Straight Up Chicago Investor Episode 159: From Successful BRRRR to Major Project Hurdles in Chicago's Western Suburbs with Zach Gring
From successful BRRRR to a delayed, over-budget project, Zach Gring shares lessons learned from his investing journey!
Zack starts by explaining how he established an asset class to focus on and the reasons for his criteria. He talks through a successful BRRRR project in Batavia and speaks to managing the rehab of a tenant-occupied property. He also shares some lessons learned from his delayed project in Glen Ellyn. Throughout this episode, Zach shares the importance of establishing a network and a focus when getting into real estate to set yourself up for success!
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Connect with Mark and Tom: StraightUpChicagoInvestor.com
Email the Show: StraightUpChicagoInvestor@gmail.com
Guest: Zach Gring, The Axon Group
Link: Landlording on Autopilot (Book Recommendation)
Link: Vince Incopero (Network Recommendation)
Sponsors: The Axon Group (EXP Realty) and Appeal.tax
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Guest Questions
03:21 House Provider Tip: Be sure to check alleys for excess garbage left behind by tenants during turnovers!
05:07 Intro to our guest, Zach Gring!
07:27 What sparked Zach's interest in real estate investing?
08:30 Where did Zach start investing and what are some of the nuances of small-town investing?
10:56 How did Zach get "scrappy" to increase his savings rate to invest in real estate?
12:30 Zach dives into his first deal in Batavia!
13:50 How did Zach manage rehab of a tenant-occupied unit?
19:50 How was the GC selected/managed and what were the unforeseen construction items?
24:15 Zack talks about his next deal in Glen Ellyn!
29:28 What is the exit strategy on the Glen Ellyn property?
31:48 Where is Zack focusing on geographically?
38:10 Zack shares his hindsight perspective on research that should be done when getting into real estate.
Wrap Up Questions
40:30 What is Zachi's competitive advantage?
41:40 One piece of advice for new investors.
42:02 What do you do for fun?
42:15 Good book, podcast, or self-development activity that you would recommend?
43:04 Local Network Recommendation?
43:39 How can the listeners learn more about you and provide value to you?
That's our show! Thanks for listening!
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Production House: Flint Stone Media
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