All Forum Posts by: Dan Zambrano

Thanks for the question Jay.

There is a very long answer that I partially got into on the first post in this thread, but not in depth. 

The short(ish) answer is:

I am not just interested in a path as a developer primarily to make money. My primary aim is to drastically improve design on a fundamental basis. As I study FLW's work I notice his brilliance in design could not just be "slapped" or "bolted" on in- say even a comprehensive gut rehab. The best design begins from the sketch/drawing board, closely working with structural engineers to create Romance in design. Think Fallingwater and how the slabs severely cantilever over the waterfall giving a floating appearance... just an example.

So yeah gut rehabs are awesome in their own way (especially the way @Jonathan Klemm 's team executes!), but it is my mission in life to return to the glory of FLW's Usonian designs, or get as close to it as possible in a cost effective way.

This is more of a 10 year plan. Understanding that in order to get to that point I will need maybe a decade of working with existing methods and existing design templates (particularly those of John Hanna who I briefly worked for as a drafter). 

When I get to the 20M mark, this will be my sole focus in professional life.

Not quite a short answer, so sorry about that. 

Again thanks for asking I had fun detailing things 🙂

 Thanks for the validation my friend. I will tell you the whole story over a few cold beverages haha.

Thank you for the referral! Wifey and I just talked to Jake yesterday for some help on things in the near future, already very impressed by the professionalism and thoroughness!

As to how I kept my cool?... I think that is a great question and the truth goes to the root of things. I believe I was placed on this earth to not only create more beautiful spaces, but to make those spaces attainable to the average income. So the stress does affect me, but I have a definiteness of purpose that this is why I am here. I have "burned the boats" on any alternate path, so when I know this is the only thing I will do for the rest of my life there is an overwhelming calm that comes from that. Don't get me wrong though, I did lose sleep and felt everything, but I have no choice but to move on. It also helps me be empathetic and lead with love in all situations. With boundaries as well when necessary, but love first.

haha, that turned sappy. 

Anyway thanks for checking in my friend! Excuted to chat in person again at some point🙂

While I am project managing the cosmetic work at the latest multi deal (should be wrapping up with that by end of the week) I am now ramping up my efforts in finding a path to buy land and build a multi. For the highest return on rent I think my 1st build will need to be in the city proper. Pilsen, or comparable...will need to be a walkable area 10-15 min drive to downtown and land cost that is reasonable, this will be the hardest thing I have ever done but I am charged up for the challenge. 

Closed last week! This was the longest most arduous purchasing process. There were several aggravating factors: 

-larger purchase 3: unit 

-The building needs TLC

-Previous owners did not speak english

-Realtors on both sides were feuding openly

-I had to coordinate repairs before closing to satisfy loan

-Access was closely controlled the whole time and most of the time it was denied

It was a real marathon folks. The wildest thing is that now that I have closed, the REAL work begins of stabilizing the thing lol. Still, for the most part I am having fun, this process reminds me that real estate investing is NOT for everyone. As much as I like to pretend it is and rush to try to help when people even off handedly mentions they are considering it lol.

Its definitely DIRTY work. You will get yelled at. You will be disrespected (sometimes by your own side of the deal! -_- ) You will need to keep your cool through the entire process, and not let the stress bleed off to your relationships and most importantly your home. You will need to pay more than you expected and do more work just to get to the closing table! Additionally, in my opinion the only prudent way to do real estate investing is to do value add. What meetkevin calls "buying in the wedge"(youtube it!) and holding- when you do this the gains are massive, you force equity by 15-20% (avg home price in Chicago is 375K, going this route on that amount will force between $50-100K of appreciation on the avg home! That hits your net worth in a huge way) - Still it is work. and it is grueling work, that many people cannot handle, stress out even coordinating cosmetic work.  I do almost none of the work myself, I have a close circle of trusted contractors that do quality work at a reasonable price. 

So yeah, just a glimpse of a humbly successful RE investor for yall. I know there are people out there that will hear all of this and still say "I'm in!". This (Bud?) blog is for you!

So at the end of this month I will be about 1.5% to my total goal for the next 6 years (20M). Still lots of work to go, and I will check in periodically to share highlights. The cool part is even in a so-so appreciation year in Chicago, current net worth is growing while I sleep. I look forward to being on the other side of this journey in early 2030s and spending 90% of my time doing passion projects and hanging with Family.

But for now, I am finding passion in the smallest actions, and doing as much GOOD as I can for everything I have influence over. From lenders, to representation, to contractors to tenants to folks wanting to connect/ learn/share and build community.

Peace!

Nice update on here:

3 unit that I am in escrow appraised with seller concessions!!!

Now the real hard work begins haha. At the close of the year I should be a $2M in assets with the new building. 18 more to go haha!

Yeah I have come to realize that I will need to get connected with limited partners in order to really scale, so that is something I will be looking into heavy the rest of the year, as well as networking with investors in Chicago and suburbs.

Also, I haven't talked about this alot, but I spent this morning at the lot in Mchenry County had a contractor come out and clear the entire half acre lot of all trees, ready for foundations! If anyone is curious I documented it on my youtube channel Life and Architecture.

Be good yall and happy memorial day!

It was about time I had a few wins on here after months of none haha.

Cheers!

All Escrow'd up !

Hopefully negotiations proceed smoothly. I am definitely not the grinder type, I like having a fair deal all the way around. So yeah lets see how things go, should have this closed in the next month god willing.

Cheers!

Offer submitted on a multi folks. Keep me in your prayers😅🙏🏽

Wow, props on the title alone! Your story is quite inspirational, congrats my friend and hope to see that for myself within the next 2-3 years🫡😎

Okay, another quick update. I was able to get all documents submitted to an MLO that was recommended by the great and powerful Jonathan Klemm :) . 

Now its a bit of the waiting game, but as stated previously the play will be a 3-4 unit in a trendy-ish area of the city.

Hope everyone is doing great and making strides to get the bag and help more people/ be of service leading into Q2!!!