Straight Up Chicago Investor

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.

There's a reason Ben Walhood has already been a featured guest on numerous high-profile podcasts, including Bigger Pockets, The Best Ever Real Estate Podcast with Joe Fairless, Target Market Insights with John Casmon, and has been interviewed by CNBC and The Chicago Tribune. Over the last decade, Ben has consistently grown his portfolio in Dupage County by expanding his network and buying the best property available to him at the given time. Like many investors, there were initial painful experiences, and we discuss how these experiences became the foundation for Ben's success, and eventually allowed him to leave his well-paying job as a neurosurgery sales rep. Ben's story is a great example of how to continually evolve your approach while remaining disciplined to long-term results. Take a listen as Ben provides granular advice on networking, adjusting your strategy, and of course, how to succeed in the different Suburbs of Dupage County. Ben is also the previous president of Chicago Area REIA, which is linked if you're interested (check it out, for real). If you found this valuable, please subscribe to our channel for all our updates and find us on Facebook! ----------------- Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Ben Walhood of Apex Landlord Services First National Bank of Brookfield: https://www.fnbb.com/ Chicago Area Real Estate Investment Association: https://www.careia.org/ Rich Dad Poor Dad: https://www.amazon.com/Rich-Dad-Poor-Teach-Middle/dp/1612680194 ClickInvest: https://www.clickinvest.com/ ----------------- Landlord Tip 4:30 Guest Intro 6:20 Guest Questions Accounting for property value when comparing brick vs frame 3:14 What types of deals are you focusing on today? 7:25 How has DuPage County changed since 2012? 10:00 What was the acquisition strategy for bolingbrook? 11:40 When you're relying on third parties for deal finding, how do you keep consistent? 14:18 Tell me about DuPage County and what you like about it? 16:55 What's the housing stock like in the western suburbs? 19:50 How has your financing strategy evolved over time? 24:25 Are there any banks in the western suburbs that you'd recommend to investors? 26:10 What are some nuances between suburbs you invest in? 27:00 What turning point in your career gave you the confidence to go full time REI? 31:05 Where there any big mistakes you made early on in your career? 33:10 How did you get involved in the Chicago Area Real Estate Investment Association? 36:00 Wrap up questions What's your competitive advantage? 38:00 Can you give one piece of advice to a new investor? 38:59 What do you do for fun? 39:45 What's a good self development product you're using? 40:00 Name one person in your local network you'd recommend to investors to utilize. 40:50 How can people learn more about you? 41:23 ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2020.

With 20 years in the business, Joe Mueller got his start buying REO (bank owned) properties at auctions. From there, Joe networked extensively to develop a robust acquisitions strategy and eventually implement multiple streams of income. Most recently, Joe started a title company suited for investors who wanted to transact in off market property without a broker. Joe shares remarkably deep insights on how to successfully buy properties in the far northwest burbs, especially in McHenry and Kane County, and provides excellent advise that investors can use all over Chicagoland. If you find this podcast helpful, please leave us a review and share us with a friend! ----------------- Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Joe Mueller of TANIS Group Realty Joe's Title Company: https://investorstitleservicesllc.com/ Tom's Tax attorney: https://www.ksnlaw.com/timothy-c.-jacobs Mark's Tax attorney: https://railapc.com/ Podcast Recommendation: ‎Real Estate Disruptors on Apple Podcasts Book Recommendation: Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine Monthly Meetup: https://www.meetup.com/investor-empowerment-chicago/ Join the Wholesale List: http://www.reinvestsells.com ----------------- Landlord tip from Mark 2:50 Guest intro 5:00 Guest Questions Why does it take 2 hours at closing with the title company and how does your company address this? 9:10 Why should you have an attorney when you're closing on a property? 12:00 What types of properties are you invested in? 13:40 What does an attractive deal look like to you? 15:55 How do you take rental license requirements and inspections into account when analyzing a property? 19:50 How are you using freedom of information act (FOIA) reports to your advantage? 23:15 Are there specific pockets where you're finding more deals than others? 25:10 Do you have competition with the newer homes in the areas vs your renovated homes? 27:15 How does investing in Kane vs McHenry county differ? 28:20 How are you financing the acquisition of your properties? 30:15 Have there been any people who have come into your life over the past 20 years that have been true game changers? 35:00 What are your top priorities for right now and going forward? 38:12 What experiences from 2008 have you reflected on during the current Covid crisis? 40:15 Wrap up questions What's your competitive advantage? 42:00 What is one piece of advice you'd give to someone? 43:40 What do you do for fun? 45:16 What's a good self development activity you'd recommend? 45:55 Do you have someone you'd recommend in your local network as a quality resource? 47:40 How can you be reached? 48:15 Thanks for listening! Keep learning, stay hungry, and we'll see you next time. ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2020.

Investor and property manager Jared Kott lives and breathes the Southeast neighborhoods of Chicago. After leaving corporate America in 2013, Jared enrolled in a property management class the following Monday to get his feet wet doing whatever takes. This experience was the springboard that lead to Jared owning over 100 properties, predominately in the Southeast. Jared gives detailed descriptions on several Southside neighborhoods and covers topics ranging from key differentiators in neighborhoods, to screening tenants, managing vacancies, and planning for the unexpected water bill. If you enjoyed our guest today, please subscribe and share us with a friend! ----------------- Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Jared Kott of Marblestone Property Group Chicago Housing Authority: https://www.thecha.org/landlords/property-rental-assistance-program Community Investment Corp.: http://www.cicchicago.com/ Cook County Land Bank: http://www.cookcountylandbank.org/ Podcast recommendation: https://andyfrisella.com/blogs/mfceo-project-podcast Book Recommendation: https://www.amazon.com/Rejection-Proof-Became-Invincible-Through/dp/080414138X Lending referral: https://www.renovofinancial.com/ ----------------- Landlord tip 2:07 Guest Introduction 3:50 Guest Questions How did you start buying properties on the south side? 7:00 Talk about how you get involved with your community. 10:15 What's different about south chicago than other areas? 11:05 What percent of your portfolio is market rent vs CHA? 13:00 Does the cook county land bank still have opportunities for investors? 18:50 Tell us about the housing stock in your areas. 19:50 What are the taxes like in the Eastside? 24:10 Did you explore other areas while you scaled up? 25:20 What are the differences between underwriting SFH vs MFH? 29:45 What are some misconceptions you've noticed in managing properties on the south side? 33:50 Can you share a lesson you've learned along the way? 35:25 What are some internal checklist items you have for evaluating a deal? 36:20 Where are you finding most of your leads? 37:10 Wrap up questions What's your competitive advantage? 38:00 What's one piece of advice you have for someone who has yet to buy their first property? 38:10 What do you do for fun? 38:25 Any self development products you'd recommend? 38:53 Local network recommendation? 39:40 How can we reach you? 40:20 Thanks for listening! If you found this episode useful, leave us a comment and hit that like button, it helps us out tremendously! ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2020.

Chicagoland is an insanely competitive market, making constant deal flow one of the toughest challenges for investors across the city. As an investor, how successful would you be if you constantly had 80-100 off-market deals calling you each month asking you to make an offer? Through years of hard work, our guest, Blake McCreight, has created that exact infrastructure. Not only has Blake developed a constant funnel of deals, but he's doing so in a way where the prospects are inbound leads reaching out to him. Blake has built a scalable system that allows him to target specific areas around Chicagoland, and double-down on marketing efforts as necessary. If you're serious about lead acquisition, raising private capital, and growing your business in Chicagoland, you won't want to miss Blake's insights. And please make sure to share this episode with other investors looking to increase their deal flow. ----------------- Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Blake McCreight of Express Property Solutions Village of Dolton permit site: https://vodolton.org/business-2/building-permits-inspections-license/ Deal Machine - Driving for Dollars app: https://dealmachine.com/ LendingHome: https://www.lendinghome.com/ Chicago Broker Recommendation: https://frankmontrohomes.com/ Extreme Ownership Book: https://www.amazon.com/Extreme-Ownership-U-S-Navy-SEALs/dp/1250067057 Profit First Book: https://www.amazon.com/Profit-First-Transform-Cash-Eating-Money-Making-ebook/dp/B01HCGYTH4 Business Wars Podcast: https://wondery.com/shows/business-wars/ Blake's Cell - Text first: (847) 212-1029 Blake's network recommendation - Vince Incopero: https://www.reallawgroup.com/vincent-bio ----------------- Landlord tip 3:20 Guest Intro 5:15 Guest Questions What is your business focusing on today? 6:40 What's step 1 for finding off market deals? 11:40 What areas do you like today? And have they changed over time? 14:10 What are some nuances of Dolton that someone needs to be aware of? 18:20 Why do you like the 100-200K property range? 21:15 At what point do you decide what strategy you use on a property? 23:20 Do you think it's worth it for new investors to get their real estate license? 29:50 How do you raise money to execute your strategies? 31:05 Wrap up questions What is your competitive advantage? 3:12 One piece of advice for someone looking to buy their first property in Chicago? 39:14 What do you do for fun? 39:45 What's a good self development tool you've been using? 40:00 Contact info? 42:10 One local network recommendation? 43:10 Thanks for listening! If you found this episode useful, leave us a comment and hit that like button, it helps us out tremendously! ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2020.

Price points can be appealing in the Western Suburbs, especially compared to each areas of the city. However, it's not as simple as looking at rental rates and population statistics; our guest today is uniquely qualified to shed light on all the pros and cons that come along with investing in the numerous Western Suburbs East of 294. John Warren is both an agent and investor and founder of the Chicago West Suburban Real Estate Investor Meet-Up. John knows each of these municipalities better than anyone else out there and explains that two adjacent suburbs can be an apples to oranges comparison if you don't dig deeper than the numbers on a spreadsheet. If you've been on Bigger Pockets forums, you've definitely seen the type of knowledge John doles out on a daily basis and know that he is the real deal. If this market has been on your radar, you'll be sure to want to hear this. Send this to a friend, and if you like what you hear, hit that subscribe button! ----------------- Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: John Warren of Second City Real Estate RE Meetup: https://www.meetup.com/Chicago-West-Suburban-Real-Estate-Investors-Meetup/ Josh Jones - Loan Officer: https://www.loandepot.com/loan-officers/jmjones Podcast Recommendation: https://www.getricheducation.com/podcast/ Miracle Morning: https://www.amazon.com/Miracle-Morning-Not-So-Obvious-Guaranteed-Transform/dp/0979019710 ----------------- Guest intro 6:20 Landlord tip from Mark 2:50 Questions for John Warren: What areas are you spending the most time in? 6:55 What types of opportunities are you seeing in these markets? 8:55 What are the differences between Cicero and Berwyn? 10:25 Are Berwyn and Cicero predominantly city commuters or blue collar? 12:00 Tell me about the areas a little west of Berwyn, are those areas more desirable?16:30 Can you describe the Lyons and Stickney area for us? 20:10 How have these neighborhoods changed over time? 22:20 Can you break down the neighborhood just north of 290? 24:30 What are some key things you talk to someone out of state about when looking to invest? 27:40 What value have you gotten in the Chicago Western Suburbs RE group? 29:15 Has it been beneficial doing virtual meetups since the lockdown started? 30:40 You put a lot of effort into Bigger Pockets, what drives you to provide so much value to that community? 34:00 Wrap up questions: What is your competitive advantage? 36:15 What is one piece of advice you have for an early investor? 36:50 What do you do for fun? 37:25 Self development recommendation? 38:25 What is the miracle morning? 39:00 Network recommendation? 40:45 Thanks for listening! If you found this episode useful, leave us a comment and hit that like button, it helps us out tremendously! ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2020.

So many people working day jobs want to build wealth through real estate but don't know how to get started. Ibn gives great advice on how to leverage the day job as a springboard to grow your real estate business. Ibn not only oversee his own rehabs and self-manage his tenants, but goes the extra mile to understand his community and create win-wins for everyone. And where there wasn't a meet-up for his specific area, he started the South East Chicago Real Estate Club! Ibn dishes out advice on how to find deals, source tradesmen for jobs, and assess risk. If you like what you heard, please hit the subscribe button and leave us a review! ----------------- Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: Ibn Abney of South East Chicago Real Estate Club Chicago Enterprise Zones: https://www.chicago.gov/city/en/depts/dcd/supp_info/enterprise_zone_program.html Enterprise Zone Map: https://data.cityofchicago.org/Community-Economic-Development/Boundaries-Enterprise-Zones/64xf-pyvh South East Chicago Real Estate Club: Facebook: https://www.facebook.com/pg/ChicagoBRRRRTeam/posts/ Book Recommendation - Atomic Habits: https://www.amazon.com/Atomic-Habits-Proven-Build-Break/dp/0735211299 ----------------- Landlording Tip 3:00 Guest Intro 5:10 Guest Questions How has the gentrification you saw in Brooklyn influenced how you invest in Chicago?6:20 What are areas you're currently invested in that you see gentrification occurring? 7:40 What can a TIF district do to benefit you? 11:25 How has your background as a W-2 employee benefitted your real estate career? 13:20 How are you financing your investment properties since you do have a W-2? 14:50 What made you start investing in condos? 16:00 What kind of issues do you run into with HOAs, and how do you address it? 18:25 What processes do you have in place to do all this with a full time job? 20:45 How has the age of buildings influenced what you buy? 23:00 What's different today from a few years ago? 31:25 Wrap up questions What's your competitive advantage? 35:05 What's a piece of advice you'd give someone looking to start? 35:40 What do you do for fun? 36:04 Can you recommend a self development product? 36:25 Local network recommendation? 37:30 How can people reach out? 38:10 Thanks for listening! If you found this episode useful, leave us a comment and hit that like button, it helps us out tremendously! ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2020.