Episode 30: What You Need to Know to Successfully Invest in Aurora

In this week’s episode, Sean Morrissey of Chicago Realty Group LLC breaks down investing in and around Aurora, focusing on the downtown redevelopment taking place to bring the old riverboat city back into the spotlight. Aurora is full of diverse opportunities, including tax credits, and unique zoning discrepancies that allow the clever investor the ability to redevelop mis-zoned land. Sean also explains how certain parts of Aurora fall into neighboring town school districts, which allow for pockets of strong investment opportunity.

Listen in and share with a friend! Also, check out our Straight Up Chicago Investor Club at https://www.facebook.com/groups/3265227216848263

Timeline:

Landlord tip of the day 2:15

Guest Introduction 5:00

Can you explain what the rent to price ratio of 1.0? 5:50

Tell us about the housing in Aurora and the surrounding area? 7:20

What is your investment strategy in Aurora? 9:30

Are there Opportunity zones in Aurora that are better than others? 12:25

Can you explain what the redevelopment of downtown Aurora looks like? 13:25

Can you explain TIF districts? 17:15

How do the good school districts in other towns affect the aurora residential market? 22:15

What kind of opportunities are you seeing there? 24:30

What’s the rental market in Aurora like and how do rental licenses work? 26:00

What are some nuances an investor might have to look out for? 30:00

How do you think Aurora will come out of COVID? 34:40

Wrap Up:

What’s your competitive advantage? 35:45

What’s one piece of advice you’d tell a new investor in the area? 36:45

What do you do for fun? 38:00

Can you give us a good self development activity you use? 38:40

Who would you recommend in your network as a quality resource? 40:21

How can we learn more about you? 41:38

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Guest Name: Sean Morrissey

Guest Company: Chicago Realty Group LLC

Guest Link: https://chicago-realty-group.com/

Tony Angelos’ BP Profile | https://www.biggerpockets.com/users/TonyA121#0

Tony Angelos’ Email | tony@irpinogroup.com

Tony Angelos’ Cell | (708) 627-9702

Aurora Economic Development | Invest Aurora: Homepage

Home Ownership Support | The Neighbor Project

Aurora tech investment | 605 Innovation District

Towns with multiple schools | https://www.youtube.com/watch?v=SwyDvWmvnHI&t=10s

Sean’s Podcast | ‎Landlording for Life on Apple Podcasts