Tango Sur - BYOB Argentinian Steak House
Sapori Trattoria - my favorite Italian spot
Dry Hop Brewers
Any of the parlor pizzas
Ann Sathers - best cinnamon rolls in the city. Maybe the world. I’ll die on this hill.
Pequods Pizza
There’s too many to name. But these were a few of my wife’s and Is go to spots when we lived in the city.
Higher rates makes getting deals done harder for sure but it’s also going to eliminate a lot of competition and present some very interesting opportunities.
Seasoned operators will thrive in this environment while the guys who watched one too many @GrantCardone YouTube videos will probably get squeezed out.
@Travisjost1 Flip side in Chicago. Talked with a downtown SFH/Condo developer yesterday. They can’t build enough to meet the demand.
Same thing out in the burbs. Builders in my town have buyers lined up before they even can get a shovel in the dirt.
@AJManaseer The City needs to get out of it's own way. They say they want more housing. Then do everything in their power to make it as hard as possible for developers to develop more housing. Makes no sense.
@dig_deeper1 Lender our group works with has a 30-year fixed rate with the first 10 years being Interest Only. This is only for 2-4 unit properties. Shoot me a DM and I can make an intro.
@realEstateTrent Hard to find good PMs in general let alone someone who's willing to make a career out of it. You hang on to those people for dear life when you get one.
Not every deal needs a full gut. Sometimes the money's in a clean light lift.
Bought this 6-unit walk up in West Town for $2M. Tree lined streets, restaurants, bars, shops, transit all walkable.
Building was gutted 10 years ago so everything behind the walls was solid. Was grossing $162k/year when we bought it. Buying at a 5.75% cap rate doesn't normally make sense for most value-add plays, but we knew the building had potential.
Budgeted $450k for the rehab, finished 6 months early and under budget.
Now grosses $331,980/year, valued at $3.63m. (6.5% cap, 5% vacancy, 25% expense ratio.)
Whether you're investing or just love this stuff, always happy to talk shop. DMs are open.