Straight Up Chicago Investor Episode 172: The Ins & Outs of Chicago's North Lawndale Neighborhood with Robert Waz
Robert Waz of Exterplexy Real Estate & Management joins us to discuss the ins and outs of investing in the North Lawndale neighborhood.
Robert kicks things off by explaining why he started investing in North Lawndale. He dives into unforeseen challenges and underwriting considerations to ensure investors accurately account for all expenses and. Robert goes deep into the neighborhood, including its boundaries, different pockets, the building stock, and planned developments in North Lawndale. Throughout the episode, Robert emphasizes the importance of being hands on with property management as a key to success in this neighborhood!
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Connect with Mark and Tom: StraightUpChicagoInvestor.com
Email the Show: StraightUpChicagoInvestor@gmail.com
Guest: Robert Waz, Exterplexy Real Estate & Management
Link: The City Podcast (North Lawndale Episodes)
Link: Basic Economics (Book Recommendation)
Link: SUCI Ep 45 - Jack Crane with CIC
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Guest Questions
02:30 Housing Provider Tip: Be sure that your property's exterior is sealed to prevent animals from getting in!
04:22 Intro to our guest, Robert Waz!
05:26 Why did Robert choose to start investing in North Lawndale?
06:31 Robert talks about his first property in North Lawndale!
08:20 What were some unforeseen challenges of investing in North Lawndale?
12:57 What was the timeframe of Robert's first renovation project?
16:04 Robert talks about underestimating expenses in C/D class neighborhoods!
20:19 Robert talks about North Lawndale's boundaries, building stock, and more neighborhood characteristics!
27:19 What are some ballpark numbers for rental properties in this area?
29:33 Robert discusses CHA vs Market rate tenants.
33:37 What are some developments going on in North Lawndale?
38:49 What do the next 2-3 years look like for Robert and his team?
Wrap Up Questions
43:22 What is Robert's competitive advantage?
43:51 One piece of advice for new investors.
44:35 What do you do for fun?
45:52 Good book, podcast, or self development activity that you would recommend?
46:49 Local Network Recommendation?
48:10 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
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