Finding Wins In The Windy City-Part 1

Day One of Four Wrap Up

Chicago is one of my favorite cities to visit when I'm working with students due to the vast amount of quality sporting events and cuisine that I can enjoy after working with my students. Oh, and yeah, there are plenty of great deals that can be found in Chicago. I knew from previous visits that we would find plenty of "Wins In The Windy City!"

After getting a little R and R from spending Saturday night and all day Sunday recharging my batteries from a busy previous week in Los Angeles with 1:1 student, Jeremy Streeter (www.WeCloseNotes.com). Monday rolled around and I found myself making the short commute from my hotel in La Grange to Berwyn, Illinois. I met my 1:1 coachng student, Andrew Teutsch. Andrew just recently retired from Wrigley and was a relatively new, full-time student who had been a studying for several years, but was now ready to transition to investor.

We spent the first hour visiting (we had spoken for several hours on the phone prior to me coming out so it wasn't like I didn't know Andrew) and identifying along with outlining what we would be focusing on for the four days at hand. Day one would be spent putting together and scheduling interviews for potential team members for Andrew's team along with focusing on marketing and finding private money for Andrew's potential deals.

We made several phone calls to realtors that were listed on the Chicago Creative Investors Association (www.cciainfo.com) website, along with calling a few realtors that we found on Craigslist.com advertising themselves as investment realtors. One of the five called us back and recommended that we meet with one of his colleagues who worked in DuPage County. We set up an appointment to meet with him the following morning.

We then posted several Craigslist ads for Andrew to raise private money, attract other wholesalers, along with finding lease option/owner financed buyers. We also reviewed the posted ads and were able to identify two hard money lenders that had preferential terms. Andrew pulled out a list of nationwide hard money lenders that the CCIA club had given him. I made a few phone calls off of the list and was able to track down three mini pools of REO's in Atlanta, Illinois, and in Texas from one hard money lender!

After getting the tapes in, I explained to Andrew how he could put these under contract with nothing out of his pocket with a non-exclusive option agreement and market the properties to other investors and make a nice wholesale fee on each property purchase. He loved that idea and so we immediately contacted several other local 1:1 students for them to review the tapes for any properties that they might like along with requesting referrals for a local title company and some local private investors.

After reaching out to a few other investors, Andrew pulled up his website. We identified one lead off of the submitted leads and were able to get in touch with the seller who submitted the lead. It turned out Roseanne (the seller) was open to several creative ways of making the deal work and we found out she was a very active bankruptcy attorney. We decided to go take a look at her condo and set up an appointment to visit with her on Thursday morning. We were really excited to make that contact as it could lead to a lot of quality leads for Andrew later on.

We decided to wrap up the day around 6:00 pm so that we could make the drive up to Uno's in Chicago for some AWESOME deap dish pizza! Let's just say that after one slice of heaven I was stuffed, but I had breakfast for the next morning! Andrew was excited about Day 1 and what we had lined up for the rest of the week! Stay tuned to find out how we found a few more wins in Chicago, and I'm not just talking about the Blackhawks, Bulls, Cubs, or White Sox!

Oh, and I was able to line up sweet mid-court seats to Game 6 of the Chicago Bulls and Boston Celtics playoff game on Thursday night! Now if I could only line up a date! We'll see how that goes and if I can pull a rabbit out of a hat! Anyway, it promises to be a fun time, and another check off of my bucket list!

Andrew Teutsch-Real Estate Investor

Andrew Teutsch
Andrew Teutsch

Day One Wrap Up

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LorenaGerlach profile image

LorenaGerlach 7 years ago from Dallas, TX

Can't wait to hear more about Andrew's time with you!

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