Straight Up Chicago Investor

Latest Episodes:

Episode 84: Straight Up Tuesday Tip 10 - John Warren Answers "How can I put my best foot forward when making offers and how can I show experienced agents that I am serious?" Aug 24, 2021

Show notes

How can I put my best foot forward when making offers and how can I show experienced agents that I am serious?

Connect with Mark and Tom: StraightUpChicagoInvestor.com

Email the Show: StraightUpChicagoInvestor@gmail.com

Guest: John Warren of Second City Real Estate

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Production House: Flint Stone Media

Episode 83: How to Acquire, Fund, and Develop Distressed Properties in Chicago Aug 19, 2021

Show notes

Malcolm Gladwell popularized the idea that it takes 10,000 hours to master something. Well, if that's the case, Mike Olszewski has likely mastered his craft several times over. To date, he has sold over 17,500 REO properties, developed properties and has even begun his own private lending business. Today, you get to learn the process of acquiring, rehabbing and selling REO properties from a master and apply them to your own practice.

Mike also gives an in-depth play-by-play tutorial on how to handle a cash for keys situation and addresses some of the key things to be aware of when developing properties or small areas. Listen in as Mike has a great conversation with Mark and Tom today.

Connect with Mark and Tom: StraightUpChicagoInvestor.com

Email the Show: StraightUpChicagoInvestor@gmail.com

Guest: Mike Olszewski from Area Wide Realty | Email Mike: mike@reoareawide.com | info.barringtonfunding@gmail.com

Sponsor: Pentwater Cabinetry Sponsor: Cost Segregation Services

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Guest Questions

Guest introduction 7:00

How did you get your first deal started? 8:10

What are REO properties? 9:00

How do you start buying REO? 10:45

What's different about buying REO than traditional retail? 12:20

What's the cash for keys timeline look like? 18:20

How did you get started developing? 21:00

What is the project and how it came to be? 25:30

Security solutions for rehabs? 30:50

What appeals you about Chicago? 33:20

Private Lending 35:45

Wrap Up Questions

What's your competitive advantage? 38:45

One piece of advice for a new investor? 40:45

What do you do for fun? 41:40

Self development activity? 42:00

Network recommendation? 43:00

How can we learn more about you? 43:35

That's our show! Thanks again for tuning in!

If you want to make the most of your investment, connect with us at https://www.gcrealtyinc.com/.

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Production House: Flint Stone Media

Episode 82: Flipping Houses in Chicago's Northwest Side Aug 12, 2021

Show notes

Knowing a couple neighborhoods intimately is better than a hundred superficially. That's exactly what the Property People did in Chicago's northwest neighborhood. It's how they know how deep they can dig a basement out and how much value they'll add. What certain features are expected and what can they pass on? Greg and Jenny are a rockstar duo that have grown tremendously and have even more ambition for the future. If you learned something, please leave 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: Jennie Berger and Greg Kyler from Property People LLC

Sponsor: Cost Segregation Services Sponsor: Appeal.tax

Link: FortuneBuilders: Real Estate Investment Coaching Programs

Link: Never Split the Difference: Negotiating As If Your Life Depended On It

Link: Think Like a Monk | Jay Shetty

Link: Nonviolent Communication: A Language of Life: Life-Changing Tools for Healthy Relationships (Nonviolent Communication Guides)

Link: Rich Dad Poor Dad: The #1 Best-Selling Personal Finance Book Ever

Link: Chicago Real Estate Attorney | Justin C. Strane — Chicago Real Estate Attorneys

Link: info@propertypeoplellc.com | Follow they on Instagram (@propertypeoplellc)

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Guest Questions

Tip of the week 3:00

Guest Intro 5:00

How did you decide on your location and investing style? 8:40

What is Norwood Park like demographically? 10:30

How much difference in ARV does a full second story account for? 13:00

Basement evaluation and rehab costs. 14:20

What other areas do you cover? 16:20

How do new construction projects work? 17:00

What is the PLN? 20:50

What are some red flags for inspections? 25:00

What is Kilbourne Park like demographically? 26:00

Things to consider for comparing ARVs? 29:15

Buyer expectations in rehabbed houses? 30:00

How did you decide to join fortune builders? 32:45

Has their network benefitted you? 34:30

Wrap Up Questions

What is your competitive advantage? 38:20

One piece of advice for a new investor? 40:30

What do you do for fun? 42:15

Self development recommendation? 42:45

Local network recommendation? 44:30

That's our show! Thanks so much for tuning in this week!

If you want to make the most of your investment, connect with us at https://www.gcrealtyinc.com/.

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Production House: Flint Stone Media

Episode 81: Straight Up Tuesday Tip 9 - Rosario Terracciano Answers "What is ClickInvest and why should I care?" Aug 10, 2021

Show notes

What is ClickInvest and why should I care?

Connect with Mark and Tom: StraightUpChicagoInvestor.com

Email the Show: StraightUpChicagoInvestor@gmail.com

Guest: Rosario Terracciano of Clickinvest

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Production House: Flint Stone Media

Episode 80: Real Estate Investing 101 in Naperville with Josh Mitchell Aug 05, 2021

Show notes

From the downtown riverwalk, to larger lots and Suburban living, Naperville is a diverse market drenched with opportunity. Today's guest, Josh Mitchell, has carved out his niche as the go to guy in the area, acting as both an investor and a broker for Re/Max in Naperville. In this episode, Josh answers some FAQs for people thinking about going down a similar career trajectory and explains the nuances involved within the Naperville sub markets. If you like what you hear today, please give us a 5 star review and share us with a friend!

Like what you hear? Please leave us a review and share with someone who may be interested in investing in Chicago!

Connect with Mark and Tom: StraightUpChicagoInvestor.com

Email the Show: StraightUpChicagoInvestor@gmail.com

Guest: Josh Mitchell from Re/Max

Sponsor: Appeal.tax Sponsor: Chicago REIA

Link: Think and Grow Rich: The Landmark Bestseller Now Revised and Updated for the 21st Century (Think and Grow Rich Series)

Link: Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!

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Guest Questions

Guest introduction 5:40

Why did you get your real estate license? 6:50

What should you consider when choosing where to hold your license? 7:45

When did you get your real estate license? 8:45

Naperville housing stock? 10:00

Naperville area dividing lines? 13:00

Benefits and downsides to condo and townhome investing? 14:00

Rental rates in the Naperville area? 18:45

How do you find properties in this area? 24:30

What are some areas around Naperville that you also see opportunity? 26:45

What are the last effects of Covid from Naperville? 28:30

Wrap Up Questions

What is your competitive advantage? 30:15

Advice for a new investor? 30:45

What do you do for fun? 31:20

Self development tools you'd recommend? 31:30

Network recommendation? 32:10

How can we learn more about you? 32:50

Thanks for tuning into our show!

If you want to make the most of your investment, connect with us at https://www.gcrealtyinc.com/.

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Production House: Flint Stone Media

Episode 79: "I Got A Guy" - Keys to Building a Strong Chicago Network with Gary Davidson Jul 29, 2021

Show notes

All the nuggets you've learned from previous episodes won't add up to squat if you do not have the appropriate team in place. So how do you build that successful team? Today's guest, Gary Davidson, is not only a rock star attorney, but he is the definition of a go-giver. In today's episode you will learn how asking the question "how can I add value to person X?" can solidify your network and propel you on your journey. We will also discuss common mistakes investors make, and the questions you should be asking when picking an attorney (and some PBR history!).

Like what you hear? Please leave us a review and share with someone who may be interested in investing in Chicago!

Connect with Mark and Tom: StraightUpChicagoInvestor.com

Email the Show: StraightUpChicagoInvestor@gmail.com

Guest: Gary Davidson from Castle Law | Call Gary: 815-351-0408

Sponsor: Appeal.tax Sponsor: Exetor

Link: Go Giver By Bob Burg & John David Mann

Link: The One Thing By Gary Keller

Link: Ryan Smith

Link: Frank Montro

Link: Juan Loya

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Guest Questions

Guest Intro 5:18

How do you build a team and successfully network in Chicago real estate? 7:15

How are you a connector? 10:54

How to provide value to others as a new investor 14:51

How Did Commercial Law Prepare You For What You Do Today? 20:38

Top mistakes made by Chicago investors 26:41

What to ask when hiring a real estate attorney 34:54

Wrap Up Questions

What's your competitive advantage? 40:07

Advice for new investors? 40:51

What do you do for fun? 41:31

Self development activity? 43:26

Local network recommendation? 45:03

How can we learn more about you? 46:53

Thanks for tuning into our show!

If you want to make the most of your investment, connect with us at https://www.gcrealtyinc.com/.

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Production House: Flint Stone Media

Episode 78: Straight Up Tuesday Tip 8 - Chance Badertscher Answers "What are the steps and my responsibilities as an investor to get from attorney review to the closing table?" Jul 27, 2021

Show notes

What are the steps and my responsibilities as an investor to get from attorney review to the closing table?

Connect with Mark and Tom: StraightUpChicagoInvestor.com

Email the Show: StraightUpChicagoInvestor@gmail.com

Guest: Chance Badertscher of Lavelle Law

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Production House: Flint Stone Media

Episode 77: Screening, Operating, And Understanding Chicago's West Side Jul 22, 2021

Show notes

Roman Viere manages and operates over 900 apartment units, and the majority of these units are in Austin. Austin is geographically Chicago's largest neighborhood and offers everything from a 9-hole golf course to struggling store fronts. It takes a hands-on approach to analyze, screen and operate in a neighborhood like Austin, and Roman provides tactical insights and street-level knowledge useful to anyone looking to scale on Chicago's West Side.

Did you learn something new from this episode? Please share it with a friend and leave us a review!

Connect with Mark and Tom: StraightUpChicagoInvestor.com

Email the Show: StraightUpChicagoInvestor@gmail.com

Guest: Roman Viere from Urban Alternatives

Sponsor: Perry Farella of Prime Lending Sponsor: Appeal.tax

Link: Greater Austin Development Association

Link: Neighborhood Building Owners Alliance

Link: Oak Park Regional Housing Center

Link: West Cook Housing Homeownership Services

Link: Am I Being Too Subtle? by Sam Zell

Link: Devil In The White City by Erik Larson

Link: Phillip Moore - Senior Law Officer at CIC

Link: Summer Soiréé

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Guest Questions

Guest Intro 4:45

How did you get started in Austin? 5:16

What are the different pockets of Austin and what can it do for an investor? 7:09

Why are most opportunities on Washington Blvd? 9:14

Why is the cap rate in Austin higher? 9:56

What are red flags when screening C and D class incomes? 14:01

What vacancy factor should I use in Austin? 16:16

What maintenance factor should I use in Austin? 17:25

How do you handle chargebacks? 20:49

What is the price per door right now in Austin? 22:07

How have you adjusted your business based on the economy? 23:53

What is the upside to investing in Austin? 26:27

How have you become a part of the community in Austin? 31:11

What is the minimum amount of doors I need to be successful in Austin? 33:25

Why buy in Blue Island? 39:02

Wrap Up Questions

What's your competitive advantage? 41:22

Advice for new investors? 42:08

What do you do for fun? 43:24

Self development activity? 44:03

Local network recommendation? 44:58

How can we learn more about you? 45:49

Thanks for tuning into our show!

If you want to make the most of your investment, connect with us at https://www.gcrealtyinc.com/.

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Production House: Flint Stone Media

Episode 76: Big Business Processes Make a Powerful Small Business with Jonathan Klemm Jul 15, 2021

Show notes

Like many real estate professionals, Jonathan Klemm transitioned from a W-2; what is remarkable about him is his background working with Walsh Construction, which is one of Chicago's largest construction and contraction companies. Jonathan has taken everything he learned about managing large scale projects and applied it to smaller, investor focused projects. Listen in as Jonathan explains his process, what sets his company apart and how to best position yourself to work with contractors.

Connect with Mark and Tom: StraightUpChicagoInvestor.com

Email the Show: StraightUpChicagoInvestor@gmail.com

Guest: Jonathan Klemm of Quality Builders | Email Jonathan: Jonathan@qualitybuilders.com | Email Quality Builders: info@qualitybuilders.com

Sponsor: Pentwater Cabinetry Sponsor: Appeal.tax

Link: The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It

Link: Remodeling and Repair - Installation Cost Calculators

Link: The Lean Startup: How Constant Innovation Creates Radically Successful Businesses

Link: Traction: Get a Grip on Your Business eBook: Wickman, Gino: Kindle Store

Link: How to Win Friends and Influence People - Kindle edition by Carnegie, Dale. Self-Help Kindle eBooks

Link: Prashanth Mahakali - Chicago, Illinois, United States | Professional Profile

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Guest Questions

Guest Intro 5:00

Takeaways from working at a large construction company for quality builders? 8:00

Questions to ask when interviewing contractors? 11:20

What's expected of investors you partner with? 12:50

How does an investor's financing affect your timeline? 17:00

What items can cause a large change in price during the work? 25:00

How do you manage pricing variability? 27:00

How did you move from W-2 to self employed? 28:25

Wrap Up Questions

What's your competitive advantage? 37:45

Advice for new investors? 38:40

What do you do for fun? 39:15

Self development activity? 39:56

Local network recommendation? 40:45

How can we learn more about you? 41:45

That's our show, thanks again for tuning in!

If you want to make the most of your investment, connect with us at https://www.gcrealtyinc.com/.

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Production House: Flint Stone Media

Episode 75: Straight Up Tuesday Tip 7 - Rosario Terracciano Answers "What are proactive steps to ensure I'm ready to pull the trigger when the right property presents itself?" Jul 13, 2021

Show notes

What are proactive steps to ensure I'm ready to pull the trigger when the right property presents itself?

Connect with Mark and Tom: StraightUpChicagoInvestor.com

Email the Show: StraightUpChicagoInvestor@gmail.com

Guest: Rosario Terracciano of Clickinvest

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Production House: Flint Stone Media