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In the latest episode of the Straight Up Chicago Investor Podcast, listeners were treated to an insightful conversation with guest Andrew Fox, delving deep into the realm of real estate entrepreneurship. As an experienced figure in the industry, Andrew shared invaluable insights into the essential skills needed to thrive in the dynamic landscape of real estate.
Andrew began by emphasizing the indispensable role of building inspections in real estate ventures, even for properties earmarked for rehabilitation. Contrary to common misconceptions, he shed light on the importance of such inspections in uncovering potential pitfalls and guiding investors toward informed decisions.
One of the key takeaways from Andrew's discourse was the clarification surrounding auxiliary inspections, including radon, asbestos, and sewer scopes. By demystifying the necessity of these assessments, Andrew empowered investors to discern between essential inspections and optional add-ons, thus optimizing their risk management strategies.
Moreover, Andrew generously shared a treasure trove of questions that investors should pose to inspectors, equipping them with the tools to mitigate risks effectively. By fostering a proactive approach to inspections, Andrew underscored the significance of due diligence in safeguarding investments and maximizing returns.
The podcast concluded on a forward-looking note, with Andrew highlighting the technological advancements reshaping the inspection industry. From innovative tools to streamlined processes, he underscored the importance for investors to stay abreast of these developments, thereby leveraging technology to their advantage.
In essence, Andrew Fox's insights on the Straight Up Chicago Investor Podcast serve as a beacon for aspiring and seasoned real estate entrepreneurs alike. Through his nuanced understanding of the industry coupled with practical wisdom, Andrew equips listeners with the knowledge and foresight necessary to navigate the complexities of real estate investment successfully.
As the real estate landscape continues to evolve, embracing a mindset of continuous learning and adaptability emerges as a cornerstone of success. With voices like Andrew Fox illuminating the path forward, investors are empowered to chart their course with confidence in an ever-changing market.
Watch Straight Up Chicago Investor Podcast Episode 256 in Full Here
Questions We Answer In this Show:
Q. New Technology for Real Estate Inspections
Q. Illinois' Tough Standards for Real Estate Home Inspectors
Q. The Strict Requirements for Radon Testing in Illinois
Show Notes:
02:58 Housing Provider Tip: Set up lock boxes for access during emergencies!
04:54 Intro to our guest, Andrew Fox!
09:41 Skills for Entrepreneurial Success.
14:02 BrickKicker’s Model!
20:19 Inspecting properties that will be rehabbed.
25:47 Auxiliary Inspections.
33:03 Questions Investors should ask Inspectors.
35:23 Technology in the Inspection Industry!
43:06 Outlook on the Inspection Industry.
47:13 What is Andrew’s competitive advantage?
47:33 One piece of advice for new investors.
48:00 What do you do for fun?
48:13 Good book, podcast, or self development activity that you would recommend?
48:43 Local Network Recommendation?
49:20 How can the listeners learn more about you and provide value to you?
Connect with Mark and Tom: StraightUpChicagoInvestor.com
Email the Show: StraightUpChicagoInvestor@gmail.com
Guest Name: Andrew Fox
Guest Company: BrickKicker Inspection Services
Guest Link: https://www.brickkicker.com/
Other Links for show notes:
Good to Great (Book Recommendation)
Mathew Tarailo (Network Referral)
Chicago Investor Resources Shared
What You Must Know About Renting Your Property In Schaumburg
Survival Guide For Self Managers - 15 Tips Chicago Landlords Must Know(Especially House Hackers)
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