All Forum Posts by: Crystal Smith

Drop me a PM & we'll provide you w/ some attorney recommendations.

Welcome to BP

@Jim B. Something to consider regarding the "bedroom" in the basement.  @Dooreuhn Cee reminded me of the 100's  (I exagerate a bit) of Chicago basements I've seen with bedrooms & the only egress was a basement door to the backyard.   Even though the appraiser wouldn't count it as a bedroom or it couldn't be listed as an above grade bedroom, none of that mattered to the end buyer or renter who would still see it as a bedroom & use it as such.

@Sean B. Thx.  We've given them a call for some jobs we have.

@Jim B. Please send us the details.  Our email address is included in our signature line.

You asked a great question.  The previous threads that @Brie Schmidt refers to provides some of the answers.  Part of the answer may lie in the Mayor's Strategic Vision.  Many of the area's in his vision have a long way to go but there are 2 areas where values have steadily been going up, gentrification is on going & attracting tenants w/ decent incomes; far side of the South Loop & Rogers Park.  

@Sebastian K. Getting a Real Estate License doesn't hurt, but it's not necessary. One of our partners is very successful in Real Estate & never had a license. He gained access to the MLS by becoming an assistant to the agents in the markets he worked. The costs to be an assistant varied by state. He was able to pull it off by being loyal to the agent that allowed him to be an assistant. Loyal meaning all deals he found via the MLS were submitted thru that agent. The agents loved it because they did not have to pull comps, run analysis..... just submit the offers.

@Marlene Michael Bad idea to use the tax assessment to determine the current value of the house. The real market, i.e. the appraiser, determines value by reviewing comparable sales over the last 6 months within a certain distance of the subject property.  Tax assessments usually don't reflect what's happening in the real market.

@Frank Ponticelli Welcome to BP.  Do a search on @Brie Schmidt on this site.  She holds a monthly meetup.  The next one is on 17 Feb.  We'll add you to our list of lawyers.