All Forum Posts by: Evan Coopersmith

@Nicholas McCormick. Absolutely around at 7am. Connect with me and we can share numbers. (Talk to you tomorrow)

@Nicholas McCormick, thanks for the offer! What's your schedule look like in the next couple days? I'd be curious to learn more. (I'm an early-riser in Chicagoland, so that's generally my preferred hour for meetings). 

@Allan C. I appreciate that, and you're right, any back-of-the-envelope calculation suggests that much of the wealth comes from the equity accumulation, even in the earlier stages of the amortization schedule. And mercifully, building wealth is a more important goal than the cash flow, to be sure. I also see your point about avoiding bargain basement properties, especially insofar as tax shielding is easier with an asset of a reasonable size.

Your point about barriers to entry is also interesting, since I suppose those barriers can be geography (natural boundaries of mountains/water), but you're probably referring to that which impedes future construction?

@Allan C. That's exactly what I needed, thank you. I accept the need for a competent PM and the reality that competence typically ain't cheap. It seems there are plenty of ways to be penny-wise and pound-foolish. 

When you allude to "real wealth-drivers," to what are you referring? Long-term fundamentals? Micro-local patterns?

@Allan C. Thanks for the reply! I'm certainly cognizant of the risks of managing a property remotely (my wife and I did rent out our Chicagoland house for a couple years while living in STL). I don't mean to throw shade at my fellow Illinois residents, but I'm quite bearish on this state for the long-term. 

Your comment does bias me slightly in favor of Indy, since at least we're talking about a manageable car ride.

That said, I'd love to know the biggest mistakes you've seen - how do neophytes typically "crash and burn?" Knowing what NOT to do is often the most valuable advice!

@Jonathan Klemm, thank you for the reply. Do you have any particular meetups you especially recommend? While I doubt I'll be investing here (terrified that property taxes and the pension debt will ultimately cripple property values), I'm always interested in meeting new people.

@Jarret Jarvis, thank you for the excellent suggestions!

Would you, or anyone of your ilk be willing/able/interested in letting me partake in the analysis of a deal? (Not as part of my consulting business, just as an opportunity for me to learn and perhaps build a relationship?)

I can and will absolutely join the Indianapolis REIA. And of course, will gladly drive somewhere for a couple days, park myself somewhere and work-remotely as needed. What do YOU look for when roaming a new environment for that purpose?

Hey DuBois, thanks for the suggestion. How many of the folks at those meetups are investing outside of Chicagoland? Maybe I should join a meetup for another location?

Happy new year, folks! 

I'm a guy approaching middle-age, living in Chicago. For several reasons (property taxes, politics), I would prefer to begin real estate investing somewhere other than locally. Currently, my interests are Indianapolis and Louisville (though I would welcome other suggestions). 

My goal, over the next five years, is to utilize real estate in lieu of my current hourly consulting income, by building a portfolio of rentals.  

My professional background is data science / analytics, which means analyzing cash flows will probably come more naturally than building relationships, which apparently, is how one finds deals worth making.

Are there meetups in these areas I should attend (digitally at first, presumably)?  Curious to have some conversations with similarly-minded folks.