Episode 115: The Current State of Chicago's Northside Real Estate Market with Managing Broker Brie Schmidt

Jan 13, 2022

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Wondering if it's time to jump into the Chicago Real Estate Market? Brie Schmidt provides a recap of the 2021 market and dives into the current trends and expectations for 2022.

Brie explains how low inventory has impacted the market and how buyers have had to readjust their expectations. She also discusses lending challenges on properties in her area of expertise, Chicago's North Side. Brie drops street-level knowledge on neighborhoods and how buyers in different life stages are choosing where to invest.

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Connect with Mark and Tom: StraightUpChicagoInvestor.com

Email the Show: StraightUpChicagoInvestor@gmail.com

Guest: Brie Schmidt of Second City Real Estate

Link: Getting Things Done (Book Recommendation)

Sponsors: Kiser Group and Pentwater Cabinetry.

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Guest Questions

00:58 Negotiation tips to facilitate your transactions.

04:17 House Provider Tip: Choose a discreet location for your lockboxes to avoid break-ins!

06:50 What was the most surprising part of 2021?

09:30 How have buyers been reacting to the lack of inventory and how is inventory today?

12:20 How is Brie handling buyers and helping them purchase investment properties during a hot seller's market?

18:28 What is the common dilemma buyers wrestle with in this seller's market and what's an alternative perspective they can take?

21:00 How is the conversation on a purchase different when comparing house hackers to straight up investors?

23:10 How have lending and rates changed during this hot market and the pandemic? What have been some of the challenges?

27:17 What neighborhoods saw the largest growth in 2021?

30:30 How have some fringe neighborhoods changed over recent years? How do buyers reset their tenant expectations in these areas?

34:38 Considerations investors should have when analyzing buildings with deferred CapEx and maintenance.

36:26 What are Brie's thoughts on the City's issues with taxes, pensions, and crime?

43:42 Other perspective changes buyers can/should make in today's market?

46:51 What neighborhoods are over-inflated?

Wrap Up Questions

48:57 What is Brie's competitive advantage?

49:34 One piece of advice for new investors.

50:27 What do you do for fun?

51:58 Good book, podcast, or self development activity that you would recommend?

52:20 Local Network Recommendation?

53:48 How can the listeners learn more about you and provide value to you?

That's our show! Thanks for listening!

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Production House: Flint Stone Media