Are you interested in real estate investing but not sure where to start? Tune in to the latest episode of the Straight Up Chicago Investor podcast where we had the pleasure of sitting down with Brian Basic, a seasoned real estate investor with a wealth of experience in various types of investments.
During the podcast episode, Brian shared his family's origins in their real estate investment (REI) business and how it led him to start his own ventures. His years in the industry provided him with valuable insights into a range of real estate investments, notably condo deconversions, and buy-and-hold rentals.
One of the points that Brian highlighted was the power of buy-and-hold real estate. He discussed his personal experience with it, emphasizing that through long-term ownership, real estate investors can increase their equity position and cash flow with the increase in value. He encourages beginners to get started and take advantage of these benefits, which can lead to long-term success.
Brian also discussed the differences between being a landlord in the City of Chicago and the Suburbs. He went into detail about his geographical areas of specialization, including West Lawn, Garfield Ridge, and other areas surrounding Midway Airport.
Aside from these, Brian also shared the lessons he has learned from his REI. As someone with broad and varied investing experience, he emphasized the importance of resilience, patience, determination, focus, and staying updated on market trends.
We learned so much from Brian, who generously shared his knowledge and insights from years of experience in the industry. This podcast episode is worth listening to for those who want to tap into the Chicago real estate investing market.
Questions We Answer In this Show:
Q. How Much Does It Cost to Live in Chicago's North Side Neighborhoods?
Q. Uncovering the Realities of Living in Affordable Neighborhoods: Meeting Tenant Expectations
Q. Maximizing Your Real Estate Investment Potential Through Unique Financing Strategies
03:16 Housing Provider Tip: Ensure your leases are compliant with the latest laws this leasing season!
05:31 Intro to our guest, Brian Basik!
07:24 How did Brian and his family get started in REI?
13:28 Brian’s Lessons Learned!
19:34 What is Brian’s REI focus today?
22:01 Land-lording in the City vs Suburbs!
24:19 Positive momentum in West Lawn and surrounding neighborhoods!
34:30 How have Brian and his team set up property management?
38:22 Where does Brian want to be 10 years from now?
42:07 What is Brian’s competitive advantage?
42:28 One piece of advice for new investors.
43:07 What do you do for fun?
43:24 Good book, podcast, or self-development activity that you would recommend?
44:05 Local Network Recommendation?
44:32 How can the listeners learn more about you and provide value to you?
Guest Name: Brian Basic
Guest Company: OAC Management
Guest Link: http://oacmgt.com/
Other Links for show notes:
Chicago Investor Resources Shared
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