for the opportunity - you will hear from me very soon!
@Jonathan Klemm@John Warren I am looking for a place to provide the training and opportunity to fail. At the moment I am still at my W2 job but hoping in time to move full time in RE that being as Broker, FT PM, and project manager for investor who are looking for support managing rehabs.
I am currently self managing 8 units in the Chicago SW side predominantly in the Lawndale and Oak Park area a mix of FM and section 8 tenants. I am also doing a live in full renovation for a long term rental where I am project managing mechanical items and doing a lot of the interior renovations myself.
Post: Next gentrifying neighborhoods in and around Chicago MultiUnit
- Posts 49
- Votes 29
Quote from @Tan Su:
2 years later in Nov 2024, i am checking in to see everyone's opinion to the question on the original post. - What do you think will be the
Next gentrifying neighborhoods in and around Chicago?Glad you reposted this questions as many people have said in the past- Follow the train stations- Green and Pink lines are still good for developement.
Hi All,
I am an investor, and Property Manager on the SW side in Chicago- I recently passed my RE Exam and looking for a sponsoring broker that I can team up with and learn the ropes. I do have an FT job as a General Manager but my work schedule is fixed and stable -- Any managing broker team recommendations will be helpful and appreciated. Excited to start this chapter in my life.
PS make the unit you in amazing for when you leave you can get top $