Robert Waz of Exterplexy Real Estate & Management joins us to discuss the ins and outs of investing in the North Lawndale neighborhood.
Robert starts by explaining why he started investing in North Lawndale. He talks about unforeseen challenges and underwriting considerations so you’re accurately accounting for all expenses. Robert dives deep on the neighborhood including defining its boundaries, speaking to the different pockets of the neighborhood, describing the building stock, and sharing planned developments. Throughout the episode, Robert emphasizes the importance of being hands on with property management as a key to success in this neighborhood! She closes with strong words on the importance of getting involved with advocacy groups and being around like-minded, experienced individuals that can propel you and your portfolio to the next level!
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02:30 Housing Provider Tip: Be sure that your property’s exterior is sealed to prevent animals from getting in!
04:22 Intro to our guest, Robert Waz!
05:26 Why did Robert choose to start investing in North Lawndale?
06:31 Robert talks about his first property in North Lawndale!
08:20 What were some unforeseen challenges of investing in North Lawndale?
12:57 What was the timeframe of Robert’s first renovation project?
16:04 Robert talks about underestimating expenses in C/D class neighborhoods!
20:19 Robert talks about North Lawndale’s boundaries, building stock, and more neighborhood characteristics!
27:19 What are some ballpark numbers for rental properties in this area?
29:33 Robert discusses CHA vs Market rate tenants.
33:37 What are some developments going on in North Lawndale?
38:49 What do the next 2-3 years look like for Robert and his team?
43:22 What is Robert’s competitive advantage?
43:51 One piece of advice for new investors.
44:35 What do you do for fun?
45:52 Good book, podcast, or self development activity that you would recommend?
46:49 Local Network Recommendation?
48:10 How can the listeners learn more about you and provide value to you?
That’s our show! Thanks for listening!
Guest Name: Robert Waz
Guest Company: Exterplexy Real Estate & Management
Guest Link: [GUEST LINK]
Other Links for show notes: