Episode 148: Acquiring Distressed Real Estate by “Beating the Streets” in Chicago with Joe Sevcik

Are you struggling with deal flow in this market? Joe Sevcik drops in to share how Networth Realty is acquiring distressed properties and wholesaling to add value to their investors. Joe covers how his company is grinding it out by hitting the streets to get in front of motivated sellers. He talks about the mindset required to succeed in this space where rejection is commonplace. Joe dives deep into how his company is adding value to their investor clients by project values and construction costs to name a few things. This episode is full of nuggets on deal acquisition and things to keep in mind when looking for your next off-market, distressed property! If you enjoy today’s episode, please leave us a review and share with someone who may also find value in this content! Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: [email protected] Guest: Joe Sevcik from Networth Realty Link: Rich Dad Poor Dad (Book Recommendation) Link: How to Win Friends and Influence People (Book Recommendation) Link: Illinois Transfer Tax Info Sponsors: Kiser Group and Appeal.tax ----------------- Guest Questions 03:22 House Provider Tip: Be mindful of pest control and account for associated expenses! 06:35 Intro to our guest, Joe Sevcik! 07:30 What/who is Networth Realty? 08:02 What is Networth Realty doing to acquire deals? 10:42 How do Joe and his team stay motivated when marketing to sellers is unsuccessful a large portion of the time? 12:20 How is Networth Realty adding value to their investors? 14:50 How is estimating rehab costs different in Chicago compared to other locations? 19:06 What are some tips for investors looking for off-market deals? 21:40 How are Joe and his team following up with sellers? 25:27 Any cool or funny stories when acquiring these distressed homes?  26:15 What is an example of a deal that was difficult to close on? 27:27 How has the hot market impacted the business? 29:02 Who are the ideal clients/investors for Networth Realty? 32:56 What does the future look like for Networth Realty? 35:15 For someone interested in joining Networth Realty, what skills/qualities should they bring? Wrap Up Questions 37:15 What is Joe’s competitive advantage?  38:00 One piece of advice for new investors. 38:18 What do you do for fun? 38:47 Good book, podcast, or self-development activity that you would recommend?  39:40 Local Network Recommendation? 39:57 How can the listeners learn more about you and provide value to you? That’s our show! Thanks for listening! ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2022.