All Forum Posts by: Craig Sparling

One small word in defense of retrospection.  One of my favorite authors, Nicholas Nassim Taleb, sold me on the concept of Skin in the Game and holding all pundits accountable for prior predictions, myself included.  Only by reviewing past buy/walk decisions and market decisions will I be able to hone my chops for future decisions.

Quote from @Dan H.:

For me it is not the markets i did not invest in as much as the properties i did not purchase.  I lost one once that projected great return because i requested an estoppel before accepting the offer.  Another offer came in and was accepted.  I have lost properties for a few $k that were projecting return hat would have done outstanding even if my offer was noticeably higher.  

back then, it was not whether you would make a lot of money as mych as if there was a different purchase that would produce a better return.  I should have bought all of them 😀.  I sort of believed that RE would always have plenty of opportunities.  

Good luck

I love the "I should have bought them all." I have also looked through my files of non-buys: scared off on inspection, fell apart in negotiations, numbers didn't quite crunch.  Looking backwards I think I would have made money on ALMOST all of them with the market tailwinds the last few years.  Tough to stay disciplined as "Past performance is no guarantee of future results".

Good points all.  @Max Ferguson In the end it is all about what is next.

@John Clark I think the viable path to a presence element is huge. Reliance on a team a flight away wasn't for me as I was getting started, I am considering bending that approach.  Indiana wasn't on my radar, but it seems like I could likely get some better fundamentals and escape Chicago's fiscal vortex.

@Aaron Zimmerman my old Chicago buy box (Albany Park, Rogers Park, Irving Park, Lincoln Square, Ravenswood Manor) has moved pretty far away from my preferred fundamentals. But I may need to dig a bit deeper or expand my parameters.

I've been investing in Chicago for almost 15 years.  I've been incredibly lucky with tenants, turnover, properties, appreciation, connections etc.

That said I do occasionally find myself wondering, what if....

If I had bought in Florida or Texas or a booming college town.  Would slow and steady be replaced with meteoric?

Am I suffering from greener grass syndrome, or should I have "Lived where I want to live and invested where the money made sense."? What do you think the best "markets that got away" are?

I've had two sewer backups in the last couple of years.  One during a torrential rain storm and last week.  We do preventive rodding, but I guess it didn't get the job done.  

The city really screwed a lot of people with it's zoning and drainage.  Insurance was a no go since it was backed up.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $350,000
Cash invested: $40,000

The OG, my pride and joy. I went big early.

Investment Info:

Single-family residence fix & flip investment in Riverwoods.

Purchase price: $365,000
Cash invested: $550,000

Bought to live in, forced some equity and was able to get out almost all of my cash. 2.3% interest rate!

I've been freeloading BiggerPockets from afar for years. Now I am officially in their database.  I hope they are an even better experience beyond the credential wall.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $365,000
Cash invested: $550,000

Bought and renoed a 1965 house into a modern farm house.