Property Management Blog

Thursday, October 17, 2019

Basement
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A basement will look good once the wall is painted in white, and the floor is painted in gray. 

Wednesday, October 16, 2019

COMING SOON in Waukegan, IL
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This 3-bed/1.5 bath rental property with a full basement in Waukegan will be available soon. If you are interested, please go here and fill out your information.

Wednesday, October 2, 2019

Real estate is not just about real estate
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I usually post topics directly related to real estate, but I want to post something completely different here. On November 2nd, 2018, Chicago Tribune published a news about EtO emitting companies in Lake County. One is in Waukegan and another one is in Gurnee. Ever since I heard about the news, I have been fighting to ban the emissio...

Wednesday, September 11, 2019

4 Reasons Why I Do NOT always Get Multiple Bids for Repairs
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When you have something to repair, it’s common to get multiple estimates/quotes/bids. That’s what I did when I had to replace HVAC in my own home in the past. The cost differed drastically from less than $5,000 to more than $10,000. It would sound crazy then to just pick one company who ended up quoting you $10,000 and go with...

Thursday, July 11, 2019

How much does it cost to change a light bulb?
Reading the title, you might be thinking, “You got to be kidding. With all the money I have been paying to you, you are going to charge me just to change a light bulb?” My answer to that is, “Yes, absolutely, and it’s very expensive.” We all know how to change a light bulb. It might be the quickest and e...

Wednesday, June 26, 2019

Verify ALL the information
I mentioned in the past that placing good tenants is one of the most important jobs any property managers can do. Done right, it’ll save the owner a lot of money. But the opposite is true also. Done wrong, it’ll be a disaster.Short of life changes after placing tenants (like losing a job,) you always get perfect tenants, only ...

Thursday, June 20, 2019

Best way to find good tenants
In the previous blog, I wrote about one of the most important jobs any property manager can do, which is to find good tenants. This will prevent you from having a lot of headaches. In it, I wrote about 5 criteria to consider. But there’s one more important thing you need to know to get good tenants in your unit. This is going to sou...

Thursday, May 16, 2019

The most important job property managers do – Tenant placement Part 1
I wrote about “What Property Managers Do” in the past. There are more than 60 things I do, but some are more important than the others. So what is the most important jobs that property managers do? I think it is choosing the right tenants. Once that is taken care of, a lot of things go smooth. This blog will explain to you how...

Wednesday, May 8, 2019

4 Things to Know Before You Hire a Property Management Company
There is this great blog by Landlord Source called “What to Expect from Your Property Management Company.” You can read it here. Hiring a property manager is a little different than managing your own properties.Make sure you know the responsibilities of the manager. This way, there is no surprise at a later time. Also, know th...

Thursday, May 2, 2019

Should I pay off my mortgage? Part 5 (Diversification)
I wrote 4 blogs so far about why you should NOT pay off your mortgage. This blog will talk about yet another reason why you don’t want to pay off your mortgage. It’s about diversifying the risk.If you only have one rental property because you paid off and didn’t have any cash to buy more properties, what will be your vac...

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