Rehabbing and Renting in South Chicago with Martin Neal

Martin Neal uses the BRRRR strategy for rehabbing and renting homes in South Chicago. He now has 11 properties with 16 doors, most of which he picked up in the last 3 years. In this episode of the Real Estate Rookie Podcast, Martin gives some advice on finding great section 8 tenants, many of which helped his real estate portfolio through the COVID-19 shutdowns. He also talks about buying homes off of auction sites, but making sure you’re able to do your due diligence before putting in an offer.
Martin has also done what many investors advise against, worked with his family. He has his dad running management on some of his properties and helps when rehabbing them as well. How did Martin work with his dad without jeopardizing their relationship? He sat down with his father, laid out the roles and responsibilities of the project, and paid him for his time. It’s tough finding trustworthy workers and partners in real estate, so don’t disregard family just because they’re family!
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How to Invest in Real Estate Using the BRRRR Method 👇
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SECTION 8 HOUSING INFORMATION FOR LANDLORDS & TENANTS
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3 Hidden Pitfalls of Online Auctions (& How to Avoid Them)
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Family Members Make Great Business Partners-Here’s Why
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Show notes and more episodes of the Real Estate Rookie podcast:
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In Episode 71 of the Real Estate Rookie Podcast, We Cover
- Using HELOCs to fund your future BRRRRs
- Having a defined plan so you can scale faster and with less headache
- Having the bravery to buy more units, even when it pushes you into new territory
- Why townhouses may be an attractive asset in specific parts of town
- Working with family (without destroying your relationships)
- Buying homes at auctions
- And So Much More!