Straight Up Chicago Investor

Bill Himmelstein of Tenant Advisory Group drops in to share great insight on long-term investing and reminds us that real estate is not a "get rich quick" but rather a "get wealthy slowly" investment. Bill starts by talking about his start in real estate and his experience with multi-family investing. He gets granular by speaking to the effect of rising interest rates on the market and also explains investing with partners. Bill emphasizes the importance of living below your means and adapting the long-term investor mindset to build generational wealth. This episode is full of golden nuggets around having a long-term outlook to keep growing your real estate portfolio! If you enjoy today's episode, please leave us a review and share with someone who may also find value in this content! Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Bill Himmelstein, Tenant Advisory Group Link: Willam Himmelstein - Tenant Advisory Group Link: The Secret of Shelter Island (Book Recommendation) Sponsors: The Axon Group (EXP Realty) and Appeal.tax ----------------- Guest Questions 02:44 House Provider Tip: Be mindful of timelines when planning turnovers with Section 8 tenants! 05:13 Intro to our guest, Bill Himmelstein! 08:03 How did Bill get started in real estate? 11:23 How do you balance having capital on hand with investing that money into long-term investments? 17:50 How did Bill begin buying multi-family real estate with partners? 22:31 Bill talks about a previous deal. 29:31 How are rising interest rates affecting cap-rates? 34:50 How does Bill handle his limited partnerships? 43:02 How does someone with little capital get started? Wrap Up Questions 46:31 What is Bill's competitive advantage? 47:50 One piece of advice for new investors. 48:25 What do you do for fun? 49:22 Good book, podcast, or self development activity that you would recommend? 50:28 Local Network Recommendation? 51:33 How can the listeners learn more about you and provide value to you? That's our show! Thanks for listening! ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2022.

What is the NBOA Summer Soiree and how can investors benefit from this event? Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Mike Glasser of NBOA Link:https://www.straightupchicagoinvestor.com/podcast/episode-37-the-nboa---your-ally-and-voice-as-a-chicagoland-housing-provider ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2022.

Ever wonder how your Cook County properties are assessed and how taxes are calculated? Cook County Assessor Fritz Kaegi presents valuable info on property taxes and the overall mission of his office! Fritz starts by sharing his background and how it allowed him to seamlessly step in and improve processes as the Assessor. He talks about his office's responsibilities and some of the common misconceptions the public may have. Fritz elaborates on the massive amount of data involved with assessing 1.9 million properties and gives tips on making your case if you believe your property's assessed value is inaccurate. Tremendous value packed in this episode that can potentially lead to decreased property taxes and increased NOI! If you enjoy today's episode, please leave us a review and share with someone who may also find value in this content! Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Fritz Kaegi, Cook County Assessor's Office Link: Capital Allocators (Podcast Recommendation) Link: Hacks on Tap (Podcast Recommendation) Link: Power Broker (Book Recommendation) Link: Samir Mayekar (Network Recommendation) Link: Michael Fassnacht (Network Recommendation) Sponsors: GC Reality and The Axon Group (EXP Realty) ----------------- Guest Questions 02:29 House Provider Tip: Do not overpay for a property simply to complete a 1031 Exchange - weigh out all options! 05:43 Intro to our guest, Fritz Kaegi! 06:24 What attracted Fritz to the position of Cook County Assessor? 08:34 How are property taxes calculated? 18:20 What is the process for establishing assessed values? 25:29 How is the massive amount of data managed by the Assessor's office? 29:01 How many PINs are there in Cook County? 29:44 Why is a majority of the property tax burden put on the housing providers (i.e. owners of apartment buildings)? 33:32 How are property taxes impacting affordable housing? 35:45 What are some common misconceptions about the Cook County Assessor? Wrap Up Questions 41:20 What is Fritz's competitive advantage when compared to his predecessors? 43:04 One piece of advice for new investors. 45:29 What do you do for fun? 45:51 Good book, podcast, or self-development activity that you would recommend? 47:46 Local Network Recommendation? 49:04 How can the listeners learn more about you and provide value to you? That's our show! Thanks for listening! ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2022.

As many may already know, Rod Khleif is a multifamily real estate investor, business consultant, and high-performance coach. In today's show, Rod focuses heavily on being prepared to take action as opportunities arise during a changing market like the one we are in today! Rod starts off by speaking about the huge loss he experienced during the last housing crash and how he was able to bounce back stronger. He elaborates on the anticipated recession and on what investors should be doing to capitalize on upcoming opportunities. Rod emphasizes the importance of real estate being a team sport and gives his take on single-family vs multi-family investing. This episode is loaded with empowering words on taking action and embracing a mindset to succeed in real estate and life in general! If you enjoy today's episode, please leave us a review and share with someone who may also find value in this content! Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Rod Khleif of Rod Khleif Multifamily Mastery Link: The 5 Love Languages (Book Recommendation) Link: Turning Pro (Book Recommendation) Link: The One Thing (Book Recommendation) Link: The Lifetime Cashflow Podcast Sponsors: Kiser Group and Appeal.tax ----------------- Guest Questions 02:47 House Provider Tip: Focus on retaining existing tenants to prevent costly turnovers! 05:23 Intro to our guest, Rod Khleif! 06:07 The rise and fall of Rod Khleif! 09:07 What is Rod doing to prepare for the anticipated recession? 16:23 How do you balance being patient with continuing to strive towards goals in this market cycle? 19:09 What is step one in preparing for a market turn? 25:07 What would you say to new investors who want to start with single-family homes and then transition into multi-family? 27:05 What is EOS? 28:47 What mistakes do investors make when vetting people for their team when trying to scale? 31:42 How will Rod be changing his asset management during this changing market? 33:07 What is Rod's competitive advantage? Wrap Up Questions 33:48 One piece of advice for new investors. 34:32 What do you do for fun? 34:51 Good book, podcast, or self development activity that you would recommend? 36:26 Local Network Recommendation? 37:14 How can the listeners learn more about you and provide value to you? That's our show! Thanks for listening! ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2022.

Mayor of Aurora and gubernatorial candidate Richard Irvin discusses his plan to create jobs, lower crime, and attract businesses if he were to be elected Governor of Illinois. Richards speaks on hot-topic issues including affordable housing, taxes, and crime. He dives deep into his tenure as Mayor of Aurora and how he can translate Aurora's successful revitalization to the rest of the state as governor. Innovative concepts on reforming the educational and police system are among other nuggets dropped in the episode. Richard closes with empowering words on his vision of making Illinois the "Land of Lincoln" again and bringing pride back to our state! If you enjoy today's episode, please leave us a review and share with someone who may also find value in this content! Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Richard Irvin from the City of Aurora Link: SUCI Episode 30 (Investing in Aurora) Sponsors: Kiser Group and Prime Lending ----------------- Guest Questions 03:28 Intro to our guest, Richard Irvin! 04:28 What does Richard consider to be his greatest accomplishment? 06:40 What can be done to create more affordable housing in Illinois? 10:42 What is the sequence of events to create affordable housing and bring businesses to Illinois? 12:48 How can Richard transfer what he's done in Aurora to the rest of the state? Wrap Up Questions 17:27 What are the first steps to solve the crime issues in Illinois? 22:55 How can we get the community to buy into this plan of redeveloping Chicagoland? 27:30 What is the one thing Richard wants to be remembered for? 28:45 Chicago/Illinois Fact! That's our show! Thanks for listening! ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2022.

Are you struggling with deal flow in this market? Joe Sevcik drops in to share how Networth Realty is acquiring distressed properties and wholesaling to add value to their investors. Joe covers how his company is grinding it out by hitting the streets to get in front of motivated sellers. He talks about the mindset required to succeed in this space where rejection is commonplace. Joe dives deep into how his company is adding value to their investor clients by project values and construction costs to name a few things. This episode is full of nuggets on deal acquisition and things to keep in mind when looking for your next off-market, distressed property! If you enjoy today's episode, please leave us a review and share with someone who may also find value in this content! Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Joe Sevcik from Networth Realty Link: Rich Dad Poor Dad (Book Recommendation) Link: How to Win Friends and Influence People (Book Recommendation) Link: Illinois Transfer Tax Info Sponsors: Kiser Group and Appeal.tax ----------------- Guest Questions 03:22 House Provider Tip: Be mindful of pest control and account for associated expenses! 06:35 Intro to our guest, Joe Sevcik! 07:30 What/who is Networth Realty? 08:02 What is Networth Realty doing to acquire deals? 10:42 How do Joe and his team stay motivated when marketing to sellers is unsuccessful a large portion of the time? 12:20 How is Networth Realty adding value to their investors? 14:50 How is estimating rehab costs different in Chicago compared to other locations? 19:06 What are some tips for investors looking for off-market deals? 21:40 How are Joe and his team following up with sellers? 25:27 Any cool or funny stories when acquiring these distressed homes? 26:15 What is an example of a deal that was difficult to close on? 27:27 How has the hot market impacted the business? 29:02 Who are the ideal clients/investors for Networth Realty? 32:56 What does the future look like for Networth Realty? 35:15 For someone interested in joining Networth Realty, what skills/qualities should they bring? Wrap Up Questions 37:15 What is Joe's competitive advantage? 38:00 One piece of advice for new investors. 38:18 What do you do for fun? 38:47 Good book, podcast, or self-development activity that you would recommend? 39:40 Local Network Recommendation? 39:57 How can the listeners learn more about you and provide value to you? That's our show! Thanks for listening! ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2022.

What is a HUD 203k loan, when does it make sense for investors to leverage this loan, and where do 203k loans fall apart? Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Perry Farella of Prime Lending Link: ttps://perryfarella.com/blog/ ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2022.

RJ Deleon is all things real estate, as he wears the hats of a contractor, investor, and mentor. In today's show we focus almost exclusively on RJ's experience as a GC and how investors can best partner with contractors. RJ covers some of the most frequently asked questions investors have for GCs and how he handles different requests from investors. He showcases how his personal investing experience is a huge value-add to his clients and explains how to approach, vet, and manage contractors. Throughout the episode, RJ drops numerous jewels of wisdom on building quality relationships with contractors so that you can successfully take down your next rehab! If you enjoy today's episode, please leave us a review and share with someone who may also find value in this content! Also check out RJ's previous episode with his wife Nicky - https://www.straightupchicagoinvestor.com/podcast/episode-43-househacking-scaling-and-large-multifamily-deals-with-one-of-chicagos-best-power-couples Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: RJ DeLeon, EJC Partners Link: Book Recommendation Link: Brie Schmidt (Network Referral) Link: Jason Wagner (Network Referral) Link: Quality Builders (Network Referral) Sponsors: Kiser Group and Appeal.tax ----------------- Guest Questions 03:10 House Provider Tip: Be more specific in texts/emails to avoid miscommunication! 05:07 Intro to our guest, RJ DeLeon! 06:09 What is the one thing that contractors get asked most frequently? 08:30 What is RJ's strategy when estimating a construction job? 10:14 How does RJ consult investors on their construction scopes to get the best ROI? 13:28 How is RJ marketing his consulting services? 16:25 How does RJ handle requests to walk properties? 19:14 How can an investor most-effectively approach a contractor when requesting services? 23:26 What questions should an investor ask contractors to vet them? 31:07 How can an investor effectively keep tabs on a project to ensure progress is being made? 34:55 How can draw schedules be set up to protect both the investor and the contractor? 40:45 What is a mechanics lien? 42:40 How is RJ tracking scopes, schedules, and other elements of the project? Wrap Up Questions 44:59 What is RJ's competitive advantage? 45:50 One piece of advice for new investors. 46:47 What do you do for fun? 47:35 Good book, podcast, or self development activity that you would recommend? 48:36 Local Network Recommendation? 49:35 How can the listeners learn more about you and provide value to you? That's our show! Thanks for listening! ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2022.

Ever wonder how professional athletes are investing to set themselves up for life after their sports career? NFL Tight End Matt LaCosse joins us to shine light on this exact journey. Matt starts off by talking about how the skills required to be a professional NFL player translate to real estate investing. He explains why he came back home to Chicago to start his investing career. Matt dives into the lessons learned on his first C- class investment and how that changed his investment strategy. Mr. LaCosse talks about his current Naperville investments and closes with golden nuggets on building a team and setting yourself up for success as a new investor! If you enjoy today's episode, please leave us a review and share with someone who may also find value in this content! Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Matt LaCosse Link: Book Recommendations Link: Bibek Das (Network Recommendation) Sponsors: The Axon Group (EXP Realty) and Appeal.tax ----------------- Guest Questions 02:25 House Provider Tip: Consider other ways Real Estate makes you money aside from cash-flow during this tight inventory market! 05:01 Intro to our guest, Matt Lacosse! 06:30 How do skills required for the NFL translate into Real Estate investing? 07:02 How did Matt get into real estate? 08:42 How is the quality of the NFL financial literacy classes? 11:34 Why did Matt come back to Chicago to start investing? 12:53 How did Matt's first investment go? 14:44 What caused Matt to shift his investing to more developed neighborhoods? 17:45 How is Matt sourcing deals? 19:00 What is Matt's time allocation to real estate during the week while balancing his NFL career? 22:35 What type of precautions is Matt taking given the economic environment? 26:53 Has Matt considered syndicating deals with his teammates? 28:36 What is Matt's outlook on his real investing career? 32:33 Are there any other opportunities beyond Chicago? Wrap Up Questions 34:36 What is Matt's competitive advantage? 35:09 What is the one piece of advice for new investors looking to buy their first property in Chicago? 35:55 What do you do for fun? 36:41 Good book, podcast, or self development activity that you would recommend? 37:27 Local Network Recommendation? 38:15 How can the listeners learn more about you and provide value to you? That's our show! Thanks for listening! ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2022.

Perry Farella provides tangible numbers on a recent purchase and rehab project he financed. Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Perry Farella of Prime Lending Link: ttps://perryfarella.com/blog/ Link: https://www.straightupchicagoinvestor.com/podcast/episode-67-chicagoland-rehab-financing-without-using-hard-money-or-203k-loans ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2022.