All Forum Posts by: Shamar Gregg

@Tony Angelos, That would be awesome. Definitely would love to hear about your experience thus far. I sent you a colleague's request. 

@Jason Taken Definitely, we are always looking for attorneys that stay on top of everything! 

@Jason Krasavage My building is from 1909 but yeah, the cost to switch to central/forced is definitely not cheap. All four units sit above the ground (2 on the first, 2 on the second/third). Before anyone moved in, I had a plumber connect the tenants' individual gas and hot water near their own electricity (cost a total of $3500 (3000 plumber/ 500 electric). So everyone is responsible for bringing their own washer/dryer. I've had years where tenants didn't bring a washer/dryer and I just end up saving on water too! 

As you said, most of these Chicago buildings are old and the units don't have space or accommodation for in-unit laundry. I also know coin laundry utilities can add up (especially gas prices in Chicago!). However, my tenants love the idea of having exclusive use of their own washer/dyers. 

@Jason Krasavage

Taxes you obviously can't change, so for my 4-unit in Chicago, these are the things I did to offset my expenses. 

Firstly, not sure how it would be to convert to central/air/heat in your building, but this saved me a ton because tenants pay for their own gas (individual furnaces). Compared to a broiler that adds up during winter. 

The second thing I did was add washer and dryer hookups in the basement instead of coin laundry. This way it's connected to their electricity and gas. Because of this, they're less likely to abuse resources. Best of all, they're responsible for their own washer/dryer maintenance as well. 

Also, I covered one unit to Airbnb for extra income. Way more than I used to get in rent. 

Hope some of this helps! 

@Jonathan Klemm I currently work with a partner who had leads from her old firm. I see your contractor and we are looking for those all the time! Hopefully we can connect and see if there is a fit! 

Hi All! 

I recently made the transition from the corporate world and wanted to make a new introduction here. I am an investor/agent in the Chicago land area! I currently work with mostly out-of-state investors (identify flips, contracting team renovated, property relisted). Also, work with off markets (mostly buy and hold multis). I am looking to connect with all different types of individuals from different areas of real estate!  Looking forward to connecting with you all! 

@Ryan Copeland Congrationulation on the purchase. More properties and bigger investment here on out!

@Sean McKee I have great tenants. Currently for my 4 unit, I have one Chicago government worker, a retail store on Michigan Ave Manager, and a couple who both work full time. 

My property is in the Austin area. I have good cash flow but I would say definitely depends on what part. For example, my property is directly across from Oak Park, so not deep Austin which helps rents. 

@Mylan Traylor

One area I did not see mentioned is North Austin and some parts of South Austin. I purchased a 4 unit in North Austin for 410K (all within 3 weeks after posting), rented great because it's across from Oak Park (nice area), and the best part, low taxes. You can reach out to me for good areas in Austin and could also tell you my rental amount numbers to see if it work for you too. 

Hello, 

I recently stumbled upon BP and looking to connect with other investors/realtors/partners/colleagues in the Chicago area. Leave a reply if you are in the Chicago area (or even other areas) and interested in connecting. Connections can always be a great asset now or down the line. 

I look forward to meeting you all!