Skip to main content

Episode 412: Luke Helliker Leverages the ADU Process & Learns Many Lessons

By Mark Ainley

Luke Helliker is a buy and hold real estate investor that has leveraged networking, house hacking, and value-add strategies to build a successful portfolio.

Luke kicks things off by sharing how he acquired his first house hack and provides insights on the ADU process that he used to add a third legal unit. He lays out top considerations when converting a basement into a dwelling unit including the top dollar items. Luke talks about getting a 4-unit acquisition to the finish line, despite it involving violations and a difficult seller. Throughout this episode, Luke demonstrates how holding real estate for the long term has built him great wealth and how staying active in the market is the key to success!

If you enjoy today’s episode, please leave us a review and share with someone who may also find value in this content!

03:15 Housing Provider Tip - Ensure to perform periodic checks on properties to identify issues that tenants may not bring up!

05:03 Intro to our guest, Luke Helliker!

13:19 Luke’s first deal: a 2-unit house hack!

20:18 How to leverage the ADU process.

27:20 Funding an ADU project.

41:09 Navigating investing with your significant other.

43:15 Acquiring a 4-unit building in a competitive market!

58:47 Lessons learned on the 4-unit acquisition.

65:30 Luke’s next investment targets.

66:19 What is your competitive advantage?

67:15 One piece of advice for new investors.

67:59 What do you do for fun?

69:19 Good book, podcast, or self development activity that you would recommend? 

70:01 Local Network Recommendation? 

70:30 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: Luke Helliker

Guest Company: 

Guest Link: https://www.instagram.com/livelaughluke.gif/ 

Other Links for show notes:

Luke Helliker - DocuSign | LinkedIn

EUBA

SUCI Ep 345 - Joey Turano

SUCI Ep 354 - Jake Fugman & Mike Scanlon

SUCI Ep 389 - Sebastian Mysliwiec

Rich Dad Poor Dad (Book Recommendation)


Share

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.
back