Chicago Action Investors 4/09

[Cory Gardner]

Back at again, getting bigger, faster, & stronger.  Chicago ACTION investors met up this weekend for a great strategy session and deal analysis. @Zachary Sargent @Patrick Howe @Robin Pritts @Sharie Jackson @Kaleb Packer

We all met at the ongoing project at 12749 S Racine (previously burnt out house) to discuss the scope of work for the project. A few contractors were hard at work getting the property turned around.  @Dhru Das @Account Closed in the next few weeks.

This project has been a great learning experience for everyone involved, there have been several road bumps with the city, getting the property inspected and approved to continue the rehab (relating to the fact that it was a fire property, the city looks upon this property as a high risk and so it's under extra scrutiny).

Dhru learned that the important thing to do is to keep moving along in the project and overcome each obstacle as they arise.  Aaron mentioned that many times new investors get stuck, give up, or can't continue when small hiccups like what Dhru faced arise because they lack the knowledge or the team to push through.  Fortunately for Chicago Action Investors we have so many talented individuals involved we can overcome just about every obstacle that might arise.  In this case we were operating on the city's watch so there isn't a lot you can do about that.

After walking through the ins and outs of this project, we travelled to 648 e 93rd where there's also a ton of work being done on this project.  We talked about some of the architecture that's changing.  What was decided to alter in the kitchen area, and since we're not making any serious changes to the property we don't need have to get the same permits we might have to for a property where we're altering the structure significantly (more structural change increases rehab costs). Since this is more of a starter home these changes weren't necessary.

Great group turnout last week. Congratulations to everyone that is stepping up to take action.  If you like what you hear about us and want to get involved, reach out to Sean, Aaron, or me and let's get connected.

Join us tomorrow for our next group meet-up in Chicago. Message Aaron Vaughn for details.