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Dan Loves Houses - Compass We are an investor friendly real estate team in Chicago. We know 2 to 4 units and house hacking.

09/14/2026

Sometimes the biggest opportunities in an investment property are hiding in plain sight.

Start with the garage.

If your tenants don’t have cars and you have an unused garage space, you may be able to rent that space separately instead of letting it sit empty. It can be a simple way to create additional income without adding another unit.

Then look at the bathrooms.

Older properties often have layouts that were perfectly normal decades ago but don’t match what today’s tenants want. Adding a second bathroom can make the property more attractive, increase the rent you can command, and make the property more competitive when you eventually sell.

The key is to look at the property differently.

What space are you not monetizing, and what improvement would make the property more valuable to today’s tenant?

09/14/2026

Furnace or boiler—which one is better for an investment property?

There isn’t one right answer. It depends on the building and what you want from the system.

A furnace can be more flexible if you want to add central air conditioning, and each unit can potentially have its own system and energy usage.

A boiler can be a great option too, especially in older Chicago properties. They can last for decades, and many tenants prefer boiler heat because it’s quieter and more comfortable.

If you’re replacing the existing system, think beyond the upfront cost.

Consider how long it will last, who pays for the energy, whether you want air conditioning, and what future tenants will prefer.

The best heating system isn't necessarily the newest one—it’s the one that fits the property and your investment strategy.

09/13/2026

One of the most valuable upgrades you can make to an older rental property might not be the kitchen.

It could be adding a second bathroom.

A lot of older properties were designed for a very different lifestyle. Today, tenants increasingly want their own bathroom, their own vanity, and a little more privacy—especially when two friends or roommates are sharing a home.

If the layout allows you to add another bathroom, you can potentially make the property more attractive to renters, increase what tenants are willing to pay, and give them another reason to stay longer.

Sometimes the biggest value-add isn't making the property look nicer.

It's making the property work better for the way people live today.

09/12/2026

There’s a town sitting inside Chicago that technically isn’t Chicago.

It’s Norridge.

Around 15,000 people live in this small community in the northwest corner of Chicago, but Norridge operates as its own village.

The story gets even more interesting: Norridge briefly joined Chicago in 1948, but after just 30 days, residents decided they didn’t want to be part of the city.

So they built and maintained their own roads, streets, sewers, and infrastructure—and even developed a shopping center where an old livestock farm once stood.

Today, thousands of people travel between Chicago and Norridge every day, making the two communities closely connected despite being separate municipalities.

A little “island” surrounded by Chicago that has its own story, infrastructure, and identity.

09/11/2026

If you don’t live in Chicago, you might not understand why so many Chicagoans love it.

From the outside, people often focus on the negative things they hear about the city. But living here gives you a very different perspective.

You have world-class architecture, incredible universities, some of the best food in the country, and major corporations headquartered throughout the city.

But one of the most underrated things about Chicago?

The amount of green space.

Parks, tree-lined neighborhoods, lakefront spaces, and green areas are spread throughout the city in ways that you might not appreciate until you actually live here.

There’s a reason people who live in Chicago love Chicago.

Sometimes you have to experience a city for yourself before you really understand it.

09/11/2026

It comes down to one simple idea: multiple tenants can contribute toward the same mortgage.

With a single-family rental, if your tenant stops paying or the property sits vacant, you’re suddenly responsible for 100% of the mortgage.

But with a duplex, one tenant can help cover part of it.

With a 3-unit, two tenants are contributing.

With a 4-unit, you have even more rental income coming from the same property.

That doesn't eliminate risk—vacancies and unexpected expenses can still happen. But having multiple units can spread your rental-income risk across several tenants instead of relying on just one.

For a first investment, more units can mean more ways for the property to support itself.

09/10/2026

Watch Full episode on

Watch the full episode on YouTube:
[Dan Nelson Chicago Investment Minded Power Broker & Investor]

Find the complete conversation here: https://youtu.be/tJqAdA6TnrA?si=NKMgPU0atkY0CHS9

Follow for more insights, conversations, and valuable takeaways.

09/10/2026

Being a “neighborhood expert” doesn’t automatically mean you’re getting the best price for your property.

There are plenty of great agents who specialize in specific Chicago neighborhoods. But knowing the neighborhood isn’t enough.

If an agent prices a property too low just to generate a quick sale and create a bidding war, selling $150,000 over asking might sound impressive—but what if the property was actually worth another $100,000?

That’s why pricing should start with the data, not just firsthand knowledge of the neighborhood.

Comparable sales, property characteristics, market conditions, and buyer demand can tell you a lot more than simply saying, “I know this area.”

The goal isn’t to sell your property for the highest amount over asking.

The goal is to price it correctly in the first place.

09/09/2026

Chicago is one of the biggest cities in the country—and you can still find relatively affordable investment properties here.

That’s something people outside of Chicago seem to recognize quickly.

I regularly hear from investors in other cities who are looking at Chicago because they see an opportunity to invest in a major U.S. market without the same price barriers found in some other major cities.

But if you live here, it can be easy to take that for granted.

When you’re surrounded by it every day, you don’t always realize how unique it is to have the size, neighborhoods, rental demand, and opportunities of a city like Chicago while still having access to relatively affordable investment properties.

Sometimes you have to step outside your own market to see the opportunity sitting right in front of you.

09/09/2026

What does “AS IS” actually mean when buying a property?

A lot of buyers see those words in a listing and assume it means they can’t inspect the property. That’s not necessarily the case.

You can still have an inspection, but the contract can specify whether you’re allowed to make requests based on what you find.

An inspection with requests allows you to ask for repairs or credits if issues come up.

An inspection without requests means you’re agreeing to inspect the property but generally not ask the seller for repairs or money based on what you find.

But what happens if you discover something truly unexpected?

For example, you pay for a sewer scope and discover the sewer line is completely destroyed—something neither you nor the seller knew about.

That’s where things can get more complicated. Even with an “as-is” agreement, the buyer may still have options depending on the contract and circumstances, including potentially canceling the deal.

The big takeaway: “As-is” doesn’t mean you should stop doing your due diligence.

Understand the inspection terms, know what you’re agreeing to, and make sure you understand your rights before signing the contract.

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