All Forum Posts by: Mario Morales
Mario Morales has started 85 posts and replied 227 times.
Post: Central Air Condenser on the roof or in a cage?
- Posts 232
- Votes 101
Good question!!! I have a few, one mounted on a roof, one on a wall, as the cage was just too expensive for me, looking to see what others think
Post: Cook County Evictions-Why so long?
- Posts 232
- Votes 101
I can't figure this out or know enough of the real estate ecosystem in cook county but why hasn't the long eviction process been shortened, especially when it really hits the pockets of landlords? I heard somewhere that it is to prevent homelessness if that is the case then why aren' landlords assisted in someway? Do the politics make it that hard to change?
Post: Central heat or classic wall unit
- Posts 232
- Votes 101
Quote from @Kathy Johnson:
Quote from @Mario Morales:
Quote from @Kathy Johnson:
Is the existing wall unit electric or gas? If gas and vented, one advantage that a wall unit has is that they are available in an electric free version which means the tenant will still have heat in power outages. We have experience with the Williams brand and our tenant was very happy to have heat during recent power outages.
Hi would you mind sharing the model and/or link?
My husband says the natural gas Williams wall unit is Williams model 3509822, 35k BTU natural gas.
Thank you!
Post: Central heat or classic wall unit
- Posts 232
- Votes 101
Quote from @Kathy Johnson:
Is the existing wall unit electric or gas? If gas and vented, one advantage that a wall unit has is that they are available in an electric free version which means the tenant will still have heat in power outages. We have experience with the Williams brand and our tenant was very happy to have heat during recent power outages.
Hi would you mind sharing the model and/or link?
Post: Chicago Multi Units - northside (first time buyer FHA)
- Posts 232
- Votes 101
Just to share, my buddy had an experience with old electrical wiring, it needed to be replaced and it cost a lot of money. It involved tearing down walls, new conduit etc,. That can be an unexpected cost.
Post: Cash Flow & Capex
- Posts 232
- Votes 101
When you look at a potential property, you crunch your numbers and your monthly capex (5% or so) is going to run you at $250 a month (roof, water heater, hvac etc,). Taking this into account with your operating expenses and debt service, what are you looking to cash flow per door in a multi-unit?
Post: Is raising rent with a long term tenant a good idea?
- Posts 232
- Votes 101
Raise the rent. It seems like if they wanted to move and stay in that same area, they are well aware what it's going to cost them. Raise the rent by $100 and tell them that gradually you will be increasing 3% or so a year.
Post: Housing is a Rip Off: The National Disaster and 11 Steps to Fix It
- Posts 232
- Votes 101
Quote from @Quincy Lockett:
Quote from @Mario Morales:
Quote from @Quincy Lockett:
@Mario Morales
You missed the point. Of course there is statistically more likely to be crime in a D Class neighborhood. The topic was affordable housing. Congratulations if you have the resources to purchase outside of those areas. This is about people on the margins and investors who don’t have the capital to purchase above D Class. D Class is where I started because that’s where my resources maxed me out In the beginning. My point is not EVERYONE can start at C or above. The affordable housing crisis implies that EVERYONE should live in C Class or above. I disagree and have proven it through my observable reality as both a former resident and investor in lower class areas
Your glossing over the point, I live in North Lawndale. Your saying the media overhyped certain neighborhoods in regard to crime, dense poverty correlates with high crime, especially in Chicago. While your tone suggests that its 3 out of 10 neighborhoods are crime ridden its more like 7 out of 10. The point of the article is to seek private investment, whether it's in partnership with local goverment or not, if it's not safe then their money won't be safe. I can't walk to a walgreens, a 7-11 or kinkos. Investors don't want to invest.
Bless your heart.
You know what "bless your heart" means, right?
Post: Housing is a Rip Off: The National Disaster and 11 Steps to Fix It
- Posts 232
- Votes 101
Quote from @Quincy Lockett:
@Mario Morales
You missed the point. Of course there is statistically more likely to be crime in a D Class neighborhood. The topic was affordable housing. Congratulations if you have the resources to purchase outside of those areas. This is about people on the margins and investors who don’t have the capital to purchase above D Class. D Class is where I started because that’s where my resources maxed me out In the beginning. My point is not EVERYONE can start at C or above. The affordable housing crisis implies that EVERYONE should live in C Class or above. I disagree and have proven it through my observable reality as both a former resident and investor in lower class areas
Your glossing over the point, I live in North Lawndale. Your saying the media overhyped certain neighborhoods in regard to crime, dense poverty correlates with high crime, especially in Chicago. While your tone suggests that its 3 out of 10 neighborhoods are crime ridden its more like 7 out of 10. The point of the article is to seek private investment, whether it's in partnership with local goverment or not, if it's not safe then their money won't be safe. I can't walk to a walgreens, a 7-11 or kinkos. Investors don't want to invest.
Post: Housing is a Rip Off: The National Disaster and 11 Steps to Fix It
- Posts 232
- Votes 101
@Quincy Lockett I also grew up in D class neighborhoods, I also have a few doors and we do have crime. it's just statistically speaking if you have 40 neighborhoods in a D class community then the chances are very high that it won't be safe. That's how investors see it.