All Forum Posts by: John Weidner

If the taxes go up the rents rise...all relative

@Phillip Dunbar

Welcome...  Lots of experienced investors in Chicago on this site

$10K seems light in my opinion to Tear Down. 

The #'s @Mike B. mentioned were in line from what I've heard.   

I saw this company recently tear down an average size house on the NW side:  Dunleavy Construction.   May be worth a call.

I've heard costs all over on tear down costs so curious what you find out. 

where at in Chicago?  

For the city, your water and Insurance are too low.  I would double that. 

Also I would bank on the 4/1 on the low end of the rents unless it's condo quality unit.

Other rents look inline.

Parking at $50 a space is right.  You will get that all day.  Other option is to park commercial vehicles on the lot you can get $100 per space if it's a big enough space to hold a van with ladders etc.  Less hassel to deal with parking 2 commercial vehicles than 4 cars.  

@Dale Stevens

Can you break this down more...how's he going to get a lender to loan him on a business name without some assets or income tied to the business?  It's 1 property...not a package portfolio deal

I'm ok with deal as I know Madison and its a solid town with a great University.   

I would go for it especially since it's owner occupied.  

You can't always hit a home run but you need your first deal to get in the game. 

Best of luck!!

You can do it through Realist.  Call MRED help desk and they will walk you through it.  I've done it and found it sorted quite well if you hit the right parameters.  

What's the average price per foot for a 6' Standard Cedar 1 face with 2 gates? Lowest I'm seeing is $28 per foot including removal of old.  

I figure materials are probably $12-13 per foot including concrete so labor appears just 1x material. 

Any #'s people are seeing Id appreciate