Straight Up Chicago Investor

Our guest today, Noah Birk, is the highest producing multi-family broker in Chicago since 2014. In this episode, Noah provides great hyper-local insights on MFH investing in neighborhoods like South Shore, Auburn Gresham, Washington Park and Englewood. We discuss the impact that the Obama Center and Tiger Woods Golf Course play into the area's appreciation as well as key mistakes to avoid on the south side for new investors. He also talks about how COVID has impacted the value-add space with large MFH investments and how much a typical 2/1 rehab can cost. If you learned something, please give us a 5 star review and share us with a friend! ----------------- Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Noah Birk from Kiser Group Sponsors: Sizzle Home Staging, Das Law, LTD. Link: Available positions at GC Realty Link: Book Recommendation: Extreme Ownership: How U.S. Navy SEALs Lead and Win Link: Jennifer Goldstone Attorney Link: Kiser Group ----------------- Guest Questions Landlord tip of the day 3:58 Guest Intro: 6:15 How important is "block by block" on the south-side? 9:00 How much does the upcoming developments play into the south side? 10:12 Are clients often repeat clients in the south side of Chicago? 11:22 What are general rules of thumb if I'm an interested investor in South shore? 12:33 What are the borders of South Shore you'd be comfortable investing? 15:20 How would you compare Auburn-Gresham to South Shore? 17:40 How do you see transit affecting appreciation in the area? 19:95 How does Hyde Park compare to its surrounding areas? 21:35 What are your thoughts on Englewood as an investment opportunity? 24:30 Are Opportunity Zones influencing your clients? 26:04 How are clients getting buildings rehabbed during this environment? 28:25 Do you have rough numbers on how much a value add is per unit? 29:50 What are some things you make out of state investors aware of? 31:45 For new investors, would you recommend getting started with MFH right off the bat? 34:40 Wrap Up Questions What's your competitive advantage? 37:10 What's one piece of advice you'd give to a new investor in Chicago? 38:29 What do you do for fun? 39:15 What's a good self development tool you'd recommend? 40:05 Name one person you'd recommend as a quality resource in Chicago? 40:55 How can we learn more about you? 41:50 That's our show! Thanks for listening! ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2020.

Matt Fritzshall is the President and Founder of Triton Realty Group with over 200MM in transactions under his belt. Matt was highly successful during the Logan Square boom and in this episode, he'll discuss other Northside markets such as Hermosa and Belmont Gardens that have the potential to be the next Logan Square. Matt also weighs in on the age old debate of starting small or going for a large multi family syndication and the pros and cons of each. Tapping on his experience over the past decade, Matt brings up issues he's seen that slow down the closing and also what an investor friendly agent wants to see from someone new in the game. Listen to Matt's local insights and then leverage this information to move you along your journey. If like what you hear, leave us a review and recommend us to a friend! ----------------- Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Matt Fritzshall from Titon Realty Group Sponsors: Sizzle Home Staging, Das Law, LTD. Link: Heartland Bank Link: Recommendation - GrantCardone.com Link: Heartland Bank Justin Kennedy Link: Renovo Eric Workman ----------------- Guest Questions Guest Intro. 3:35 What are some neighborhoods you like? 4:35 What are some rough guidelines for underwriting in Hermosa or Belmont Gardens? 7:35 How do you differentiate between Renter/Condo quality? 10:27 Can you break down some nuances in your neighborhoods that buyers should know? 12:20 What are your thoughts of starting in a large MFH or smaller deals? 17:08 What are some issues buyers have when trying to close contracts? 22:45 How long does it take to get a commercial loan start to finish? 27:50 How can I get in the game if I have no track record? 32:50 How do you see rents changing in the north side over the next couple years? 35:40 Wrap Up Questions What is your competitive advantage? 41:10 What's one piece of advice you'd give a new investor? 42:25 What do you do for fun? 43:10 What's a good self development activity you would recommend? 44:52 Can you name one person in your network you'd recommend? 46:10 How can we learn more about you? 47:40 That's our show! Thanks for listening! ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2020.

Prashanth Mahakali is the owner of PMPC Architecture firm here in Chicago and an active contributor to Bigger Pockets. He is also an investor and has built his firm under the notion of smoothly handling all headache permits for his clients. In today's episode, Prashanth talks in depth on handling building violations, expediting permits, and navigating the city's easy permit process. Prashanth provides insights to when you do and do not need an architect, and that when you do need one, get them involved before you close the deal. Lastly, Prashanth also weighs in on one of the more prevalent BP questions in the Chicago forum - how to address nonconforming and illegal units for investment purposes, and the new Chicago ADU guidelines which may be a huge win for property owners. If you find this episode useful, leave a comment and refer us to a friend! ----------------- Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Prashanth Mahakali from PMPC Link: https://www.sizzlehomestaging.com/ Link: https://daslawltd.com/ Link: Chicago Residential Architects | Get Free Consultation | Award Winning Licensed Architect Link: Self-Certification Permit Program Link: ADU Ordinance Ready for City Council Scrutiny in Chicago Link: Chicago Cityscape - Find construction activity in Chicago Link: Tim Ferriss Link: Easy Permit Program Email: jfugman@gmail.com ----------------- Landlord tip of the week 2:25 Guest Questions Guest Intro. 5:15 How did your work take you to the south and west sides? 7:30 What does it take to get fast permits in Chicago? And explain an expedited permit. 10:15 How do you know if a job is qualified to be self certified? 12:40 In the city of Chicago, what is an easy permit? 14:45 How do we know when an architect would or would not be needed? 16:00 How do you interact with investors and contractors to be a value add? 17:45 Can you explain the legality of nonconforming units for house hacking and the like? 21:20 What are some things people should be aware of related to nonconforming units? 28:20 What is a permit expediter? 36:40 Wrap Up Questions What has been your competitive advantage? 38:25 What is one piece of advice you'd tell a new investor? 40:09 What do you do for fun? 42:20 Can you recommend a self development tool? 45:00 Can you name a local network recommendation? 46:00 That's our show! Thanks for listening! ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2020.

After selling a successful logistics company, and actively investing in real estate, Jake Fugman has carved a niche as a high-performing investor-friendly agent. In this episode, Jake provides a ton of market knowledge and deep insights into many desirable and upcoming Chicago neighborhoods, including Hermosa, Belmont Gardens, Portage Park, Marshall Square, Pilsen, Little Village, along with several southern suburbs where his investors find success. Jake walks through the pros/cons of house-hacking in each area and also provides valuable NUGGETS in regards to underwriting and expectations. If you are looking to house-hack, invest in small-multis in the city, or SFH in the South Suburbs, this episode will not disappoint. If you like this content, please subscribe, write a review, and share with a friend who would also find value. Also, don't forget to check out our show sponsor https://www.sizzlehomestaging.com/, especially if you plan to flip in the near future. ----------------- Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Jake Fugman from On West Properties Link: https://www.sizzlehomestaging.com/ Link: https://www.foundmyfitness.com/ Link: https://www.successmortgagepartners.com/zachary-karp/ Email: jfugman@gmail.com ----------------- Landlord tip of the week 3:00 Guest Questions Guest Intro. 6:40 Give us an example of a typical entry level buyer profile. 9:55 If someone has 50K, where would you direct them? 11:35 What are some expectations you help establish with clients on house hacking? 13:20 What are some neighborhoods you really like? 15:30 Are you seeing opportunities in the south suburbs? 24:10 What do investors need to look for in a realtor? 31:28 Can you dive into Marshall Square? 35:25 Wrap Up Questions What is your competitive advantage? 38:00 What is one piece of advice you'd give a new investor? 40:55 What do you do for fun? 42:17 What is a good self development tool you've been using? 42:57 Can you name one person in your local network you'd recommend? 44:04 How can we learn more about you? 45:00 That's our show! Thanks for listening! ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2020.

Last week we got into the top ten mistakes borrowers make with Renovo Financial. This week, Eric Workman continues counting down the top 10 with numbers 5 all the way down to #1. Eric has a long background in real estate with experience in construction, brokering deals, flipping houses, etc. When Brandon Moulton, our guest from the previous episode, tried to get Eric to do his financing with Renovo as a client, he ultimately ended up with a job. Eric breaks down the second half of our top 10 mistakes borrowers make when getting financing. Listen to us discuss how each mistake is fixable and avoidable with the right proactive measures. If you found value in this episode, please leave us a comment and share us with someone in your circle! ----------------- Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Eric Workman from Renovo Financial Link: https://www.biggerpockets.com/member-blogs/12409/88233-newbies-heres-how-to-account-for-all-costs-of-a-flip Link: https://www.renovofinancial.com/team/ Link: https://www.jordanbpeterson.com/ Link: https://www.atproperties.com/agents/lucasblahnik ----------------- Landlord tip of the week 3:31 Guest Questions Guest Intro: 6:45 Mistake #5 11:35 Mistake #4 19:00 Mistake #3 25:10 Mistake #2 29:20 Mistake #1 35:00 Wrap Up Questions What is your competitive advantage? 45:15 What is one piece of advice you would give a new investor? 46:00 What do you do for fun? 47:05 What is a good self development activity you would recommend? 47:49 Name one person in your local network you'd name as a quality resource. 48:40 That's our show! Thank you so much for listening! ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2020.

You've heard their name tossed around on earlier episodes, and now we have Renovo Financial here to address some of the biggest mistakes they see when dealing with Chicagoland investors. Brandon Moulton is the Senior VP of Lending at Renovo Financial and has been featured on Crain's Chicago People on the Move. Brandon takes on Part 1 of the top ten mistakes Renovo sees in their day to day interactions with investors throughout Chicagoland. The best part of this episode? We discuss how each mistake is fixable and avoidable with the right proactive measures. If you found value in this episode, please leave us a comment and share us with someone in your circle! ----------------- Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Brandon Moulton from Renovo Financial Link: http://toddduncan.com/ Link: https://www.tonyrobbins.com/ ----------------- Landlord tip of the week 1:30 Guest Questions Guest Intro: 3:50 Renovo's role with Chicago investors ? 4:45 Mistake #10. 6:30 Mistake #9. 10:20 Mistake #8. 14:40 What would you say to a new borrower who hasn't done a deal yet but has a business plan? 17:15 Are there certain areas where you are unable to make loans on? 18:15 Mistake #7. 19:20 What are some ways Renovo helps to ensure that I'm not making a bad deal? 21:20 Mistake #6. 29:03 Wrap Up Questions What is your competitive advantage? 35:50 What is one piece of advice for a new investor? 37:30 What do you do for fun? 38:31 What is a good self development tool you would recommend? 39:13 Name one person in your local network you'd recommend as a resource? 40:05 How can we reach out to you? 41:05 That's our show, thanks so much for listening! ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2020.

Local real estate and commercial litigator, Bibek Das, has spent the last 20+ years educating and protecting Chicagoland investors and landlords. In this episode, Bibek drops a ton of knowledge (and NUGGETS!) to ensure you are running your real estate business appropriately. This includes an overview of Chicago's Residential and Landlord Tenant Ordinance (RLTO) (and what to know if you are a househacker), how to properly maintain security deposits, the difference between investing in an LLC vs your personal name, the lengthy eviction process of eviction in Cook County and the appropriate steps you must take as an investor, and the best way to handle cash for keys situations. If you found value in our episode please take 10 seconds to provide a 5 star review and share with a friend who would also find value in this content. ----------------- Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Bibek Das from Das Law Ltd. Residential Landlord and Tenant Ordinance: Residential Landlord and Tenant Ordinance Chicago Bar Association: The Chicago Bar Association: Home Bill Egan: Bill Egan - Vice President of Mortgage Lending Chicago, IL 60654 | Mortgage Loan Expert Bibek's Email: Bdas@daslawltd.com ----------------- Landlord tip of the week 3:55 Guest Questions What are some pitfalls landlords get into in Chicago? 8:35 Can you talk about some of the rules of security deposits in Chicago? 11:50 What are the pros/cons of a LLC vs investing in your name? 19:45 What are necessary steps to take when eviction is needed? 31:00 What is "cash for keys?" 36:50 Wrap Up Questions What is your competitive advantage? 44:20 What is one piece of advice you have for a new investor in Chicago? 46:30 What do you do for fun? 48:27 What is a good self development product you recommend? 49:30 Name one person in your network you'd recommend as a resource? 50:27 How can we get in touch with you? 51:25 That's our show! Thank you so much for listening! ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2020.

After a successful career in corporate finance, Eric took his skillset (which he originally honed at THE University of Illinois) and transitioned full-time into real estate. Eric is a co-founder of 33 Realty, a vertically integrated company that has the ability to takes its clients through the entire lifecycle of a real estate investment. In this episode Eric discusses the Northside neighborhoods he invests in as well as other neighborhoods to keep an eye on it. Eric also breaks down receiverships, how he got involved with them with no prior knowledge, and how they might become relevant again. If you found value out of today's episode please share with a friend and leave a review! ----------------- Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Eric Weber from the 33 Realty: Your Chicago Real Estate Agency Flanagan and Bilton Tax: Property Tax Consultants & Lawyers Sarnoff Tax: Sarnoff & Baccash: Property Tax Law in Chicago, IL Book: Can't Hurt Me: Master Your Mind and Defy the Odds CRE Mortgage Broker: Christopher Charboneau, Commercial Real Estate Banker ----------------- Landlord tip of the week 3:35 Guest Questions Guest Intro 5:08 How did you get into receiverships? 7:30 How much has your background in accounting and finance impacted your work? 12:30 Can you talk about areas where you are active with receiverships? 13:40 What were you looking for on the Northside? 14:50 How do you underwrite deals on the Northside given the price? 15:35 Do you think there's opportunity still in the Northside neighborhoods? 19:50 What are some common mistakes you see new investors or out of state investor?21:20 How are you determining ARV on small Multi-family properties? 23:50 What are some good practices when looking for a construction company? 25:30 What neighborhoods do you see gentrifying? 30:50 Wrap Up Questions What is your competitive advantage? 35:07 What's one piece of advice you'd give to someone? 36:55 What do you do for fun? 37:55 What is a good self development activity you would recommend? 38:45 Can you recommend a local network recommendation? 39:45 Contact info? 40:40 That's our show, thanks so much for listening! ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2020.

John Casmon is a successful Chicago househacker turned syndicator and the founder of Casmon Capital Group. In addition, John hosts the Target Market Insights Podcast, heads up the Chicago Multifamily Club Meetup, and is the co-creator of the Midwest RE Networking Summit (coming up on 7/25-7/26). In this episode, John provides a wealth of knowledge, including his experience investing in Chicago, tangible steps on how to analyze market rents, and the benefits of passive and active investing. If you found today's episode useful, share it with a friend and leave us a rating and review! Don't forget, the Midwest Real Estate Networking Summit is right around the corner so don't miss your chance to sign up. ----------------- Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: John Casmon from the Casmon Capital Meetup: Chicago Multifamily Club (Chicago, IL) Target Market Insights: Target Market Insights Podcast | Multifamily Tips | Marketing Tips Atomic Habits: Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones Mindset: Mindset: The New Psychology of Success: Dweck, Carol S.: 9780345472328 Brie Schmidt: http://www.secondcity-re.com/agent/brie/ Midwest Real Estate Networking Summit: http://www.midwestresummit.com/ ----------------- Landlord Tip 4:45 Guest Questions Can you give me a 101 of apartment syndication? 8:30 Can you go straight into syndication without starting smaller? 10:00 How did you get started? 13:10 What strategies outside of house hacking is Chicago great for? 15:10 What's your opinion on flipping on the northside of Chicago? 22:30 How long has the Chicago Multifamily Meetup been going on? 25:30 Is there a common hurdle you see amongst new investors? 29:35 How did you overcome some of the issues with self management? 33:30 Wrap up questions What is your competitive advantage? 43:25 What is one piece of advice you'd give a new investor? 44:10 What do you do for fun? 45:15 What is a good self development product you've been using? 46:05 Who can you recommend in your local network as a resource? 48:40 That's our show! Thanks so much for listening! ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2020.

One doesn't accomplish $600,000,000 in real estate transactions without thoroughly understanding the ins and outs of the business and which neighborhoods are primed for sound investments. Our guest today, Brian Kochendorfer, has a ton of nuggets to drop from his experience as a broker, passive investor, and managing member of Arc Equity Group, where he is a general and limited partner of $60M in real estate holding spread across 800+ units. Brian was born and raised in the Southwest Suburbs and provides tremendous local insights to popular areas such as Tinley Park and Oak Lawn - including the 95th ave corridor, what to look out for in the common 1960s-built properties, and to how to prepare for tax increases. We also take a deep dive into his recent South Shore acquisition and discuss what attracted him to this new deal outside of his typical geographical pocket. Brian's the founder of the Chicago Chapter of the MultiFamily Masters meetup which is a great event (and it's free!), so check please check it out. Have a listen and if you find value in today's episode, hit that subscribe button and leave us that 5 STAR REVIEW. ----------------- Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Brian Kochendorfer from the Essex Realty Group Arc Equity Group – Multifamily Real Estate Investment Professionals: https://arcequitygroup.com/ Multi Family Masters: https://multifamilymasters.com/ Meetup Link: MultiFamily Masters | Meetup Pro Network Recommendation: Doug Imber Rich Dad Poor Dad: Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! How to Win Friends and Influence People: https://www.amazon.com/How-Win-Friends-Influence-People/dp/0671027034 ----------------- Landlord tip. 4:30 Guest intro. 6:00 Guest Questions What are you currently focusing on? 6:40 What attracted you to your South Shore deal? 7:35 What's the attraction of the south and southwest suburbs? 11:20 How has the area changed over your career and what's driving development? 12:15 What are some common issues people should look out for in old houses? 14:00 What are nuances an investor should know about rental laws and expectations? 15:20 How did you jump from broker to investor? 18:40 How did you scale to 60MM? 20:45 How did you build partnerships when going into active investing? 22:50 What's your process for raising capital? 24:30 Tell us about your multifamily networking group? 27:02 What should new investors know about MFH investing? 30:00 Wrap up questions What is your competitive advantage? 31:40 What is one piece of advice you'd give someone? 32:25 What do you do for fun? 32:53 What is a good self development activity you'd recommend? 33:20 Who is one person you'd recommend from your local network? 34:10 How can we learn more about you? 34:45 ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2020.