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In this episode of Straight Up Chicago Investor, we're thrilled to welcome back Mike Glasser, who sheds light on the proposed "Mansion" Tax and other legislative topics affecting housing providers in the Windy City.
Understanding the "Bring Chicago Home" Ordinance
Mike wastes no time in delving into the intricacies of the proposed "Bring Chicago Home" Ordinance, affectionately dubbed the "Mansion" Tax. He provides a comprehensive overview of the ordinance's intent and its potential ramifications on Chicago's economy. Contrary to popular belief, Mike argues that this tax won't just impact the affluent but will also have far-reaching consequences for housing providers, tenants, and everyday property owners.
Unpacking the Implications
As Mike elaborates on the ordinance's implications, it becomes clear that its effects extend beyond the surface. Housing providers, in particular, will face the daunting task of offsetting increased operating costs, primarily through rental income. This, in turn, could lead to higher rents for tenants and added financial strain for property owners across the board.
Advocacy and Advocacy
Throughout the episode, Mike's passion for advocating on behalf of Chicago's housing providers shines through. His unwavering commitment to protecting the interests of landlords and property owners underscores the importance of staying informed and engaged in legislative matters that directly impact the real estate industry.
Navigating the Landscape
In a city as dynamic as Chicago, navigating the legislative landscape can be a daunting task. However, with Mike Glasser as a guiding force, investors and housing providers alike can gain valuable insights into the potential challenges and opportunities that lie ahead.
Conclusion
As the episode concludes, one thing becomes abundantly clear: Mike Glasser's expertise and advocacy are invaluable assets to Chicago's real estate community. By arming ourselves with knowledge and staying actively involved in the conversation, we can work towards shaping policies that foster a thriving and equitable housing market for all.
Show Notes:
02:35 Housing Provider Tip: Be prepared with a checklist when starting ownership or management of a new property.
05:00 Intro to our guest, Mike Glasser.
10:23 Mansion Tax and other upcoming challenges for Housing Providers.
32:20 What can Housing Providers do to prevent the Mansion Tax?
34:34 Evanston’s Landlord and Tenant Ordinance.
41:14 Mike’s advice on how to get involved in Housing Provider Advocacy!
45:21 What is Mike’s competitive advantage?
46:09 One piece of advice for new investors.
47:27 What do you do for fun?
47:44 Good book, podcast, or self-development activity that you would recommend?
48:40 Local Network Recommendation?
49:41 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: Mike Glasser
Guest Company: Neighborhood Building Owners Alliance (NBOA)
Guest Link: https://nboachicago.com/
Other Links for show notes:
Michael Zink (Network Referral)
Show Sponsors:
Looking for a property manager?
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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