Real estate investment news you can use!

May 2025

MESSAGE FROM THE BOARD

Adventures in Flipping Can Be Profitable!

Flipping a property can be a powerful way to build capital and grow your real estate business—when done right. Whether you're planning your first flip or brushing up for your next one, these five simple steps will help guide you through a successful project from start to finish.

1. Find the Right Deal

Flipping success starts with buying below market value. Look for distressed properties, motivated sellers, or off-market opportunities where you can add value. You may find these properties in numerous different ways including cold calling, door knocking, auctions and wholesalers. But most importantly don’t overlook the MLS. The current flip that we’re currently wrapping up was sourced from the MLS. If you’re new to flipping, I would also encourage you to stick to “simple” properties. I would stay away from 100+ year old homes, homes with foundation issues, homes needing to move walls. Keep it simple!

2. Run the Numbers

Before signing a contract, calculate all your costs: purchase price, renovation expenses, holding costs (taxes, insurance, utilities), and selling costs (commissions, closing fees). Know your target profit and make sure the deal works on paper before committing.

3. Create a Renovation Plan

Time is money in flipping. Create a scope of work with clear timelines and a budget for each phase. Focus on high-impact updates like kitchens, bathrooms, curb appeal, and flooring—things that sell houses fast. Avoid over-improving for the neighborhood.

4. Build Your Team

Even if you’re handy, you’ll need a strong team: contractors, inspectors, lenders, and a great real estate agent. Flipping is a team sport, and having reliable professionals can make or break your project timeline and bottom line. An organization like CAREIA can also be incredibly valuable when it comes to this. Through networking, we’ve found some great resources that have helped our flips be more profitable!

5. Sell Smart

List your flip at the right time and price. We recommend staging the home, paying for professional photography and marketing it aggressively. The faster you sell, the higher your return—holding costs eat profits.

Pro Tip: Always build a buffer into your budget and timeline. Flipping rarely goes 100% according to plan—but the more prepared you are, the more profitable it can be.

Want help sourcing your next flip or need contractor referrals? Let’s talk—flipping success starts with the right connections.

Rob Hayes

Chicago Area Real Estate Investors Association - Secretary

Upcoming Events

CAREIA

Board of Directors

Cash Flow Game Night (Members Only Event )
Wednesday, May 7, 2025 @ 7:00 p.m.
McDonald's off Highland Avenue
1 Yorktown Shopping Center, Lombard

https://www.careia.org/event-6148797

CAREIA Monthly General Meeting

Monday, May 12, 2025 @ 7:00 p.m.
Networking starts at 6:45 p.m.
Hyatt of Lisle • 1400 Corporetum Drive, Lisle

Topic: Housing Choice Vouchers (Section 8) and Chicago Rental Market

Key Note Speaker: Asher Tanveer

https://www.careia.org/event-6148777

Short Term Rental Sub Group Meeting

Monday, May 19, 2025 @ 7 p.m.

Portillo's Hot Dogs, 531 N. Randall Rd., Batavia, IL 60510

https://www.careia.org/event-6148780

Anyone who has an interest in investing in short or mid-term rentals are invited to attend our monthly STR sub group meeting. Each month we will have an open forum to discuss all things short term rentals.

Real Estate Networking Night (*Cancelled*)

Monday, May 26, 2025 @ 6:30 p.m.

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

A FREE Member & Non-member Event

Cash Flow Game Night (Members Only Event )
Wednesday, June 4, 2025 @ 7:00 p.m.
McDonald's off Highland Avenue
1 Yorktown Shopping Center, Lombard

https://www.careia.org/event-6159012

CAREIA Monthly General Meeting

Monday, June 9, 2025 @ 7:00 p.m.
Networking starts at 6:45 p.m.
Hyatt of Lisle • 1400 Corporetum Drive, Lisle

Topic: How to Buy Real Estate with Creative Finance Without Using Your Own Money and Get Paid 3 Times in Every Single Deal

Key Note Speaker: Iva Norris

https://www.careia.org/event-6159013

Short Term Rental Sub Group Meeting

Monday, June 16, 2025 @ 7 p.m.

Portillo's Hot Dogs, 531 N. Randall Rd., Batavia, IL 60510

https://www.careia.org/event-6173463

Real Estate Networking Night

Monday, June 23, 2025 @ 6:30 p.m.

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

A FREE Member & Non-member Event

https://www.careia.org/event-6173466

President: Pete Gordon

Vice President: Steven Bell

Secretary: Rob Hayes

Treasurer: Vanessa Krynen

Librarian: Dwayne Denzinger

Programing: PK Kleinert

Vendor: Iva Norris

Newsletter: Belinda Moore

Publicity: Mary Ann Skweres

Membership: Danny Galvez

Tech Support: Keith Jablonowski

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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.

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WORDS OF WISDOM

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“Investing puts money to work. The only reason to save money is to invest it."—Grant Cardone

Library Book of the Month

Brain Wash: Detox Your Mind for Clearer Thinking, Deeper Relationships, and Lasting Happiness

David Perlmutter MD, Austin Perlmutter MD

Contemporary life provides us with infinite opportunities, along with endless temptations. We can eat whatever we want, whenever we want. We can immerse ourselves in the vast, enticing world of digital media. We can buy goods and services for rapid delivery with our fingertips or voice commands. But living in this 24/7 hyper-reality poses serious risks to our physical and mental states, our connections to others, and even to the world at large.

Brain Wash builds from a simple premise: Our brains are being gravely manipulated, resulting in behaviors that leave us more lonely, anxious, depressed, distrustful, illness-prone, and overweight than ever before.

Based on the latest science, the book identifies the mental hijacking that undermines each and every one of us, and presents the tools necessary to think more clearly, make better decisions, strengthen bonds with others, and develop healthier habits. Featuring a 10-day bootcamp program, including a meal plan and 40 delicious original recipes, Brain Wash is the key to cultivating a more purposeful and fulfilling life.

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.

National REIA Benefits

Members of CAREIA can register at National Real Estate Investors Association (National REIA) https://nationalreia.org. and learn about the negotiated group discounts from National vendors. Login CAREIA website https://www.careia.org and go to Account -> Members Only: National REIA for more details.