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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.

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

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Connect with Mark and Tom: StraightUpChicagoInvestor.com

Email the Show: StraightUpChicagoInvestor@gmail.com

Guest: Daniel Baker, Teton Properties

Link: How to Win Friends and Influence People (Book Recommendation)

Link: Snowball (Book Recommendation)

Link: Jen Fritzshall (Attorney Referral)

Link: SUCI Ep 22 - Matt Fritzshall

Guest Questions

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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Production House: Flint Stone Media

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