Chicago Property Management Blog

With nearly 30 years of experience as a broker, Frank Montro, the King of Chicagoland, shares his thoughts on how the industry has changed from the early ‘80s through today. While touching on strategies his team uses to generate business, and cementing what it takes to succeed, Frank gives a compelling presentation that is certain to teach you something about winning in Chicago. Do NOT play with your money, work with an expert and...

Be honest and ask yourself..what have been my excuses thus far for living the life I want? Farrah Ali was a single mom who found herself in debt and working full time. However, that did not deter her from financial freedom. Listen to her incredible story and how it has impacted a variety of areas in her life. She details even more of this in her book, “Diaries of A Female Real Estate Investor.”Key points:How to decide which ...

We know lots of our readers are interested in all aspects of Section 8. Since 2020 the Section 8 Housing requirements have not changed, but make sure you stay informed. We have built a Section 8 Housing resources page on our website to help answer any questions our readers might have. https://www.gcrealtyinc.com/section-8-housingSection 8 Bedroom Requirements Each bedroom must have a window that opens to the exterior of the bu...

Let me start by saying: I do truly believe in the use of property management from the investor standpoint. But I know plenty of poorly run property management companies exist that make the really good ones look bad. You could also provide many examples where you don’t need a property manager to be successful. I would agree with many of them. In fact, in this article I list five reasons why you don’t need a property manager.&...

Once again Investors in Chicago are going to have to pivot their business operations or even the entire model with the new rules that went into effect June 1, 2021.  This time the changes are for property owners that are renting out their condos, apartments, and homes to short term guests such as properties on the well known AirBnb and HomeAway platforms.  With this new regulation, the City Of Chicago is requiring the short te...

Numerous landlords harbor inquiries regarding Section 8 and the intricate details of the Housing Choice Voucher Program (HCV). Unfortunately, these intricacies vary slightly across different states, counties, and even cities. While the disparities between Section 8 housing programs are not substantial, it is crucial to align yourself with a Property Manager or fellow investor to ensure you avoid the pitfalls when considering a Section 8...

You hear everywhere how the housing market has a shortage of houses for sale and huge buyer demand. For someone getting into house hacking, the search can prove even more difficult. Just finding a two-, three, or four-flat building to house hack can prove super difficult. When you do find something, affordability becomes a factor because, real talk, Chicagoland has a pretty high cost of living. You may find yourself wondering how should...

If you’ve thought about becoming a property investor, you may have had concerns about startup costs. Maybe you worried over how long it would take to have renters pay the bills for an otherwise empty house. House hacking can give you an easier entry point into property investment and a place to live. While not a new concept, house hacking has quickly become a big topic in Chicagoland, even in the current seller’s market...

As an investment property owner, you want to maximize your return on investment. On the surface, short sales can look like an attractive way to get investment property at basement bargain prices. Getting a house for far less than market price can make solid investments, but of course comes with strings attached. Below, we discuss how to win at investment property short sales in Chicagoland. Short Sales ExplainedProperty owners find...

Last year, I had the opportunity to sit down with Andrew Chen, owner of Hackyourwealth.comAndrew is well known for his wealth building hacks and has been involved in some pretty interesting careers, some in which he had no prior training in at all. His content has been published on Forbes, CNBC, Business Insider, and Glassdoor. https://hackyourwealth.com/managing-rental-properties-property-management-tipsThis podcast in particular ...