All Forum Posts by: Jim Gramata

Thanks. That looks pretty slick. Only app based though. I guess that isn't too touch except the lease I would imagine might be hard vs computer. Thanks for sharing!

For those using cozy.co,  how long does it take for the rent to hit your account? I ask because of this express fee they charge to allow it to 'only' take 3 days

Express Payouts

Get paid faster. For $2.99 per month per unit, payouts for payments made with checking accounts occur in 3 business days, about half the time of normal checking account payments.

Any have any better options out there? 

With the exception of this delay in collecting this services looks pretty good. 

Send me details...How much? Owner Expenses? Taxes? Address? Send info to gramatagroup@gmail com

Here is an off market property that came across my desk this morning I wanted to post to BP. My initial numbers puts this around a 7 CAP if the rental projections are supported. 3800 West so western edge of LS. Description: Off market multi-unit investment property listed at 425K with incredible return and cash flow potential! Gut rehabbed in 2014: New electrical, plumbing, roof, hardwood floors, marble, windows, siding, new landscaping, new sewer line, and enclosed porch. New mechanical system, and electrical panel 1st unit is a 1800 sq ft. 3 bed/ 2 duplex down. Rental price $1,850-vacant 2nd unit is large duplex up 2 bed/1 bath plus den or option for 3rd bedroom–Rented at $1,495 All units have central air, washer/dryer, and stainless steel appliances Tenant pays all utilities. Building electric: $422.24 ($35.19/ month) Building heat: $827.51 (68.96/month) Water: $1,200 year Repairs: Est $500-$1000 per year per unit depending on building age/condition Insurance: Est. $200/month Lawn and snow care: Est. $500 per year per city lot Not going to be listed on the MLS until March 2017 Taxes: 2015- $5,157.25 Lot size: 125 x 25 I'm not representing the sellers as broker on this one. No coop commission

Welcome to BP and Chicago REI. I work in and around the WP/UV/BT area all the time as a broker and GC. Once you set your targets for 2017 lined up let me know and I'll put you on my radar for off market properties. I get notices on everyday. Happy 2017

I agree with Jeff Dilla. Get yourself a competent active broker who can get you this info and knows his/her stuff. No way you're getting a 4 cap in Avondale nor Logan. We are not even seeing that in Lincoln Park or Lakeview. Last month I ran a report for Lakeview and it came in at 6.02 CAP average for 2 flats in the past 6 months. I'd put Avondale in the 7-8 range and I'm not familiar with Bridgeport but I'd guess it's similar.

Agreed that in a multi unit the common areas must be habitable and in almost complete working order. It makes sense you'd not want a dangerous condition in the path from the entrance to the unit door.

It depends what exactly you're researching but websites have their limits. I'd begin by building your investment team of professionals who you will work with to meet your investment goals. Ask each of them their opinion and it will save you so much time and energy in going down blind alleys. Your sphere of influence is one big key to your success! Good luck

My understanding in Chicago is new construction absolutely requires an actual CO but rehabs are unofficially not required.

I just did an Illinois DBA and the route I took required it be connected to my corporation. Chase Bank allowed me to set up two additional accounts linked to my primary corporate account (rental income and security deposits).