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In a compelling episode of the Straight Up Chicago Investor Podcast, listeners are granted an exclusive look into the thriving world of Manny Escarpita, a young and enterprising Chicago Real Estate Investor with a remarkable portfolio and a story that embodies ambition and triumph. Manny, also a Licensed General Contractor, shares his transformative journey from a novice in 2019 to a full-time real estate entrepreneur, unveiling key lessons, house hacks, and the dynamics of a game-changing BRRRR project.
Manny opens the conversation by shedding light on the hungry mindset he nurtured at the beginning of his real estate journey. Listeners are taken on a journey through Manny's early experiences, learning from the challenges and triumphs of his first deal. The hungry mindset becomes a recurring theme, setting the tone for an episode filled with insights and actionable wisdom.
The episode unfolds as Manny shares the strategic decisions behind his initial house hacks. These early experiences laid the groundwork for Manny's success, providing not only shelter but a stepping stone to financial growth. As Manny discusses the nuances of these house hacks, listeners gain practical insights into how strategic decisions can shape the trajectory of a real estate portfolio.
A pivotal moment in Manny's journey comes to light as he breaks down a successful BRRRR project. The discussion delves into the intricacies of the Buy, Rehab, Rent, Refinance, and Repeat strategy that not only elevated Manny's portfolio but served as the catalyst for him to make the bold move of quitting his job to pursue real estate investing full-time.
Listeners are treated to an in-depth exploration of Manny's flipping business essentials. From the intricacies of hard money lending to the art of estimating rehabs and generating deal flow, Manny provides a roadmap for both aspiring and seasoned investors looking to fine-tune their strategies.
Throughout the episode, Manny underscores the significance of taking action despite fear. His journey is a testament to the transformative power of seizing opportunities and confronting challenges head-on. Manny's ability to navigate the uncertainties of real estate investing is a driving force behind his success.
Key Takeaways for Every Investor:
Gain insights into Manny Escarpita's journey from a novice to a full-time real estate entrepreneur.
Learn about the hungry mindset and lessons learned on Manny's first real estate deal.
Explore Manny's strategic house hacks and the transformative impact of a successful BRRRR project.
Deep dive into the essentials of Manny's flipping business, from hard money lending to deal flow generation.
Embrace the key takeaway of taking action despite fear as a pivotal element in the journey to success.
The Straight Up Chicago Investor Podcast once again delivers an episode filled with inspiration and practical wisdom. Manny Escarpita's journey serves as a beacon for those navigating the Chicago real estate landscape. Whether you're at the beginning of your journey or looking to refine your strategies, Manny's story offers valuable insights that can guide you toward success. Tune in, be inspired, and embark on your own path to success in the dynamic world of Chicago real estate.
Watch Straight Up Chicago Investor Podcast Episode 242 in Full Here
Questions We Answer In this Show:
Q. DSCR Loan Unleashed in Real Estate Investing!
A. Video
Q. 15-Year Mortgage: Unlocking the Secrets of Financial Freedom! Pros and Cons Revealed!
A. Video
Q. How He Left His 9 to 5 Job to Become a Real Estate Investor
A. Video
Show Notes:
02:52 Housing Provider Tip: Understand insurance policy coverage as it relates to water damage in basement units!
04:30 Intro to our guest, Manny Escarpita!
05:51 Hungry mindset of a new investor.
13:12 Manny’s journey after his first deal!
17:42 Dealing with hard money loans.
24:26 Manny’s next deal in West Logan!
28:30 Manny’s transition to General Contracting and Flipping!
30:33 Advice for new flippers.
34:25 Manny’s long-term goals.
39:11 Estimating rehabs.
41:06 What is Manny’s competitive advantage?
41:40 One piece of advice for new investors.
42:28 What do you do for fun?
42:55 Good book, podcast, or self-development activity that you would recommend?
43:12 Local Network Recommendation?
43:46 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: Manny Escarpita
Guest Link: https://www.instagram.com/mannybrrrrs/
Other Links for show notes:
SUCI Ep 229 - Hernandez Roofing
George LaGuardia - A and N Mortgage
Raising Private Capital (Book Recommendation)
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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