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Straight Up Chicago Investor Podcast Episode 195: Building $300k in Networth Through House Hacking (and Listening to the Straight Up Chicago Investor Podcast 😁) W/Victoria Barkate

Mark Ainley - Friday, March 31, 2023

Victoria Barkate joins us to discuss how she has quickly scaled her rental property portfolio as a W2 employee!

Victoria starts by explaining her decision to move to Chicago specifically to invest in real estate. She talks about how she decided which neighborhoods to invest in and how she has utilized partnerships to scale She dives into the ins-and-outs of her first couple house hacks including things that went well and challenges she faced. Victoria shares how she has learned to find off-market properties and how investors can take the low-inventory issue into their own hands. Throughout the show, Victoria emphasizes the importance of partnerships and building your network and demonstrates that putting in the work to learn investing can really pay off quickly!

Questions We Answer In this Show:

Q. Why is rehabbing occupied buildings tough?

Q. Horror Story With Previously Evicted Fraud Tenant in Chicago

Q. Find a Realtor With Multiple Investments


Show Notes:

  • 02:50 Housing Provider Tip: Be empathetic when interacting with tenants!
  • 05:07 Intro to our guest, Victoria Barkate!
  • 05:54 What attracted Victoria to Chicago’s real estate market?
  • 08:36 How did Victoria determine areas/neighborhoods to focus on?
  • 10:32 Victoria talks about her first househack!
  • 15:30 Victoria discusses her second acquisition!
  • 19:05 How did Victoria learn to find off-market properties?
  • 28:26 Victoria shares her tenant horror story!
  • 36:36 What is next for Victoria?
  • 38:54 How has Victoria been able to learn and scale so quickly?
  • 40:37 What is Victoria's competitive advantage? 
  • 41:01 One piece of advice for new investors.
  • 41:21 What do you do for fun?
  • 41:51 Good book, podcast, or self development activity that you would recommend? 
  • 43:10 Local Network Recommendation?
  • 53:27 How can the listeners learn more about you and provide value to you?
  • Guest Name: Victoria Barkate
  • Guest Company: Accenture
  • Guest Link: https://www.linkedin.com/in/victoria-barkate-1879b372
  • Other Links for show notes:
  • Mark's BP Blog on Tenant Scammers
  • SUCI Ep 51 - John Westbrook
  • SUCI Ep 138 - Mike Scanlon
  • Managing by the Numbers (Book Recommendation)
  • SUCI House Hacking Calculator
  • Brandon Smrz (Plumber Referral): 630-290-9238
  • Victoria’s Twitter: @miss5to9 
  • Victoria’s Email: vikkibarkate@yahoo.com

Chicago Investor Resources Shared

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Author

post.authorName
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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