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Welcome to Target Market Insights. A podcast to help real estate investors navigate neighborhoods through the lens of local experts. In each episode, we speak to local specialists to learn about their market, useful tips, and the latest trends and developments. This show is designed to help you with the insights you need to win your target market.

Jan 28, 2020

Shawn Good is a second-generation attorney in Palatine, IL, just outside of Chicago. He started practicing real estate litigation when a real estate broker in his building needed an attorney. He works with investors to protect them and close deals.


As an investor, Shawn owned two condos before exchanging them for an 8-unit building in Lake County. He shares how he transitioned from owning a condo to commercial multifamily, pitfalls of investing in condos and his plans to continue to grow. 


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Key Insights

  • Started practicing real estate litigation because there was a real estate broker in their building who needed an attorney. 
  • Owned two condos, sold and 1031 exchanged into an 8 unit
  • Things to monitor when buying a condo as an investment: bylaws, on-site management, budgets, reserves, association dues paid, meeting minutes, 22.1 disclosure (in IL)
  • Bought an 8-unit in unincorporated Lake County
  • Property was his friend’s grandmother’s property
  • Unincorporated = county oversees local municipalities instead of city/township 
  • Signs new leases at his attorney’s office - adds more professionalism and sets the tone to build rapport
  • Biggest difference in commercial property vs. condo - managing logistics, landscape, snow removal, trash removal, rekeying, etc.
  • Operations for the 8-unit are exceeding rent projections
  • Make sure you have a skilled underwriter when reviewing multifamily deals 


Partner: Download a Free Sample Apartment Deal Package 


Bull’s Eye Tips: 


Most Recommended Book:

The Snowball: Warren Buffet and the Business of Life by Alice Schroeder 


Most Recommended Digital/Mobile Resource:

Google Docs


Daily Habit:

Getting the Right Amount of Sleep


Apparent Failure:

Saw his health issues as a failure, but it provided gratitude and purpose


Wish I Knew When I Was Starting Out

That multifamily is an option


Advice for a Smart, Driven College Student:

Learn from people who are doing it


Current Curiosity:



Best Place to Grab a Bite in Chicago:

Tuxpan in Norwood Park


Connect with Shawn:


Website: Good Bros Property on Facebook


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