Chicago Property Management Blog

Most real estate investors, especially when just starting out, use personal credit to obtain conventional loans to buy rental homes. And this may work fine for you today, but how serious do you intend to get about your investing tomorrow? But if you plan to increase your portfolio or add larger buildings, you graduate out of conventional loans. Portfolios with more than 10 rentals or buildings with five or more units require a separate ...

The best three things about investing in self-storage facilities over rental homes: no tenants, no toilets, and no trash! Plus you can expect to double your money in 3-5 years. You only need about 35% occupancy to break even; even with debt, less than 70% will balance out the books. Breaking self-storage facility investment can be a little trickier than other investment properties. But if you know what to do, it’s very worth the e...

Knowing a couple of Chicago’s neighborhoods intimately is definitely better than knowing a hundred superficially. That’s exactly what the Property People did in Chicago’s northwest neighborhood. Owners use their knowledge to know how deep they can dig a basement out and how much value they’ll add to their property in doing so. They know what certain features are expected and what they can pass on. Greg and Jennie...

What is the Just Cause Eviction Proposed Ordinance? Where did it come from and then what do we have to look out for?   If you currently have a tenant living in your rental unit, would like them to vacate at the end of the current lease term, you could be giving up a lot of your Landlord rights, especially if the Just Cause Eviction Ordinance passes.  Find out what this ordinance is and where it came from by watching the video ...

Considering real estate wholesaling? We forgive you for thinking of it as an easy way to quit your 9-5. But as many new wholesalers soon find out, real estate wholesaling can still occupy your time like a regular job. The industry comes with nuances far different than buying single or multi-family rentals. So to help you get started, below we recommend three things you must do to win at real estate wholesaling.What’s A Real Estate...

With its downtown riverwalk, larger home lots, and true suburban living, Naperville is a diverse market drenched with opportunity. Josh Mitchell has carved out his niche as the go to guy in the area, acting as both an investor and a broker for Re/Max in Naperville. Josh answered some FAQs for people thinking about pursuing a similar career trajectory and explained the nuances involved within the Naperville sub markets on Episode 80 of t...

The CRTLO has been an extraordinary challenge for many Chicago investors for almost three decades.  The extreme demands have even bankrupted quality housing providers.  It’s time to take a stand and demand that Landlords be treated fairly in the city of Chicago. That's why we need you to take action.Alderman Brian Hopkins of the 2nd Ward has bravely sponsored “Ordnance 1911” that requests fair treatment o...

Do you happen to own stocks that you are thinking about selling? Do you also own a commercial property? If so, now is the time to consider cost segregation. Using cost segregation on your commercial property will lower your taxable income. This will make your capital gain less when you sell stock and potentially lower your capital gain tax rate. Key PointsCapital gain is any profit you have from selling an assetCapital gain tax ra...

So how do you build that successful team? Gary Davidson, is not only a rock star attorney, but he is the definition of a go-giver. In today’s episode you will learn how asking the question “how can I add value to person X?” can solidify your network and propel you on your journey. Key points:Providing value as a new investorTop mistakes of Chicago investorsWhat to ask when hiring a real estate attorney As a proper...

Roman Viere manages and operates over 900 apartment units, and the majority of these units are located in the Austin neighborhood. Austin is geographically Chicago’s largest neighborhood and offers everything from a 9-hole golf course to struggling store fronts. It takes a hands-on approach to analyze, screen, and operate in a neighborhood like Austin, and Roman provides tactical insights and street-level knowledge useful to anyon...