Molly Phelan, property tax appeal attorney at Siegel Jennings, joins us to discuss the complexities of Cook County property taxes and how investors can protect their bottom line!
Molly breaks down the different methods used for property valuations. She explains what investors should know about the new Cook County Assessor Pat Hynes and how to effectively navigate the property tax appeal process. Molly gets granular on underwriting property taxes, estimating future tax liabilities on rehab projects, and understanding available incentives! She closes with her craziest tax appeal stories, and practical advice to help investors maximize their ROI!
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01:54 Housing Provider Tip - Understand when it makes sense to break a lease with a tenant!
03:40 Intro to our guest, Molly Phelan!
09:57 Property valuation methods and the new Cook County Assessor.
24:14 Underwriting property taxes on redeveloped properties!
29:00 Tax appeal strategies.
39:12 Pat Hynes’ economic development plan!
43:21 Estimating property taxes and incentives to be aware of.
55:55 Crazy tax appeal stories!
63:19 What’s your competitive advantage?
64:09 One piece of advice for new investors.
65:01 What do you do for fun?
65:32 Good book, podcast, or self development activity that you would recommend?
66:48 Local Network Recommendation.
67:22 How can listeners learn more about you and provide value to you?
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Connect with Mark and Tom: StraightUpChicagoInvestor.com
Email the Show: StraightUpChicagoInvestor@gmail.com
Guest Name: Molly Phelan
Guest Company: Siegel Jennings Property Tax Law
Guest Link: https://siegeltax.com/
Other Links for show notes:
