Real estate investment news you can use!



June 2024

MESSAGE FROM THE BOARD

Hello CAREIA Family! 

I would like to share 2 keys that I believe are critical for success as a real estate investor.  These keys have served me well on my journey. 

Key #1:  Talking with like-minded people is the first step to success. You can go further and faster if you build on other people's experiences and knowledge. Someone, somewhere, has most likely experienced what you are going through, and you will never know until you talk to someone and ask questions. So I encourage you to come to any of our CAREIA general meetings and networking events, ask questions, and share your experiences!    

If you don't, you may feel lost and confused at times. You may think you know something, but then you start to have doubts. Building relationships with other investors can broaden one's knowledge base, provide valuable insights, and help accelerate your journey toward success. Success doesn't happen in isolation; it often thrives within a community of supportive peers. Take them out for coffee or tea and learn something.

Key #2:  Goal Setting. Have you put your goals on paper? Have you written out a plan of action? Have you set your priorities regarding cash flow, both now and later? Just thinking about these things will not get them accomplished. You need to take the first step by doing something different in your life to change it. All the book learning you do without action will not get you anywhere. Applied knowledge is power. Take the first step to changing your future by taking action.  

Example: Analyzing a property or discussing an area where you want to buy a property.

Why analyze the property or discuss the area of interest if you're never going to buy? That's right, I'll say it again, you need to get going and do something. Change just one thing, set that goal, and get your finances under your belt. Then you'll know what you can buy. So many people I talk to don't know how much they can spend on an investment property; they just know they want one. Well, you need to know more than that!   What can you afford? How much money will you need to fix it up? I'm not saying the money has to be yours. But, do you know where it's going to come from if it's not yours? Set a goal this week to seek out financing. Check out our vendors. Take a step in the direction of investing. Don't let it be an abstract dream. Take what you learn and turn it into actionable steps.

Success happens between the hours of 6 pm and 8 am. When you're not working your 9-to-5 job, what are you doing? Combining the power of networking and learning from others with the discipline of goal setting and taking decisive action creates a potent formula for a successful real estate investor. It's about leveraging external resources and internal drive to overcome challenges, seize opportunities, and, ultimately, realize one's full potential. Time waits for no one. Get to it!  

I hope to see you at one of the events.

Pete Gordon

Chicago Area Real Estate Investors Association - President


Upcoming Events
CAREIA
Board of Directors

Cash Flow Game Night (Members Only Event)
Wednesday, June 5, 2024 @ 7:00 p.m. 
McDonald's off Highland Avenue
1 Yorktown Shopping Center, Lombard

https://careia.org/event-5682618 

Join us for fun and learn how to create streams of income so you can get out of the rat race and onto the fast-track with money that's working harder than you are!


CAREIA Monthly General Meeting

Monday, June 10, 2024 @ 7:00 p.m.
Networking starts at 6:45 p.m.
Hyatt of Lisle • 1400 Corporetum Drive, Lisle

Topic: Structuring Legal Entities for Your REI Business (and a note on the Corporate Transparency Act)

Key Note Speaker:  Sue Vitello 


https://www.careia.org/event-5682638

A Member's & Non-Member's Event

Susan loves to share her knowledge and expertise with others, and often speaks on the topics that affect her clients. From issues that affect landlords to business owners, or individuals who want to put their estate in order, Susan will provide a seminar with the good purpose to educate those who have a need to know more. Susan has the flexibility and tenacity to do things differently if it will assist her clients in achieving their goals.

Whether you own 200 units or have no real estate experience, anyone who has an interest in real estate investing is invited to attend our General Meeting. Each month a different speaker will share information on topics relating to the many aspects of investing in real estate and being a landlord. Our General Meetings provide a great opportunity to network with experienced real estate investors from all over the Chicago land area. We also have an extensive real estate library for our members to use. The General Meeting is held on the 2nd Monday of each month.

Want to learn more about CAREIA & Real Estate Investing? Follow us on Facebook (https://www.facebook.com/ChicagoAreaREIA/).


Real Estate Networking Night

Monday, June 24, 2024 @ 6:30 p.m. 

Portillo's Hot Dogs, 235 E. North Avenue, Glendale Heights, IL 60139

FREE Member & Non-member Event

https://www.careia.org/event-5682590

Cash Flow Game Night (Members Only Event)
Wednesday, July 3, 2024 @ 7:00 p.m. 
McDonald's off Highland Avenue
1 Yorktown Shopping Center, Lombard

https://www.careia.org/event-5682620 

Join us for fun and learn how to create streams of income so you can get out of the rat race and onto the fast-track with money that's working harder than you are!


CAREIA Monthly General Meeting

Monday, July 8, 2024 @ 7:00 p.m.
Networking starts at 6:45 p.m.
Hyatt of Lisle • 1400 Corporetum Drive, Lisle

https://www.careia.org/event-5682639



Real Estate Networking Night

Monday, July 22, 2024 @ 6:30 p.m. 

Portillo's Hot Dogs, 235 E. North Avenue, Glendale Heights, IL 60139

FREE Member & Non-member Event

https://www.careia.org/event-5682593


Annual Picnic (Members Only Event)
Sunday, July 28, 2024 @ 12:00 p.m. - 4:00 p.m.
Herrick Lake Forest Preserve, West Shelter

Wheaton, IL 60189

$7 per adult, 12 & under free

https://www.careia.org/event-5706419?CalendarViewType=1&SelectedDate=7/30/2024


President: Pete Gordon

Vice President: Steven Bell

Secretary: Rob Hayes

Treasurer: Vanessa Krynen

Librarian: Dwayne Denzinger

Programing: Jillyan MacMorris

Vendor: Vacant

Newsletter: Belinda Moore

Publicity: Vacant

Membership: Danny Galvez

Tech Support: Keith Jablonowski

__________________


Our mission

To support and
promote local real estate investors
though networking, education, support, leadership on
legislative issues,
and promoting professionalism
and standards of excellence in the
real estate
investing industry.

__________________

WORDS OF WISDOM

“If you can, you should, and if you’re brave enough to start, you will.”

- Stephen King




















 

Library Book of the Month


Flipping Properties: Generate Instant Cash Profits in Real Estate Paperback – January 1, 2001

By William Bronchick and Robert Dahlstrom


Real estate investing has historically been one of the most consistent ways to achieve great wealth. Focusing on proven strategies for buying and selling properties quickly, (also called "flipping,") Flipping Properties offers would-be investors the details on how to generate cash from this popular real estate investment method.

The authors outline a step-by-step process for generating cash flow, with or without a stellar credit record, large sums of cash, or a real estate license. Guidelines help tailor a practical investing game plan for both experienced investors as well as beginners. To make a solid start, the authors reveal the essential elements of real estate transactions as well as the basics of what makes "flipping" such an appealing way to invest in real estate.

Covering pre-purchase through closing and beyond, Flipping Properties is a complete reference that also includes legal forms, sample contracts, hands-on checklists and sample advertising and marketing materials designed to get properties to sell. At the heart are practical strategies to buy bargain properties, then rapidly resell them for cash profit.

    Did you Know?

    We have: Books, CD's, and even Movies!

    Have you ever wanted to read a book or listen to a course but didn't want
    to spend the money knowing if it was what you really wanted?

    Well, that's what our Library is here for. It's for you to read, listen or even watch some great things on real estate without having to dish out the bucks!

    Sometimes you will find you may want to purchase the book or program after you borrow it. Great, but aren't you glad you didn't pay for all the ones that just weren't right for you?


    To check out materials:

    • Only members can borrow materials
    • Review inventory here: https://www.careia.org/LibaryList
    • Fill out CAREIA Library request form
    • Receive materials at the next General Meeting
    • Materials are due back in one month
    • Note. If materials are not returned, member is responsible for paying cost of materials for replacement.
    Vendors

    Cost Segragation Services

    Mark Gross

    (630) 329-9801

    markgross@costsegregationservices.com

    Evergreen Real Estate

    630-584-7730

    evergreen2151@gmail.com

    First American Bank

    Danny Galvez

    630-917-8828

    dgalvez@firstambank.com

    Geneva Financial

    Marson Maynor

    (847) 702-5335

    mmaynor@genevafi.com

    Platinum Partners Realtors

    Rob Hayes

    630-220-9017

    rhayes@pprhomes.com

    Straight Up Chicago Investor Podcast

    Mark Ainley

    mark@gcrealtyinc.com

    The Investor Funding Network

    Antonio Hernandez

    ahdzloans@gmail.com

    White Glove Building Inspections, Inc.

    Carol Fisher

    630-428-4555

    carol@whitegloveinspections.com



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