Generating passive income AND enjoying free vacations.

I have zero experience in real-estate, but I do not want to have a 9-5 be my main source of income.

I understand these questions are more personal decision based but I enjoy hearing feedback and experiences from others. 

The other thing that interests me is that once I learn this, through you all and experience, I want to teach it to others so that they can achieve the same thing.

I am really enjoying this side of the business.

A lot goes into picking locations, venues, and dates we think the BiggerPockets community will enjoy! 

Timeline and Summary of Real Estate Experience with Altus IG Real Estate LLC / Altus Investment Group and Kevin DuganInitial Introduction (Approx. 7 Years Ago)My daughter and I attended a real estate expo in Los Angeles.We reconnected with my daughter's former schoolmate, who was active in real estate management and construction in Chicago.He introduced us to his company, Altus IG Real Estate LLC (also known as Altus Investment Group), managed by Kevin Dugan.First Property PurchaseWe purchased our first rental property.Kevin Dugan personally inspected the property and estimated renovations at \$30,000 (verbal estimate only).Over six months, we were billed \$59,000 in renovation costs.After delays and several emails, the property was finally rented.The first year yielded a 12% CAP rate with no missed rent payments.First Private LoanEncouraged by the initial success, my daughter convinced me to provide a private loan to Kevin.After one year, Kevin repaid the loan in full.Second Property & Second LoanWe purchased a second rental property and extended another loan to Kevin.Renovation costs escalated to \$75,000 without an itemized estimate.Escalation of IssuesRental income became inconsistent.We received invoices for unexpected expenses (e.g., cleaning and utilities that tenants were supposed to cover).Communication with the management team deteriorated.Tax documents were incorrect and required significant effort to amend.We began experiencing financial losses.Conclusion and Legal ActionWe sold both properties in Chicago, to halt further losses.Kevin stopped repaying the second loan—interest payments ceased completely.Multiple outreach attempts via phone, text, and email have been ignored.We are currently seeking legal counsel to recover the unpaid loan.The loan includes a personal guarantee from Kevin Dugan.Public WarningKevin Dugan presents himself as a real estate investment expert on Instagram.In our experience, his business practices were unethical and unsustainable—seemingly using new investments to pay off old debts ("robbing Peter to pay Paul").

Do you see you or your friends/family getting any personal enjoyment of the property?

I hope you enjoy it as much as my wife and I have for the past 20 years :)

Plus, knowing how to talk to people, how to appear non-threatening, how to negotiate respectfully, and how to research the property title before making a move, all of that adds up.I actually wrote a book specifically about this, based on my work and experience over the years, going into all the tools and techniques that have worked for me and others in the field.If you want, shoot me a private message with a mailing address, I’d be happy to send you a complimentary copy.