All Forum Posts by: Josh Dane

Is the marketplace on here pretty effective? It always looks like most of the posts never receive replies.

I recently moved out of state and I am looking to sell two of my properties in the Chicagoland area. I was hoping to see any advice people had for selling the properties without going through a realtor and posting to the MLS? I should also note both properties are low income/section 8.

Thanks in advance.

@Joe Scott Appreciate the help. Thanks for that.

I was hoping to see if anyone had any suggestions for property management companies in Chicago that deals with section 8 units on the west side.

Thank you!

Hey all,
I am looking at buying a home in a D neighborhood with current tenants in place. I usually only consider section 8 properties, but came across one that are not section 8 tenants. Is there any way to tell if these tenants are currently paying the current owner? I don't want to buy a property with tenants who aren't paying and have to evict right after we close.
Thanks in advance

I have read several topics on here where experienced members suggest not investing in lower income housing due to headaches the tenants will cause. I was wondering, if you had a property management company in place to manage the property, are the tenants really that big of a hassle? I am not sure if I am missing something.
Thanks!

Im looking at a two unit, 3 bed 2 bath in each unit for a combined $2,100 a month in gross revenue. Financing aside, how much would you guys realistically expect to profit from this? $85,000 asking. (Not for rehab, already has tenants).
Thanks in advance.

I have learned a ton on this website, including the 50% rule regarding expenses (not including P&I). Look at gross rents (for example, $1,000 a month), and expect $500 in operating expenses. Now my question is, does this rule apply to Section 8 properties? I am trying to analyze these numbers and they look significantly better than "regular" properties. I would think expenses would potentially be higher considering the inspections and clientele.
Can anyone with experience please share your thoughts?
Thanks in advance.

Shari Posey What exactly do you look for when investigating the HOA? Is their a particular level of reserves I should expect or anything else?
Thanks!

John Chapman I understand what you are saying. I am originally from Dallas (assuming that is your market based on your profile), and can understand why condos would not be an ideal investment. For a beginning investor such as myself, I could easily buy a SFR in the Dallas market. However, in Chicago, that would be near impossible, especially in the city. Thanks for the help!