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!
Timeline:
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
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
