John Casmon

Investing in Chicago’s South Side with Mark Ainley, Episode 85

Mark Ainley has rehabbed and stabilized over 450 properties and currently manages over 900 investment properties throughout the Chicagoland area. Mark is the co-founder of GCR&D, a full-service Real Estate Brokerage, Property Management, and real estate investment firm in the Chicago Market that consults with both local and out of state investors on the acquisition, stabilization, and management of their rental property portfolio. GCRI has become one of the premier turnkey companies in Chicago, working with both US and International investors.

Key Market Insights

Started investing back in 2003
Helps out of town investors looking on the South Side of Chicago
Porches in Chicago can be a challenge if not up to code
Preferred access to south side and cash flow opportunities
Implemented the BRRRR model starting out
Started by looking at the University of Chicago and their long-term expansion plans
Focus in Woodlawn and the 60617 zip code
Looked for a standard house to renovate and replicated the model
Started selling turnkey to international investors
Turnkey = renovated property with no capital improvements, market rate tenants in place
Turnkey has received a negative reputation
Ask about property management
GC Realty has taken over projects from other turnkey providers
Tips for turnkey deals – find property manager first, then find a turnkey provider, and ensure you get a home inspection
Every South side property right now is “near” the Obama library