All Forum Posts by: Paul Staszel

Two tenants have reported stolen packages from the common area open to the public.  I have also noticed open Amazon boxes on the ground in the common area.

What should I do?

Should I even do anything? 

In my 6 unit building I pay for everything except for electricity.  Too much work to split the water and gas bill.

However, I do believe pawning the utility bills to the tenant in a single family home is the way to go.  

Does anyone use Menards? 

In the Chicago-land area they are very popular and they do have competitive prices.  Also they offer 11% off from time to time and a PVC pipe is a PVC pipe no matter where you bet it from. 

Make the tenants pay for the improvement and hire a professional to do the work.  If they don't want to pay for it then tell them you will raise the rent X amount and that they must agree to the amount prior to starting the improvement.  

I see Mack selling one of its houses it just bought two three months ago.  I wonder if its because of the banktrupcy (chapter 11) or because the home ran into major rehab issues i.e. inspections, foundation issues...

Yesterday I knocked and went inside to find the stove top on.  Good thing I went in there, I could have ended up with ashes and liability issues (its a 6 unit).  

5th week and Sheriff has still not gotten to my eviction case number.  Anyone know how to speed them up?

Also, property was vacated a couple of days ago.  The tenant and squatter gave me the keys back by dropping them off in my drop box.  Could I go inside and start demo, or should I wait?

Install cameras and give any evidence to the police. Other than that I wouldn't worry too much about it as long as it does not affect you, your business, your rental, or tenants. Remember, your here to make money, not to be neighborhood watch. Note: I wouldn't disclose that information to your tenants that drugs are being sold next door.

@Dana Whicker

I agree, if you show your property and it is still in the rehabilitation stage it may scare them away for good.  

What the prospect tenant does not see will not hurt.  So if they see drywall ripped up in the bathroom because you are doing a full gut rehab that will only scare them away.   Not all people have visions on how much potential a rental has after the rehabilitation stage.  

My parents are looking to 1031 a 3 unit property for a 6 unit property and add my brother to the 6 unit property.  Is it smart to put my brother on the deed of the new property?  Will this effect the tax advantage?  Would a trust be a better option? 

Also looking for a Qualified Intermediary that has experience in the Chicago land area to facilitate the exchange.  

I do not have any experience in 1031 so I am looking for guidance.