All Forum Posts by: Rj D.

@Henry Lazerow I would disagree. You essentially created a list of already gentrified and mature markets. The chances of finding deals in those areas are SLIM and nearly impossible without having to do a HEAVY rehab.

Thanks @Jonathan Klemm, we'll see you at the next one! @Eric Pitt,

@Sebastien Beauboeuf the removal of kitchens/baths is dependant on how the work was completed in the first place. If it was an illegal conversion or work done without obtaining the correct permits they WILL most likely need to be removed. Here is a link to the city regarding Illegal conversions as well as "deconversion" permits. 

https://www.chicago.gov/city/en/depts/bldgs/supp_info/illegal-conversions0.html

Not much info but if you dig... the city will provide all the legal information you need and its FREE. 

We can talk a bit about the implications of an "illegal" unit on Monday. 

and hey @Brie Schmidt :-)

I'd be happy to run comps for you for 1/1's.

Inbox me if you have questions.

@Federico Gutierrez great point.

I sold my condo in Printers Row due to the HOA restrictions. You can find great properties just south of the loop, i.e. Printers Row, South portions of the Loop, and South Loop for low $2-300's.

HOA is going to be your largest obstacle.

If you haven't found it just google "Chicago Building permits and inspection records"

or.... https://webapps1.cityofchicago.org/buildingrecords/

Self explanitoray from there.

Best contractors are found by networking. The top guys are being kept busy by their top clients. Yes Home Depot may land you a good contact but odds are they won’t take you seriously if your not recommended or they’ll forget because their too busy getting materials for their “serious” clients.

Contractors deal with the same thing investors do. A lot of talk, no action. It doesn’t make sense for them to come out and give you 10 estimates if your not going to work with them.

Always visit a current work site, make sure they communicate, respond quickly, and you get along with them. A lot of contractors are crude, imagine dealing with them when you have problems in a project.

Visit a current worksite, talk to past clients, don’t just look at pictures of their work, and if you have construction knowledge ask them what they’d to in a hypothetical, make them talk out their process for your project, question their process. Everything else is your emotional IQ and gut feeling.

Last advice, if you find a good one make sure you take care of them. You’ll go through a dozen before you find reliable workers you like, do good work, and you can trust.

@Account Closed, and Geetika Casmon. We meet every 3'rd Monday of the month at 7pm. The location is Sully's House - 1501 N Dayton St.

I recommend checking us out on FB and Meetup.com. We host value add speakers and have a networking session as well. Its always free information. Hope to see you at our next meet up October 15!

Great to hear! Thanks for sharing