All Forum Posts by: Andrew Dorazio

Welcome Bruno! 

I have been buying small - mid sized multi family in Chicago for the past 8 years or so. Happy to connect and share my experiences. Can probably save you some headaches!

Understanding the current market state is critical before buying, selling, or investing. At this event Jason Wagner will discuss his "Wagner Report" which delivers a detailed Chicago market analysis, including neighborhood and housing trends, to enable smarter decision-making for agents, clients, and investors alike.

RSVP for the event here: https://www.meetup.com/chicago-veterans-military-real-estate...

Thanks so much for the feedback everyone!

My team and I have a very small property management wing of our investment company (25 units) in Chicago and are looking to grow over the next year. Looking for recommendations on what software is best based on its:

- User interface experience (manager, tenant, owner)

- Price

- Ability to allow me to start small and scale

Would appreciate any suggestions from the community here. 

Thanks!

@Frankie B.

Awesome man. Where in Chicago is it?

@Caressa Wilkinson we converted our Airbnb units to long term rentals in Chicago at the beginning of the pandemic. Before hand and self managing we were getting a 30% premium over long term rental prices but you get crushed in the winter months. With demand in chicago down STRs in my opinion don’t make sense right now and it’s very restrictive because of property type, whether you live in the building and zoning. If you are in a prime location and live in the building and it’s a 2-4 it may be worth it but I would get some better demand data on airdna just to verify.

@Luka Milicevic we are running about 70-75% of where we were in 2019 but getting a lot of Q1 2021 bookings right now so hopeful we will be in good shape coming soon

@Keith Courtney I agree I think there are definitely some markets missing here (or at least ones I thought would be on there).

@Jonathan Klemm we had a few in Chicago and pivoted to furnished long term rentals when Covid broke out. Would love to hear how yours does going forward in Chicago. Assuming alot of people got out of the business in April / May when there was like zero demand (which would work out well for new entries into the market).

@Michael Baum I agree with rural as well. I have been looking in more rural areas to see if there is opportunity to buy some land and build tiny houses or yurts or something. 

Thanks for the input everyone!

@Jason Reece congrats! I am investing in Nashville as well. Let me know if you want to connect

Curious on everyone's thoughts on what markets are going to dominate in the short term rental world in 2021? 

I have reviewed some of the Airdna lists and would love to see where other's are investing / having success. I am only in larger markets now (Nashville / Chicago) but want to pivot towards more up and coming markets. 

Here is the what airdna shows for up-and-coming, mid-sized and large size markets.

Best Places to Invest in Vacation Rentals in 2020+2021 (airdna.co)