Phillip Faries

My name is Phillip, I currently own 3 properties in the city of Chicago. In 2014 I purchased a 2 bed, 1 bath fixer upper and lived in it while completing the work myself. When the work was completed, I had the property appraised gaining me substantial equity. While I recognized I was lucky on my first deal, I figured with a little education I could repeat the result. Soon after, I did a cash refi and used those funds to close on a 2nd property in the city. After moving in, I then became a landlord and rented out my first property. While living in the new unit, I gave it a complete gut job, this involved turning a studio into a small 1 bedroom, due to this, I knew I would be able to get more rent. While it did take me over a month to rent the unit out, I did set a comp record in the building for the size of the unit. A week after finishing unit 2, I was able to find a great opportunity in the Gold Coast area. A 2 bed, 2 bath that needed a full gut. I am currently living in the unit while working on it and hope to have it completed by January and rented by February 1st.