Straight Up Chicago Investor

In today's episode, our guest Mike Glasser, President of the Neighborhood Builders Owner Alliance, explains how neighborhood housing provider advocacy groups are fighting for fair and lawful protection for investors in and around Chicago. Mike lays out the current advocacy campaign against the proposed CRTLO, the differences between the CRLTO and the RTLO, and the unintended consequences from previous legislation. Lastly, he gives advice on what you can do to help support the fight. Listen in and if you find value in today's episode, please leave us a 5 star review and recommend us with a friend. 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. 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: Mike Glasser of Magellen Properties Link: Neighborhood Building Owners Alliance (NBOA) Link: Chicago Tribune Link: Chicago Sun-Times ----------------- Guest Questions Landlord Tip 6:15 What is the NBOA and the current coalitions in it? 9:10 If I'm a landlord, why should I care about these groups? 11:50 Who are the advocacy groups advocating to? 14:25 What were some of the unintended consequences of the CRLTO? 18:45 If the RTLO passes, what does this mean for property owners? 23:10 Has there been any pushback from individual cook county cities? 28:20 What can investors do to help with the advocacy campaign? 33:15 Do you think rent control will come up again? 34:50 Wrap Up Questions What is your competitive advantage? 39:15 What is one piece of advice you'd give a new investor? 40:05 What do you do for fun? 40:40 What is a good self development activity you'd recommend? 42:00 Who would you recommend as a quality resource? 43:00 How can we learn more about you? 43:30 ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2020.

First and foremost, a huge thank you to all our listeners! Please continue to be active members of our community and help spread the good word! This Thanksgiving, we want to take a quick moment to reflect on all the great things and opportunities we have in this great city of Chicago. A rich history, epic sports franchises, an extensive park network and some of the best food in the world are only the tip of the iceberg. With one of the largest metros in the country, we've been able to build this podcast and develop this network of investors and entrepreneurs. Listen in as we talk about some of the city's highlights and teach each other a bunch of things about our home. Listen in and if you like what you hear, leave us a 5 star review and share us with a friend. 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. 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: Tony Angelos of IRPINO Real Estate Link: Geoffrey Baer Tours Link: Unusual Attractions in Chicago Book: Am I Being Too Subtle?: The Adventures of a Business Maverick by Sam Zell Book: South Side by Natalie Y Moore Link: The City Podcast Episode 1 - Six Stories Book: The Jungle by Upton Sinclair Link: Papa Joe's Pizza ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2020.

Jon Womack of Third City Properties has been investing in the Chicago market for four years focusing on the northwest neighborhoods of Belmont Cragin and North Austin. Jon dives into what the investment landscape looks like in these areas, including tenant expectations of finishes and his general investment strategies. One of the key differentiators for Jon is his involvement in local neighborhood coalitions. Jon heads up the Northwest Side Building Coalition and is also an active member of the NBOA. Jon lays out several Chicago neighborhood coalitions that you can participate in to help move your neighborhood forward. Listen in and if you like what you hear, leave us a 5 star review and share us with a friend. 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. 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: Jon Womack of Third City Properties Link: Northwest Side Housing Center Link: AAABNA | The Austin African American Business Networking Association Inc. | Chicago IL Link: HOME | Nonviolence Chicago Link: Uptown United: Home Link: Rogers Park Builders Group Link: Northwest Side Building Coalition Link: Know Your Rights: Fair Notice Ordinance Link: Home - Drexel Properties LLC Link: Jeff Weinberg on LinkedIn Link: The Wilcox Company Link: Joseph J. Wilcox - Chicago, IL Real Estate Agent | realtor.com® Link: Neighborhood Building Owner's Alliance – A Voice for Chicago's Building Owners ----------------- Guest Questions Landlord tip of the week 2:25 Guest Intro 6:00 What neighborhoods are you focused on in Chicago? 7:50 Why Belmont Cragin 8:50 What's different in Belmont Cragin since when you started in 2016? 10:45 What's the housing stock like in Belmont Cragin? 12:45 What are tenant expectations on finishes in this area? 14:25 What's your strategy in the Belmont Cragin area and what should a prospective investor be looking out for? 16:00 How do you do the financing on a place that is gradually renovated? 17:30 How do rental rates change as you move across the Belmont area? 19:15 What opportunities do you see in North Austin? 21:00 Can you walk us through the community groups you're involved with? 28:40 What drove you to be so involved in the community? 33:20 Wrap Up Questions What's your competitive advantage? 36:30 What is one piece of advice you'd give a new investor in Chicago? 37:08 What do you do for fun? 38:00 What's a good self development activity you'd recommend? 38:15 Who would you recommend as a quality resource? 38:35 How can we learn more about you? 39:20 That's our show! Thanks for listening! ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2020.

With the right mindset, anything can be achieved. Shantanu Kamra is living proof, having moved to the US 8 years ago and Chicagoland just about 2 years ago, he's been able to scale his portfolio in the western suburbs to over 40 units. In today's episode he talks about househacking, BRRRR strategy execution, and scaling into larger buildings. He also gives advice on why coaching has worked for him while so many others do nothing with the information from a mentor. Shantanu breaks down certain suburbs like Bellwood, Franklin Park and Maywood and dives into the concept of pocket investing. Also, to get a free white paper on "Advantages of Private Lending for Multi-family Deals", email Shan at chicagoapartmentinvestor@gmail.com. His cellphone is: (847) 644-0262. 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: Shantanu Kamra of Homesmart Link: Chicago REIA Link: Lawyer Georgina Diaz - Berwyn, IL Attorney Link: Drew Stiegemeier | Loan Specialist ----------------- Guest Questions Landlord Tip of the Day 3:18 Guest Intro 5:30 When did you decide to get into real estate? 7:05 What was the backstory behind the first house hack? 8:00 How did you decide on Elmwood park for your househack? 9:15 What was the next step after the first house hack? 10:30 How did you allocate time to identify properties that had signs of distress? 14:50 How much time would you spend nurturing prospects after you've had your first conversation? 16:00 How did you finance your deals? 19:07 When did you get involved in the MFH that are larger than 4 units? 22:50 What are some experiences you learned from your first 6 unit building? 24:10 What are some of the things you like about Bellwood and Northlake? 26:30 How do you maintain discipline when looking at investments? 32:20 How do you run your numbers and get to your cashflow number? 35:00 Why did you get involved in coaching programs and why did you succeed when so many failed? 36:25 Wrap Up Questions What is your competitive advantage? 38:00 What is one piece of advice you'd give a new investor? 38:50 What do you do for fun? 40:45 What's a good self development activity you'd recommend? 41:10 Who is one person in your local network you'd recommend as a resource? 41:46 How can we learn more about you? 42:20 ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2020.

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.