Straight Up Chicago Investor

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.

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.