Episode 77: Screening, Operating, And Understanding Chicago's West Side

Roman Viere manages and operates over 900 apartment units, and the majority of these units are in Austin. Austin is geographically Chicago's largest neighborhood and offers everything from a 9-hole golf course to struggling store fronts. It takes a hands-on approach to analyze, screen and operate in a neighborhood like Austin, and Roman provides tactical insights and street-level knowledge useful to anyone looking to scale on Chicago's West Side.  Did you learn something new from this episode? Please share it with a friend and leave us a review! Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: [email protected] Guest: Roman Viere from Urban Alternatives Sponsor: Perry Farella of Prime Lending   Sponsor: Appeal.tax Link: Greater Austin Development Association Link: Neighborhood Building Owners Alliance Link: Oak Park Regional Housing Center Link: West Cook Housing Homeownership Services Link: Am I Being Too Subtle? by Sam Zell Link: Devil In The White City by Erik Larson Link: Phillip Moore - Senior Law Officer at CIC Link: Summer Soiréé ----------------- Guest Questions Guest Intro 4:45 How did you get started in Austin? 5:16 What are the different pockets of Austin and what can it do for an investor? 7:09 Why are most opportunities on Washington Blvd? 9:14 Why is the cap rate in Austin higher? 9:56 What are red flags when screening C and D class incomes? 14:01 What vacancy factor should I use in Austin? 16:16 What maintenance factor should I use in Austin? 17:25 How do you handle chargebacks? 20:49 What is the price per door right now in Austin? 22:07 How have you adjusted your business based on the economy? 23:53 What is the upside to investing in Austin? 26:27 How have you become a part of the community in Austin? 31:11 What is the minimum amount of doors I need to be successful in Austin? 33:25 Why buy in Blue Island? 39:02 Wrap Up Questions What's your competitive advantage? 41:22 Advice for new investors? 42:08 What do you do for fun? 43:24 Self development activity? 44:03 Local network recommendation? 44:58 How can we learn more about you? 45:49 Thanks for tuning into our show! If you want to make the most of your investment, connect with us at https://www.gcrealtyinc.com/. ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2021.