Assuming that you already have your first property up and running successfully in the Chicagoland area and your business is stabilized financially, it’s time to begin considering scaling and expanding.
Scaling your business will allow you to make more money with less work (!!!). You’ll have more cash flow that can be distributed back into your business. The more properties you have, the easier it will be to have systems and processes in place to manage your portfolio in an easier manner, such as hiring a Property Management Company.
Check out this week's podcast episode with Sean Connolly from Scale Virtually who talks about his not so usual journey of scaling to a multi- million dollar portfolio and the lessons and tools he’s acquired over the past 8 years. Sean provides his advice on investing in certain SouthSide markets as a new investor and if you’re not doing volume, why it’s so important to control your material cost. Sean also provides his thoughts on the imminent future of the Chicago real estate market. Lastly, he explains the role and significance of virtual assistants and how they can help you scale.
Don't forget, you need a strong property manager to help you with the day to day Property Management activities or at least a point contact to go to if you are currently self managing. Click here to schedule a call with Mark Ainley to discuss how having an experienced Chicago Property Management company in your corner can be the difference between a successful cash flowing property or loss of opportunity.
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