All Forum Posts by: Syed Lateef
Syed Lateef has started 22 posts and replied 188 times.
Post: Real life airbnb numbers analysis - north side chicago
- Professional
- Chicago, IL
- Posts 197
- Votes 131
@Henry Lazerow I appreciate this analysis! Thanks for sharing
The repairs and maintenance line item i would assume you would have that if you had long term tenants too. If thats the case i would remove that when calculating how much more you would have made over long term rent
Post: Property Insurance Quote
- Professional
- Chicago, IL
- Posts 197
- Votes 131
My agent is Farmers Insurance - Georgios Kalabogias in Andersonville Chicago. I recommend speaking to him see what he can do
Post: 3 unit building with 1400sqft basement. What to do with it?
- Professional
- Chicago, IL
- Posts 197
- Votes 131
Originally posted by @Travis Rasmussen:
As an Airbnb host, if it would be cramped and uncomfortable, I would actually discourage using it for Airbnb. Guests won't like it. Even if you were to disclose this,, you are going to have negative reviews and it will hurt your rankings. I would lean towards the storage route.
I agree it will be less desirable product on Airbnb but there is still a demand for it. SOME guests wont like it even if you disclose it.
You will get some negative reviews and it will hurt your rankings that is correct.
But the goal is not to get the highest ranking. The goal is to make money.
Post: Orbirental - thoughts?
- Professional
- Chicago, IL
- Posts 197
- Votes 131
Originally posted by @Julia Bykhovskaia:
I was not asking how many properties you manage or about your day job. I wanted feedback on Orbirental - thanks.
This response was really funny
Post: RE attorney recommendations
- Professional
- Chicago, IL
- Posts 197
- Votes 131
I would recommend @Chris Titcomb
Post: Non refundable earnest money with 203k financing - YAY or NAY?
- Professional
- Chicago, IL
- Posts 197
- Votes 131
The place looks like in bad shape. I wonder how many people are lined up at his door giving him any better offers. I wouldn't have that non refundable $5K earnest money in my offer.
To me it looks like more than $180K rehab
I hear you on how difficult it is to get under contract. I have been looking at the MLS everyday for a very long time
Post: New STR investor in Chicago
- Professional
- Chicago, IL
- Posts 197
- Votes 131
I do this type of model in Chicago. I currently have 6 units that I lease and sublease out.
I agree with @Account Closed that they would want to do it them selves. I have about 10 clients that hire me because they do not want to do it them selves.
Post: Midwest Real Estate Networking Summit
- Professional
- Chicago, IL
- Posts 197
- Votes 131
My number 1 take away is hire 2 Virtual assistants from Philippines from @J martin
Enjoyed the story @Meghan McCallum presented
Appreciated Rosario Terracciano story on scaling a business and his ups and downs
Appreciated meeting @Lumi Ispas @Chris Titcomb @Jerry Puckett @Weston Harding @Mark Ainley
my main take away is resilience
Post: Property Management company in Chicago
- Professional
- Chicago, IL
- Posts 197
- Votes 131
@Mark Ainley has a good reputation in Chicago. It does depend on the neighborhood you have your property
Post: Midwest Real Estate Networking Summit
- Professional
- Chicago, IL
- Posts 197
- Votes 131
Far better than i expected. Extremely Organized event.
All the big players on biggerpockets were all in the same room. It was great to meet these people in person
Definitely will attend next year. The networking you get over here is priceless