Video: Andrew Dorazio discusses the framework for purchasing multifamily and investment properties in Chicago’s volatile 2025 market.
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ALRIGHT GUYS SORRY
I DON'T MEAN TO UH
BREAK UP THE UH
THE CONVOS BUT I'M GONNA
I'M GONNA START START CHATTING
CAN EVERYBODY HEAR ME OK YEAH
YEAH OK
I'LL TRY TO USE MY BIG BOY VOICE AS BEST AS POSSIBLE
THIS PLACE DOESN'T HAVE THE BEST ACOUSTICS
BUT UH
UM I'M GONNA
I'M GONNA I'M GONNA CHAT TODAY
THERE'S A THERE'S A COUPLE THINGS ON THE AGENDA
BUT I'M GONNA TELL MY STORY A LITTLE BIT UH
JUST TO GET EVERYBODY ACQUAINTED KIND OF WITH UH
YOU KNOW MAYBE CREDENTIALIZE MYSELF
I DON'T KNOW IT GETS YOU GUYS REALIZE THAT IF
IF IF I COULD DO IT
ANYBODY COULD DO IT RIGHT
UM BUT I WANNA TALK A LITTLE BIT ABOUT MY REAL ESTATE JOURNEY UH
I WANNA TALK ABOUT SOME THINGS THAT I WISH I KNEW 10 YEARS AGO
15 YEARS AGO WHATEVER THE MATH IS UM
AND MAYBE ENCOURAGE ONE OR TWO OF YOU TO TO
YOU KNOW TAKE THAT LEAP OF FAITH IN REAL ESTATE IF YOU HAVEN'T ALREADY
UM AND THEN KIND OF GO INTO MY THOUGHTS ON CHICAGO AND
AND WHERE WE'RE KIND OF LIKE
OPPORTUNISTICALLY BUYING STUFF HERE AND WHAT WE'RE DOING SO
UM
SHOW HANDS WHO HERE IS ACTIVELY ALREADY PURCHASED REAL ESTATE BEFORE
IN THEIR CAREERS
IT'S GOOD UH
GOOD GROUP ALRIGHT
ALRIGHT ALRIGHT
SO I THINK I COVERED THIS A LITTLE BIT
BUT I'LL COVER MY STORY THIS IS GONNA BE THE MOST BASIC UH
SLIDESHOW YOU GUYS HAVE EVER SEEN
BUT UM QUICK BACKGROUND
MY STORY
I GOT OUT OF COLLEGE IN 2007 AND MY FIRST REAL ESTATE PURCHASE UH
WAS A FOUR FLAT IN TEXAS UH IN 2008
SO ANYBODY WAS A A LOT OF YOU GUYS ARE YOUNG HERE
BUT IF YOU REMEMBER 2008 NOT A VERY UH UH UH GOOD TIME
UH TO BUY REAL ESTATE
EITHER I WAS AT THE
THE TOP OF THE MARKET OR ON THE SLIDE DOWN SO LUCKILY
UM
EL PASO TEXAS
FORT BLISS SURVIVED THE ANY BRACLESS CUTS
AND 1ST ARMOR DIVISION GOT CUT FROM GERMANY AND MOVED THERE
SO THEY ADDED ABOUT 40,000 TROOPS AND UM
AND FAMILIES TO THE MARKETPLACE
SO EL PASO DIDN'T REALLY UH
EXPERIENCE A HUGE DOWNTURN
SO I KIND OF LIKE DODGED A BULLET THERE
BUT LENDING PRACTICES SHIFTED TREMENDOUSLY
UH AT THAT POINT AND OUR OUR RESIDENT EXPERT LENDER HERE
CRAIG COULD PROBABLY TELL YOU THAT IT WAS A IT WAS VERY STRANGE UH
TIME BUT I BOUGHT A 4 FLAT USING THE LLC UM
AT 7% INTEREST AT THAT POINT IN TIME AND I YOU KNOW AGAIN
A LOT OF MISTAKES DIDN'T REALLY KNOW WHAT I WAS DOING
I READ A FEW BOOKS I READ RICH DAD
POOR DAD AS MANY OF YOU GUYS HAVE PROBABLY READ BEFORE AND UH
AND I WAS 22 AND I THOUGHT I KNEW UH
I THOUGHT I KNEW WHAT I WAS DOING
SO LET ME JUST TRY TO FIND A BETTER SEAT FOR MYSELF UM
I DIDN'T KNOW WHAT A VA LOAN WAS AT THE TIME RIGHT
SO UH I WAS SITTING AROUND MY BUDDIES AND I WAS LIKE OH
ISN'T THAT YOU KNOW A LOAN WHERE THEY GIVE YOU SOME MONEY
AND YOU COULD COMBINE OUR LOANS TOGETHER
MAYBE WE COULD BUY SOME PROPERTY
I HAD NO IDEA WHAT I WAS DOING SO UM
AND BUT I DID THAT
AND I BOUGHT A PROPERTY AND I KIND OF HELD ON FOR DEAR LIFE FOR
FOR A WHILE
AND I LEARNED AS I WENT AND YOUTUBE WAS STILL PRETTY YOUNG
AND I FIGURED OUT HOW TO PAINT AND FIX THINGS AND
AND THEN KYLE FIX STUFF FOR ME SOMETIMES BACK THEN 15
20 YEARS AGO UM
YEAH SO UM
SO DID THAT I WENT TO A BUNCH OF BANKS
AFTERWARDS TO TRY TO FIGURE OUT HOW TO REFINANCE THIS THING
NO BANKS WOULD GIVE ME ANY MONEY
SO I REALIZED OKAY IF I'M GONNA UH
IF I'M GONNA GROW THIS THING I NEED ACCESS TO CAPITAL
SO I STARTED TO PARTNER WITH FRIENDS AND FAMILY
SO I DIDN'T DO ANYTHING FOR A WHILE
I BOUGHT A COUPLE SINGLE FAMILY HOMES IN BETWEEN THEN BUT 2013
I HAD A W2 AT THE TIME
AND I STARTED PARTNERING WITH SOME FRIENDS AND FAMILY TO BUY
SOME OTHER MULTI FAMILY STUFF
AND I LEARNED THEN THAT LIKE BUYING 5 UNITS
PLUS WAS ACTUALLY EASIER THAN BUYING 2 TO 4 UNIT BUILDINGS
UH WE'LL CATCH MORE ON THAT LATER
BUT UM
GOT MY MOVED TO CHICAGO IN 2013
GOT MY REAL ESTATE LICENSE IN 2015
MORE SO TO LIKE
JUST LEARN ANOTHER SIDE OF THE BUSINESS AND GET ACCESS TO
TO DEALS AND AND NETWORK AND AND AND JUST DATA AND INFORMATION
AND I REMEMBER DRIVING AROUND THE CITY IN 2015
IN LOGAN SQUARE IN PARTICULAR
AND SAYING LIKE OH
THIS PLACE IS HOT NOW I THOUGHT IT WAS OVERPRICED
AND YOU KNOW YOU LOOK BACK AND YOU'RE LIKE GOD
THAT WAS A SILLY SILLY THOUGHT TO HAVE THEN
2017 WE STARTED BCG REAL ESTATE GROUP
WHICH MY TWO PARTNERS AREN'T HERE
THEY'RE UH NORMALLY ARE
BUT JOEY'S IN UH FLIGHT TRAINING IN UH
IN TEXAS AND JD'S TAKING CARE OF HIS KIDS TONIGHT
SO UM
I'M ARMY GUY JD'S NAVY GUY AND JOEY'S AIR FORCE GUY
AND UH
WE HAD UH WE HAD NO OTHER BRANCH AT THE TIME
NOW THE SPACE FORCE IS OUT
BUT THE COAST GUARD WAS THE ONLY ONE THAT WE WEREN'T REPRESENTING
SO WE NAMED THE COMPANY BEAT COAST GUARD AND THAT'S WHERE B C G STANDS
UH STOOD FOR UH
GO GO BACK ONCE SORRY LET ME FINISH THAT UP
UM SO WE BOUGHT OUR FIRST MULTI FAMILY BUILDING 2017
ONLY EIGHT YEARS AGO HERE
AND UM UH
AND THEN FAST FORWARD A COUPLE YEARS FROM THERE
ONCE WE GOT TO A CERTAIN SIZE I
I QUIT MY UH
W2 AND UH
FOLLOWED MY DREAMS RIGHT
SO LET'S GO NEXT ONE
ALRIGHT SO EVERYONE KNOWS THE STORY OF LIKE
OH YEAH WHY REAL ESTATE RIGHT
IT'S A VERY COMPELLING STORY
PASSIVE INCOME MAILBOX MONEY
PRICE APPRECIATION TAX BENEFITS DIVERSIFICATION WHATEVER UH
THESE ARE LIKE WHAT NORMALLY YOU THINK ABOUT WHEN YOU THINK ABOUT OKAY
WHEN YOU BUY REAL ESTATE BUT IF YOU GO TO NEXT SLIDE UH
LIKE I THOUGHT AT THE TIME WHEN I WAS GETTING INTO ALL THIS THAT UH
REAL ESTATE WAS GONNA BE PASSIVE
I REALLY LIKE
I REALLY BELIEVED THAT UH
I THOUGHT IT WAS GONNA BE MORE PASSIVE THAN IT WAS
I THOUGHT IT WAS GONNA BE MORE PROFITABLE THAN IT WAS UH
I THOUGHT IT WAS GONNA BE EASIER THAN IT WAS RIGHT
AND SO I THINK WE ALL TELL OURSELVES THIS STORY OF LIKE OKAY UH
THE INSTAGRAM VERSION OF OF REAL ESTATE IS
IS BEAUTIFUL RIGHT
AND SO I THINK UH
I THINK EVERYONE'S GOT THESE ROSE COLORED GLASSES
WHEN YOU GET ON TO THIS
BUT THEN YOU REALIZE AFTER GOING THROUGH THIS FOR MULTIPLE DECADES NOW
THAT LIKE
REAL ESTATE IS REALLY HARD AND UM UH
BUT IT'S VERY IT'S VERY FRUITFUL IF YOU STICK WITH IT SO UM
YOU KNOW I
I UM
I I SAY ALL THIS NOT TO DISCOURAGE ANYBODY
BUT YOU KNOW
TO SAY YOU KNOW
THERE'S A THERE'S A JOURNEY HERE AND TO STICK WITH IT
BECAUSE AT SOME POINT IN TIME
YOU'RE GONNA GET KICKED DOWN AND IT'S GONNA UH
IT'S GONNA GET TIRING IT'S GONNA GET HARD AND YOU JUST GOTTA
YOU GOTTA POWER THROUGH IT
LET'S GO TO THE NEXT SLIDE REAL QUICK
ALRIGHT SO AND THIS IS ALL TO GET TO IT
THERE'S ALL THERE'S A POINT TO THIS KIND OF PROGRESSION HERE
BUT UM
YOU KNOW EVERYONE'S KIND OF GOT A STRATEGY
EVERYONE'S KIND OF GOT A UH
A A TYPE OF REAL ESTATE THAT THEY GO AFTER WE
UM
WE'VE KIND OF BUILT THIS SLOW STRATEGIC GROWTH STRATEGY RIGHT
WE'RE WE'RE BUYING 5+ UNIT BUILDINGS
UM
LIGHT VALUE ADD TYPE STUFF WE WANT TO HOLD FOR 20+ YEARS
WE TELL ALL OUR INVESTORS THAT INVEST WITH US
UM THAT
YOU KNOW
WE WANT OUR KIDS AND OUR GRANDKIDS MAYBE TO INHERIT ALL THESE THINGS
AND AND SO UH
TO US WHEN WE HAVE THAT WHEN WE HAVE THAT TIMELINE
UM IT ENABLES US TO MAKE MORE LONG TERM UH
DECISION WE DON'T GET
WE DON'T GET BOGGED DOWN
OR WORRIED ABOUT THE SHORT TERM THINGS THAT HAPPEN
AND UH'CAUSE I KNOW THAT TIME UH
UH TENDS TO HEAL A LOT OF WOUNDS IN REAL ESTATE
UM
WE BUY IN LOCATION I
I FOR YEARS I CHASED A LOT OF SHINY OBJECTS
WE I HAVE PROPERTIES IN LIKE 13 DIFFERENT STATES UM
AND A LOT OF IT WAS JUST BULLSHIT
LIKE SHINY OBJECT SYNDROME
WHERE A FRIEND WAS BUYING SOMETHING IN JACKSONVILLE FLORIDA
I HAVE A I OWN A FUNERAL HOME IN JACKSONVILLE FLORIDA UM
UH
THAT WERE TURNED INTO AIRBNB'S
IT SOUNDS AWESOME RIGHT
BUT LIKE IT IS A F***ING DISASTER SO
UM SO UH
WE'RE YOU KNOW
I PROMISED MY PARTNERS NOW THAT LIKE WE'RE
WE'RE ONLY STRATEGICALLY GONNA BUY STUFF IN LOCATIONS THAT MAKE SENSE
OPERATIONALLY FOR US RIGHT
AND WE'LL GET I'M GONNA
I'M GONNA TALK A LITTLE BIT ABOUT MORE OF THAT IN A BIT
BUT LIKE
LIKE WHAT DOES THAT REALLY MEAN IT
IT MEANS LIKE WE'RE BUYING STUFF IN UKRAINIAN VILLAGE
IN WEST TOWN AND PILSEN AND LIKE
THOSE ARE OUR TWO TARGET MARKETS
AND WE'RE NOT BUYING ANYTHING ANYWHERE
F***ING ELSE IN THE CITY OF CHICAGO OR ANY OUT
ESPECIALLY ANYWHERE OUT OF STATE UM
WE'VE WE'VE DEVIATED FROM THIS RULE A FEW TIMES
BUT WE'RE VERY UH
WE'RE WE'RE VERY HYPER FOCUSED NOW ON THIS
UM
WE DO A LOT OF VALUE ADD STUFF
OKAY AND THAT DOESN'T NECESSARILY PEOPLE THINK VALUE ADD
THEY'RE PROBABLY THINKING
ALL RIGHT YOU'RE GONNA GUT RENOVATE A BUILDING UH
WE DO NOT GUT RENOVATE ANYTHING ANYMORE'CAUSE WE'VE DONE THAT
AND IT'S IT'S
THAT'S AGAIN IS ANOTHER
ANOTHER THING THAT'S HARDER THAN EVERYBODY IMAGINES RIGHT UM
WHO HERE'S FLIPPED THE HOUSE BEFORE
ASHWIN YOU CAN RAISE YOUR HAND UH
SUCCESSFUL OR NOT I MEAN
UM IT
AND WE'RE TALKING ABOUT BIGGER BUILDINGS
THIS STUFF IS LIKE A FULL TIME JOB
LIKE YOU YOU TRY TO UH
YOU TRY TO RENOVATE
ENTIRE BUILDING AND YOU WANT TO DO IT LIKE WHILE ALSO RUNNING A
A BROKERAGE WHILE ALSO RUNNING A PROPERTY MANAGEMENT COMPANY
WHILE ALSO TRYING TO FIND OTHER BUILDINGS TO BUY
AND RAISING A FAMILY IM-F***KING POSSIBLE
IT'S NOT REALLY
IT'S NOT EASY UNLESS YOU'RE REALLY GIFTED AT THIS STUFF UM
SO NOW OUR STRATEGY IS LIKE
WE'LL FIND A BUILDING THAT'S MISMANAGED WITH UNDER MARKET RENTS
MAYBE DOESN'T HAVE ACS BUT HAS FURNACES RIGHT
AND WE'LL JUST BOLT ON UH
CONDENSERS ON THE ROOF AND AND
AND STRAP SOME COILS IN AND LIKE
ADD ANOTHER 50 TO 100 DOLLARS A MONTH IN RENT PER UNIT
YOU KNOW UM
SO YEAH VALUE ADD CAN COME IN LOTS OF OH
ADDING LAUNDRY IN THE BASEMENT ADDING PARKING SPACES
INTERNET AS A SERVICE WE DO A LOT OF THAT NOW UH
MY PARTNER JD
WILL COULD TALK YOUR EAR OFF ABOUT INTERNET AS A SERVICE
I DON'T LOVE IT THAT MUCH BUT UH IT'S IT WORKS UM YEAH
THAT'S THE HARD PART THOUGH
UM
WE WE TALK ABOUT COST DOLLAR AVERAGING
SO LIKE WE'RE TRYING TO BUY THREE
FOUR OR FIVE DEALS A YEAR RIGHT
NOT EVERY DEAL IS GONNA BE A HOME RUN
NOT EVERY DEAL IS GONNA BE A DOUBLE
BUT WE LIKE WE LIKE TO HIT BASE HITS AND UM
AND WE BUY WHEN INTEREST RATES ARE HIGH
WE BUY WHEN INTEREST RATES ARE LOW WE BUY WHEN THEY'RE IN THE MIDDLE
WE BUY WHEN PRICES ARE HIGH
WE BUY WHEN PRICES ARE LOW AND WE BUY WHEN PRICES ARE IN THE MIDDLE
THE IT'S
IT'S UH
IT DOESN'T NECESSARILY
CHANGE OUR UNDERLYING FUNDAMENTALS OF WHAT WE'RE BUYING
BUT WE'RE WE'RE NOT GONNA STOP BUYING
JUST CAUSE THE MARKET CONDITIONS AREN'T PERFECT
AND BASE HITS RIGHT
LIKE THE DREAM IS THE HOME RUN
WE'VE HIT ONE HOME RUN IN
IN MY 15+ YEARS OF DOING THIS AND IT WAS AN ACCIDENT UM
AND MOST HOME RUNS ARE OKAY
SO LIKE CAUSE THEY'RE NOT GONNA PRESENT THEMSELVES RIGHT
THEY'RE USUALLY MADE TOO RIGHT
THEY'RE NOT LIKE UM
THEY'RE NOT ON THEY'RE NOT ON PAPER WE
WE GOT VERY LUCKY UM
AND SO
UH ANYONE THAT
YOU KNOW THAT WANTS TO HIT HOME RUNS
LIKE THIS IS NOT REALLY THE GAME FOR IT
THERE ARE NOT MANY OUT THERE ANYMORE AND UH
AND AGAIN THEY'RE MADE AND THEY'RE NOT
THEY'RE NOT NECESSARILY FOUND
SO WE LIKE SMALL BALL
ALRIGHT NEXT SLIDE
ALRIGHT SO THIS IS THE
THIS IS SOME OF THE GOOD STUFF UM
I TALK ABOUT THIS TOP ONE A LITTLE BIT MORE ON ANOTHER SLIDE BUT LIKE
WITH REAL ESTATE EVENTUALLY YOU RUN OUT OF YOUR OWN MONEY RIGHT UM
YOU YOU
YOU HAVE AN INFINITE YOU HAVE A FINITE AMOUNT OF MONEY TO YOUR NAME UH
YOU HAVE A FINITE AMOUNT OF MONEY THAT YOU COULD POTENTIALLY MAKE
MAYBE IT'S AN INFINITE AMOUNT OF MONEY THAT YOU COULD POTENTIALLY MAKE
BUT UM
YOU'RE WITHOUT DEBT YOU'RE NOT GONNA GROW OR SCALE IN THIS BUSINESS
IT'S ALMOST IMPOSSIBLE UH
AND THERE'S REALLY TWO ONLY TWO WAYS IN MY OPINION TO SCALE IN THIS UM
AND I'LL HIT ON THOSE HERE IN A MINUTE
BUT UM
TEAM IS EVERYTHING RIGHT
AND I I THINK WE'VE SEEN ON COUNTLESS OCCASIONS
UM SCENARIOS THAT LIKE
EITHER WE GOT OURSELVES INTO OR I GOT MY CLIENTS INTO
BECAUSE WE HAD ACCESS TO PEOPLE
WE HAD ACCESS TO
TO INFORMATION THAT OTHER PEOPLE DIDN'T HAVE ACCESS TO RIGHT SO UH
WHO YOU WORK WITH MATTERS
WHO'S YOUR LENDER MATTERS
WHO YOUR ATTORNEY MATTERS
WHO YOUR BROKER MATTERS UM
SO SPEND AS MUCH TIME AS YOU CAN
LIKE BUILDING THOSE RELATIONSHIPS
COMING TO THINGS LIKE THIS AND
AND TRYING TO UH
UH
YOU KNOW FIND THE EXPERTS IN
IN EACH INDIVIDUAL FIELD UM
I'M LIKE A READY UH
FIRE AIM GUY RIGHT
AND LIKE UM
I DON'T UH
I DON'T REALLY LIKE UM
FOLLOW INSTRUCTIONS WELL SO I WOULD SAY DOING IS GREATER THAN LEARNING
RIGHT
LIKE I SPENT A LITTLE TIME EARLY ON IN COLLEGE AND I WAS JUST LIKE
LIKE READ EVERY BOOK AND BIGGER POCKETS WASN'T REALLY AROUND YET
BUT UM
YOU KNOW I
I
I GOT TO EL PASO LIKE WITHIN 30 DAYS I BOUGHT A MULTI FAMILY BUILDING
CAUSE I KNEW I WANTED TO DO IT AND I MADE SO MANY MISTAKES
BUT THAT FIRST BUILDING I BOUGHT I
I USED TO HAVE A CASE STUDY SLIDE ON IT BUT UM
I I'VE REFINANCED THE THING LIKE FOUR TIMES
IT CASH FLOW ME CASH FLOWS ME LIKE $2,000 A MONTH
I LITERALLY DO AN HOUR OF WORK A YEAR ON
ON THE THING AND UM
BUT LIKE AT FIRST IT WASN'T LIKE THAT RIGHT
AND LIKE SO I
IT'S A PERFECT CASE STUDY OF LIKE
JUST GO OUT AND DO SOME DO STUFF AND
AND WAIT RIGHT
AND EVENTUALLY TIME'S GONNA UH UH
UH DO ITS THING
SO THE BULLET 4 HERE IS PROBABLY MY
MY MY FAVORITE THING TO TALK ABOUT BECAUSE UM
THERE'S A LOT OF PEOPLE OUT THERE AND LIKE
LOOK AT ME
I'M STANDING IN FRONT OF A STAGE RIGHT NOW TALKING ABOUT REAL ESTATE
BUT UM
AND SPILL MY DRINK
LUCK HAS ALMOST EVERYTHING TO DO WITH EVERYTHING WHEN IT COMES TO
TO REAL ESTATE I STARTED MY REAL ESTATE JOURNEY IN 2008 RIGHT
I LITERALLY AFTER THE FIRST COUPLE YEARS OF SHIT
WE WENT ON THE LONGEST BULL RUN IN REAL ESTATE HISTORY
IN THE COURSE OF THE THE
THE UNIVERSE RIGHT
LIKE AM I
AM I LUCKY OR AM I GOOD IT DOESN'T MATTER I
I EITHER WAY I
I GOT LUCKY I'VE
I WROTE A I WROTE A
I WROTE A BULL MARKET
UM FOR THE LAST 15 YEARS
SO THE FACT THAT I DIDN'T UH
I DIDN'T GET CANCER THE FACT THAT I DIDN'T GET KILLED IN IN
UH WHILE DEPLOYED
THE FACT THAT I I WAS
I WAS ABLE TO HAVE ALL THAT TIME
LIKE THERE'S SO MANY MILLION FACTORS THAT GO INTO
THAT GO INTO THIS THAT ENABLED ME TO
TO TO LIKE ALL THE PIECES TO LINE UP RIGHT
THERE'S THERE'S SO MANY FACTORS
BUT LUCK HAS A TREMENDOUS AMOUNT OF UH
UH
YOU KNOW IF I RAN OUT OF MONEY IN 2012 OR 2011 OR ANY OF THOSE TIMES
AND I HAD TO SELL THAT PROPERTY
I WOULD HAVE NEVER CONTINUED THIS JOURNEY RIGHT
SO THERE'S SO MANY THINGS THAT LIKE PLAY INTO THIS AND FOR PEOPLE TO
TO UH
TO GET ON STAGE AND AND SAY THAT
YOU KNOW THEY WERE
THEY'RE THEY'RE SUCCESSFUL JUST BECAUSE THEY'RE GOOD IS
IS BULLSHIT RIGHT
LUCK HAS A BIG LUCK TIMING
THERE'S A LOT OF FACTORS THAT PLAY INTO IT
BUT LUCK HAS A HUGE PART OF IT SO UM
AGAIN REAL ESTATE IS NOT PASSIVE UM
AND THERE ARE PASSIVE WAYS TO GET INTO REAL ESTATE RIGHT
YOU COULD BE A YOU COULD INVEST WITH A B
C G REAL ESTATE GROUP
AND WE'LL GET YOU A NICE 10% PLUS RETURN ON YOUR MONEY
OVER THE COURSE OF TIME BUT
AND YOU WON'T HAVE TO LIFT A FINGER BUT UM
IF YOU WANT TO GET INTO THIS FULL TIME AND LIKE
GET YOUR HANDS DIRTY WITH IT
THERE'S NOTHING PASSIVE ABOUT IT WHATSOEVER UM
I TALK ABOUT TIME A LOT TIME HEALS MOST IF NOT ALL WOUNDS RIGHT
MY SECOND INVESTMENT WAS A 13
SORRY 11 UNIT APARTMENT
BUILDING AND AGAIN
EVERYTHING THAT BAD THAT COULD HAVE HAPPENED WITHIN THE FIRST 60 DAYS
HAPPENED IN THE FIRST 60 DAYS AND
FAST FORWARD 10 YEARS I LIKE
I DON'T EVEN KNOW FIVE TIMES MY MONEY ON THIS THING
BUT HAD I LIKE HAD I JUST QUIT OR LIKE
LET THOSE FIRST TWO MONTHS LIKE DEFINE THAT JOURNEY UH
I WOULD HAVE NEVER STUCK AROUND TO SEE THE THE
THE END RESULT OF THIS THING
SO UM YOU KNOW
THAT'S WHY WE HAVE A LONG TERM HORIZON ON EVERYTHING WE DO BECAUSE UH
CAUSE YOU CAN MAKE MISTAKES IN REAL ESTATE
AND STILL COME OUT ON TOP IN FOUR FIVE
SIX 10
20 30 YEARS RIGHT
SOME SOME DEALS TAKE LONGER TIMES TO RECOVER
BUT BY AND LARGE IT'S A IT'S A LONG GAME AND THE LONGER YOU PLAY IT
THE RICHER YOU'RE GONNA BE
UM YEAH
THIS NEXT ONE KIND OF GOES HAND IN HAND
DON'T LET SHORT TERM PROBLEMS GET IN THE WAY OF THE LONG TERM VISION
RIGHT SO
YOU KNOW IT'S IMPORTANT TO JUST LIKE FIGURE OUT A PLAN WHEN
WHEN THE GOING GETS TOUGH AND JUST STICK WITH IT
SEE IT THROUGH AND AND AND JUST DON'T STOP DON'T QUIT UM
I'VE DONE
I'VE BEEN LUCKY ENOUGH TO HAVE A LOT OF DIFFERENT PARTNERS IN MY LIFE
UM I'VE HAD SOME NOT SO GOOD PARTNERS
BUT IT'S IMPORTANT IT'S JUST LIKE A MARRIAGE RIGHT
YOU KNOW A BUSINESS PARTNERSHIP IS
UH UH
IS VERY IMPORTANT TO BE ALIGNED ON GOALS
I HAD ANOTHER GROUP I WAS PARTNERS WITH IN
IN CLEVELAND AND THERE WAS
THERE WAS SIX OF US AT ONE POINT IN TIME
THAT'S A LOT OF PEOPLE TO
TO BE PARTNERS WITH RIGHT
AND UH
UM
LITERALLY NOT ONE OF
NOT ONE OF US HAD THE SAME VISION ON HOW WE SAW THE WORLD
AND SOMETIMES THINGS CHANGE RIGHT
THEN HALF THE HALF THE GUYS IN THE GROUP ENDED UP HAVING
KIDS AND NEEDED MONEY AND CASHED OUT
AND LUCKILY I HAD CASH AND BOUGHT PEOPLE OUT AND UM
NOW I OWN THESE PROPERTIES IN CLEVELAND AND I GOT NO PARTNERS
YOU KNOW AND SO UM
THINGS THINGS WORK OUT IN A FUNNY WAY
BUT IF YOU'RE GONNA PARTNER WITH FOLKS LIKE
YOU GOTTA BE BRUTALLY HONEST WITH EACH OTHER
YOU HAVE TO HAVE THE SAME GOALS THE SAME
YOU KNOW END STATE VISION AND AND YOU KNOW HOPEFULLY
YOU KNOW THEY WORK OUT
AND EVEN SOMETIMES YOU HAVE ALL THOSE THINGS AND THEY DON'T WORK OUT
SO JUST BE CAREFUL ON WHO YOU PARTNER WITH UM
YOUR NETWORK SAID AGAIN LIKE
YOU KNOW YOUR TEAM MATTERS YOUR NETWORK MATTERS YOU KNOW
WE GET ACCESS TO STUFF FIRST
YOU KNOW
BECAUSE WE WE'VE CLOSED DEALS BEFORE
SO BROKERS COME TO US WHEN THEY HAVE COOL SHIT TO SELL RIGHT
AND SO THAT STUFF MIGHT NOT MAKE IT TO THE OPEN UH
UH PUBLIC BECAUSE YOU KNOW UH
YOU KNOW WE GOT THERE FIRST UM
EVERYTHING TAKES LONGER AND COSTS MORE THAN YOU THINK IT DOES RIGHT
EVERY REHAB I EVER DID WENT OVER BUDGET
EVERY SINGLE ONE OF THEM EVERY SINGLE ONE AND IT TOOK LONGER RIGHT
AND SO YOU KNOW
WE'RE FINISHING UP SOME BASEMENT UNIT REHABS RIGHT NOW AND LIKE
OH YEAH
WE'LL BE DONE BY JUNE 1ST AND WE WERE CLOSE AND ALL OF A SUDDEN LIKE
OH YEAH YOUR FIRE RATED DOORS ARE FOUR TO SIX WEEK BACK
ORDERED EVERYWHERE WE WANTED THEM RIGHT
AND SO LIKE UM
YOU KNOW I CAN'T REALLY CONTROL A WHOLE LOT OF THAT BUT AGAIN
EVERYTHING TAKES LONGER OR COSTS MORE THAN YOU THINK IT DOES
AND THE LAST PIECE OF ADVICE I'LL I'LL
I'LL SHARE TODAY I'M SURE THERE'LL BE MORE BUT UM
IS THAT THERE'S A HUGE PLETHORA OF INFORMATION OUT THERE RIGHT
LIKE WE FACE CHALLENGES EVERY SINGLE DAY UH
AND THERE'S NOTHING CHAT GPT HASN'T HASN'T SOLVED ALREADY
YOU KNOW UH
AND
AND JEFF REMINDS ME OF THIS ALL WE WHEN WE TALK ABOUT A PROBLEM LIKE
ALRIGHT LET'S ASK THE THE THE MAN UPSTAIRS UH
WHAT UH
WHAT THE ANSWER IS YOU KNOW
AND SO UM
BIGGER POCKETS GREAT COMMUNITY OF
OF INFORMATION AND PEOPLE THERE'S SO MUCH INFORMATION OUT THERE UM
LEVERAGE US LEVERAGE ANYBODY IN YOUR NETWORK THAT'S DONE THERE
BEEN THERE UH
SOMEBODY'S BEEN IN YOUR SHOES
WHATEVER PROBLEM YOU'RE FACING AND
AND HAS SOLVED IT BEFORE UM
YOU'RE NOTHING WE'RE DOING IS UNIQUE HERE SO UH
JUST REMEMBER THAT AT THE END OF THE DAY ALRIGHT
WHAT ELSE I GOT TO TALK ABOUT
ALRIGHT
IF I WERE TO START OVER 15 YEARS AGO OR 10 YEARS AGO OR FIVE YEARS AGO
WHAT I WOULD HAVE DONE DIFFERENTLY
UM
I TOLD YOU GUYS BEFORE I DIDN'T KNOW WHAT THE VA LOAN WAS RIGHT
AND NOT EVERYBODY IN THE ROOM IS A VETERAN BUT UM
I WOULD HAVE BOUGHT AS MANY PROPERTIES WITH LOW OR NO
MONEY DOWN AS I POSSIBLY COULD HAVE
AS EARLY AS I COULD HAVE UM
BECAUSE LOOKING BACK 15 YEARS AGO
EVERY SINGLE PIECE OF REAL ESTATE ACROSS THE UNITED STATES
WAS PROBABLY INFINITELY CHEAPER AND BETTER VALUE THAN IT IS TODAY
RIGHT UM
YOU KNOW MAYBE NOT LIKE ARIZONA OR VEGAS OR WHATEVER BUT
THAT'S NOT THE POINT HERE SO I
I WOULD HAVE USED EVERY RESOURCE I HAD AVAILABLE
WHETHER IT WAS AN FHA LOAN EVEN NOW CONVENTIONAL 5% DOWN STUFF UH
VA ESPECIALLY I WOULD HAVE
I WOULD HAVE DONE AS MANY AS OF THOSE I COULD
I WOULD HAVE DONE THEM EVERY YEAR EVERY SIX MONTHS HOWEVER
WHATEVER THE LENDERS WOULD ALLOW ME TO DO I WOULD DO THAT AND
AND I WOULD NOT LOOK BACK UM
IT'S IMPORTANT TO BUY GOOD DEALS RIGHT
LIKE I'M NOT SAYING GO OUT AND BUY BULLSHIT UH
SPECULATIVE SHITTY PROPERTIES HAVE SOME INVESTMENT THESIS
HAVE SOME SOME UH SOME GUIDELINES SOME GUARD RAILS TO TO INVEST IN UH
AND AND UH AND YOU DON'T WAIT FOR THE PERFECT DEAL YOU KNOW
DON'T LET GOOD BE THE ENEMY OF GREAT WHATEVER THE EXPRESSION IS UH
BUT NOW YOU KNOW EVERY
EVERY PIECE OF REAL ESTATE YOU'RE GONNA LOOK BACK IN 20 YEARS AND IT'S
IT WOULD HAVE BEEN A IT WOULD HAVE BEEN A GREAT DEAL UM
SO
UM
THERE ARE REAL LIKE I'LL I'M SURE SOME PEOPLE CAN ARGUE THIS WITH ME
BUT THERE'S UH THERE'S ONLY TWO WAYS TO SCALE
UH RELATIVELY QUICKLY IN THIS BUSINESS RIGHT
AND UH
ONE OF THEM IS THE BRRRR METHOD RIGHT
LIKE EVERY A LOT OF PEOPLE KNOW THE BRRRR METHOD BUY
RENOVATE
UH
RENT REFINANCE
REPEAT RIGHT
SO BUY A DISTRESSED ASSET OF SOME SORT
MAYBE IT'S NOT FULLY DISTRESSED
BUT MAYBE JUST NEEDS SOME VALUE ADD WORK UH
RENOVATE IT SO CREATE VALUE
PUT A TENANT IN THERE REFINANCE IT WITH SOME LONG TERM FIXED RATE DEBT
AND THEN GET YOUR CASH OUT
GET YOUR MONEY BACK AND THEN REPEAT THE PROCESS
UM EASIER SAID THAN DONE RIGHT
BUT THAT'S ONE WAY TO SCALE AND THE OTHER WAY IS TO
TO LEVERAGE EITHER BANKS MONEY
FRIENDS AND FAMILY'S MONEY
RAISED MONEY WHATEVER
WHEREVER YOU WANT UM
BUT THERE'S REALLY A
YOU KNOW ASIDE FROM LIKE
YOU KNOW WAITING FOR EVERY SINGLE DEAL TO
TO MATERIALIZE AND WORK OUT OVER THE COURSE OF TIME
LIKE IF YOU WANT TO SCALE QUICKLY
THOSE ARE REALLY THE TWO WAYS TO DO IT IN MY OPINION
UM AND THEN LIKE AVOID THE
THE SHINY OBJECT SYNDROME LIKE I TALKED ABOUT BEFORE RIGHT
UM I
I ALWAYS THINK ABOUT THIS AND I SAID OK
IF I IF I
IF I DIDN'T DIVERSIFY ACROSS DIFFERENT MARKETS
AND IF I JUST LIKE
MADE A SOLID BET ON AN AREA WHERE I HAD A GEOGRAPHIC OR A PHYSICAL
ADVANTAGE OVER EVERYBODY ELSE
AND GUESS WHAT
LIVING IN AN AREA GIVES YOU AN ADVANTAGE OVER OUTSIDE OF STATE
OUT OF STATE INVESTORS UM
KNOWING A MARKET KNOWING A NEIGHBORHOOD
HAVING HAVING INHERENT KNOWLEDGE ABOUT AN AREA GIVES YOU A
GIVES YOU AN ADVANTAGE UH
MAYBE YOU'RE BETTER AT REHAB MANAGEMENT THAN OTHER PEOPLE ARE
THAT'S AN ADVANTAGE
MAYBE YOU'RE BETTER AT SHORT TERM RENTALS THAN OTHER PEOPLE ARE UM
YOU KNOW MAYBE YOU HAVE A KNACK FOR SOMETHING RIGHT
LIKE
AND YOU USE THINGS THAT YOU CAN TAKE ADVANTAGE OF TO YOUR ADVANTAGE UH
IN REAL ESTATE SO
UM YEAH IF I HAD GONE BACK LIKE SURE
THERE'S SOME DEALS THAT PLAYED OUT REALLY WELL AND UH
IN OTHER MARKETS
UM I MEAN EVEN MY CLEVELAND ONES THAT WERE LIKE DISASTERS
LIKE ENDED UP DOING REALLY WELL UM
HAD I UH JUST STUCK TO AREAS WHERE I HAD AN ADVANTAGE IN
UM I PROBABLY WOULD HAVE BEEN MUCH BETTER OFF IN THE LONG RUN
ALRIGHT WHAT ELSE I GOT
ALRIGHT UM
I'M GONNA GIVE YOU GUYS MY 2 CENTS ON THE CHICAGO MARKET RIGHT
AND LIKE UH REMEMBER THIS IS MY PERSPECTIVE I'M A BROKER RIGHT
I LIKE I I I HELP PEOPLE BUY AND SELL REAL ESTATE UM
THIS IS A UH THIS IS A LOT OF GENERIC THINGS UP HERE
BUT I'LL KIND OF I'LL KIND OF LAYER ON SOME SPECIFICS
THERE ARE MORE THERE ARE MORE REAL ESTATE INVESTORS
NOW THAN THERE EVER BEEN IN THE HISTORY OF
OF REAL ESTATE END OF STORY RIGHT
YOU KNOW FIVE YEARS AGO
NOBODY KNEW WHAT THE WORD
THE TERM HOUSE HACKING MEANT RIGHT NOW IT'S LIKE A NOW IT'S LIKE A
A STAPLE UH
BUY A THREE UNIT BUILDING LIVE IN ONE UNIT RENT THE OTHERS OUT RIGHT
UM IT'S BECOMING MORE AND MORE COMMONPLACE
THERE'S MORE AND MORE PEOPLE DOING IT AND SO WHAT WHAT DOES THAT MEAN
UH THAT MEANS THAT COMPETITION FOR THE TWO
IN THE TWO TO FOUR UNIT SPACE IS
IS HIGH
UM WE PLAY IN THE 5 TO 20 UNIT SPACE TYPICALLY ME ME AND MY PARTNERS
UH AND THE WHAT'S ON THE MLS RIGHT NOW
THERE ARE THERE ARE NO GOOD DEALS ON THE MLS RIGHT NOW
UM I WILL I WILL TELL YOU THAT EVERYTHING'S OVERPRICED
I HAVE A 12 UNIT ON THE MARKET RIGHT NOW AND IT IS OVERPRICED
UH IT'S NOT MINE I'M HELPING OUT
BUT EVERYBODY THINKS THAT THEIR BABIES ARE PRETTIER THAN THEY ARE UM
AND SO UM
SO IF YOU WANT TO
IF YOU WANT TO FIND GOOD DEALS SOMETIMES IT MEANS GOING OFF MARKET
BUT OFF MARKET MEANS A LOT OF THINGS THESE DAYS
THERE ARE JUST AS MANY EYES ON SOME OF THE OFF MARKET
STUFF AS THERE ARE ON THE ON MARKET STUFF RIGHT
ESPECIALLY IF YOU'RE A FLIPPER
UH WHOLESALERS HAVE JUST AS BIG OF A BUYERS LIST AS THE MLS
PROBABLY COMMANDS
SO JUST BE CAREFUL ON WHO YOU'RE WORKING WITH OFF MARKET
WHAT I MEAN BY
WHEN I SAY MOST INVENTORY HELD BY OFF MARKET SOURCES IN THE FIVE
TO 20 UNIT SPACE THERE'S LIKE FOUR DOMINANT PLAYERS IN CHICAGO UH
MAYBE MAYBE 10 BUT THERE'S FOUR THAT WE DEAL WITH LIKE THERE'S INTERRA
THERE'S ESSEX THERE'S KAISER GROUP THERE'S UH UH GREENSTONE AND UM UH
AND MAYBE A HANDFUL OF OTHERS THAT WE'VE DONE BUSINESS WITH UM
AND THERE THERE'S SOME GREAT PEOPLE IN THOSE GROUPS
AND YOU GOT YOUR CBREs AND YOUR UH
AND YOUR MARCUS AND MILLICHAPS AND AND UH
AND THOSE FOLKS UM THEY THEY LIKE TO CONTROL THE DEALS
SO UNLESS YOU'RE ON THEIR LIST OR KNOW PEOPLE THAT ARE WORKING THERE
YOU'RE TYPICALLY NOT GOING TO GET ACCESS TO THOSE DEALS UM
I UH
I HELP CLIENTS SOMETIMES BUY SOME OF THEIR STUFF AND THEY
I'VE BUILT UP A RELATIONSHIP BECAUSE WE'VE BOUGHT STUFF FROM THEM
AND SO THEY TRUST THAT I'M GONNA GET A DEAL DONE
IF I'M BRINGING A BUYER THERE UM
AND THIS IS NOT A PITCH TO NECESSARILY
USE ME TO HELP YOU BUY A MULTI FAMILY DEAL UM
BUT IF YOU WANT TO GET ACCESS TO THE STUFF THAT'S NOT ON MLS
SOMETIMES YOU HAVE TO LIKE UM
YOU KNOW EVEN IF YOU MET THESE PEOPLE OR GOT ON THEIR LIST
IT DOESN'T MEAN THEY'RE GONNA KNOW AT ALL WHO YOU ARE
AND IF YOU HAVE YOU KNOW THAT YOU HAVE ANY CREDIBILITY
THAT YOU'RE GONNA CLOSE A DEAL BEFORE RIGHT
SO AGAIN WHO YOU WORK WITH MATTERS WHO
WHO UH
WHO YOU KNOW MATTERS UM
I YEAH
I JUST SAID THAT YEAH WE KNOW 1,000
10,000 100,000% MATTER UM
THERE IS A CLEAR PATH OF PROGRESS IN
IN MULTIPLE DIRECTIONS THROUGHOUT THE CITY RIGHT
I'M I'M GONNA NAME A FEW THINGS HERE BUT FIVE
SEVEN EIGHT YEARS AGO WE DIDN'T WANT TO INVEST WEST OF WESTERN AVENUE
OKAY UM
THEN WE FOUND A DEAL AT LIKE 2438 SO AND SO BLOCK OKAY
WE'LL GO A LITTLE WESTERN WESTERN
THEN WE FOUND SOMETHING AT 26 BLOCK
THEN WE FOUND SOMETHING AT CALIFORNIA THAT LOOKED INTERESTING
WHAT ARE WE SEEING HERE THIS IS
THIS IS A PATH OF OF PROGRESS UM
HIGHER RENTS IN NOBLE SQUARE
HIGHER RENTS IN UH UKRAINIAN VILLAGE UH
YOU KNOW PUSHING TENANTS OUT
GOOD QUALITY TENANTS INTO WEST TOWN
AND THEN WEST TOWN INTO EAST HUMBOLDT PARK
AND EAST HUMBOLDT PARK INTO WEST HUMBOLDT PARK RIGHT
SO OVER TIME UH
PEOPLE GET PRICED OUT OF NEIGHBORHOODS AND
AND WORK THEIR WAY IN DIFFERENT DIRECTIONS AND SO UM
I ALWAYS SAY IT'S IMPORTANT TO NOT BE THE FIRST PERSON IN A
INTO AN AREA OR THE LAST PERSON INTO AN AREA RIGHT
YOU WANNA BE SOMEWHERE IN THE MIDDLE
SO IT'S IMPORTANT TO KIND OF KEEP A GOOD PULSE ON LIKE
WHERE RENTS ARE HEADED RIGHT
AND THAT'S LIKE A GOOD AND THAT'S A HARD THING TO FIGURE OUT SOMETIMES
RIGHT BECAUSE THERE'S UH
THERE AREN'T REALLY LIKE GOOD SOURCES OF LIKE ACTUAL RENT DATA
SURE YOU HAVE ZILLOW THAT YOU CAN LOOK AT
RIGHT AND SEE WHAT RENTS ARE POSTED AT
BUT ZILLOW DOESN'T MAKE YOU POST WHAT YOU ACTUALLY RENTED A UNIT AT
FOR RIGHT
UH SO YOU HAVE COMPANIES LIKE UH
LOOPNET AND UH CREXI THAT LIKE WILL ACTUALLY CALL MULTI FAMILY UH
OWNERS AND ASK THEM WHAT THEIR TWO BEDROOM ONE BATHS ARE
ARE AT THIS SO
LIKE
SOME OF THEIR DATA IS PRETTY GOOD BECAUSE THEY'RE ACTUALLY ASKING
RIGHT WE CALL PROPERTY MANAGEMENT COMPANY AND THAT'S
YOU KNOW WE HAVE A
WE HAVE A REALLY GOOD
IDEA OF WHAT THINGS RENT FOR IN CERTAIN LOCATIONS
BECAUSE WE ACTUALLY ARE IN THE GAME AND RENTING STUFF THERE SO
UM SO IT'S SOMETIMES HARD TO
TO FIND THIS INFORMATION UNLESS YOU'RE
UNLESS YOU'RE DOING IT UM
I MENTIONED BELMONT CRAIG
BELMONT CRAIG IS KIND OF LIKE UH
THERE WAS A LOT OF FLIP ACTIVITY LIKE 4 OR 5
SIX YEARS AGO BUT NATURALLY FOLLOW THE BLUE LINE RIGHT
BLUE LINE UH
GETTING FARTHER AND FARTHER AWAY FROM THE CITY
UM
YOU KNOW
THE MORE DEVELOPMENTS HAPPENING THERE
MORE INVESTOR ACTIVITIES HAPPENING THERE
PRICES ARE GOING UP RIGHT
ALBANY PARK AVONDALE
A LOT OF THESE AREAS IN THAT NORTHWEST UH POCKET
UH OF THE BLUE LINE UH
ARE ARE GETTING A LOT OF ATTENTION
THEY'RE SEEING PRETTY HEFTY PRICE INCREASES
STUFF THAT'S SELLING THERE NOW UM
IS SELLING FOR LIKE 2020 UKRAINIAN VILLAGE PRICES RIGHT
AND SO WHEREAS IF YOU BOUGHT 10 YEARS AGO THEY WOULD HAVE BEEN LIKE
YOU KNOW UH
UH SUPER LOW UM
AND THEN NOW WITH LIKE THE OBAMA LIBRARY LIKE YOU'RE SEEING
YOU'RE SEEING THE BRONZEVILLE
HYDE PARK ALL THE WAY TO SOUTH SHORE NOW
ALMOST STARTING TO CONNECT EACH OTHER IN THE SOUTH SIDE
AND WE DON'T BUY ANYTHING ON THE SOUTH SIDE TYPICALLY UM
SO IT'S KIND OF THE AREA THAT EVEN THOUGH I LIVE ON THE SOUTH SIDE
I'M LIKE PROBABLY LEAST FAMILIAR WITH SOME OF THOSE MARKETS BUT UM
BUT THERE'S A LOT OF ACTIVITY
A LOT OF GROWTH HAPPENING THERE AND IT'S HARD TO IGNORE RIGHT
AND SO UM
SO WHAT I MEAN TO SAY HERE IS
IT'S JUST IMPORTANT TO FOLLOW KIND OF THE DIRECTION OF
OF OF DEVELOPMENT
THE DIRECTION OF OF REHABS THE DIRECTION OF RENT INCREASES AND
AND KIND OF LIKE YOU KNOW INVESTING ALONG WITH IT RIGHT
THE RISING TIDE IN CERTAIN AREAS WILL RAISE ALL SHIPS SO
YEAH
I SAID THIS BEFORE THERE ARE MORE INVESTORS OUT THERE THAN EVER BEFORE
UM AND SO NATURALLY
UM
COMPETITION'S INCREASING
THE MORE THE AMOUNT OF INFORMATION OUT THERE IS INCREASING UM
AND SO UH
EVERY SINGLE DAY NEW REAL ESTATE UH
GURUS ARE BEING MINTED ACROSS THE WORLD SO UM
THERE'S ONE OTHER THING I WANTED TO TALK ABOUT
I THINK THIS IS MY LAST SLIDE
DO I HAVE ANYTHING ELSE AFTER THIS
YEAH SO UH
NOTHING EARTH SHATTERING HERE GUYS RIGHT
LIKE I WANTED TO TAKE A FEW MINUTES AND LIKE
JUST KIND OF LIKE FIRST OFF
IF I COULD DO IT ANYBODY COULD DO IT RIGHT
LIKE I'M I'M NOT ANYTHING SPECIAL
I AM NOT UH
UM I WASN'T BORN INTO A REAL ESTATE FAMILY
I UH
DIDN'T HAVE A MILLION BUCKS AFTER COLLEGE
UM I
MY MY STARTING PAY AS A SECOND LIEUTENANT WHEN I GOT OUT
UH INTO THE ARMY WAS LIKE $38,000 A YEAR
SO I WASN'T MAKING A TON OF MONEY
UM I JUST KIND OF LIKE TOOK SOME
UH TOOK SOME BOLDER UH
LEAPS AND UH
JUST DID SOME SHIT AND AND IT
AND IT PAID OFF OVER TIME
AND SO UH
IT'S A VERY REPEATABLE MISTAKE-RIDDEN UH
PROCESS AND IF YOU
IF YOU YOU CAN LEARN ANYTHING FROM ME
I'LL HELP YOU AVOID SOME OF THOSE MISTAKES
SO YOU CAN KIND OF GO ON THAT 15 YEAR JOURNEY IN LIKE 4 OR 5 YEARS
UM
FOR CONTEXT LIKE WE OWN LIKE 120 DOORS NOW
UM
UH
WE HAVE COMMERCIAL BUILDINGS
WE HAVE RETAIL WE HAVE EVERYTHING RESIDENTIAL UNDER THE SUN AIRBNBS
MIDTERM RENTALS UM
YOU NAME IT WE'VE KIND OF DONE IT BEFORE
SO IF ANYBODY HAS ANY QUESTIONS ON KIND OF ANY ASSET TYPES
WE'VE NOT BOUGHT ANYTHING BIGGER THAN A 14 UNIT
SO THAT'S OUR LARGEST ASSET
SO I WE'RE NOT THE 50 UNIT PLUS GUYS
UM
AND I KNOW A LOT OF PEOPLE THAT ARE DOING THAT AND DOING WELL WITH IT
BUT IT JUST THIS IS NOT WHERE WE PLAY NICE WITH BUT
OR PLAY WELL WITH OR FIT IN WITH BUT UM
YEAH IT'S MY STORY GUYS UH
I LOVE SOME Q&A YOU GUYS CAN ASK ME ANYTHING
I'M A PRETTY OPEN BOOK UM
AND UH
EVEN IF YOU WANT TO WAIT TILL AFTERWARDS AND GRAB A DRINK AND AND
AND PICK YOU KNOW
ASK ME SOME QUESTIONS UM
AND YOU KNOW
MOST OF OUR TEAM IS HERE RIGHT NOW TOO RIGHT
AND SO UM
WE RUN A PROPERTY MANAGEMENT COMPANY
SO WE DO THIRD PARTY MANAGEMENT FOR FOLKS UM
NOT EVEN A SHAMELESS PLUG
BUT JUST A YOU KNOW
CREDENTIALIZE OURSELVES A LITTLE BIT UM
WE GOT A BROKERAGE TEAM WE HAVE UH
FOUR AGENTS NOW AND A SLEW OF OTHER AWESOME UH
UH
MEMBERS OF THE TEAM AND THEN UH
FULL STAFF PROPERTY MANAGEMENT COMPANY AND UM
YEAH WE'VE WE
WE DO A LOT OF UH
BUY BUILDINGS FIX THEM UP AND RENT THEM OUT
THAT'S KIND OF OUR STRATEGY
