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Chicago Property Management Blog

Losing 50 Rental Properties to Theft | David Greene

Mark Ainley - Tuesday, March 19, 2024

Recently we had author, investor, & Bigger Pockets Podcast Cohost David Greene on the show and he told to Straight Up Chicago Investor podcast listeners something that shocked us all.

David Greene, a respected figure in real estate, shares a turbulent journey losing control of 50 properties to fraud. Exploiting a website glitch, fraudsters transferred titles and sold them. David faced law enforcement delays and tenants' confusion. Reclaiming his properties, he encountered 1031 exchange challenges due to a rule limiting property identification, forcing rushed decisions. 

Luxury property investments led to regulatory issues, and rising interest rates strained refinancing, impacting his brokerage and mortgage company. 

Despite setbacks, David's story underscores the need for resilience in real estate's unpredictable landscape.

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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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