All Forum Posts by: Dale Stevens

Damian - that is why I go to REIAs to find people actually doing what I do. Which is why I am not a fan of the sale a thon groups.  I want to network with others, where it is obvious they are actually investing. they know their stuff, walk the walk, etc.

They don't push a program, or are not real investors, but salespeople selling you their books, programs, etc. 

The most obvious reason to not have meetings in the city is restrictive costs. I used to ask this, but when I got the answer it made sense. The amount of decent locations are limited, and then the rental costs of space is prohibitive, on top of the fees/taxes the city tacks on. 

I know many from the city that head out to the suburbs for meetings. I drive around for meetings because if I meet one person that becomes a lender for instance, I am paid for a long time to come after that. 

There are some small networking groups on Meetup. I think there is one on the 3rd Wednesday of each month at Goose Island by north/clybourn at 7pm.

But I do suggest you make the suburban meetings. Finding the right group of people to associate and network with is what catapulted my investing from just here and there, to doing it full time. Good luck to all of you. 

As to "unable to travel that far", in my view, it sends a message of concern if you were to ever need a partner on a project. Just letting you know what message/image you are putting out there.

I am one that gives my insights on the groups. 

I would say 99% of all properties have hidden electrical boxes to be honest. I saved myself on a deal by having a mentor. He was the one that told me that if there are so many "outlets" for water, you have to have x amount of pressure and you can't get that unless you get to 1.5" supply. He was the one that told me that from the main to the house, the homeowner is responsible for the upgrade, not the municipality.

While it didn't save me having to make the supply line upgrade, it allowed me to lower my initial offer to ensure I didn't pay more than I should have. If that isn't an argument to have a mentor (even if paid for which I did) that KNOWS the local area. The fee I paid to him, more than was covered by this one single mistake.

His connections in the building department got my permits quicker as well. 

SO I applaud you sharing your information, but having the right team on board could help you avoid future issues. Good luck on finishing your project.  I know many people that have done the 203k loan route, and let me tell you some lenders are better than other in guiding you through the process. Some are nightmares and only care about the closing commission. 

I hope your rehab turns out great @Eric La Pratt and if you need referrals for good 203 lenders let me know @Catherine Moran and @Kenneth Cowan

I have gone to many. I would be happy to share my feedback on them in private message. I don't share it publicly for fear of retaliation, after all they are my thoughts and personal opinions.

Connect with me, and I can send my views to you.

Connect with me if you want my personal takes on all the Clubs/Groups in the Chicago area that I have attended. I don't share this online as I know it will only bring on attacks by those I don't recommend.

There is a really solid RE Group that meets in Elmhurst, that is 100% no sales allowed. Meaning No Gurus, etc. So you should hit that one up.

Most are GURUs GURUs GURUs - you may not know but the local club that host the GURU, usually gets 50% of the sales after expenses are paid. So you pay to enter.. and boom, you pay for the product and the club gets even more money.

I only attend those that are 100% no GURUs and no sales allowed. 

Some groups are run by those that have been removed from other groups due to some "Shady" dealings. So yes, do be careful, and never judge one group based on your experience at another. I have found each group has its own personality and "vibe". They may not work for you, but another may. 

Have you tried networking at the local REI Clubs?

Welcome to a fellow Chicago area investor. I believe you can get some solid information here on BP, just a word of caution, in taking what you see posted on here 100% truthful or legit. Sadly, some people on here (as with any online site), either want to puff up their reputation by answering questions, but don't necessarily have the full information, understand our local markets here, etc. For the most part I find decent information here.

I do also suggest that there is literally no replacement for getting out and networking IN PERSON at RE Clubs. Get involved. Harder for people to be fakes when they can't hide behind a computer.  Just my belief. I still love BP, but found several on here, even those held out as "so called experts" when I met them in real life found their online resume to be fabricated and embellished.