Second City Real Estate Presents House Hacking University! Join us at Begyle Brewery at 6 pm for a panel discussion about house hacking. Each month our featured guest will talk about what their first house hacking experience was really like. March 8th 2018 our guest will talk about buying a totally vacant property and having to lease it up quickly. After the first year he converted it to AirBnb and started an AirBnb management business. @Syed Lateef started looking to house hack and after much patience and bumps in the road he closed on a new rehabbed property in September 2016. His sister decided to sell her condo and house hack and within a couple months she was doing it too! They started converting their units to short term rentals and after a year he started an AirBnB Management company and quit his job to run it full time.
Syed will talk about:
* Being patient and waiting for the right deal
* Leasing up a vacant property and tenant screening
* Traditional Rentals VS AirBnb
* What he learned as a new landlord
* What being a landlord is really like
“After 1 year, 50 showings, 10 offers, 3 offers over list, I FINALLY went under contract on a GRAND SLAM property in Jefferson Park. This was a vacant property 4 unit property with a bonus 5th unit. With all 5 units the Monthly Rent was at $6,500 a month on a $500K property. Finding a rehabbed building over the 1% rule is impossible in Chicago.
We ended up starting an Airbnb business in this building which made my revenues go more than $11K a month. After 1 year of buying my first property I ended up putting my notice at my Corporate job as Financial Manager to run my own Airbnb business.”