Straight Up Chicago Investor

Latest Episodes:

Episode 174: What Every Real Estate Investor Needs to Know About Appliances with Local Chicago Vendor Kevin Krasney Oct 20, 2022

Show notes

Kevin Krasney is the third-generation owner of Cole's Appliances, which is still situated on the same Lincoln Ave corner in North Center.

Kevin talks about his family-owned and operated business and how Cole's provides tremendous value to investors. He walks through the appliance ordering and installation process and how the recent supply chain issues played into this process. Kevin gets granular on different manufacturers and the quality of their products. Throughout the episode, Kevin shares insight on things investors should keep in mind when purchasing appliances to ensure they're delivered/installed on schedule, and to ensure investors are buying the best product for their need!

If you enjoy today's episode, please leave us a review and share with someone who may also find value in this content!

Connect with Mark and Tom: StraightUpChicagoInvestor.com

Email the Show: StraightUpChicagoInvestor@gmail.com

Guest: Kevin Krasney, Cole's Appliance and Furniture Co

Link: All In Podcast

Link: Broken Record Podcast

Link: Matt Kustusch (Network Recommendation)

Link: Chop Shop

Sponsors: Essex Realty Group and State Farm

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Guest Questions

02:11 Housing Provider Tip: Celebrate the wins and enjoy the journey of building your real estate portfolio!

04:48 Intro to our guest, Kevin Krasney!

06:26 Kevin talks about the mindset of keeping the family appliance business small rather than opening more stores!

07:30 How has the supply chain changed over the last couple years?

13:00 Kevin discusses the workflow from appliance ordering to installation!

17:12 Who are the major manufacturers and how does their quality compare to each other?

18:32 What are some things investors can do to minimize appliance repairs?

22:48 Kevin gives a checklist for things required to install a kitchen appliance package.

25:44 How do you determine whether to repair or replace an appliance?

30:06 What are Kevin's thoughts on coin-operated vs electronic payment laundry machines?

33:32 What is Kevin's outlook on the appliance industry?

36:34 How can one determine the fuel source on an appliance?

Wrap Up Questions

41:10 What is Kevin's competitive advantage?

41:50 One piece of advice for new investors.

43:11 What do you do for fun?

44:00 Good book, podcast, or self-development activity that you would recommend?

44:20 Local Network Recommendation?

45:03 How can the listeners learn more about you and provide value to you?

That's our show! Thanks for listening!

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Production House: Flint Stone Media

Episode 173: What Investors Need to Know to Obtain Commercial Financing in the Upcoming 6-12 Months Oct 18, 2022

Show notes

What are lenders taking a harder look at in this market?

Connect with Mark and Tom: StraightUpChicagoInvestor.com

Email the Show: StraightUpChicagoInvestor@gmail.com

Guest: Eric Workman, Renovo Financial

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Production House: Flint Stone Media

Episode 172: The Ins & Outs of Chicago's North Lawndale Neighborhood with Robert Waz Oct 13, 2022

Show notes

Robert Waz of Exterplexy Real Estate & Management joins us to discuss the ins and outs of investing in the North Lawndale neighborhood.

Robert kicks things off by explaining why he started investing in North Lawndale. He dives into unforeseen challenges and underwriting considerations to ensure investors accurately account for all expenses and. Robert goes deep into the neighborhood, including its boundaries, different pockets, the building stock, and planned developments in North Lawndale. Throughout the episode, Robert emphasizes the importance of being hands on with property management as a key to success in this neighborhood!

If you enjoy today's episode, please leave us a review and share with someone who may also find value in this content!

Connect with Mark and Tom: StraightUpChicagoInvestor.com

Email the Show: StraightUpChicagoInvestor@gmail.com

Guest: Robert Waz, Exterplexy Real Estate & Management

Link: The City Podcast (North Lawndale Episodes)

Link: Basic Economics (Book Recommendation)

Link: SUCI Ep 45 - Jack Crane with CIC

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Guest Questions

02:30 Housing Provider Tip: Be sure that your property's exterior is sealed to prevent animals from getting in!

04:22 Intro to our guest, Robert Waz!

05:26 Why did Robert choose to start investing in North Lawndale?

06:31 Robert talks about his first property in North Lawndale!

08:20 What were some unforeseen challenges of investing in North Lawndale?

12:57 What was the timeframe of Robert's first renovation project?

16:04 Robert talks about underestimating expenses in C/D class neighborhoods!

20:19 Robert talks about North Lawndale's boundaries, building stock, and more neighborhood characteristics!

27:19 What are some ballpark numbers for rental properties in this area?

29:33 Robert discusses CHA vs Market rate tenants.

33:37 What are some developments going on in North Lawndale?

38:49 What do the next 2-3 years look like for Robert and his team?

Wrap Up Questions

43:22 What is Robert's competitive advantage?

43:51 One piece of advice for new investors.

44:35 What do you do for fun?

45:52 Good book, podcast, or self development activity that you would recommend?

46:49 Local Network Recommendation?

48:10 How can the listeners learn more about you and provide value to you?

That's our show! Thanks for listening!

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Production House: Flint Stone Media

Episode 171: From the East Side to the West Side, Sonia Del Real Explains the Genesis of the Latino Real Estate Investors' Council Oct 06, 2022

Show notes

Sonia Del Real of Third City Consulting and LREIC join us to discuss her involvement with Chicago Housing Provider Advocacy groups and how investors from all ethnicities can benefit from this group.

Sonia shares her background as a second-generation immigrant and a Chicago native along with her investing journey prior to the housing crash. She speaks to her transition into education and advocacy for Latino Housing Providers. Sonia provides information regarding LREIC (Latino Real Estate Investors Council), their mission statement, and the benefits of being a member. She closes with strong words on the importance of getting involved with advocacy groups and being around like-minded, experienced individuals that can propel you and your portfolio to the next level!

If you enjoy today's episode, please leave us a review and share with someone who may also find value in this content!

Connect with Mark and Tom: StraightUpChicagoInvestor.com

Email the Show: StraightUpChicagoInvestor@gmail.com

Guest: Sonia Del Real, Third City Consulting and Latino Real Estate Investors Council

Link: LREIC Website

Link: SUCI Ep 37 - Mike Glasser

Link: Cashflow Quadrant (Book Recommendation)

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Guest Questions

02:52 Housing Provider Tip: Make sure you clean your gutters this fall season!

04:44 Intro to our guest, Sonia Del Rey!

05:47 Sonia talks about growing up in Chicago as a second-generation immigrant.

10:46 What is CAPS?

13:37 Sonia talks about her investing journey prior to the housing crash!

18:05 What was Sonia's main motivation for getting into education?

25:23 What is LREIC (Latino Real Estate Investors Council)?

27:47 What are the benefits of being a member of LREIC?

31:46 Sonia provides advice for anyone trying to start an advocacy group!

Wrap Up Questions

40:54 What is Sonia's competitive advantage?

42:11 One piece of advice for new investors.

42:50 What do you do for fun?

43:26 Good book, podcast, or self-development activity that you would recommend?

44:04 Local Network Recommendation?

45:46 How can the listeners learn more about you and provide value to you?

That's our show! Thanks for listening!

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Production House: Flint Stone Media

Episode 170: What Does Commercial Lending Look Like in the Foreseeable Future? Oct 04, 2022

Show notes

How does the recent rate hikes affect investors' ability to borrow moving forward?

Connect with Mark and Tom: StraightUpChicagoInvestor.com

Email the Show: StraightUpChicagoInvestor@gmail.com

Guest: Eric Workman, Renovo Financial

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Production House: Flint Stone Media

Episode 169: How To Leverage Chicago's Transit-Oriented Development Incentives with Chicago Cityscape Sep 29, 2022

Show notes

Return guests Casey Smagala and Steven Vance of Chicago Cityscape join us to discuss the revised Transit-Oriented Development (TOD) ordinance and other development trends in Chicago!

Casey and Steven start off by explaining the TOD ordinance and the changes resulting from the recent revision. They dive deep on the impacted neighborhoods, zoning districts, and provisions of the ordinance. Casey and Steven showcase their urban planning backgrounds by weighing in on the impact of current city policies and how they would improve those policies. Lastly, they share why Cityscape is such a powerful data-aggregation software and how it can give Chicago Investors a tremendous competitive advantage!

If you enjoy today's episode, please leave us a review and share with someone who may also find value in this content!

Connect with Mark and Tom: StraightUpChicagoInvestor.com

Email the Show: StraightUpChicagoInvestor@gmail.com

Guest: Casey Smagala and Steven Vance, Chicago Cityscape

Link: SUCI Ep 97 - Samuel Pavlovcik

Link: SUCI 112 - Cityscape (1st Episode)

Link: SUCI Ep 59 - Cost-Seg Kev

Link: The New Localism (Book Recommendation)

Link: UCLA Housing Voices Podcast

Sponsors: Essex Realty Group and Appeal.tax

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Guest Questions

03:18 Housing Provider Tip: Use online services by Utility providers to expedite requests!

06:14 Intro to our guests, Steven Vance and Casey from Chicago Cityscape!

07:00 What is the TOD ordinance?

10:26 Who can benefit from the revised TOD ordinance?

13:22 Steven and Vance talk about accessible dwelling units!

16:34 Are there de-conversation limitations within the revised TOD ordinance?

18:52 Steven and Vance talk about neighborhoods most impacted by the ordinance!

26:31 How does the ordinance affect parking requirements?

31:53 How do City policies attempt to control density?

38:00 What policy changes can investors expect in the near future?

39:50 How does the City measure the success of their new policies?

Wrap Up Questions

43:12 What is Casey's and Steven's competitive advantage?

43:58 One piece of advice for new investors.

48:22 What do you do for fun?

49:18 Good book, podcast, or self development activity that you would recommend?

51:24 Local Network Recommendation?

54:21 How can the listeners learn more about you and provide value to you?

That's our show! Thanks for listening!

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Production House: Flint Stone Media

Episode 168: Breaking Down Bridgeport Block by Block with Ada Li Sep 22, 2022

Show notes

Ada Li is a Chicago-based Developer with over 20 years of experience. Ada shares her experience with her family's construction business, which includes dealing with Chicago Inspectors, zoning changes, and other lessons learned over the years. Ada dives deep into Bridgeport by sharing insight on the different pockets of the neighborhood, how values vary across those areas, and her long-term outlook of the neighborhood. Ada closes this knowledge packed show by providing her take on McKinley Park and Brighton Park!

If you enjoy today's episode, please leave us a review and share with someone who may also find value in this content!

Connect with Mark and Tom: StraightUpChicagoInvestor.com

Email the Show: StraightUpChicagoInvestor@gmail.com

Guest: Ada Li, Winner Construction and Hardscrabble Investments

Link: Who Not How (Book Recommendation)

Link: SUCI Ep 43 - RJ and Nicky (Network Recommendation)

Link: InvestHER Meetup

Sponsors: GC Reality and Appeal.tax

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Guest Questions

02:22 House Provider Tip: Be aware of the new Illinois law requiring 10-year smoke detectors!

04:16 Intro to our guest, Ada Li!

08:10 Ada talks about working in the family construction business and the dynamics associated with that.

10:10 How did the business scale?

13:48 How can an investor back into a purchase price?

17:09 Ada shares some lessons learned over the years in construction!

25:48 Why did Ada and her family decide to invest in Bridgeport?

28:33 Ada talks about meeting Aldermen when needing Zoning changes!

30:38 What are Ada's favorite pockets of Bridgeport?

33:02 Ada talks about pricing differences within the different pockets of Bridgeport!

36:35 What is Ada's outlook on Bridgeport?

37:58 What does Ada think about McKinley Park and Brighton Park?

40:03 Ada talks about land value in Bridgeport.

Wrap Up Questions

41:23 What is Ada's competitive advantage?

41:58 One piece of advice for new investors.

42:27 What do you do for fun?

43:08 Good book, podcast, or self development activity that you would recommend?

44:11 Local Network Recommendation?

44:50 How can the listeners learn more about you and provide value to you?

That's our show! Thanks for listening!

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Production House: Flint Stone Media

Episode 167: When Should I Lock My Interest Rate, and What Are The Different Rate Lock Options? Sep 20, 2022

Show notes

When should I lock in my mortgage rate in a volatile market, and what is a float-down option?

Connect with Mark and Tom: StraightUpChicagoInvestor.com

Email the Show: StraightUpChicagoInvestor@gmail.com

Guest: Perry Farella, Prime Lending | SUCI Episode 67

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Production House: Flint Stone Media

Episode 166: BiggerPockets J Scott Breaks Down the Economy, Our Debt Crisis, and the Real Estate Market Cycle Sep 15, 2022

Show notes

Entrepreneur, investor, and best-selling author J Scott of BiggerPockets and Bar Down Investments joins SUCI and drops tremendous wisdom! J shares the mindset and adaptability required to become a successful real estate investor. He draws on his past experience to break down the economic climate by speaking to various topics including inflation, stagflation, the debt crisis, consumer behavior, and the job market. J closes with insight on properly underwriting deals and emphasizes the power of buy-and-hold rental properties as a wealth building tool!

If you enjoy today's episode and like what you hear, 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: J Scott from BiggerPockets and Bar Down Investments

Link: The Goal (Book Recommendation)

Link: Ashley Wilson (Network Recommendation)

Link: Real Estate by the Numbers (Pre-Order J Scott's New Book)

Link: Connect with J Scott

Sponsors: Essex Realty Group and Appeal.tax

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Guest Questions

03:21 House Provider Tip: Understand that bull markets may cover up mistakes that wouldn't be covered in bear markets!

04:39 Intro to our guest, J Scott!

05:31 J talks about the mindset required to be successful in real estate!

12:41 J defines stagflation and talks about its relation to the debt crisis?

21:02 How does J predict lending will change in the near future?

27:19 Does J think that the expected recession can be a self-fulfilling prophecy as consumers get fearful and change their behavior?

30:52 What is J's outlook on the job market?

36:32 Is J still looking for real estate deals and how has his underwriting changed?

40:41 How can passive investors effectively vet an operator?

44:50 J shares mistakes he's made in his investing career!

49:01 J talks about accounting for expense increases when underwriting deals

Wrap Up Questions

50:33 What is J's competitive advantage?

50:59 One piece of advice for new investors.

51:51 What do you do for fun?

52:33 Good book, podcast, or self development activity that you would recommend?

53:34 Local Network Recommendation?

54:29 How can the listeners learn more about you and provide value to you?

That's our show! Thanks for listening!

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Production House: Flint Stone Media

Episode 165: From Chicago Househacker, to Out of State Investor, to Leaving Her W2 Job with Kory Dieter Sep 08, 2022

Show notes

Kory Dieter is a Chicago-based is a house hacker and professional out of state investor with a portfolio mix that includes SFRs and small multi-families across 5 markets. In today's episode Kory shares with us how she started her real estate journey with a house hack in Andersonville to how she was able to leave behind her W2 job. Along the way she's dabbled in a variety of investing strategies, including house hacking, medium term rentals, BRRRR, and 1031 exchanges, with no signs of stopping now!

This episode is full of nuggets on deal acquisition and things to keep in mind when looking for your next investment, whether it's in Chicago or a different market!

If you enjoy today's episode, please leave us a review and share with someone who may also find value in this content!

Connect with Mark and Tom: StraightUpChicagoInvestor.com

Email the Show: StraightUpChicagoInvestor@gmail.com

Guest: Kory Dieter

Link: http://www.naiopchicago.org/

Link: https://www.gcrealtyinc.com/brrrr-investment-strategy-must-knows

Link: https://www.gcrealtyinc.com/blog/house-hacking-101-in-chicago

Link: https://www.straightupchicagoinvestor.com/house-hacking-calculator

Link: https://www.straightupchicagoinvestor.com/podcast/episode-43-househacking-scaling-and-large-multifamily-deals-with-one-of-chicagos-best-power-couples

Sponsors: State Farm and Appeal.tax

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Guest Questions