All Forum Posts by: Dumitru Anton

they are ranch style apartments. they have a gate in front of the main entrance, and you're responsible for the door if anything happens to it. for some reason they won't fix it. it actually looks like this but a wooden door in front of the main door

if i take the door down, how concerned should I be about people stealing stuff. if i had a lawn mower or something, they would have to come in the opening and take stuff

i saw a report online about some guy that was looking in someones windows at the complex across the street. i dont know how long ago it was. i was looking online again but coudlnt find it. the one im staying at seems fine, how concerned should I be able the ones across from me?

i have three days to decide, so any help is appreciated. i know its a little late. i went to see them a few days ago, and it seemed fine, then all these things started popping up.

get in a car and drive the neighborhood at various hours. before you sign the lease!

google maps may have recent photos of the area....

0 Votes

Originally posted by @Bradley Calvin:

Hello BP Community!

I was told recently that looking to buy rentals in the Chicago-land area in the fall and winter as it becomes colder is a bad idea because there are less people looking for new places to live during these seasons.

I wanted to see if any Chicago-land investors and agents would share their experience with renting out or selling properties during these times of year.

Thank you!

@Bradley Calvin, since your area (Itasca) is butchered by the 290 construction and thorndale extension, why don't you look into naperville area? addison/lombard? have you tried going into chicago at 5pm(to fix something for a tenant) on any highway? in rain/snow weather?

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Originally posted by @Shawn Davis:

Professionals move in and out of Chicago at all times of the year for work

/End Thread

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Originally posted by @Steve Sendldorfer:

When renting to section 8 who pays for the utilities? That's not the landlords responsibility right ?

this is local/utility companies.

here (Chicago) i pay for water/sewer and garbage (new tax added to water bill)

power and gas is on tenant.

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Originally posted by @Andrew Glenn:

We're evaluating a deal that involves a Section 8 tenant already in place. We've read that the government will guarantee up to 70% of the rent on behalf of the tenant. However, I do know that Section 8 has a bit of a stigma.

With that said, I'm looking for thoughts / experiences with Section 8 Tenants from experienced landlords. What should we keep in mind / look out for / etc?

talk with seasoned local landlords: at least 5 years under the belt. they've seen it all...

you want long term tenants (at least 3 years in previous place).

if in place/existent tenants, you may need to re-educate them to your program/needs (from former landlord standards to yours)

you want tenants which they work and pay for some part of the rent: less time to complain....= appreciate your work more...

if let's say their voucher is for $1,500, please consider this also includes utilities allocation so your actual total pay may be $1,300. bonus points for a lot of insulation in the walls and attic+-crawl space. my local HA has some discounts available with local vendors for energy audit and property insulation/green stuff.

you harden your property by going to nice and abuse-resistent: check your local competition and go one level above. kitchens and bathroom sells the property. also go directly to the heart of the head/ lady of the house!!!

do not go under your standards. it will save you next recession when you will have a nice property to show. YOU ARE IN FOR THE LONG TERM

have reserves: bad neighbors/tenants happen...

be present (your representative) at inspections: words in reports may be different than what the inspector wanted fixed! also you may find out something changed in the area so they are looking for different stuff than let's say 2 years ago (lots of basement floods, critters because of new construction, yada yada)

generally they are looking for safety (more strict if children under 6 present), but they could also be picky. fix it and move on. expense the repair as house improvement.

did local HA did crazy stuff in the past? (search BP for Raleigh HA)

most important: does the numbers make sense? (after you gather the info, not just projected numbers from somebody doing this for years)

what does your market says?

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Originally posted by @Rong Liu:

@ Merlie

What do you mean being active? Could you explain more?

@Rong Liu,

I think she is referring to landlord/landlord PM/representative not going for slumlord status/barely repairing/maintaining the property.

i would look also at local HA interaction with local vendors (power company, green energy,...), classes available to educate landlords.

but mostly talk with local landlords with at least 3 years under the belt

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New venetian gold.

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Originally posted by @Shay Tamari:

Hi everyone,
My name is Shay, new to biggerpockets. I'm very interested in cashflow investments in Chicago. Lately I've looked at the northern neighborhoods. As you can imagine the cash-on-cash is challenging there, so I'd like to broaden my search to south Chicago. Any recommendation on an investor-friendly agent for south Chicago?

Appreciate your feedback.
Thanks,
Shay

@Shay Tamari,

Please do a search on BP for CAI (Chicago Action Investors)

I think they meet every Saturday to check Properties on the Southside

Please contact/PM @Corey Gardner for more details

Continuos Success!

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@Dacia Ray,

-there is a version of Section8 for VA (HUDVASH), where they take the approach to "proactively manage" the recipients of financial help (monthly/weekly visits/checks from social worker to keep them on the right road). i think they usually look for studios/1 bdr apartments... they tout a higher success rate then regular section8

Look for posts from @Bradley Bogdan (very helpful!!!)

-next i would look for the foundations/charities involved locally in re-habilitation of said high-risk group. they will know what they need for success/long term. also the local demand...(a box of donuts in the morning or a weekend of volunteering may open some doors....)

also maybe you can just provide the housing to the charities/foundation and they deal/screen/manage the group. this will also tame any neighboors serial-calling police ....

@Bill G./ Bill Guley has a lot of posts about non-profits

this is usually highly-political/connected so don't step on anybody's toes/territory...

talk with an insurance broker to know your costs/non-no's ! (some insurance groups may not want your business....)

develop the "feel"/6th sense to "smell" the possibly good/no trouble guys

also there may be similar posts here on BP, so please use the "Search BiggerPockets" function

2 Votes

Originally posted by @Jason Hirko:

@Dumitru Anton I have it in all of my C and B rentals. You have to really hit it with a knife or try to burn it to leave a mark - you'd do as much damage to formica if not more than you would to butcher block. Never had a problem with water on it, as it is extremely well sealed. I don't know about super low humidity, but you aren't putting it outside, so it can't get that extreme, right?

@Jason Hirko, dare to be different, Thank you. if you don't mind, can you post a couple pictures also?

0 Votes

All Forum Posts by: Dumitru Anton

Dumitru Anton has started 0 posts and replied 192 times.

Post: how concerned should be about these three things

Post: Chicago-land- renting during different seasons

Post: Chicago-land- renting during different seasons

Post: Section 8

Post: Section 8 Tenants - Pros/Cons/Opinions?

Post: Section 8 Tenants - Pros/Cons/Opinions?

Post: Ooba tooba or New Venetian Gold?

Post: Chicago cashflow investments. Seeking shark agent south Chicago

Post: How to intentionally rent to high risk tenants?

Post: Do you chose Granite or Formica?