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

from Straight Up Chicago Investor · host Mark Ainley and Tom Shallcross

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 Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: [email protected] Sponsor: Smith REO Guest: Sean Morrissey of Chicago Realty Group LLC Link: Tony Angelos: BP Profile | Email: [email protected] | Cell: (708) 627-9702 Link: Aurora Economic Development | Invest Aurora: Homepage Link: Home Ownership Support | The Neighbor Project Link: Aurora Tech Investment | 605 Innovation District Link: Towns with multiple schools Link: Sean's Podcast | ‎Landlording for Life on Apple Podcasts Link: Podcast recommendation | Real Estate Investing Podcast for Passive Wealth Link: Podcast recommendation | Cash Flow Connections Link: Network Recommendation | Brandon Svec - Director - Market Analytics - CoStar Group ----------------- Guest Questions Landlording Tip of the Week 2:15 Guest Intro 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 Questions 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 That's our show, thanks so much for listening! ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2020.

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This episode was published on October 15, 2020.

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