Episode 51: Becoming "Brick Rich" on the Northside; Owning 74 Doors by Age 29
Would you trade salary for knowledge? John Westbrook spent time straight out of college working for one of Chicago’s largest property managers to build-up his foundational knowledge of the industry. John has since transformed this knowledge into a substantial portfolio of multifamily buildings on the Northside. John explains how he plans for the long-term with his rehabs, appreciates previously gutted buildings, and focuses on the end users experience to differentiate his investments (it’s much more than numbers on a spreadsheet). John also shares the importance of finding mentors and how his partnerships have catapulted him to success. If you enjoy today’s episode, please leave us a review and share us with someone who may also find value in this content. Connect with Mark and Tom: StraightUpChicagoInvestor.com Email the Show: StraightUpChicagoInvestor@gmail.com Guest: John Westbrook of Logan Square Real Estate Broker | @properties Sponsor: ShowDigs Sponsor: Appeal.tax Monthly Tip: Renovo Financial Link: Luke Blahnik - Chicago Real Estate Broker | @properties Link: Muros | A Global Art Activation Agency Link: Bigger Pockets Link: The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It ----------------- Guest Questions Intro. 9:30 What are some key things you learned while working for such a large landlord? 13:20 Did you ever consider buying smaller buildings rather than larger buildings? 14:30 What are some neighborhoods you’re active in? 16:00 What are you looking for on a deal in Humboldt Park? 17:45 When you got artwork commissioned, did you need to get permissioned for it? 25:30 What would you tell someone who owns a 3 unit in terms of financing? 32:10 Walk us through this large multi family. 33:50 How do you estimate how long it will take to rehab a large building? 38:20 What can you tell us about west humboldt park? 42:30 Wrap Up Questions What is your competitive advantage? 45:33 What is one piece of advice you’d give to a new investor? 46:23 What do you do for fun? 47:30 What is a good self development activity you would recommend? 49:20 Quality resource 50:10 How can we reach you? 50:50 That’s our show. Thanks for listening to another great episode! If you want to make the most of your investment, connect with us at https://www.gcrealtyinc.com/. ----------------- Production House: Flint Stone Media Copyright of Straight Up Chicago Investor 2021.