Daniel Baker, owner of Teton Properties, explains how he’s built a portfolio with strategic house hacks and value-add renovations.
Daniel discusses his move from Memphis to Chicago to get started in real estate. He shares some hilarious stories on househack value-add projects and getting extremely gritty to get projects to the finish line. He then breaks down a deal that closed right at the onset of COVID in 2020. Throughout this episode, Daniel gives numerous examples of how getting scrappy and persevering can be a competitive advantage that pays huge dividends.
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02:08 Housing Provider Tip - Consider making professional carpet cleaning a move-out requirement for tenants!
04:23 Intro to our guest, Daniel Baker!
07:35 Getting started in real estate with Marcus & Millichap.
18:46 Purchasing a Lincoln Square 4-Flat after a few house hacks!
26:48 Daniel’s top lessons learned after his first few projects!
29:41 Jumping into a deal with COVID looming.
39:33 Closing a deal while getting laid off!
44:40 What’s next for Daniel?
47:48 Daniel’s outlook on Chicago!
50:43 What is your competitive advantage?
51:11 One piece of advice for new investors.
51:30 What do you do for fun?
51:51 Good book, podcast, or self development activity that you would recommend?
52:22 Local Network Recommendation?
49:10 How can the listeners learn more about you and provide value to you?
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Connect with Mark and Tom: StraightUpChicagoInvestor.com
Email the Show: StraightUpChicagoInvestor@gmail.com
Guest Name: Daniel Baker
Guest Company: Teton Properties
Guest Link: https://www.linkedin.com/in/daniel-baker-8b33777
Other Links for show notes:
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Snowball (Book Recommendation)
Jen Fritzshall (Attorney Referral)
