All Forum Posts by: Tony Hardy

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $1,050,000
Cash invested: $250,000

Portfolio of 6 flats

What made you interested in investing in this type of deal?

Cashflow

How did you find this deal and how did you negotiate it?

I'm a broker, was hired to sell it decided to buy it

How did you finance this deal?

Traditional Bank Financing

How did you add value to the deal?

10 year

What was the outcome?

Great property doing well during the pandemic

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

US Bank Financed it but no longer lending on Multis sense Covid

I'd like to thank Brie and John for putting the Midwest Real Estate Summit together and organizing our discussion.  John a master moderator made the discussion flow at comfortable pace.  We unpacked a ton of things, from the impact of Covid, the protest and the current state of the market.  The perspective that Matt and Dan brought really added a depth to the conversation, thats as close to a cristal ball as you'll find in understanding where we are in this cylce.  Thank you

Bigger Pocket Members can get a discount at check out using Promo Code: DealJunky20

Deal-Junky Events is pleased to announce the 2nd annual, US Bank Multifamily Investor Summit 2.0, January 11, 2020 at the Harris School of public Policy, University of Chicago campus. Commercial Real Estate Practitioners and successful Business Owners will network, share best practices and exchange ideals about rocket starting 2020.

The Discussion will include a Fireside Chat with Barrington Rutherford Senior Vice President Real Estate and Community Out Reach at Cresco Labs. Cresco is the 2nd largest marijuana company in the United States, headquartered in Chicagoland is listed on the Canadian Stock Exchange and operating in 12 States. We'll also discuss how they are making a social impact by helping minority owners enter the business and the opportunities and challenges with legalized recreational marijuana as it intersects with commercial real estate in Chicago and Illinois.

We'll also here from Brandon Svec Director and Midwest Market Economist at CoStar Group. Brandon will recap the Chicagoland market for 2019 and tell us what to expect in the Real Estate Market in 2020. Moreover, he'll discuss the impact of the Fiscal Status of Chicago & Illinois on Commercial Real Estate and delve into the burdens and benefits of new and proposed legislation on real estate. CoStar, the world leader in commercial real estate information, has the most comprehensive database of real estate data throughout the US.

We'll get a Capital markets update from Jack Crane Director of Lending and Senior Vice President at Community Investment Corporation. CIC is Chicagoland’s Leading Multifamily Rehab Lender. CIC provides financing and education to buy and rehab apartment buildings in the 6-County Chicago area.

Eiran Feldman, President of South Side Community Investors Association. Eiran will tell us what SSCIA has been up to as well as discuss the ins and outs of investing on the South Side of Chicago. SSCIA, is part of the Neighborhood Building Owners Alliance, a network of property owners that own and operate more than 10 Billion dollars of real estate throughout Chicagoland.

Wendell Harris, Vice President of Lending Operations at Chicago Community Loan Fund, will discuss how Social Impact Lending has benefited communities throughout Chicagoland to the tune of $300,000,000. CCLF provides flexible, financing directed to assist the stabilization and development efforts & initiatives that benefit low-moderate income neighborhoods, families and business throughout Chicagoland. Their loans often fill credit gaps that few other lenders cover.

Sarah Ware, Principal Managing Broker at Ware Realty Group, Co-Chair of CommercialForum, will discuss opportunities for your get involved with Commercial Forum as well as the ups and downs of running your own MBE/WBE business in Chicago. CommercialForum (CF) is the commercial division of the Chicago Association of REALTORS® and, with nearly 4,000 members, Chicago’s largest commercial real estate community. CF provides brokers, owners, managers, developers, REALTORS® and non-REALTORS® access to legislative influence, education & professional development, tools & resources, and networking opportunities.

Tony Hardy, Senior Associate Marcus Millichap, 2020 Chairman of CommercialForum, will discuss the advantages and challenges in investing Opportunity Zones in Chicagoland. Tony leads a The Hardy Group at Marcus Millichap a team focused on Commercial Real Estate Investment covering Chicago’s South Side as well as Lake County, Cook County and Northwest Indiana. Marcus & Millichap is the largest national commercial real estate brokerage firm specializing in real estate investment services with over 80 offices throughout the United States and Canada closed $46.37 Billion in the last 12 months.

Mark Buford, Vice President at Lima One Capital, will Dive into fix and flip investments, building a network of contractors, determining the after-repair value, risk tolerance in short term lending. Lima one is The Nation’s Premiere lender for Investors, priding themselves in quick closings, for multifamily and fix and flip 2 – 4-unit assets nationwide. Lima One Capital is truly revolutionizing investment real estate finance. Their team recognizes the role that social & economic impact lending has in the communities you invest in.

US Bank, is sending in its Dynamic Duo, Louie Kontos Vice President & Senior Relationship Manager & Eric Schwaighart, Vice President and Business Banking Officer. Eric & Louie will discuss leveraging, their common-sense underwriting platform to take-out short-term debt and partnering with US Bank to grow your portfolio in acquisitions and refinances. US Bank a leading commercial and corporate lender. They have a wide array of lending solutions suited to fit your current need from lines of credit, to asset-based lending programs. Strength and stability for your peace of mind. Their best-in-class ratings and dedication to making ethical decisions mean US Bank is a bank you can trust regardless of economic fluctuations. And that’s earned us the distinction of being repeatedly named one of the World’s Most Ethical Companies® by Ethisphere.

After, this action packed discussion V.I.P. guest, speakers and select owners will travel to a local brewery to mix network and listen to live music.

Additional Info: https://deal-junky.com/services/

See below for special offer for Bigger Pockets members

The 2019 Chicagoland Investor Spring Experience is coming soon. It's taking place at the Wild Blossom Winery in the Beverly neighborhood on Chicago's south side. There will be unique round table style discussions focused on rent control, investing in opportunity zones, 1031 Exchange, securing business lines of credit, rehab lending and other topics. After the program, there will be networking, food, and mystery wine tasting. A cigar friendly patio is onsite as well so feel free to bring your favorite cigar. While you're at it, stop by the caricature artist and get a personalized portrait! There will also be a wine making class and participants will be given thier own customized bottle of wine. The space is limited for the wine making class and spots will be awarded on a first come first serve basis. A full list of the subjects covered is listed below.  Eventbrite link for tickets is also below.

https://www.eventbrite.com/e/us-bank-chicagoland-investor-spring-experience-access-to-capital-tickets-56308369850

Topics to be covered

1. 1031 Exchange

2. Investing in opportunity zones

3. Accessing business lines of credit

4. Capital raising techniques

5. Joint venture partnerships

6. Deal analysis

7. Value add opportunities

8. Shifting from residential to commericial investments.

9. Growing your portfolio

10. Rehab lending products

Bigger Pockets members can enter the promo code POCKETS at checkout for a 25% discount on admission.

Join us and other multi-family investors for a live broadcast on Illinois Rent Control legislation and a panel discussion with industry experts on how property owners can combat this agenda. There will also be a presentation on how you can take advantage of investing in opportunity zones.  Lunch will also be served with networking to follow. For your convenience there will be two presentations.

1. Wednesday March 20th from 11:00 am - 2:30 pm at East West University 819 S. Wabash Ave. Chgo, IL

2. Thursday March 21st from 11:00 am - 2:30 pm at Eddie Merlot's Restaurant 185 N. Milwaukee Ave. Lincolnshire, IL

Schedule

11:00 am - 11:30 am Registration & Networking

11:30 am - 12:00 pm Lunch

12:00 pm - 1:00 pm Webcast stream of Rent Control legislation hearing

1:00 pm - 1:20 pm Remarks

1:20 pm - 1:50 pm Forum panel + Q & A session

1:50 pm - 2:30 pm Networking

See Eventbrite link below and www.biggerpockets.com members can use the promo code POCKET for discounted admission

https://www.eventbrite.com/e/illinois-rent-control...

E-mail: [email protected] with any questions

Chicagoland Multi-family Investor Summit is an opportunity for small and midsize multi-family investors to network and exchange ideas with industry experts about taking their investment portfolios to the next level. The event will feature pre event networking with sponsors, speakers and select investors prior to the main event. The main event gives you the opportunity to step into the ring with the industry experts. There will be presentations featuring the top professionals from all sectors of real estate, investor panels and breakout sessions. When the main event concludes, there will be post networking at a local brewery. This will include a tour of the brewery along with food and craft beer.

https://www.eventbrite.com/e/chicagoland-investor-summit-tickets-52238452618

Chicagoland Multi-family Investor Summit is an opportunity for small and midsize multi-family investors to network and exchange ideas with industry experts about taking their investment portfolios to the next level. The event will feature pre event networking with sponsors, speakers and select investors prior to the main event. The main event gives you the opportunity to step into the ring with the industry experts. There will be presentations featuring the top professionals from all sectors of real estate, investor panels and breakout sessions. When the main event concludes, there will be post networking at a local brewery. This will include a tour of the brewery along with food and craft beer. Companies interested in purchasing group packages can inquire by e-mail at [email protected] or call (866) 996-1974.  The link is listed below.  Act now to take advantage of early bird ticket prices.

https://www.eventbrite.com/e/chicagoland-investor-summit-tickets-52238452618

@Huso Akaratovic I’m a Commercial Real Estate Broker. I flip several single family and two flats each year. I am capable of selling those properties myself however, I typically higher a residential agent to do the work for a number of reasons. I typically pick tbe agent that I knkw will wlrknhard for me or that has marketshare in that market to represent me 1) they are in the talking to the lenders regularly, so if they are closing deals lenders are chasing them to prove they can get there deals over the finish line. 2) if they’re active in that sub market, they are already in communication and probably have been showing the buyers properties and perhaps writing offers for them. 3) I find it easier to negotiate the offers through a broker than direct with the buyer. I often tell the brokers to counter the initial offer $1,000 under list and see how they react. I think if I did this directly, it would offend or scare the buyer away. 4) owners trying to sell their own properties often look desperate or are judged by the prospects. You want it to be about the property not you. Also, you tylically don’t get access to the entire network of brokers and buyers, just telling a broker to bring you a buyer. The only way to maximize exposure is to hire a broker to put it in the mls and hold them accountable. Finally, I have enough on my plate already, most of the time, I think my broker adds more value than the commission Inpay them especially, when I consider my opportunity costs. I hope this was helpful.

Chicagoland Multi-family Investor Summit is an opportunity for small and midsize multi-family investors to network and exchange ideas with industry experts about taking their investment portfolios to the next level. The event will feature pre event networking with sponsors, speakers and select investors prior to the main event. The main event gives you the opportunity to step into the ring with the industry experts. There will be presentations featuring the top professionals from all sectors of real estate, investor panels and breakout sessions. When the main event concludes, there will be post networking at a local brewery. This will include a tour of the brewery along with food and craft beer.  

BiggerPockets.com members use the promo code: CAPRATE for an additional discount for Black Friday pricing available thru the end of Cyber Monday (11-26-18).  Act now, seating is limited. Questions can be sent via e-mail to [email protected]

Copy and paste link into your browser for tickets or visit www.eventbrite.com and search ''Chicagoland Investor Summit''

https://www.eventbrite.com/e/chicagoland-investor-...

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