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!
Timeline:
Landlord tip 2:07
Guest Introduction 3:50
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
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
Guest Name: Jared Kott
Guest Company: Marblestone Property Group
Guest Link: http://www.mpghousing.com/
Other Links for show notes:
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/
Thanks for listening!
