Aug 29, 2017
As the co-founder of Elite Invest, Alex Al-Sabah's efforts to
improve the housing stock within the South Side of Chicago were
recently profiled by Crain's Chicago Business. Though Alex is a
California native, he discovered an opportunity to fix up homes in
Chicago after creating a real estate valuation company to help
banks determine market prices for foreclosures. On today’s episode
of Target Market Insights, Alex shares his strategy for selecting
neighborhoods, uplifting communities, designing desirable rentals,
and working with investors.
Key Market Insights
- Chicago has great market opportunities despite negative
press
- Social impact on a neighborhood can create future opportunities
for residents to move from tenants to property owners, a win-win
situation
- Target Sub-Markets for Elite Invest: Woodlawn, South Shore,
Chatham, Chicago Lawn, Auburn Gresham, Greater Grand Crossing, Park
Manor, South Chicago
- Chicago is a renters’ city
- Elite Invest puts high-quality rentals on the market,
encouraging tenants to stay longer
- How Elite Invest acclimates potential investors to the Chicago
market: Has initial conversations about where and why they invest
in an area, Encourages them to visit, Conducts investor tours, Hold
in-person consultations about their investment goals
- Advice to outsiders looking to invest in Chicago: Be open and
objective about potential investments, Do your research, Identify
your ideal investment
- What Alex wants investors to know about Chicago: It’s still
priced right. Properties are likely to appreciate based on
fundamentals
- What Alex considers when assessing opportunities? Focuses on
neighborhoods and demand of tenants
- How Alex stays on top of market changes: Talking to residents,
property managers, owners, checking sites like Trulia, Zillow,
Google Street Maps
- One thing Alex does to stay focused on goals: Meetings with his
staff and listening to clients
Resources Mentioned
Crain’s Chicago Business Article featuring Alex Al-Sabah
Trulia
https://www.trulia.com/
Crain’s Chicago Business
http://www.chicagobusiness.com/
Zillow
https://www.zillow.com/
Tweet This:
“Your dollar goes a lot further in the Midwest, Chicago being
the 3rd largest metro certainly attracted us.”
“We make it feel like home, but to a renter so they stay
longer.”
Places to Grab a Bite in Chicago:
Gibsons Bar and Steakhouse https://www.gibsonssteakhouse.com/
Giordano’s Pizza https://giordanos.com/
Connect with Alex:
Website: http://www.eliteinvest.com/
LinkedIn: https://www.linkedin.com/in/alex-al-sabah-532066135
Email: info@eliteinvest.com
Partners:
The Best Real Estate Investing Advice Ever Podcast – joefairless.com/show