All Forum Posts by: Everton Souza

These numbers seem a little off. How are you looking to secure this? Financing is what could make or break this deal. The size of the building would mean that if something goes wrong in the deal, the ship would sink fast. 12 units is also heavy for a first timer. I would say get together with a trusted accountant and loan officer, both who have experience in rental property, and dig deep into the properties financials. Then once you are comfortable with the numbers, do a deep inspection of the property itself to make sure that you would be able to manage any maintenance issues that come up.

I wouldn't hire you either. At 16 you have no real world knowledge or any skills that is marketable. Here is what I would do at your age to reach your goals:

Get a job. Any Job. So I have some income to afford myself as many books I can buy about RE. 

This job would also give me real world knowledge of business and customer service.

At 18, study for your RE sales associate license.

With your license in hand, find the number one RE seller in your area. Hang your license with his brokerage, and copy his every move. Seek his mentorship, and split any deal you may come across.

If you do this, by 25, you'd already have ownership of property, and shortly after that, you will be able to become the developer you want to become by leveraging other peoples skills.

 Agree 100%. Give him a minute, let it sink in. 

 Chicago here as well, what part of Chicago are you in? 

I totally agree with you! Most people getting their real estate license these days probably just see the "success" stories on TikTok or those "get rich quick" shorts. They really have no idea what it's actually like to be in the business, and frankly, most are unqualified.

As for the licensing process itself, my take is that it's not really there to teach you the business. It's more about making sure you understand the rules of the game so you don't scam anyone. That way, if you do, you can be held accountable. Ultimately, it's nobody else's job to teach you how to be successful in real estate—that's all on you.

Monique, joining a group of investors to purchase a triple net is almost always done through a real estate syndication. Triple Net (NNN) lease agreements typically involve substantial initial capital and require comprehensive due diligence, including the engagement of highly competent attorney (which we have many here in BP) for drafting these lease agreements. These factors contribute to their high, often-prohibitive entry costs, making it best to be done through an experienced syndication operator.

I recommend starting with a smaller, 2-4 unit multi-family property in partnership with trusted friends or family. This structure allows for a more manageable entry into the market. It is crucial that all partners have a pre-existing relationship and actively participate in either property management (which can be outsourced to a professional property manager, that can also be found here in BP) or retain voting power for significant business decisions. This way it helps establish the venture as a partnership and not a syndication, which is important for SEC compliance.

Edit: I wanted to add, that engaging a property manager is to optimize the level of passivity youre looking for. While some oversight will always be necessary, the property manager handles the day-to-day operational responsibilities, while you and your partners focus primarily on administrative decision-making rather than direct property management.

Good morning,

Regarding the pursuit of passive real estate investment with a capital of $25,000, I believe it's important to set realistic expectations. A $25,000 investment may not be sufficient for truly passive real estate ventures, with the primary exception being REIT's. Most other real estate investment avenues within this budget would likely necessitate active involvement and a significant time commitment.

For instance, acquiring a property with $25,000 in total out-of-pocket cash would almost certainly lead to substantial ongoing maintenance and repair obligations, directly contradicting her goal of passive income. Even "turnkey" properties are often marketed as hands-off, and we all know it is highly improbable to find a genuinely passive turnkey option at this price point without additional investors being involved.

In my professional opinion, the most viable options for Monique to achieve a passive real estate investment with $25,000 would be going with REITs, as was mentioned in other posts, or she and her husband can consider partnering with other investors who have similar capital to pool their resources. They could then engage a professional property management company to manage the acquired property, thereby getting as close to passive as they seek.

 Let me know when you are in the city or around the South Loop area, I would like to meet you in person and discuss doing business in the Chicago Market.

 Nice, if you find yourself in the city, let me know, we can get together over coffee and and discuss.

 Hey!  Yes, welcome! Not in Chicago anymore? where are you now?