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How to Navigate Chicago's Real Estate Market and Secure Grants for Investing · Earn Your Leisure

• 0:00
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 0:03
  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
• 0:07
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 0:11
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 0:15
  Speaker 1: some of the heinous migrant criminals caught because of President
• 0:19
  Speaker 1: Donald J.
• 0:20
  Speaker 2: Trump's leadership.
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  Speaker 1: I'm Christy nom the United States Secretary of Homeland Security.
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  Speaker 1: Under President Trump, attempted illegal border crossings are at the
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  Speaker 1: lowest levels ever recorded, and over one hundred thousand illegal
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  Speaker 1: aliens have been arrested. If you are here illegally, your
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  Speaker 1: next you will be fined nearly one thousand dollars a day, imprisoned,
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  Speaker 1: and deported.
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  Speaker 2: You will never return.
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  Speaker 1: But if you register using our CBP home app and
• 0:47
  Speaker 1: leave now, you could be allowed to return legally.
• 0:50
  Speaker 2: Do what's right. Leave now.
• 0:53
  Speaker 1: Under President Trump, America's laws, border and families will be protected.
• 0:57
  Speaker 3: Sponsored by the United States Department of Homeland Security.
• 1:03
  Speaker 4: This episode of The Market Monday's World Tour is brought
• 1:05
  Speaker 4: to you with limited interruption by Ally.
• 1:23
  Speaker 5: The Moment, Time for the unforgettable moments, you say for
• 1:34
  Speaker 5: we're all better off with an ally like a part
• 1:36
  Speaker 5: in the Scotch fly Away.
• 1:40
  Speaker 6: So when we talk about real estate, we wanted to
• 1:42
  Speaker 6: make sure that we bring local people that are relevant
• 1:47
  Speaker 6: to the local real estate market. And we've had this
• 1:52
  Speaker 6: relationship with Rashaanna Scott for.
• 1:55
  Speaker 7: A long time.
• 1:56
  Speaker 8: Chicago was in the party.
• 2:17
  Speaker 7: Yes, make some noise and some noise for the Queen.
• 2:19
  Speaker 6: Please, Hey Rashana, Rashaana local realtor, investor and somebody that's
• 2:26
  Speaker 6: very extremely knowledgeable about real estate and you know definitely
• 2:29
  Speaker 6: when it comes to Chicago.
• 2:30
  Speaker 7: So yes, thank you for coming.
• 2:33
  Speaker 5: Yeah, keep having me.
• 2:34
  Speaker 4: Hey y'all, Hey, well, thank you again. So December ninth,
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  Speaker 4: twenty nineteen, you lead you put on its first first
• 2:43
  Speaker 4: real event in DC and we asked a real estate
• 2:46
  Speaker 4: professional to come, no other than you. So thank you
• 2:49
  Speaker 4: again for being here with us. O course you're part
• 2:51
  Speaker 4: of our history. Type it up for huh.
• 2:55
  Speaker 5: Yeah, that was a dope event. That was a fun event.
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  Speaker 5: Top golf, mobile home, bulld up wall Street, trap, plowed up,
• 3:04
  Speaker 5: man and flies.
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  Speaker 6: Real estate is everything, you know. Everybody is involved in
• 3:09
  Speaker 6: real estate because you live somewhere right, either you are
• 3:13
  Speaker 6: renting from a landlord or you own an apartment or
• 3:17
  Speaker 6: you own a home, right, somebody owns that real estate
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  Speaker 6: regardless even if you're sleeping in the street or sleeping
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  Speaker 6: in the park that's owned by the city. If you
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  Speaker 6: think about it, right, there's nowhere where you're living that
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  Speaker 6: somebody that somebody owns this building.
• 3:32
  Speaker 7: Right now.
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  Speaker 6: Real estate is everything. So real estate is not a scam.
• 3:37
  Speaker 6: Some people that are in real estate have performed scams.
• 3:40
  Speaker 6: But but the real estate is not a scam. It's
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  Speaker 6: it's important, y'all say, y'all want to let a jacket energy?
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  Speaker 9: Right, So, so, so what are some good investment tips
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  Speaker 9: for first time home buyers and investors?
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  Speaker 5: All right? So what's up, Chicago go?
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  Speaker 10: It feels good to be having this conversation with my
• 4:06
  Speaker 10: brothers in my home city. So definitely, you know, one
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  Speaker 10: of the number one things that I talked to folks about.
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  Speaker 10: First of all, how many people in here are homeowners?
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  Speaker 10: Make them noise?
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  Speaker 8: Shout out to y'all, all right, how many.
• 4:19
  Speaker 5: People out here own investment properties?
• 4:22
  Speaker 8: Shout out to y'all Okay, yeah, okay.
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  Speaker 5: And how many future homeowners and investors.
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  Speaker 8: Do we have? Make some noise everybody?
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  Speaker 5: Okay, cool? Good stup.
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  Speaker 10: So one of the number one things that I always
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  Speaker 10: talk about is house hacking.
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  Speaker 8: Right.
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  Speaker 10: It is not a new strategy by any means, but
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  Speaker 10: because of social media, house hacking has just become more
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  Speaker 10: popular over the past couple of years. And essentially, what
• 4:46
  Speaker 10: house hacking means is that you buy a property that
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  Speaker 10: could be a single family home or a multifamily and
• 4:53
  Speaker 10: you rent out other areas of that property where you
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  Speaker 10: can actually make money and it can pay your mortgage
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  Speaker 10: and you can live for free essentially, right. And so
• 5:03
  Speaker 10: if it's a single family home, you can rent out rooms,
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  Speaker 10: you can rent out the garage, you can rent out
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  Speaker 10: the shed, there's a number of different areas. You can
• 5:11
  Speaker 10: rent out the basement, right, if you have an addic
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  Speaker 10: if you have an in law suite. But if it's
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  Speaker 10: a multi unit, thankfully, in the Chicago land market, we
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  Speaker 10: have an abundance of multifamily properties and you can get
• 5:23
  Speaker 10: into it and purchase a two or three or four
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  Speaker 10: unit property. And so a lot of clients that I
• 5:29
  Speaker 10: work with, they're like, you know, how do I get
• 5:31
  Speaker 10: started in real estate? Now, living in a multi unit
• 5:34
  Speaker 10: may not be for everyone, but if your goal is
• 5:37
  Speaker 10: to build generational wealth through investing in real estate. I
• 5:41
  Speaker 10: would absolutely advise that you purchase a multi unit as
• 5:45
  Speaker 10: your first property because you can put very little to
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  Speaker 10: no money down. Right, So there are programs out there
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  Speaker 10: that are zero percent, you have three and a half percent,
• 5:56
  Speaker 10: and you have five percent down programs where you can
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  Speaker 10: get into a multi high unit, where as an investor,
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  Speaker 10: they're looking at twenty twenty five to thirty percent down
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  Speaker 10: in regards to starting your investment.
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  Speaker 7: What's some of those programs.
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  Speaker 10: Yeah, so NAKA shout out to Dre So, NACA is
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  Speaker 10: a great program. Actually have some clients in the crowd
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  Speaker 10: who have also closed with NAKA and that program is
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  Speaker 10: no money down, no closing costs. We're talking about the
• 6:27
  Speaker 10: interest rais nowadays and how they just keep going higher
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  Speaker 10: and higher and higher. You can actually go in and
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  Speaker 10: buy your interest right down and they're just ultimately across
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  Speaker 10: the board. On average, their rates are about one and
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  Speaker 10: a half to two and a half percent lower than
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  Speaker 10: what the national average is going to be. So NACA
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  Speaker 10: is a great program that you guys can use to
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  Speaker 10: purchase multi units or just to purchase your first property
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  Speaker 10: in general. Now, the thing about NACA, right, so there's
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  Speaker 10: a lot of different misconceptions. There's a lot of conversation
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  Speaker 10: around NAKA. It is a phenomenal program, but if you
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  Speaker 10: are on a timeframe, I don't believe that NAKA is
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  Speaker 10: the program for you. So like, if you got to
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  Speaker 10: be out of your place in four months, NAKA is
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  Speaker 10: not the program for you, right, And I don't believe
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  Speaker 10: there's enough people like saying that, and people get started
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  Speaker 10: and then they get in the process and then they
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  Speaker 10: realize they're not getting approved for maybe twelve to eighteen months, right.
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  Speaker 10: But it's a phenomenal program to the buyer. And so
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  Speaker 10: if you have not purchased a property yet, but you
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  Speaker 10: know you want to purchase a property sometime in the
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  Speaker 10: near future, then I would say absolutely everyone should start
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  Speaker 10: that program now.
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  Speaker 5: All right, faha.
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  Speaker 10: Three and a half percent down faha, and conventional loans
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  Speaker 10: government backed mortgages. And I don't know if you guys
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  Speaker 10: have seen on social media lately, but we have been
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  Speaker 10: talking about it and posting it like crazy. So faha,
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  Speaker 10: like I mentioned, three and a half percent down, anything
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  Speaker 10: from one to four units. The conventional product has changed
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  Speaker 10: their from five percent down for two, three and four units.
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  Speaker 10: That's amazing for conventional okay. And why that's a big
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  Speaker 10: deal is because in Cook County, the limits for FAHA
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  Speaker 10: to purchase up till four unit is nine hundred thousand dollars.
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  Speaker 10: So you can go and purchase a property for nine
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  Speaker 10: hundred thousand dollars and only put three and a half
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  Speaker 10: percent down if that's FAHA, And for conventional the Cook
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  Speaker 10: County loan limit is one point four million dollars and
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  Speaker 10: you only have to put five percent down.
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  Speaker 8: Wow, that's crazy, that's crazy, Micheane.
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  Speaker 4: There's nothing like free money though, right, So let's talk
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  Speaker 4: about some grant programs because grants is something that we
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  Speaker 4: don't have to be back. I know that from you know,
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  Speaker 4: being a student and having student loans, we always want
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  Speaker 4: to get the grant money. So what type of grants
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  Speaker 4: are being offered here in Illinois, specifically in Chicago.
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  Speaker 10: Yes, I absolutely want to talk about two major programs.
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  Speaker 10: But before I talk about that, I also want to
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  Speaker 10: make sure that I don't forget to mention VA loans.
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  Speaker 5: Do we have any veterans in the.
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  Speaker 8: Building, shut out to y'all, shout.
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  Speaker 5: Definitely shout out to y'all.
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  Speaker 10: And if you have any family members who are veterans,
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  Speaker 10: let me tell you call them up and say, hey,
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  Speaker 10: did you use your VA loan? Because if not, we
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  Speaker 10: need to go about four units. VA is another loan
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  Speaker 10: program that is absolutely no money down and there are
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  Speaker 10: certain tax benefits too to where you can have your
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  Speaker 10: property taxes reduce significantly.
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  Speaker 5: If you are if you have access to the VA loan.
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  Speaker 10: So definitely make sure that you guys utilize that VA
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  Speaker 10: loan because you can actually purchase a property with no
• 9:43
  Speaker 10: money down. You can get one hundred percent financing, you
• 9:46
  Speaker 10: can refinance out of that property into a conventional loan,
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  Speaker 10: and you can move out of that property and use
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  Speaker 10: that VA loan again.
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  Speaker 8: Did y'all catch that againson one more again?
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  Speaker 10: So in regards to the program, so AIDA, you guys
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  Speaker 10: write this down ihd A. It is Illinois Housing Development
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  Speaker 10: Authority and IDA is probably one of the most commonly
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  Speaker 10: used state grants that I've been using throughout my career.
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  Speaker 10: I've had a number of different clients closed with IDOL
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  Speaker 10: loans and that is up to ten thousand and down
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  Speaker 10: payment assistance.
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  Speaker 5: You can go right online. You can google.
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  Speaker 10: IHDA IDA and there's income limits and credit score requirements
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  Speaker 10: and things like that. But all of the program qualifications
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  Speaker 10: are there, and that is the most common commonly used
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  Speaker 10: grant that I've seen throughout the years.
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  Speaker 7: That's ten thousand dollars.
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  Speaker 4: All I gotta do is put out the application, Hopefully
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  Speaker 4: I meet through requirements and it's granted to me.
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  Speaker 5: Yep, up to yep, yeah, and you don't have to
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  Speaker 5: repay it.
• 10:54
  Speaker 7: This is a question we asked Don Peebles last year.
• 10:57
  Speaker 6: I want to ask you, now, what are like the
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  Speaker 6: three hottest areas to invest in in Chicago or Illinois?
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  Speaker 10: So what'd you say to?
• 11:13
  Speaker 8: Right?
• 11:13
  Speaker 10: Right, so everyone knows about the Obama Library that's coming.
• 11:19
  Speaker 10: Shout out to the Obama Library. Shout out to what
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  Speaker 10: line it is coming into? Twenty twenty five? That must
• 11:24
  Speaker 10: be a west side. That must be a west side
• 11:29
  Speaker 10: over there? Boying, but uh, but so what line?
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  Speaker 5: Actually?
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  Speaker 10: Statistically proven has been one of the fastest growing neighborhoods
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  Speaker 10: in the country. The home values have doubled in less
• 11:43
  Speaker 10: than twenty four months. Right, So, if you guys drive by,
• 11:47
  Speaker 10: you know you can see the library is coming. It's
• 11:50
  Speaker 10: I don't I don't know what phase is in, but
• 11:53
  Speaker 10: that thing is going up quick. The expected delivery day
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  Speaker 10: is twenty twenty five. So that's a good area that
• 12:01
  Speaker 10: I would say to invest in. Lowndale is a great
• 12:05
  Speaker 10: area to invest in. West side of See, I'm gonna
• 12:09
  Speaker 10: gig you out some love Lawndale, Austin. Another program that
• 12:14
  Speaker 10: I'm gonna talk about is a MMRP.
• 12:17
  Speaker 5: Make sure you guys write that down.
• 12:19
  Speaker 10: That is Micro Market Recovery Program. That is a grant
• 12:24
  Speaker 10: program that I've been working with clients to get since
• 12:28
  Speaker 10: twenty eighteen. That program started off as a fifteen thousand
• 12:33
  Speaker 10: dollars non repayable down payment assistant grant and it started
• 12:38
  Speaker 10: out in eleven different areas across the city of Chicago.
• 12:42
  Speaker 10: That grant program has since increased to a thirty thousand
• 12:46
  Speaker 10: dollars down payment assistance program, and they have also increased
• 12:50
  Speaker 10: it to twenty different areas of Chicago. And so you know,
• 12:55
  Speaker 10: you mentioned like, what are three different areas? Like people
• 12:58
  Speaker 10: always want to talk about the crime that's going on
• 13:00
  Speaker 10: in Chicago, the terrible things that are going on in Chicago,
• 13:03
  Speaker 10: and just all of the bad that is about Chicago.
• 13:05
  Speaker 10: But what they don't tell you is that there is
• 13:07
  Speaker 10: an entire new zip code being developed in Chicago right
• 13:11
  Speaker 10: It is a multi billion dollar development called.
• 13:13
  Speaker 5: The seventy eight.
• 13:14
  Speaker 10: It is six oh six seven eight right across from
• 13:17
  Speaker 10: Roosevelt on Roosevelt and Clark from the Target, right all
• 13:21
  Speaker 10: of that land.
• 13:21
  Speaker 5: Who knows about the seventy eight?
• 13:23
  Speaker 10: All right, okay, so you know, if Chicago is so
• 13:27
  Speaker 10: terrible and there's all these terrible things that happened, why
• 13:29
  Speaker 10: is there's so much money going into the city. Right,
• 13:32
  Speaker 10: There's a there's a lot of different infrastructure. Right, there's
• 13:36
  Speaker 10: a lot of things being built, there's a lot of
• 13:38
  Speaker 10: major headquarters that are here, and there's just a lot
• 13:41
  Speaker 10: of money that's going into the city, and not only
• 13:44
  Speaker 10: on the residential side, but on the commercial side.
• 13:48
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  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 15:42
  Speaker 1: in Massachusetts. An MS thirteen gang member from El Salvador
• 15:46
  Speaker 1: accused of murdering a Texas. Man of Venezuelan charged with
• 15:50
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 15:54
  Speaker 1: some of the heinous migrant criminals caught because of President
• 15:58
  Speaker 1: Donald J.
• 15:59
  Speaker 2: Trump's leadership. I'm Christy Noman, the.
• 16:01
  Speaker 1: United States Secretary of Homeland Security. Under President Trump, attempted
• 16:06
  Speaker 1: illegal border crossings are at the lowest levels ever recorded,
• 16:10
  Speaker 1: and over one hundred thousand illegal aliens have been arrested.
• 16:13
  Speaker 1: If you were here illegally, your next you will be
• 16:17
  Speaker 1: fine nearly one thousand dollars a day, imprisoned and deported,
• 16:21
  Speaker 1: you will never return. But if you register using our
• 16:24
  Speaker 1: CBP home app and leave now, you could be allowed.
• 16:28
  Speaker 2: To return legally. Do what's right, leave now.
• 16:32
  Speaker 1: Under President Trump, America's laws, border and families.
• 16:35
  Speaker 2: Will be protected.
• 16:36
  Speaker 3: Sponsored by the United States Department of Homeland Security.
• 16:39
  Speaker 10: As well, So again Austin Lawndale Chatham, Grand crossing Gresham.
• 16:46
  Speaker 5: Like, these are the.
• 16:46
  Speaker 10: Number of different programs that are even on an mmr
• 16:49
  Speaker 10: P list. So if you guys go online again, that's
• 16:52
  Speaker 10: the Micro Market Recovery program. You have to have a
• 16:55
  Speaker 10: property identify and be under contract, and you have to
• 16:59
  Speaker 10: have a home Buyer Certificate past.
• 17:03
  Speaker 5: It's just an online class.
• 17:04
  Speaker 10: You go online and you take it and your lender
• 17:06
  Speaker 10: can give you the link for that. And then if
• 17:08
  Speaker 10: you're purchasing a multi unit, you have to take a
• 17:11
  Speaker 10: Landlord certific Certification class, which is also online. But yeah,
• 17:16
  Speaker 10: but yeah, those are a number of different programs and
• 17:19
  Speaker 10: a number of different areas.
• 17:20
  Speaker 4: I was going to ask about the time sensitivity right
• 17:22
  Speaker 4: because we were talking about stage. You're like, people need
• 17:24
  Speaker 4: to know about it because these programs and these grants
• 17:27
  Speaker 4: sometimes they come and they go.
• 17:28
  Speaker 7: You talk about that a little bit.
• 17:29
  Speaker 10: Yeah, Well, I think that's why it's important to be
• 17:33
  Speaker 10: plugged in with a team and people who have resources
• 17:37
  Speaker 10: because when these programs come and go like not to
• 17:41
  Speaker 10: you know, pop my stuff. But I was awarded, uh,
• 17:46
  Speaker 10: the top realtor from the Chicago Department of Housing to
• 17:49
  Speaker 10: utilize this grant.
• 17:52
  Speaker 7: That's something that brag about.
• 17:55
  Speaker 5: Yeah, so to.
• 17:57
  Speaker 10: Be the number one realtor who has been advocate for
• 18:01
  Speaker 10: closing you know, these grant programs, you know, with people
• 18:04
  Speaker 10: in our communities like and so because of that, whenever
• 18:08
  Speaker 10: there's money that is available, I'm one of the ones.
• 18:10
  Speaker 5: That gets the call first.
• 18:11
  Speaker 10: And that's why it's important right to work with the
• 18:14
  Speaker 10: people who are in the community's working right, Like, we
• 18:16
  Speaker 10: don't just post about it. We don't just you know,
• 18:19
  Speaker 10: talk about it. We actually show up and we do
• 18:21
  Speaker 10: the work. So because of that, you know, NHS, whenever
• 18:25
  Speaker 10: they have programs that roll out their contact the media
• 18:28
  Speaker 10: contacted my lenders and we're on the phone and we're
• 18:30
  Speaker 10: saying like, hey, who do we have in a pipeline,
• 18:32
  Speaker 10: who do we have coming up? Who do we already
• 18:34
  Speaker 10: have that can qualify for these types of programs, because
• 18:37
  Speaker 10: once the money is there, we got to get it,
• 18:39
  Speaker 10: and once it's gone, is gone.
• 18:41
  Speaker 6: So, you know, Cardi b made a post and with
• 18:45
  Speaker 6: ardy shot shout out to Carty. When when I first
• 18:49
  Speaker 6: saw it, I was like, I ain't you know what
• 18:50
  Speaker 6: I see? But I listened to it. No, she actually
• 18:54
  Speaker 6: was pretty insightful and bey honest with you, absolutely, and
• 18:56
  Speaker 6: she she she brought up some good points about where
• 19:00
  Speaker 6: it's a lot of issues that can come into owning
• 19:03
  Speaker 6: a property. It's not like you just buy a property
• 19:05
  Speaker 6: and that's it. Like you got to be a landlord.
• 19:07
  Speaker 6: You gotta collect rent, you gotta deal with tenants. So
• 19:10
  Speaker 6: what the best practice is and what should people prepare
• 19:12
  Speaker 6: themselves for for the downside of real estate of being
• 19:16
  Speaker 6: a landlord.
• 19:18
  Speaker 10: Absolutely well, first and foremost, I think it's important to
• 19:21
  Speaker 10: identify that being a landlord is not the only way
• 19:24
  Speaker 10: that you can invest in real estate. Right, Like, you
• 19:27
  Speaker 10: can flip, yes, you can hold, Yes, you can wholesale,
• 19:30
  Speaker 10: you can purchase mortgage notes, you can do taxlan investment,
• 19:33
  Speaker 10: you can do auctions. There's just a number of different
• 19:36
  Speaker 10: ways in which you can invest, right. I think it's
• 19:39
  Speaker 10: important to know and to understand that investing in real estate,
• 19:43
  Speaker 10: there are entrance strategies, and there's the ways that you
• 19:45
  Speaker 10: can get into the market, and then there's exit strategies.
• 19:48
  Speaker 8: Right.
• 19:49
  Speaker 10: We have Airbnb, we have short term rentals, we have
• 19:52
  Speaker 10: medium term rentals.
• 19:54
  Speaker 5: And so to answer your question.
• 19:56
  Speaker 10: Definitely have an attorney, right if you're going to decide
• 20:00
  Speaker 10: that you know you want to be a landlord. I
• 20:02
  Speaker 10: just completed an eviction myself, you know, on one of
• 20:05
  Speaker 10: my properties. Now, thankfully that client got out, and I
• 20:08
  Speaker 10: mean that tenant got out in two months. But I
• 20:12
  Speaker 10: had a bulldog attorney who got on it right away
• 20:14
  Speaker 10: and you know, was not playing. And my praise report
• 20:20
  Speaker 10: is that she actually filed for rental assistance before she
• 20:25
  Speaker 10: got out. I guess she thought it was gonna help
• 20:26
  Speaker 10: her case. But the judge still ordered for her.
• 20:29
  Speaker 5: To get out.
• 20:30
  Speaker 10: And I got my unit back and I'm getting all
• 20:32
  Speaker 10: of my back pay. And so that's something that you know,
• 20:36
  Speaker 10: you guys also as landlords, should be educating your tenants
• 20:40
  Speaker 10: about right, Like if you are having a hard time
• 20:43
  Speaker 10: paying your rent, what here are some resources you know
• 20:46
  Speaker 10: that will help you, because there's a number of different
• 20:48
  Speaker 10: resources that are out there too. If you are not
• 20:51
  Speaker 10: a good people person, if you're not a good manager
• 20:55
  Speaker 10: of property, people or your finances, highly consider hiring a
• 20:59
  Speaker 10: property man management company right and make sure that you're
• 21:02
  Speaker 10: factoring that into your numbers up front before you make
• 21:05
  Speaker 10: the purchase on the deal. The other thing too, is
• 21:08
  Speaker 10: that you know CARTI talked about market rate tenants essentially
• 21:12
  Speaker 10: right and them not paying for their you know, paying
• 21:16
  Speaker 10: for the rent. There's a number of different subsidy programs
• 21:19
  Speaker 10: that are out there.
• 21:20
  Speaker 5: We talk about.
• 21:21
  Speaker 10: Section eight a lot, but Section eight is not the
• 21:23
  Speaker 10: only subsidy program that is out there. Actually have an
• 21:27
  Speaker 10: a unit on a market that I was at yesterday
• 21:30
  Speaker 10: and we were there with a number of different contractors
• 21:33
  Speaker 10: and a buyer pulled up and he was looking at
• 21:36
  Speaker 10: the building. He was looking at the layout and he
• 21:38
  Speaker 10: was like, yeah, I only I only rent to subsidy programs.
• 21:42
  Speaker 5: And he was like, I don't do Section eight, right.
• 21:44
  Speaker 10: So, for those of you who are taking notes, and
• 21:47
  Speaker 10: for those of you who are landlords, different programs outside
• 21:52
  Speaker 10: of that of subsidy, outside of Section A. C h
• 21:55
  Speaker 10: H is one in the Chicago land area that is
• 22:00
  Speaker 10: the Center for Housing and Health.
• 22:03
  Speaker 5: You also have what's the other one, and.
• 22:09
  Speaker 10: You also have Catholic Charities is another one that's a
• 22:13
  Speaker 10: very commonly used one. And there's a third one that
• 22:17
  Speaker 10: I can't think of and it starts with the A.
• 22:20
  Speaker 10: But I'll let you guys know. It's in my phone,
• 22:22
  Speaker 10: but my phone is over there. I think it's All
• 22:25
  Speaker 10: Chicago or all City or something like that. These are
• 22:30
  Speaker 10: three different subsidy programs that have quality tenants right, like
• 22:35
  Speaker 10: there actually are going and they're doing the screening for
• 22:38
  Speaker 10: you guys before you even you know, place the tenants right.
• 22:41
  Speaker 10: And then that's the other thing too. Definitely make sure
• 22:44
  Speaker 10: you screen every single tenant. Okay, background check, evictions check,
• 22:50
  Speaker 10: credit check. You know, you want to ask why are
• 22:54
  Speaker 10: you moving, why do you need to move by?
• 22:56
  Speaker 5: What time frame do you need to move?
• 22:58
  Speaker 10: And I do pop ups on tenants as well, so
• 23:03
  Speaker 10: I'm like, hey, you know, this is.
• 23:05
  Speaker 5: The property management colin.
• 23:07
  Speaker 10: You are one of our you know, final applicants and
• 23:10
  Speaker 10: as a part of our next round for you know,
• 23:13
  Speaker 10: placing a tenant, we need to come by and do
• 23:16
  Speaker 10: a walk through today.
• 23:17
  Speaker 5: What time is good for you?
• 23:18
  Speaker 7: Wow?
• 23:21
  Speaker 5: I shared that before and somebody was like is it legal?
• 23:23
  Speaker 5: I was like, who said is not? Who said is not? Right?
• 23:28
  Speaker 8: Now?
• 23:28
  Speaker 10: Yeah, of course they can say, oh I'm not available
• 23:30
  Speaker 10: or this or that or whatever the case, right, but
• 23:33
  Speaker 10: I want to know how you are living right now today, right.
• 23:37
  Speaker 10: And it's always funny because when you get there, it's
• 23:38
  Speaker 10: gonna you're gonna be smacked in the.
• 23:40
  Speaker 5: Nose of bleach, like you know, you gonna know.
• 23:44
  Speaker 10: But yeah, just so those are number of different things
• 23:48
  Speaker 10: that you can look into or that you can kind
• 23:51
  Speaker 10: of have in place as insurance measures, you know, when
• 23:54
  Speaker 10: you talk about becoming a landlord and to go against
• 23:58
  Speaker 10: you know, the Cardi ramp right, because I obviously she
• 24:00
  Speaker 10: was only talking about market paying tenants. But there's a
• 24:04
  Speaker 10: number of different ways and things, you know that you
• 24:06
  Speaker 10: could look at.
• 24:07
  Speaker 4: One of the critiques from that post for a lot
• 24:09
  Speaker 4: of real estate professionals were like, at that level, you
• 24:12
  Speaker 4: shouldn't be buying homes, you should be buying commercial real estate.
• 24:15
  Speaker 4: And so I wonder what the temperature is here in Chicago.
• 24:17
  Speaker 4: Obviously you've been here experience, you're number one in the space.
• 24:21
  Speaker 4: What's the temperature like here in Chicago when it comes
• 24:23
  Speaker 4: to real estate? You know, we were in Englewood earlier today.
• 24:26
  Speaker 4: Shout out to our brothers from Oasis. Yeah, yeah, yeah,
• 24:31
  Speaker 4: and we saw the plans of what they plan to do.
• 24:34
  Speaker 4: But they're doing it with local businesses, right, it's mixed
• 24:37
  Speaker 4: use where and shout out to Sip and Savior. Shout
• 24:40
  Speaker 4: out to them. We're giving us that coffee today, yep,
• 24:42
  Speaker 4: shout out to them. So that's encouraging. We're seeing people
• 24:45
  Speaker 4: work together in real estate. What's the temperature here in Chicago.
• 24:48
  Speaker 4: Over the past five years, since this information age has
• 24:51
  Speaker 4: become so prevalent, yeah, I.
• 24:53
  Speaker 10: Mean, the multi unit market has gone crazy. And again
• 24:58
  Speaker 10: I think definitely because of social media. You know, over
• 25:01
  Speaker 10: the past couple of years, coining the term house hacking,
• 25:04
  Speaker 10: coining the terms like burr and things like that. I
• 25:08
  Speaker 10: will say that a lot of out of say investors
• 25:11
  Speaker 10: have been attracted to the market, and then when they
• 25:14
  Speaker 10: see how cheap it is, you know, compared to the
• 25:17
  Speaker 10: East Coast and the West Coast, you know, it's getting
• 25:20
  Speaker 10: brought up, right, So then obviously competition is going up
• 25:23
  Speaker 10: and things like that. The other thing too, is that
• 25:26
  Speaker 10: in our market, it's an interesting market because when people ask, like, okay,
• 25:31
  Speaker 10: so if a four unit costs five hundred thousand, that
• 25:36
  Speaker 10: means let's say, oh, a six year it will cost
• 25:40
  Speaker 10: like seven or six fifty. And I'm like, not necessarily right,
• 25:44
  Speaker 10: Like there are in some markets you can also get
• 25:47
  Speaker 10: a text unit or eight unit, but the same price
• 25:51
  Speaker 10: of a four And when there are you know, investors
• 25:55
  Speaker 10: that see that, they're like, oh okay. And then if
• 25:59
  Speaker 10: I'm having a conversation with them and I know that
• 26:01
  Speaker 10: they have the availability, like the capital to put down.
• 26:04
  Speaker 10: I'm actually going to encourage them like, well, you know,
• 26:06
  Speaker 10: I know you were looking at this four unit, but
• 26:08
  Speaker 10: why right, if you're coming in as an out of
• 26:11
  Speaker 10: state investor and you're putting you know, twenty to twenty
• 26:13
  Speaker 10: five percent down, why not go commercial anyway? Especially you know,
• 26:16
  Speaker 10: like I said, if you're looking at a four unit
• 26:18
  Speaker 10: that costs five, five or six hundred thousand in certain areas,
• 26:21
  Speaker 10: you can absolutely get a commercial property, you know, for
• 26:24
  Speaker 10: that same price as well. The other thing, too, is
• 26:27
  Speaker 10: that buying properties and rehabbing it, you can absolutely still
• 26:31
  Speaker 10: do that in Chicago. Of course, the best deals are
• 26:34
  Speaker 10: going to be found off market. So that's the other thing,
• 26:37
  Speaker 10: you know, strengthen those relationships that you guys have and
• 26:41
  Speaker 10: work on getting opportunities and deals that are off market,
• 26:44
  Speaker 10: because there are still deals that are out there. But yeah,
• 26:47
  Speaker 10: the market is has been hot for a while in
• 26:52
  Speaker 10: regards to you know, buying multi units and people wanting
• 26:54
  Speaker 10: to live in them and rent them out. Now, you know,
• 26:59
  Speaker 10: I also be having to have these come to Jesus
• 27:01
  Speaker 10: meetings with clients because yes, pre COVID, you could live
• 27:06
  Speaker 10: in one unit and rent the other one out and
• 27:08
  Speaker 10: live for free. Right, But now with interest rates have
• 27:12
  Speaker 10: gone up, you know, prices have gone up, you may
• 27:15
  Speaker 10: not live in one unit and rent the one the
• 27:18
  Speaker 10: other one out and be living for free.
• 27:19
  Speaker 8: Right.
• 27:20
  Speaker 10: But at the end of the day, ownership is the
• 27:23
  Speaker 10: name of the game, right, I said, ownership is the
• 27:26
  Speaker 10: name of the game, right, all right, So at the
• 27:30
  Speaker 10: end of the day, own you some right. So with
• 27:33
  Speaker 10: that being said, if you are going to you know,
• 27:37
  Speaker 10: purchase a Monti unit, live in one unit, and then
• 27:40
  Speaker 10: rent the others out.
• 27:41
  Speaker 5: Even if you are not.
• 27:42
  Speaker 10: Going to live mortgage free, that is okay because you
• 27:46
  Speaker 10: are still going to be obviously making payments that go
• 27:49
  Speaker 10: towards your equity, and more than likely whatever it is
• 27:53
  Speaker 10: that your paying is going to be less than rent anyway.
• 27:56
  Speaker 10: So like that irks my nerves when people are like, man, well,
• 28:00
  Speaker 10: so you know, I'm not gonna live for free, So
• 28:03
  Speaker 10: I don't know if I should buy a multi unit, right,
• 28:07
  Speaker 10: because my te I'm not gonna be able to live
• 28:08
  Speaker 10: for free. You ain't living for free paying rent anyway, right,
• 28:13
  Speaker 10: It's never gonna happen.
• 28:15
  Speaker 5: And so your first purchase may not be.
• 28:17
  Speaker 10: That home run that you saw, you know, two three
• 28:20
  Speaker 10: four years ago, prior to the pandemic. But it will
• 28:23
  Speaker 10: set you up for future purchases if you do it
• 28:26
  Speaker 10: the right way. Right, the number one rule in real
• 28:28
  Speaker 10: estate is that you make money when you buy, all right,
• 28:31
  Speaker 10: So when you when you are analyzing your deals and
• 28:33
  Speaker 10: when you're running your numbers, and when you working with
• 28:36
  Speaker 10: very good, strong professionals who are helping you find the
• 28:39
  Speaker 10: deals and helping you get into these no money down
• 28:42
  Speaker 10: you know, grants and programs and all these assistance programs,
• 28:45
  Speaker 10: and you're essentially building wealth for free. Why would you
• 28:48
  Speaker 10: not take that opportunity, you know, to purchase a multi
• 28:51
  Speaker 10: unit and then, like I said, you can move out
• 28:54
  Speaker 10: and leverage and do that over and over and over again.
• 28:57
  Speaker 10: Right we talk about you know, people ask all the time,
• 29:00
  Speaker 10: how long do I have this day and a property
• 29:02
  Speaker 10: before I can move out? Well, again, the great thing
• 29:04
  Speaker 10: is that you can actually refinance out of that first property.
• 29:07
  Speaker 10: You can refinance it into a conventional investment loan and
• 29:11
  Speaker 10: then you can go and use the FHA loan again,
• 29:14
  Speaker 10: or you can go and use the VA loan again.
• 29:16
  Speaker 5: Year in to day, a year in a day.
• 29:18
  Speaker 7: Make some noise for ashaunas they got Noise for the Queen.
• 29:26
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 29:29
  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
• 29:34
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 29:38
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 29:42
  Speaker 1: some of the heinous migrant criminals caught because of President
• 29:46
  Speaker 1: Donald J.
• 29:46
  Speaker 2: Trump's leadership. I'm Christin Noman, the.
• 29:48
  Speaker 1: United States Secretary of Homeland Security. Under President Trump, attempted
• 29:53
  Speaker 1: illegal border crossings are at the lowest levels ever recorded,
• 29:57
  Speaker 1: and over one hundred thousand illegal aliens.
• 29:59
  Speaker 2: Have been and arrested.
• 30:00
  Speaker 1: If you are here illegally, your next you will be
• 30:04
  Speaker 1: fine nearly one thousand dollars a day, imprisoned and deported.
• 30:08
  Speaker 2: You will never return.
• 30:10
  Speaker 1: But if you register using our CBP home app and
• 30:13
  Speaker 1: leave now, you could be allowed to return legally.
• 30:16
  Speaker 2: Do what's right, leave now.
• 30:19
  Speaker 1: Under President Trump, America's laws, border and families will be protected.
• 30:24
  Speaker 3: Sponsored by the United States Department of Homeland Security,