Video: Andrew Dorazio discusses the framework for purchasing multifamily and investment properties in Chicago’s volatile 2025 market.

In this candid talk, BCG Managing Partner and Dorazio Real Estate Team Lead Andrew Dorazio shares how he went from a 22-year-old first-time investor in El Paso to building a 120+ unit portfolio in Chicago. Drawing from two decades of hard-earned experience, Andrew walks through what it really takes to grow in multifamily real estate, covering everything from over-budget rehabs and early missteps to strategic investing in neighborhoods like Ukrainian Village, West Town, and Pilsen. He breaks down the importance of team, off-market access, and staying focused on long-term, sustainable growth instead of chasing perfect conditions or flashy returns. Whether you’re just getting started or already scaling in the Chicago market, this is a grounded, useful look at how real estate success is actually built.

• Video Transcript - Chicago Veterans Real Estate Meetup #9: Chicago Multifamily Purchases in 2025: What to Expect in a Volatile Market

  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