Real estate investment news you can use!



May 2024

MESSAGE FROM THE BOARD

Hello CAREIA Family! 

It was quite an honor to volunteer to write this Message From The Board as it has been quite a few years since we’ve published a newsletter.  I wanted to take this opportunity to thank Belinda Moore for all her time and effort to get this project up and running again.   When you see her at a future event, make sure you thank her.

Since we haven’t published one of these in a long time, I also wanted to give a quick shout out to the organization as a whole. If you didn’t know, this REIA was founded back in 1998 by three couples from the area who wanted to learn, teach, and network with other investors without the sales pitch at the end of the event.  One of those couples is still around and still active in the group today.  For their privacy, I’m not going to name them, but I think it says a lot that after 26 years they’re still active members and investors!  At the time, the organization was one of the very first Non-For-Profit REIAs in the area and that still remains the case today.  I became a member over 15 years ago and it was the NFP vibe that really attracted me to the group and to this day keeps me coming back. Whether you’re just looking to get started in investing in real estate or you’re a seasoned pro, I recommend that you get involved in the group.  Ask a board member how you can help.  I know you’ll be glad that you did!

Being a part of the group for so many years, I’ve met hundreds and maybe thousands of investors and by far the most common question that I get is, “Is this a good time to invest?”.  And my answer has almost always been "Yes".  My wife, Katie, and I have now been investing in real estate for over 22 years.  We’ve invested through the great recession, wars, political turmoil, COVID, rising interest rates, the births of our children, the deaths of family members and nearly every other imaginable situation.  Over those years we’ve had to deal with lots of tenant turnovers, late paying tenants, evictions, cash for keys, drive by shootings, being questioned by the FBI and even a murder!  But those stories are far and few between.  We still manage our portfolio ourselves and most days and even months are very quiet without even a peep from our tenants.  What you need to pound into your head is that investing in real estate is a slow and steady way of investing. Yes, cashflow might be minuscule today… yes, values might go down in the near future… yes, there are a lot of unknowns in the future… but if you can commit to buying and holding real estate for 10 years, you will build an incredible amount of wealth.    

So, buy that 1st rental TODAY if you haven’t… Or buy that 2nd rental TODAY… or buy that 100th rental TODAY!   Ten years from now you’ll thank me.   For the record, I practice what I preach.  Katie and I put a property under contract yesterday that we intend to hold and rent out for the next 10-15 years.

Lastly, I wanted to thank my amazing wife of 21 years, Katie, for all of her love and support over all of these years! She’s an amazing mother to our 2 children, an amazing wife, and an amazing business partner.  There’s no way that I could have accomplished what I have without her.   Unfortunately, due to a busy life, Katie doesn’t get to many of our CAREIA events, but if you see her make sure you say hello!

Thank you for taking the time to read this, and if you ever have a question or need some advice don’t hesitate to ask!

Rob Hayes

Chicago Area Real Estate Investors Association - Secretary


Upcoming Events
CAREIA
Board of Directors

CAREIA Monthly General Meeting

Monday, May 13, 2024 @ 7:00 p.m.
Networking starts at 6:45 p.m.
Hyatt of Lisle • 1400 Corporetum Drive, Lisle

Topic: How and Why to Invest in Self-Storage Facilities

Key Note Speaker:  Fernando Angelucci 


https://www.meetup.com/careia/events/300141001

Fernando Angelucci worked at Dow Chemical, a Fortune 50 company, rolling out a flagship product estimated to gross $1B in global revenues. At 23, Fernando left the 9-5 world and started investing in residential real estate by acquiring residential rentals and acquiring, renovating, and selling residential projects. Fernando then went on to build a multi-family rental portfolio spanning the Midwest. In preparation for the next down cycle, Fernando and the team divested from residential real estate to focus on self-storage. Fernando graduated from the University of Illinois at Urbana-Champaign in 2013 with a B.A. degree in Technical Systems Management. Fernando currently resides in Chicago, IL. 

A Member's & Non-Member's Event
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 differ
ent 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, May 27, 2024 @ 6:30 p.m. *Cancelled - Memorial Holiday*

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

FREE Member & Non-member Event

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: Legal Entities for REI and Corporate Transparency Act

Key Note Speaker:  Sue Vitello


https://www.meetup.com/careia/events/whnxmsygcjbnb/


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.meetup.com/careia/events/298600783/

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.meetup.com/careia/events/whnxmsygckblb/



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.meetup.com/careia/events/298600784/


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

Invest in
yourself. Your career is the engine of your wealth.

- Paul Clitheroe




















 

Library Book of the Month


The ABC's of Property Management:  What You Need to Know to Maximize Your Money Now

By Ken McElroy


So you've made your real estate investment...and now the question is: How are you going to make it profitable? How will you maximize its potential and make it grow in value? One word: Management. Hundreds of thousands know bestselling author Ken McElroy as a real estate investment tycoon. In this book, Ken reveals the key to his success: Exceptional property management. He teaches you the most important principles and keys to achieving success where others fail.

THE ABC'S OF PROPERTY MANAGEMENT tells readers:

  • How to decide when to manage your property and when to hire someone to do it
  • How to implement the right systems and structures for your investment
  • How to manage and maximize cash flow
  • What to expect: A month in the life of an owner-manager
  • How to find the right property manager (and avoid the wrong ones)
  • How to assemble a superior management team

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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