Straight Up Chicago Investor Episode 209: Building a Portfolio with New Construction Rentals, STRs, and MTRs with Chicago REIA's Andrew Holmes
Do short term, mid term, and new construction rentals interest you?! Andrew Holmes provides great insight on how he's been utilizing all of these investment vehicles to grow his portfolio!
Andrew kicks things off by discussing the differences between today's real estate market and the 2012 market when he got started in real estate. He transitions into the new construction development that he and his group have been working on in Florida. Andrew explains how he's been able to explode his cash-flow with short term and mid term rentals while remaining conservative in the underwriting of those investments. He closes with his thoughts on today's interest rate environment, the opportunities that those rates are providing, and provides a 5 year outlook for things he and his team will accomplish!
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Connect with Mark and Tom: StraightUpChicagoInvestor.com
Email the Show: StraightUpChicagoInvestor@gmail.com
Guest: Andrew Holmes, Chicago REIA
Link: SUCI Ep 50 - Andrew's Last SUCI Episode
Link: SUCI Ep 62 - Farrah Ali
Link: Diaries of a Female Real Estate Investor (Book Recommendation)
Link: PetScreening.com
Sponsors: Midwest RE Networking Summit and Essex Realty Group
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Guest Questions
03:31 Housing Provider Tip: Utilize pet screening software to prevent scammers from getting away with false pet certificates!
06:07 Intro to our guest, Andrew Holmes!
08:45 Differences between the 2012 and 2023 real estate market!
11:25 What has Andrew been working on since he was last on the show in 2021?
17:19 Andrew discusses lessons learned from building new construction homes in Florida!
24:23 Andrew talks about investing in Short Term and Mid Term Rentals!
39:05 How can you tell if a market has strong demand for STRs or MTRs?
44:40 Andrew talks about interest rates in today's market!
47:19 What do the next 5 years look like for Andrew and his group?
50:54 What is Andrew's competitive advantage?
51:17 One piece of advice for new investors.
51:34 What do you do for fun?
51:42 Good book, podcast, or self-development activity that you would recommend?
53:07 Local Network Recommendation?
53:59 How can the listeners learn more about you and provide value to you?
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Production House: Flint Stone Media
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