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Episode 8: Working a 9-5 While Building a Robust Real Estate Operation with Ibn Abney

By Mark Ainley

So many people working day jobs want to build wealth through real estate but don’t know how to get started. Ibn gives great advice on how to leverage the day job as a springboard to grow your real estate business. Ibn not only oversee his own rehabs and self-manage his tenants, but goes the extra mile to understand his community and create win-wins for everyone.

And where there wasn't a meet-up for his specific area, he started the South East Chicago Real Estate Club! Ibn dishes out advice on how to find deals, source tradesmen for jobs, and assess risk. If you like what you heard, please hit the subscribe button and leave us a review!


Timeline:

Landlording tip 3:00

Guest Intro 5:10


Questions:

How has the gentrification you saw in Brooklyn influenced how you invest in Chicago?6:20

What are areas you’re currently invested in that you see gentrification occurring? 7:40

What can a TIF district do to benefit you? 11:25

How has your background as a W-2 employee benefitted your real estate career? 13:20

How are you financing your investment properties since you do have a W-2? 14:50

What made you start investing in condos? 16:00

What kind of issues do you run into with HOAs, and how do you address it? 18:25

What processes do you have in place to do all this with a full time job? 20:45

How has the age of buildings influenced what you buy? 23:00

What’s different today from a few years ago? 31:25


Wrap up

What’s your competitive advantage? 35:05

What’s a piece of advice you’d give someone looking to start? 35:40

What do you do for fun? 36:04

Can you recommend a self development product? 36:25

Local network recommendation? 37:30

How can people reach out? 38:10


Guest Name:  Ibn Abney

Guest Company: South East Chicago Real Estate Club

Guest Link:  https://www.meetup.com/South-East-Chicago-Real-Estate-Club/#:~:text=The%20South%20East%20Chicago%20Real,wishes%20to%20promote%20their%20business.

Other Links for show notes:

Chicago Enterprise Zones:  https://www.chicago.gov/city/en/depts/dcd/supp_info/enterprise_zone_program.html

Enterprise Zone Map:  https://data.cityofchicago.org/Community-Economic-Development/Boundaries-Enterprise-Zones/64xf-pyvh

South East Chicago Real Estate Club Facebook:   https://www.facebook.com/pg/ChicagoBRRRRTeam/posts/

Book Recommendation- Atomic Habits:  https://www.amazon.com/Atomic-Habits-Proven-Build-Break/dp/0735211299

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Author

post.authorName
Mark Ainley
Investor, Managing Broker, and Property Manager
Price is what you pay, Value is what you get! I want to provide value to others and make some money along the way. I have a solid foundation in Chicago real estate because I am a Real Estate investor in both Residential and Commercial/Industrial markets while being a founding partner at GC Realty & Development LLC and co-host of Straight Up Chicago Investor Podcast. In the last 20 years we renovated 500+ properties, invested in commercial properties, managed over 7000 units/tenants, leased...
Price is what you pay, Value is what you get! I want to provide value to others and make some money along the way. I have a solid foundation in Chicago real estate because I am a Real Estate investor in both Residential and Commercial/Industrial markets while being a founding partner at GC Realty & Development LLC and co-host of Straight Up Chicago Investor Podcast. In the last 20 years we renovated 500+ properties, invested in commercial properties, managed over 7000 units/tenants, leased over 4,000 properties, featured on CNBC’s TV show The Deed, co-host on Chicago's AM560 Real Estate Revealed Radio Show, and invited to speak & sit on panels at numerous investment summits across the country. I have also been blessed with the opportunity to be a guest on over 30 top podcast platforms. GC Realty & Development, LLC, currently manages over 1,200 investment properties throughout the Chicagoland area. In 2019, 2020, 2020 and 2022, GCR&D was featured on the Inc. Magazine list of top 5,000 fastest growing companies in the United States. I take great pride in providing valued feedback to beginners and less experienced entrepreneurs on what steps not to take or what steps to take sooner in growing a younger business.
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