All Forum Posts by: Meghan McCallum

Thanks @Jack Medford! I will say that deals are VERY hard to come by nowadays. The days of shooting fish in a barrel are OVER! Its time EVERYONE start looking to tertiary  markets for cash flow. To CA and most of the coasts the numbers here are ok, but to Midwest investors...you really need a strategy, marketing plan, house hold name, or an amazing wholesaler to get in and get those deals!

The topic is, "Best practices on finding and calculating opportunities". This is a very polarizing topic as Chicago and most of the country's market cycles are being argued as both being still hot and other argue its opposite. Let's get together before the holidays lull us into apathy and keep our drive alive. 

Can I get everyone I tag to tag a few more people that you are connected to on here and get a great turnout at our new location?

@Malcolm Douglas, @Michael McClelland, @Melissa Szanati, @Jonathan Spitz, @Alexander Ramos, @Jordan Callaway, @Megan Roche, @Idris Lawal, @Brendan Finn, @Matthew Olszak, @Letizia Caselle, @Sterling Coleman, @Anthony Walters, @Account Closed

Hi Steven,

I still have yet to buy in Belize. The main reason was that there are no products to leverage purchases down there. Its all cash deals. I do love Placencia, though. That's where I'd be putting my $. My uncle (architect) will be moving down there and we will be partnering in some developing. That;s the plan anyways. Feel free to connect and we can continue chatting about it.

@Jacqueline Coombs @Chris Gregory @Paul Leason

Hope to see everyone looking to take leadership in the Club moving forward.

Tonight I'd like to talk about the direct effect of politics on our business. What it means today and in the future. We'll talk about Trump's plan to local political effect. See you tonight!

@Carl Fischer, I'm sure we'll be fine. We always are (until we aren't).  I really just love the opportunity to draw  attention to how much both our local and federal political decisions play in our real estate businesses. As it becomes time to vote in different localities I felt like MORE people should be paying attention. YES, amazing CPA's will figure out the next great loophole (that's why CPA's  and the loopholes are great). It could be scary if certain parties push this through in exchange for votes against something else. You never know with this administration.

Hey guys,

I'm not sure how many of you have taken the time or energy to read Trump's proposed tax plan. But, we should all pause and read it with careful consideration. @Brandon Hall  has already done a great summary of the plan. https://www.biggerpockets.com/renewsblog/tax-plan-... I will seriously suggest that those who are looking to captalize on captial gains tax advantages on the sale of their primary home do so before Jan. 1 if that was on your radar. @Linda Weygant and @Amanda Han, I'd love to get you to weigh in your opinions on the proposed tax bill. This could be a doozy folks!!!

I also want to encourage everyone to read Brandon's blog. His info he shared about better tax strategies on the BRRRR process should NOT be missed. https://www.biggerpockets.com/renewsblog/author/br...

When were mechanicals updated? Roof? Rent roll? What is market rent versus current rent? What was the last purchase price as to determine the new tax rate after sale?

NOTE: THIS MEETING IS ON TUESDAY. We are changing our normal day to make our meetings easier for everyone. All are welcome.  Let's get together and network, chat about local Real Estate and link up with other clubs around the Midwest. Currently we have a club in Milwaukee, The Quad Cities, Madison WI, and Chicago. Our club is based on data sharing, partnerships, and finding others who don't believe in the scarcity mindset.

Our other clubs are really getting the members to take action and inspire each other at each meeting talking about successes and failures as we help each other along.

Tag another investor you know!

@Linda Weygant thank you so much for bringing me into this conversation. And thanks for being so amazing in what you do. People are wise to fight for your services *Hey BP here's a tip for you- Linda like to be partnered in on deals...she'd rather work with you than just for you, so have a big project that your really need someone system and detail oriented??? Maybe looking for EVERY tax advantage and fiscal advantage of your newest deal? Maybe you can get your foot in the door with what SHE wants...not just with what you want...just sayin'* (Linda, you can punch me later)

@Austin Fruechting man, you nailed it. And I consider myself VERY willing to give my time to others. Just follow through and follow up. If some new investor wants to get my time then BUG me about giving it to you. I don't sit around always thinking about who I can help today. Ask (nicely and with something to offer) and you'll likely receive.

@Steve Vaughan VERY good point on sharing docs. I had offered to share parts, passages, ideas, and even addendums with people who have asked from INSIDE the state the contract was drafted for. But, we live in a litigious society. I want to help all the time...but that never grants you the freedom from being hurt by such altruism ANY of the time.

To wrap up: I used to be very anti-coaching. Anti-system sales, anti-book pusher...But, then I realized that I was just as much as a know it all as the pushers of info..worse. I was the pusher of my own opinion! Now, if people approach me to coach them I walk them through a list of questions that best lets me know if 1) we will work well together 2) I can deliver what you need 3) I am the best person for the job 4) that you will follow through and actually profit. 

Cheap mentors:

Books

Podcasts

Blogs

New guy know-it-alls who know nothing

Old people looking for the new guy to be HER/HIS exit strategy* but you work for nothing and learn it all for free (one must also search out current information from clubs or BP bc many mom and pops don't run their business AS a business)

Buying an investing system (to a point) to get you started on the right track

REI CLUBS!!!!!!!!!!!!!!!!!!!!!!!! Peer to peer mentorship and partnering is SOOOOOOO powerful!

*means best option

Coaches with the most value:

Local exports who do what you want to do in your back yard (make them partners?)

A successful investor who customizes your learning platform and pay structure based on symbiotic needs/wants

If you want a coach bc you want some hand holding...go get it. But only if you are actually going to move forward with your investment career. Its never easy. 

Quick reminder that the REI Meet-up is TODAY at 7:00p at WhirleyBall on Webster. We'll be at tables near the front and look forward to seeing everyone tonight!

1825 W Webster Ave, Chicago, IL 60614

Please feel free to reach out with any questions.