Episode 8: Working a 9-5 While Building a Robust Real Estate Operation with Ibn Abney

May 29, 2020

So many people working day jobs want to build wealth through real estate but don’t know how to get started. Ibn gives great advice on how to leverage the day job as a springboard to grow your real estate business. Ibn not only oversee his own rehabs and self-manage his tenants, but goes the extra mile to understand his community and create win-wins for everyone.

 

And where there wasn't a meet-up for his specific area, he started the South East Chicago Real Estate Club! Ibn dishes out advice on how to find deals, source tradesmen for jobs, and assess risk. If you like what you heard, please hit the subscribe button and leave us a review!

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Connect with Mark and Tom: StraightUpChicagoInvestor.com

Email the Show: [e-mail]

Guest: Ibn Abney of South East Chicago Real Estate Club

Chicago Enterprise Zones: https://www.chicago.gov/city/en/depts/dcd/supp_info/enterprise_zone_program.html

 

Enterprise Zone Map: https://data.cityofchicago.org/Community-Economic-Development/Boundaries-Enterprise-Zones/64xf-pyvh

 

South East Chicago Real Estate Club: Facebook:  https://www.facebook.com/pg/ChicagoBRRRRTeam/posts/

 

Book Recommendation - Atomic Habits: https://www.amazon.com/Atomic-Habits-Proven-Build-Break/dp/0735211299

 

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Landlording Tip 3:00

Guest Intro 5:10

Guest Questions

How has the gentrification you saw in Brooklyn influenced how you invest in Chicago?6:20

What are areas you’re currently invested in that you see gentrification occurring? 7:40

What can a TIF district do to benefit you? 11:25

How has your background as a W-2 employee benefitted your real estate career? 13:20

How are you financing your investment properties since you do have a W-2? 14:50

What made you start investing in condos? 16:00

What kind of issues do you run into with HOAs, and how do you address it? 18:25

What processes do you have in place to do all this with a full time job? 20:45

How has the age of buildings influenced what you buy? 23:00

What’s different today from a few years ago? 31:25

Wrap up questions

What’s your competitive advantage? 35:05

What’s a piece of advice you’d give someone looking to start? 35:40

What do you do for fun? 36:04

Can you recommend a self development product? 36:25

Local network recommendation? 37:30

How can people reach out? 38:10

Thanks for listening! If you found this episode useful, leave us a comment and hit that like button, it helps us out tremendously!

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Production House: Flint Stone Media

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