Straight Up Chicago Investor

Are you interested in multifamily buildings in the southside of Chicago? Are you looking to know the ins and outs of Bronzeville along with some of its adjacent neighborhoods? Ted Stratman is one of the leading brokers in Chicago and in this episode he lays out invaluable block by block knowledge - including what rents have done over the last twelve months, how demand in Bronzeville and its surrounding area has fared through COVID, and what types of opportunities are available in specific sub-markets. Listen in and hear more from Ted Stratman. If you like what you hear, hit that subscribe button and share this with a friend! Like what you hear? Please take the 5 second to leave us a review. Listen in and share with a friend! Also, check out our Straight Up Chicago Investor Club at https://www.facebook.com/groups/3265227216848263 Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Sponsor: John Warren Guest: Ted Stratman of Interra Realty Link: The $100 MBA Link: JS Group Link: Interra Realty Link: Chicago Property Management ----------------- Guest Questions Landlord tip of the week 4:50 Guest Intro 7:50 Any insight in what the south loop multifamily market looks like in the next few years? 8:50 How have rents in your neighborhoods fared in the last twelve months? 12:05 What are the geographic boundaries to Kenwood and why would an investor look there? 13:07 What's the housing stock in Kenwood like? 15:20 Can you talk about the multifamily housing in Bronzeville and the housing stock there? 18:30 Are you seeing value add opportunities in Bronzeville?20:55 What are ARV's like on the slight value add projects? 22:15 Has there been any new developments near 43rd and the green line? 28:00 What are the opportunities around 47th and 51st corridor 28:47 What would a 500K investment mean in your neighborhoods? 33:25 What kinds of redevelopments have you seen in the last 10 years that have transformed the area? 35:30 How do you think COVID will affect Bronzeville? 38:40 Are there any nuances I should be aware of if you're doing a rehab in Bronzeville? 40:00 What's different in transactions today than when you started? 40:55 Any other areas you like in the southside? 42:40 Wrap Up Questions What is your competitive advantage? 44:20 What is one piece of advice you'd give a new investor? 46:10 What do you do for fun? 47:28 What's a self development activity you use? 48:15 Who would you recommend as a resource in your local network? 49:50 How can we learn more about you? 50:51 ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2020.

Luke Blahnik of Flor Blahnik, is a true real estate entrepreneur (and owner of Avondale Bowl!). In this episode, Luke provides block by block insights investors need to know to successfully invest in Logan Square. He explains what attracted him to the area as well as the future prospects for growth despite the massive run up over the past 10 years. Luke dives into tenant expectations, rehab expectations, demand as it relates to Boulevard proximity, and the long-term value of brick buildings and oversized lots. Luke also breaks down surrounding neighborhoods and provides his thoughts on the future of Avondale, specifically around the Blue Line stops. Like what you hear? Please take the 5 second to leave us a review. Listen in and share with a friend! Also, check out our Straight Up Chicago Investor Club at https://www.facebook.com/groups/3265227216848263 Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Sponsor: John Warren Guest: Luke Blahnik of Flora | Blahnik| Luke's Instagram | Call Luke Link: The Pullman Historic District Link: Avondale Bowl Link: Logan Square Preservation Link: Logan Square Neighborhood Association Book: The Tipping Point: How Little Things Can Make a Big Difference Link: Erwin Law Link: Radio Headspace on Apple Podcasts ----------------- Guest Questions Landlord tip of the week 2:40 How did you get started in Logan Square? 8:30 Is there still growth in Logan after this 10 year run? 11:30 Has there been any upsizing of buildings in Logan? 13:50 What are some things an investor should be looking for at an investment? 15:05 How has the 606 played into the investment thesis of logan square? 18:00 What are your opinions on 2 unit frame buildings staying as rentals? 20:25 Do you think the growth of Logan Square will go west into Hermosa and Belmont-Craigin? 22:45 What are things I should look for if I'm new in Avondale or northwest neighborhoods? 25:40 How are you able to find deals in today's market where things are getting multiple offers? 29:40 Is there any difference between the California or Logan blue line stops? 33:10 How does COVID affect somewhere like Logan Square which is so tied to access to transit? 35:40 Wrap Up Questions What is your competitive advantage? 37:00 What is one piece of advice you'd give a new investor in Chicago? 38:20 What do you do for fun in Logan Square? 39:10 What's a good self development activity? 40:20 Besides yourself, name one person in your network you'd recommend? 41:47 How can we learn more about you? 43:10 ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2020.

"You have to watch out for your property taxes," has been said in numerous episodes. On today's episode we bring a tax appeal expert to explain how to proactively protect your investment against increasing property taxes. Tim Jacobs of KSN Law dives deep into the complex world of Illinois property taxes and about the multiple ways you can appeal property taxes in Chicago, the tax assessment cycle and what data points you can leverage to strengthen your apparel cases. Tim also gives a tip on how to get an owner exemption on a property you don't actually live in, and why you might not want to go that route. Listen in to our conversation with Tim Jacobs and if you learned something, please leave us a rating and share us with a friend. Listen in and share with a friend! Also, check out our Straight Up Chicago Investor Club at https://www.facebook.com/groups/3265227216848263 Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Sponsor: Smith REO Guest: Tim Jacobs of KSN Link: Cook County Assessor's Office: Stay Home. Stay Safe. Get Our Help Online. Link: Cook County Property Tax Portal Link: Appeal.Tax Link: KSN Attorney Timothy Jacobs | KSN Law Link: Radio Headspace on Apple Podcasts ----------------- Guest Questions Landlord tip of the week 1:30 Guest Intro 4:00 How are properties assessed in Cook county? 4:55 Why are cook county assessment dates inconsistent compared to other counties? 11:30 How do non paying tenants change things in the covid environment in terms of assessments? 14:30 Do vacancies during long rehab projects apply towards an appeal? 16:09 Is there a vacancy threshold that is important to cross to raise the argument? 18:10 What are the steps when reaching out to someone to appeal taxes? 19:00 When people file appeals, how often is the appeal verified in person? 23:45 How does permitted work fit into tax assessments? 25:00 How can I guess what my taxes will be after a major value-add project? 25:55 What determines what the assessed value becomes? 28:11 How do homeowners exemptions play into MFH you live in? 30:30 Is there a limit on how many units I can have and still get the homeowners exemption? 32:40 What are some nuances to Cook county's property taxes? 35:40 Why is it that Chicago pays considerably less taxes than the outside suburbs? 37:40 Why would someone hire an attorney to appeal taxes over doing it themselves? 40:25 How do attorney's get paid for tax appeals? 41:30 Wrap Up Questions What is your competitive advantage? 43:03 What is one piece of advice you'd tell a new investor? 44:24 What do you do for fun? 45:30 What's a good self development tool you use? 46:20 Who is one person you'd recommend in your network? 46:47 How can we learn more about you? 47:25 That's our show, thanks so much for listening! ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2020.

In this week's episode, Sean Morrissey of Chicago Realty Group LLC breaks down investing in and around Aurora, focusing on the downtown redevelopment taking place to bring the old riverboat city back into the spotlight. Aurora is full of diverse opportunities, including tax credits, and unique zoning discrepancies that allow the clever investor the ability to redevelop mis-zoned land. Sean also explains how certain parts of Aurora fall into neighboring town school districts, which allow for pockets of strong investment opportunity. Listen in and share with a friend! Also, check out our Straight Up Chicago Investor Club at https://www.facebook.com/groups/3265227216848263 Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Sponsor: Smith REO Guest: Sean Morrissey of Chicago Realty Group LLC Link: Tony Angelos: BP Profile | Email: tony@irpinogroup.com | Cell: (708) 627-9702 Link: Aurora Economic Development | Invest Aurora: Homepage Link: Home Ownership Support | The Neighbor Project Link: Aurora Tech Investment | 605 Innovation District Link: Towns with multiple schools Link: Sean's Podcast | ‎Landlording for Life on Apple Podcasts Link: Podcast recommendation | Real Estate Investing Podcast for Passive Wealth Link: Podcast recommendation | Cash Flow Connections Link: Network Recommendation | Brandon Svec - Director - Market Analytics - CoStar Group ----------------- Guest Questions Landlording Tip of the Week 2:15 Guest Intro 5:00 Can you explain what the rent to price ratio of 1.0? 5:50 Tell us about the housing in Aurora and the surrounding area? 7:20 What is your investment strategy in Aurora? 9:30 Are there Opportunity zones in Aurora that are better than others? 12:25 Can you explain what the redevelopment of downtown Aurora looks like? 13:25 Can you explain TIF districts? 17:15 How do the good school districts in other towns affect the aurora residential market? 22:15 What kind of opportunities are you seeing there? 24:30 What's the rental market in Aurora like and how do rental licenses work? 26:00 What are some nuances an investor might have to look out for? 30:00 How do you think Aurora will come out of COVID? 34:40 Wrap Up Questions What's your competitive advantage? 35:45 What's one piece of advice you'd tell a new investor in the area? 36:45 What do you do for fun? 38:00 Can you give us a good self development activity you use? 38:40 Who would you recommend in your network as a quality resource? 40:21 How can we learn more about you? 41:38 That's our show, thanks so much for listening! ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2020.

Ciere Boatright is the VP of Real Estate and Inclusion at CNI and has managed the planning and development of over $350 Million in new investment in southside neighborhoods. Today, Ciere walks us through several of those projects, with a focus on CNI's successful revitalization of Pullman. Ciere explains CNI's approach towards creating jobs and affordable housing in specific communities, and why investors should care. Some topics covered are how subsidies offered for affordable home ownership affect the community, how investors can have access to benefits of the social programs stimulating the neighborhoods as well as future projects planned for the area. If you enjoyed this episode, please leave us a 5 star review and share us with a friend. Also, join our FB Group at https://www.facebook.com/groups/3265227216848263 Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Sponsor: Smith REO Guest: Ciere Boatright of Chicago Neighborhood Initiatives Link: National Park Service, Pullman Monument | Pullman National Monument (US National Park Service) Link: History | A Brief Overview of the Pullman Story - Pullman Link: Benefits of Enterprise Zones | Enterprise Zone Program Link: Chicago Opportunity Zones | Opportunity Zones Link: Invest Southwest | Invest Southwest | Venture Madness – Presented by Invest Southwest In Partnership with The Arizona Commerce Authority Link: Red Line Extension | CTA Red Line Extension Project - CTA Link: Pullman Food Hall | One Eleven Food Hall – Creating A Diverse Dining Collective In Pullman Link: Book Recommendation | The Warmth of Other Suns: The Epic Story of America's Great Migration Link: Carlos Nelson | GAGDC Staff Leadership Link: Leon Walker | Our People Link: Abraham Lacy | https://www.farsouthcdc.org/about-us ----------------- Guest Questions Landlording Tip of the Week 2:43 Guest Intro 4:49 What has been the catalyst for revitalization over the past 10 years? 7:25 Can you talk about how CNI has improved the housing stock in the area? 11:00 How have investors succeeded in Pullman? 16:04 How has the history of Pullman helped the growth of the neighborhood? 21:30 What are some of the things an investor should be looking at from an urban planning perspective? 23:20 Can you tell us about the red line extension project? 27:00 How has Pullman been different from other areas CNI invests in? 28:10 How have your financing partnerships helped get projects done? 30:30 Is there a way a new investor can get connected to CNI? 33:00 Wrap Up Questions What is your competitive advantage? 34:05 What is one piece of advice you'd give to a new investor? 36:00 What do you do for fun in Pullman? 37:00 What is a good self development activity you'd recommend? 38:47 Who is one person you'd recommend to others as a quality resource? 39:40 How can we learn more about you? 41:25 That's our show, thanks so much for listening! ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2020.

There are over 125,000 RE/MAX agents in the US, and in 2019 not one of them sold more properties than REO expert Ryan Smith. That's right, our guest is #1 out of 125,000. In this episode, Ryan Smith and his partner Mike Harvey discuss REO properties, how to work with REO agents, and the difference between foreclosure and pre-foreclosure. Ryan and Mike shine light on the nuances a Chicago investor may experience compared to investors buying REOs in other markets, and what local investors can do to prepare for upcoming REOs. In addition, Ryan and Mike discuss how COVID has affected IL default rates, as well as what this means for investors looking for distressed assets. With so much talk about evictions and forbearances in Chicago, this episode is timely and highly relevant. If you like what you hear, please leave us a 5 star review! Also, join our FB Group at https://www.facebook.com/groups/3265227216848263 Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Ryan Smith & Mike Havey of Smith REO Link: Cook County Recorder Link: Book Rec | Traction: Get a Grip on Your Business: Wickman, Gino Link: Book Rec | Grit: The Power of Passion and Perseverance: Duckworth, Angela Link: Book Rec | The Art Of War: Sun Tzu Link: Recommendation | Marblestone Property Group: Chicago Property Management and Property Managers, Chicago Houses and Homes for Rent Email Addresses | Ryan@smithreo.com ----------------- Guest Questions Landlord tip of the day 2:56 Guest Intro 6:03 Who are your clients at smith REO? 7:45 What's the difference between Pre- Foreclosure and Foreclosure? 10:10 Is the cook county recorder's office the same as CCrecorder.org? 13:58 At what point of the foreclosure process do you guys come in? 16:05 When putting in an offer, what are the things that give you an upper hand? 22:10 What are your feelings on escalation clauses and what are escalation clauses? 22:46 What is the best way to submit proof of funds? 26:45 What's the first step you'd tell an investor who wants to get involved buying your deals? 32:55 How has 2020 changed your business and what do you expect going forward? 34:20 What are the differences between now and '08 in terms of high delinquencies? 37:28 Wrap Up Questions What is your competitive advantage? 49:00 What's one piece of advice you'd give a new investor? 49:35 What do you do for fun? 50:15 What's a good self development activity you use? 51:05 Who is one person you'd recommend in your local network? 52:00 How can we learn more about you? 52:39 That's our show, thanks so much for listening! ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2020.

Jason Marcordes, owner of Landmark Property Management, provides insight into how Pilsen has evolved and why he thinks it still has a runway for growth. Jason dives into tenants expectations and several nuances that come with investing in one of the oldest neighborhoods in the city. Aside from Pilsen, we touch on surrounding neighborhoods such as Little Village and Bridgeport, and analyze price points, housing stock, neighborhood growth, and more. If you learned something today from Jason, please take a moment to leave us a 5 star review and share us with a friend! Also, join our FB Group at https://www.facebook.com/groups/3265227216848263 Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Jason Marcordes of Landmark Property Management Link: Facebook Group | Straight Up Chicago Investor Club Link: Book Rec | Can't Hurt Me: Master Your Mind and Defy the Odds Link: Book Rec | The Compound Effect (9781593157241): Hardy, Darren: Books Link: Mortgage Lender | Jason Brown, NMLS #729220 | Call Jason | Email Jason ----------------- Guest Questions Landlord tip of the week 4:03 Guest Intro 5:30 How have the Pilsen Stockyards changed over time? 7:30 How did you end up choosing Pilsen as a home base? 8:30 How does the housing stock differ in Pilsen from the rest of the city? 10:15 Are investors completely gut rehabbing properties in Pilsen or just accepting the smaller bedrooms? 11:10 What are some of the nuances in Pilsen to expect as opposed to other parts of the city? 12:05 What are some tenant expectations for rehabs in Pilsen? 13:30 What are the main streets/ sections of Pilsen I should be aware of as an investor? 16:30 How do the tenant expectations and prices change as you move West from Pilsen? 19:30 Are you managing a lot of market rents or more section 8? 24:19 How does the investment environment compare in Bridgeport to Pilsen and Little Village? 26:10 Do you get involved in the tri-taylor area, and what's that neighborhood like? 26:50 How have your rents been since COVID hit? 29:00 Can you give rough pricing on a turn key deal in Pilsen? 29:54 Do you see city taxes becoming more of a burden as Pilsen grows? 31:00 Can you give us your thoughts on Will county as an investment opportunity? 34:30 Wrap Up Questions What's your competitive advantage? 35:25 What's one piece of advice you'd tell a new investor in Chicago? 36:30 What do you do for fun? 37:03 What's a good self development activity you'd recommend? 37:30 Who is someone in your local network you'd recommend? 38:25 How can we learn more about you? 39:10 That's our show, thank you so much for listening! ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2020.

Neal Bawa, the founder of Grocapitus, has built an immense empire of 3,000 units with nearly 40,000 students studying his data driven approach. On today's episode, Neal dives into the key advantages and disadvantages of investing in Chicago compared to other major metros. He also provides his thoughts on opportunity zones, including the major benefits of OZs and why some are destined to fail. Being centered on data, he gives a deep dive into economic factors influencing Chicago, the individual investor, and the real estate market as a whole. Lastly, Neal explains how "churn" is the hidden expense you need to be accounting for. If you enjoy today's episode with Neal, please give us a 5 star review and join our Facebook Group! The group is linked here, and our community is growing - https://www.facebook.com/groups/3265227216848263 ----------------- Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Neal Bawa of Grocapitus Investments Link: Grocapitus Website | Opportunity Zones Link: Multifamily University | Free eBook: Location Magic | Join Our Investor Club Link: Tim Ferriss' Blog Link: Chris Jackson on LinkedIn ----------------- Guest Questions Landlord tip of the week 2:00 Guest intro 5:18 Is Chicago a market people should avoid because it doesn't always look good in macro charts? 6:30 What is an opportunity zone and what are some pros/cons of them? 9:45 Is there a benefit to setting up a QOF if you're in a small project? 17:04 What does a $4 Trillion dollar stimulus package do for an investor? 20:00 What could a downturn look like in the modern world run by banks? 26:00 As an investor, what makes sense as a project to do right now? 28:40 How do you account for churn in your investments? 32:20 Wrap Up Questions What is your competitive advantage? 39:00 What is one piece of advice you'd give a new investor? 40:15 What do you do for fun? 41:10 Name a good self development activity you'd recommend. 42:20 Who would you recommend as a quality resource in your network? 43:40 How can we learn more about you? 44:00 That's our show, thank you so much for listening! ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2020.

Today's episode provides great insights for anyone investing in Chicago, specifically for those unfamiliar with the area. Author, coach, and entrepreneur Kathy Fettke has been featured on The Wall Street Journal, ABC, CNBC, NPR, MarketWatch, among other major media outlets. With over 50,000 members following her advice through her RealWealth Network educational platform, Kathy's team of investors have accumulated over $1 Billion in assets, with the majority of that number being out of state investments. Chicago is one of Kathy's main markets and she has seen firsthand the challenges that come with out of state investing in an area as diverse as Chicagoland. Kathy walks through the Top 5 mistakes she sees out of state investors make and what steps you can take to proactively minimize these occurrences. Take a listen, and please leave us a 5 star review if you like what you hear. Also, don't forget to check out our new Straight Up Chicago Investor Facebook group: https://www.facebook.com/groups/3265227216848263/ ----------------- Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Kathy Fettke of RealWealth Network Link: Kathy's husband's book Link: Cook County Property Taxes Link: Mark's blog on Section 8 room requirements Link: HUD Inspection checklist Link: Site to look up past HUD inspections Link: Kathy's take on Chicago Link: Real Estate News (Kathy' podcast) ----------------- Guest Questions 1:36 - Proactively getting the neighbors on your side 3:56 - Landlord tip of the week 6:06 - Intro 7:58 - How Kathy got started 8:43 - Kathy's life changing event leading to the drive for passive income 10:51 - Why Chicago, and how Kathy chooses a market 13:28 - Chicago as its own universe, 15:01 - How property taxes align to affordability 16:27 - Chicago pricing compared to 2007 18:21 - Mistake #5 - Not performing appropriate due diligence/understanding permits 19:54 - Issues with doing unpermitted work 22:37 - Mitake #4 - Not fully understanding the neighborhood 24:50 Mistake #3 - Not hiring the right property management for your model 28:34 - Mistake #2 - Not understanding property taxes and how they can adjust 29:56 - Contest your Illinois property taxes every year32:27 - Mistake #1 - Not understanding Section 8 Housing 34:40 - Suburbs that provide higher Section 8 rents than market, and how to underwrite 35:21 - Section 8 voucher is inheritable 37:28 - Section 8 inspection and bedroom requirements 39:45 - Other things to look out for when evaluating turnkey companies 42:52 - Redflags for property management entities 45:05 - Real-life embezzlement example, and how to fight through it Wrap Up Questions What is your competitive advantage? 47:54 What is one piece of advice you'd give to a new investor? 51:37 What do you do for fun in Chicago? 52:42 What's a good self-development tool you would recommend? 53:40 Name one person in your professional network that you'd recommend as a quality resource? 54:28 How can we learn more about you? 54:47 That's our show, thank you so much for listening! ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2020.

Chance Badertscher from Lavelle Law, specializes in Commercial and Residential real estate as well as business formation in and around Chicagoland. In this episode, Chance provides nuggets on how to properly interview a real estate attorney and how an attorney should quarterback your transaction. Chance also goes into the role the attorney plays in Chicago real estate transactions and how they can best be utilized as a team member to work more efficiently both before and after the attorney review. Listen to our interview with Chance and if you learned something today, share us with a friend! ----------------- Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Chance Badertscher of Lavelle Law Link: Chance W. Badertscher Link: CRLTO Ordinance | Residential Landlord and Tenant Ordinance Link: Network Recommendation | Ryan W. Gardner Link: Headspace App | Headspace: Meditation and Sleep Made Simple Link: New Chicago Renewal Notice ----------------- Guest Questions Landlord tip of the week 3:04 What are some questions I should ask when picking an attorney? 6:20 When do attorney's get involved, what's expected, and what's the process? 9:50 What are some things people can do to get an attorney review done quickly as possible? 14:50 What does having a contract being "as-is" mean on the legal side of the transaction? 16:50 What role is the attorney playing after attorney review? 19:03 After attorney review, what steps are taken to get to the closing table? 23:30 What kind of appraisal problems have you seen lately and how do you reconcile them? 25:30 How can you be a value add to some of your clients as opposed to just closing transactions? 33:50 Tell us some of the changes you've had to make during COVID in your business? 35:00 Wrap Up Questions What is your competitive advantage? 37:50 What is one piece of advice you'd tell a new investor? 39:52 What do you like to do for fun? 40:50 Name one person from your network you'd recommend as a quality resource. 42:00 What's a good self development tool you'd recommend? 42:30 How can we learn more about you? 43:30 That's our show today! As always, thanks so much for listening! ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2020.