Zach Posey joins us to explain how he’s acquired various house hacks and grown a significant net worth all while having a demanding W2 career!
Zach starts off by detailing the acquisition of his first house hack and the hurdles that came almost immediately after closing. He talks about purchasing an oversized 4-unit building, seeing value-add potential, and executing a renovation strategy to create equity! Zach gives property management insights for house hackers which are centered around doing right by tenants and people in general. He explains the ins and outs of acquiring a property by assuming a VA loan. Throughout the episode, Zach demonstrates that growing a portfolio as a busy professional is doable and that the financial reward far outweighs the work that is required!
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01:58 Housing Provider Tip - Understand easy fixes for malfunctioning garbage disposals!
03:57 Intro to our guest, Zach Posey!
07:38 Starting off with a 4-unit house hack.
17:25 Acquiring a second house hack in Roscoe Village.
26:28 Property Management tips for house hackers!
28:44 Leveraging assumable loans to make the numbers pencil.
34:41 The value of networking events.
37:40 Zach’s REI goals and outlook on Chicago!
42:42 What is your competitive advantage?
43:13 One piece of advice for new investors.
43:35 What do you do for fun?
43:50 Good book, podcast, or self development activity that you would recommend?
44:40 Local Network Recommendation?
45:39 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: Zach Posey
Guest Company: Chicago Multifamily Club
Guest Link: https://www.linkedin.com/in/zach-posey-63a94522
Other Links for show notes:
Chicago Multifamily Club Meetup
