Adam Friedberg, CEO of Mavrek Development, joins us to discuss the ins and outs of large-scale developments in Chicago.
Adam starts by explaining how he started in real estate and hustled early on to learn development and value-add construction. He breaks down pitching development deals to investors and various methods for raising money. Adam talks about projects during COVID and how his team pivoted given the unforeseen circumstances. He gets granular on how to most efficiently cut construction costs without negatively impacting the quality of the final product. In typical SUCI fashion, Adam explains why he is doubling down on Chicago investments and why you should too!
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01:50 Housing Provider Tip - Simplify property management by setting expectations!
03:16 Intro to our guest, Adam Friedberg!
06:41 How to learn value-add construction in real estate.
10:35 Taking down commercial projects in Oak Park.
23:18 Pitching large development deals to investors!
27:10 Lessons learned from developments in 2020.
30:53 Acquiring The Saint Grand development.
37:20 Getting lean on construction costs.
44:14 Upcoming Mavrek developments!
55:31 Adam’s bullish outlook on Chicago!
57:53 What is your competitive advantage?
58:00 One piece of advice for new investors.
58:15 What do you do for fun?
58:53 Good book, podcast, or self development activity that you would recommend?
59:34 Local Network Recommendation?
60:33 How can the listeners learn more about you and provide value to you?
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Connect with Mark and Tom: StraightUpChicagoInvestor.com
Email the Show: StraightUpChicagoInvestor@gmail.com
Guest Name: Adam Friedberg
Guest Company: Mavrek Development
Guest Link: https://mavrekdevelopment.com/project/adam
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