Straight Up Chicago Investor Episode 38: Can't Find Deals on the MLS? The Cook County Land Bank has Hundreds of Distressed Properties Waiting for Investors
Are you looking for distressed deals? The Cook County Land Bank (CCLB) has plenty and they go right under most investor's noses! In today's episode, Rob Rose provides an overview of the CCLB, a socially responsible wholesaler working with investors to turn dilapidated properties into newly remodeled homes. Rob describes CCLB's acquisition process, their commitment to neighborhoods, CCLB's unique ability to wipe out liens, and how you can engage with CCLB to get in on the action.
Listen in to hear all that he has to say, and if you learn something, hit that 5 star button. If you want to see how we can improve your property performance, check us out at GC Realty & Development, LLC.: Chicago Property Management, Chicago Homes for Rent.
Connect with Mark and Tom: StraightUpChicagoInvestor.com
Email the Show: StraightUpChicagoInvestor@gmail.com
Sponsor: GC Realty & Development
Guest: Rob Rose of the Cook County Land Bank
Link: Family Properties: How the Struggle Over Race and Real Estate Transformed Chicago and Urban America Link: Thurman Tony Smith on LinkedIn Link: Calvin L. Holmes-----------------
Guest Questions
Landlord tip 4:30
What is the Cook County land bank? 7:22
What is the land bank able to do faster than the county/city can? 9:10
Besides REO, what are some other ways the land bank acquires property.10:00
What is a tax sale, annual sale and scavenger sale? 13:00
How is your budget funded? 23:00
What kind of activity have you guys been doing? 25:10
What's the distribution of property types that you acquire? 30:10
As an investor, how can I engage in the land bank? 34:35
What are things the land bank wants to see on applications for new applicants? 39:20
How often are inventories on the website updated? 43:10
What are the restrictions on the sale? 44:20
Wrap Up Questions
What has the land bank done to be successful? 48:15
What is one piece of advice you'd tell someone who has yet to buy their first property through the land bank? 49:40
What do you do for fun? 51:48
What is a good self development product you'd recommend? 52:01
Who would you recommend as a resource in Chicago? 53:45
How can we find out more about you? 54:50
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Production House: Flint Stone Media
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