Real estate has always intrigued me, and I’ve spent thousands of hours reading books written by experts, watching and listening to podcasts created by real estate professionals, attending meetups with other investors, discussing real estate with family and close friends, but it wasn’t until I discovered the Chicago Area Real Estate Investors Association (CAREIA) that I decided to take the leap and fully commit to real estate investing. CAREIA's community of seasoned professionals and supportive community inspired me to invest not only time but also my resources into the industry. Through CAREIA, I learned that the key to success is to take ACTION. Too many investors spend endless hours analyzing deals, trying to predict market trends, or second-guessing their decisions. What truly separates successful investors from the rest is their ability to act on opportunities when they arise, even if everything isn’t perfect.

One of the biggest challenges real estate investors face is analysis paralysis. Many get tripped up by trying to time the market, overanalyzing every small detail, or worrying about potential mistakes. While due diligence is essential, these concerns often lead to missed opportunities. Factors like financing, property condition, market fluctuations, or fear of tenant management can seem overwhelming and cause investors to freeze. CAREIA stresses the importance of building a network, learning from others, and overcoming these fears with knowledge and action.

The cost of missed opportunities…

Taking action on my first investment property turned out to be a profitable risk. We purchased a property that experienced six-figure appreciation within just six months. Had we waited even half a year to make that move, we would have missed out on this incredible increase in value. The decision to act quickly not only secured us significant equity but also provided a financial boost for future investments. Now, we can use that appreciation to fund the purchase of our next property, leveraging the gains to keep building our portfolio. This experience has proven the value of taking timely action in real estate, as opportunities like this don’t last long. If we had hesitated or over-analyzed the market, we’d have lost out on a major financial gain. Instead, this first win is now fueling future growth. Moving forward, the goal is to keep this momentum, using each success as a stepping stone for the next. By continuing to take action, we aim to replicate this outcome and expand our investments even further.

I don’t want anyone to mishear what I’ve written. Real estate is a risk, all investments are. My goal for throwing my hat into the ring was to gain knowledge and experience, even if the investment didn’t prove profitable. There was no way for us to know that in 2023 there was going to be a time of significant appreciation in the market. Interest rates had risen astronomically and we got in long after when rates were at historic lows. In fact, our interest rate was close to 7%. Looking back, I wish we would have started investing in real estate then. Missed opportunity. Logic should have told me we waited too long to get into the market, and maybe we should wait until the rates drop. But because I was willing to take a chance on what I had learned both in my own study and through the education I was afforded through CAREIA, we were able to prove to ourselves the risk of investing works through immediate action.

The reality of investing in real estate…

Our success was also met with challenges and many sleepless nights. Even after we bought that property there was a lot of hard work, there were several setbacks, and we questioned decisions every step of the way. There were things that came up that we had to make quick decisions about without knowing what was best. Anytime you try working through a budget there will be disagreements with partners and people you love and trust. Just making a move and investing in real estate was not the complete answer to success. It has required hard physical work, sacrifice of time with family, and other challenges along the way. Truth is, being an investor isn’t easy. It’s easy to buy real estate and anyone can do it, but the question is why do you want to do it. My why keeps me moving forward even when it’s difficult, and why I’m willing to make the necessary sacrifices to make it work. I’m relieved I’ve gone on this journey with knowledgeable people around me who encourage me, who answer my toughest questions, and who can offer insightful wisdom. The relationships I’ve built while in CAREIA have proven to be invaluable. It’s why I was willing to take a seat on the board. The reality is real estate is difficult and can be risky, but having the right network of people around you can help mitigate risk and be the difference between success and failure.

What’s your “why”…

Since committing to real estate investing, I’ve experienced rewarding success. My portfolio currently includes two properties with three doors, with the potential to build three additional doors. As I write this, my partner and I are working on plans to begin our first build in the next couple months. The experience has been a blend of learning and growth, proving that taking action pays off. I didn’t wait for the perfect market or the perfect deal—I moved forward with what was in front of me, and it’s been a journey of steady progress and results.

If you're serious about real estate investing, I highly encourage you to get clear on why you want to get into investing in real estate, and to get involved with CAREIA. The association provides the knowledge, support, and resources that can help you overcome your doubts and fears. The connections you'll make and the education you’ll receive will empower you to take action and start building your real estate portfolio. Don’t wait for the perfect moment or deal; get started now, and let CAREIA help guide your path to success.

Steve Bell

Chicago Area Real Estate Investors Association - Vice President

Upcoming Events

CAREIA Board of Directors

Cash Flow Game Night (Members Only Event) Wednesday, November 6, 2024 @ 7:00 p.m.  McDonald's off Highland Avenue 1 Yorktown Shopping Center, Lombard https://www.careia.org/event-5793236  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! Dinner and Networking with Vendors Monday, November 11, 2024 6:30 - 8:30 p.m. Nonnie's Pizza • 1565 W 75th St, Woodridge Members & Guests: $15; Non-Members: $25; At Door: $30 https://www.careia.org/event-5879057 Short Term Rental Sub Group Meeting Monday, November 18, 2024 @ 7 p.m.  Portillo's Hot Dogs, 531 N. Randall Rd., Batavia, IL 60510 https://www.careia.org/event-5901207 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 Monday, November 25, 2024 @ 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-5879053 Cash Flow Game Night (Members Only Event) Wednesday, December 4, 2024 @ 7:00 p.m.  McDonald's off Highland Avenue 1 Yorktown Shopping Center, Lombard https://www.careia.org/event-5879050

President: Pete Gordon Vice President: Steven Bell Secretary: Rob Hayes Treasurer: Vanessa Krynen Librarian: Dwayne Denzinger Programing: PK Kleinert 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 “Don't wait to buy real estate, buy real estate and wait.” - T. Harv Eker

 

Library Book of the Month

Creating Wealth Through Self Storage: One Man’s Journey into the World of Self-Storage

Mark Helm

The old adage of buy low and sell high works, but it is not that cut and dry in today’s market. This is especially the case when self-storage is selling for a premium. It is daunting competing for facilities with large, well-funded operators and REITS, but this book will guide you and provide the resources to excel.

By the end of this step-by-step guide, you will possess the essential tools to effectively find, analyze risk, and compete with the larger players.

You will not only have the knowledge to BUY facilities, but BUY them in a way that fulfills your pre-determined parameters and business plan.

Mark Helm, CCIM explains in detail how he did just that... even with very limited startup funds.

As the economy improves and more people use self-storage, it is going to be more important than ever to know how to effectively compete with large well-funded operators in purchasing facilities.

Mark Helm is a leading authority in self-storage. With his powerful software, The Self Storage Valuator, Mark has grown from one unit to his own storage empire. In this book, he shares exactly how you can do the same. For more information, please visit: CreatingWealthThroughSelfStorage.com

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.