All Forum Posts by: Ronan M.

@Kimberly H.

@Joey Nakayama

@Brie Schmidt

@David Stefanovic

Thank you all for your input. As well as repairing a few screens I need to install some where there is none. I will give Handyman Matters a call and if not I guess its off to Ace Hardware.

Appreciate the help.

I don't think this is a violation issue and while the link from @Frank S. is helpful it should not end there as it will not show up everything including liens etc.

While I am no expert I too believe this should be caught by the title company...most definitely if the property was financed. If it was a cash sale you loose the due diligence the bank will do ( or have the title company do) before closing.

I had a similar example just this week where it happened to me on a cash out refi of a multifamily that I own free & clear. Title company caught an old lien and both they and the bank told me to resolve it before moving forward. I contacted the city and got paperwork from them showing no balance was due on the docket number provided by the Title Co. No deal. They wanted a full "release" of the Lien. I had to get the city attorneys involved to get a certified, notarized, recorded copy of the Release. Was a bit of a pain in the butt as it was a zero dollar judgement but it needed to be done for the Title Co.

Now in hindsight maybe I should appreciate this a bit more as clearly from this thread this is valuable work the title company does in protecting the buyer and financer.    

@Stephanie Phillips I hope you can get this resolved.

The Ductless Mini Split is a viable alternative.

I have said it before on other forum posts but will mention it again that these systems are not new. They are and have been used all over the world for a long time. Its only the US that never seemed to utilize them. And remember the US has some of the lowest energy cost on the planet so they folks in Europe and Asia who pay much more for their heating/cooling energy use them because of their energy efficiency. Plus the mini splits heat and cool. The only downside I have heard is they cool better than they heat. They will heat fine but with temps dropping down below 20 they can struggle to keep up.

As for the drilling holes etc you only have to drill for an electric and coolant line thru the brick (and that will be hidden behind the wall unit) So the holes need only be the size of a typical garden hose. There is no traditional "duct" work going thru the wall. So the image of big gouges in your wall for ducts or drier duct size holes you don't have to worry about. 

Plus I believe with one outside condenser unit you can hook up multiple wall units in the inside.

Hope that helps. Am not a Mini Split Sales Man. I just like the systems and think they are a real alternative.

Not true on the ducts. Mini Splits don't have ducts. Just a hole in the wall about the size of a garden hose to run from the outside unit to the inside wall unit.

Anyone have any recommendations for someone who does repairs/replacement on window screens on Chicago's Northside ?

I used to have a great guy who would drive around in a pick up and fix these on site for a good price. But I can't find his number. I called a few numbers from Google to companies who say they fix screens and they are mostly window guys who have no interest unless it involves the installation of windows.

I need about 6 to 10 screens installed or replaced. Small job I know but I cant find a small guy to do it and its a BIG gripe for my tenants.

Recommendations much appreciated.

PS - I hate fixing and installing screens myself and I always screw it up.

I have used Renovo Financial and it worked out well for me. Best of luck.

@Frank S.

I have 1 Beds on the Southside renting for $675. Same apt Northside I would get $875.

I have 2 Beds on the Southside renting for $750. Same apt Northside would be $1000+

That's what I meant by "lower rents per unit"

Thx

@Frank S.

I agree with the points mentioned by @Mike B.

The rewards can come but with high risk. Highly competent boots on the ground are needed to succeed in this space. The actual Sec 8 tenants may not be an issue at all. Its the total environment that is the challenge.

Plus in analyzing some properties in this asset class 3 factors alone can make or break success of a property. High Insurance, High Utilities ( if heating an old building) and Prop Taxes coupled with lower per unit rents can put you on shaky ground. If the buildings do not cash flow very well then you need to consider if is it worth the risk.  There is money to be made but analyze every deal/property down to the dollar to ensure you have a significant reward for the potential risks involved.

If you (or your wife) are not totally at home working in those area's then you need to find someone reliable and trusty worthy that can work that field.

Welcome to BP.

Sent you a PM. Thx