Building INCREDIBLE Cash Flow Through Out of State Investments

Real Deal Investing

In this episode of "Real Deal Investing", hosts Jerron Kelley, a seasoned real estate attorney, and Larry Mastropieri, a real estate broker and agent, talk with representatives from Steneth Capital, Dr. Leon Stenneth and Sebastian Zaba.
Dr. Leon and Sebastian provide detailed insights into their real estate investment strategies, focusing on two specific properties. The first property, a ten-door investment acquired for $535,000, exemplifies their approach to generating immediate positive cash flow. By renovating one unit, enhancing common areas, and carefully managing rent increases, they achieved a profit of $2,000 by year-end, showcasing their ability to strategically enhance property value.
Transitioning to their second property, a 12-unit building purchased for approximately $600,000, Steneth Capital shifted to in-house management using Upfolio software. This move is reflected in the notable increase in operating income, underlining their commitment to streamlining processes and maximizing efficiency.
Key to Steneth Capital's success is their unique approach to subsidies and market positioning. They actively engage in direct marketing campaigns targeting agencies that provide subsidies, ensuring a steady influx of tenants with reliable payment structures. Additionally, they emphasize the importance of fostering strong relationships with brokers to maintain a consistent deal flow. Dr. Leon and Sebastian highlight the significance of not only buying in similar neighborhoods but also establishing a reputation for closing deals, prompting brokers to proactively bring opportunities their way.
Property details, such as market rates, rent structures, and specifications, provide a comprehensive understanding of Steneth Capital's tenant-friendly property management approach in Chicago. The speakers share insights into the city's eviction process, emphasizing its efficiency with a timeline of two to three months for completion. They touch on various aspects of property management, including rent control discussions and utility arrangements, offering a well-rounded view of their operations.
The conversation concludes with mutual appreciation for the insightful discussion. The synthesis of strategic investments, hands-on management, and proactive sourcing through brokers underscores Steneth Capital's commitment to creating a profitable venture for both themselves and their investors. Their ability to adapt strategies for different properties, leverage technology for efficient management, and actively engage with brokers positions them as a dynamic and successful player in the real estate investment landscape.
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Connect with Jerron: Jerron Kelley, Esq. www.kelleygrantlaw.com
Connect with Larry: Larry Mastropieri www.floridahomesbocaraton.com
Connect with Dr. Leon: Dr. Leon Stenneth President 312-772-8429 [e-mail] stennethcapital.com
Connect with Sebastian: Sebastian Zaba Vice President - Syndication and Joint Ventures 708-415-2598 [e-mail] stennethcapital.com