In today’s episode, we welcome, Mordy Chaimovitz (pronounced Chai-mow-its), he lives in Chicago, and now works for Weiss Properties, Inc. He was a 3rd-grade teacher for 11 years before he jumped head first into real estate, and he is excited to share his experiences with others.

In this episode, Mordy discusses the importance of having a strong relationship with a property manager in real estate investments. He explores how a good property manager can help you find reliable vendors, handle tenants, and maintenance issues, and potentially offer discounts on services and repairs. He discusses how economic uncertainty in each market. To learn more about Mordy and his work, listeners can visit LinkedIn!

[00:01 - 01:30] The Benefits Of Finding A Good Property Manager

• Mordy discusses how finding good property manager is priceless as they are a buffer between the owner and tenant

[01:31 - 11:55] Understanding The Bank’s Perspective On Underwriting In Uncertain Economic Times

• What makes a good property manager?
• Ask people who may have money to invest in your properties
• Consider a second job to support yourself while transitioning into real estate
• Speak with a banker to understand how they view the current economic environment
• Banks have different underwriting standards and may view deals differently
• Financing is an important factor to consider when looking at properties
• Local banks are great because they can easily access the property if something goes wrong
• Look at properties and consider what funding will look like

[11:56 - 17:19] Closing Segment

• Mordy shares his story from an 11-year teacher who left his job to pursue his passion in real estate

• To learn more about Mordy and his work, listeners can visit LinkedIn!

Tweetable Quotes:

“No matter what I was going to be doing, it had to be, for me, in the real estate world, I'm learning real estate. If I'm going to be working anywhere, it's not going to be, dishing out ice cream somewhere. It has to be something where I'm going to learn more about real estate.” – Mordy Chaimovitz

“For anybody who's thinking about not getting a property manager, think twice. Because my property manager paid for himself double more. It's very important.” – Mordy Chaimovitz

You can connect with Mordy Chaimovitz through his:

LinkedIn: Mordy Chaimovitz

LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode.

Are you confused about where to start? Join our community and learn more about real estate investing. Head over to our Facebook Page, Youtube Channel, or website https://www.theacademypresents.com/jointhesummit36848306.

Connect with Lorren Capital, LLC. for syndicated multifamily investments, https://lorrencapital.com/.

To learn more about me, visit my LinkedIn profile, and connect with me.