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In the latest episode of the Straight Up Chicago Investor Podcast, Mark takes the helm as solo host and delves into a captivating conversation with a very special guest—Tom Shallcross. Tom, a seasoned flipper, investor, and co-host of the SUCI podcast, takes us on a journey through his childhood and upbringing in Portage Park, offering a unique perspective on the neighborhood's intricacies.
Mark kicks off the show by steering away from the traditional real estate talk, opting instead to unravel the layers of Tom's early life in Portage Park. The discussion unfolds into an exploration of the differences between Jefferson and Portage Park, providing listeners with insights into the foundation of Tom's real estate journey.
Tom takes the audience on a street-level tour of Portage Park, breaking down the neighborhood into its lesser-known and more desirable pockets. Listeners gain valuable knowledge on rents, property values, and the overall dynamics of the area. This deep dive serves as a compass for real estate enthusiasts, helping them navigate the intricacies of this Chicago neighborhood.
The episode continues with Tom dissecting Portage Park's schools, shedding light on the educational landscape and how it influences the real estate market. As the discussion unfolds, the duo explores the various streets, their unique characteristics, and how they contribute to the neighborhood's charm.
In a powerful closing segment, Tom shares words of wisdom on committing to success in the real estate realm. He encourages listeners to leverage the plethora of resources that he and Mark have tirelessly put out through the SUCI podcast. The episode concludes with a motivational push, inspiring aspiring investors to take charge of their real estate journeys.
Key Takeaways:
Gain insights into Tom Shallcross's childhood and upbringing in Portage Park.
Navigate the streets of Portage Park with a street-level breakdown of lesser-known and desirable pockets.
Understand the dynamics of rents, property values, and schools in the neighborhood.
Receive powerful motivation and encouragement from Tom on succeeding in real estate.
The Straight Up Chicago Investor Podcast once again delivers an episode filled with valuable insights and a personal touch. Mark's solo hosting and Tom Shallcross's candid revelations provide listeners with a holistic view of Portage Park, making this a must-listen for anyone interested in the Chicago real estate scene. As Tom aptly puts it, success in real estate is about commitment, and this episode serves as a roadmap for those ready to embark on their journey. Tune in, take notes, and leverage the knowledge shared by these seasoned investors.
Watch Straight Up Chicago Investor Podcast Episode 235 in Full Here
Questions We Answer In this Show:
Q. The Priceless Power of Location
Q. Why Portage Park is the Perfect Steady Real Estate Investment Opportunity
Q. Navigating the maze of rehab investment costs
Show Notes:
01:00 Housing Provider Tip: Ensure you’re adding sewer backup to your insurance policy.
02:51 Intro to our guest, Tom Shallcross!
04:02 What was young Tom like?
10:58 Portage Park vs Jefferson Park.
12:01 Breaking down Portage Park!
21:04 The original Six Corners!
28:14 Schools in Portage Park.
29:40 Tom’s investment strategy.
35:32 Price points in Portage Park.
37:42 Opportunities for Additional Dwelling Units (ADUs)!
41:53 Rent Values in Portage Park.
49:29 What is Tom’s competitive advantage?
50:07 One piece of advice for new investors.
50:16 What do you do for fun?
51:40 Good book, podcast, or self development activity that you would recommend?
53:01 Local Network Recommendation?
53:51 How can the listeners learn more about you and provide value to you?
Connect with Mark and Tom: StraightUpChicagoInvestor.com
Email the Show: StraightUpChicagoInvestor@gmail.com
Guest Name: Tom Shallcross
Guest Company: Straight Up Chicago Investor
Guest Link: https://www.instagram.com/tshallcross723/
Other Links for show notes:
The Road Less Stupid (Book Recommendation)
The Ruthless Elimination of Hurry (Book Recommendation)
chicago's adu ordinance - what investors need to know
Chicago Investor Resources Shared
What You Must Know About Renting Your Property In Schaumburg
Survival Guide For Self Managers - 15 Tips Chicago Landlords Must Know(Especially House Hackers)
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