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Ep 379: Virtual Real Estate Flipping and Renting in Chicago- Marcus Maloney's Journey
June 27, 2023
Ep 379: Virtual Real Estate Flipping and Renting in Chicago- Marcus Maloney's Journey
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Transcript

0:00 We have a returning guest, Mr. Marcus Maloney, if you have not seen the episode, please go check it out. It might be a few episodes before this one, but plus, please go check it out. We covered a lot of coaching stuff, flipping virtually, and managing a team and being applying your education. Yeah, go check it out. Check it out. today. We have Marcus Maloney back again. What is your cool, interesting story that you have for us today? 0:26 Man, Daniel, so let me tell you this. Everybody know, Chicago, right. Chicago was always getting a lot of bad press about the violence and everything like that. Correct. And it's safe to say, you know, we always see it on the world news. Well, during Yeah, yeah. All right. So coming out of the pandemic, my wife, she wasn't working. And I made a challenge to her and I made a challenge to my listeners and my followers. I said, Hey, during this time, I'm gonna make sure my wife close a real estate deal from start to finish. Right, not knowing anything, just start to finish well. We got a lead. And that lead came in and not knowing on our end that it was like a big deal. In Chicago where it was, this house got shot up. The grandmother had her grandsons living with her, and they were gangbangers and some other gangbangers came, shot up the house and killed the grandmother. So unfortunate, right? And we had the daughter call us and she was in Maryland, or Kentucky or something like that. She gave us a call because we were doing outbound outbound calls. And she said, Yeah, you know, my grandmother passed away. It was right before Christmas. It was her mother. So it was all on the news. You know, it's like Christmas Eve. You know, my grandmother passed away. We didn't know the story, because we were here in Arizona, and we wasn't following the Chicago news. And she gave us the address. And we started, you know, doing our due diligence looking at the property. And we started seeing all of this stuff in the feed. You know about the the incident, what happened and everything like that, right. So I happened and we happen to be in Chicago, because this was our year to be there with the family for Christmas. So we went to go and take a look at the look at the property. The brothers or the grandsons. Were all were still there at the property. These were the gangbangers right? So we didn't know, hey, they are at the property are these other rival gangbangers going to come and shoot up the property? Again, while we're in here, you know, we all these crazy things are going through our mind. Right. So walking into the property, we go into the Master master bedroom, and I literally step in the blood, you know, of the old lady that was there. You know, it was unfairly painted up? Yeah, yeah. Yeah, they haven't. They haven't. It was it was dry. But you know, all of the police tape and everything was it was there, but she could still access the property. And lo and behold, we still ended up buying that property. We cleaned it up and our position was to the daughter was like, we understand, you know, that your mom passed away in his property, what we're gonna do is we're gonna make this the best house on the block that way, whenever you drive by it, or you think of mom, you will, you will know that this property was in good hands. So, lo and behold, yeah, we had to deal with gangbangers, we have to deal with bullet holes, removing bullet holes out of your property. Our contractors, were there, some people pulled up on them thinking that, you know that they still own the property. And it was it was just a mess. But lo and behold, we were able to renovate that property due to rehab, we bought the property for $90,000, we put 60. We put like 70k into it. And we sold it for 270. And I had only been in that property like two or three times during that transition. And then why we were doing a rehab, the neighbors, one neighbor had just moved there. They didn't know anything about the shooting. But then the other neighbors were coming over, you know, to my, my partner that lives in Chicago and our contracts was like, well, we're so glad that somebody bought this property because, you know, there was always incidents, not knowing that this property had been shot up like three different times. And this was the third time so yeah, man, that's just that's just one of the crazy stories, you know, that we had to go through and doing a renovation and rehab there in the great Midwest. 4:54 So, this I think this this this story equates to I'm just I've never don't think I've ever told the story publicly. So this this would be a good one for everybody here listening for my Chicago stories from when I was a kid. I think a lot of people don't really understand the gang situation in Chicago in that area because we even had it where I grew up in Indiana? So I don't have anybody here's the story or not, but I had my gang violence affects a lot of the Chicagoland area, including Indiana, which if you'd be familiar with the area, and it does extend into Indiana, and I used to live right across the border into Indiana. So I remember as a kid, I was a teenager and there was a double lot behind me where there was no houses because he got torn down for whatever reason. I remember one day as a teenager, that was a huge fight. And mind you this was probably like, an acre of land because it was double lot full of people fighting. It was like fist fighting the whole group people and I know it was probably like maybe like 1015 people fist fighting, but everybody else was like your ground. It was just watching. And I remember it was one of the craziest things. I remember as a kid. It was like, I have other crazy stories. But I remember like, I still went back there saw it. You know, my brother like looking over the fence. And I remember walking back in the house I was playing, I was playing basketball in the backyard. And I went to the house and called the police. And I was like one of my first interactions of calling the police as a young person. But this kind of like said I have a lot of more crazier stories. Maybe I'll cover it another time. But for everybody here. Thanks for coming on. Thank you, Mark for coming on and telling your interesting story about just changing up the neighborhood. I think a lot of people it needs to happen and like I said, I have a lot of families that were in the game so I understand that completely from living in the Chicagoland area. So I think it's definitely Good. It's a good, it's a good thing that people are actually rebuilding the community and offering better housing for people in the Chicagoland area. So thank you for providing that. And for everybody here. Thanks for tuning in. Hope you enjoyed this episode. For everyone here listening, please go check out bologna. And we'll make it happen. And he's back. All right. I wasn't sure. I wasn't sure if you're coming back or not. 10:30 Always, always technical difficulties, right. 10:33 My wife, I'm plugging the internet and accident. Oh. 10:38 I was like, Wow, where did Daniel go? And then I just kind of stayed on for a few minutes. I was like, Okay, well, he, he should pop back in. But all right, we're good to go. So you were telling your, your, your story of Illinois or Hamlin. 10:54 Yeah, him. And so I haven't told the story very often. But I remember as a kid behind us those double lot because they there was houses at one point in the term down and I never remember any houses there. So it's a double acre, two acres, two acre lot. And I remember I was playing bass, my brother and I heard all this commotion behind us. So literally, right behind the alley, this double lab full of people is fighting. This fighting, I'm like, Oh, my guess is crazy. And like, I don't know how many people are fine. It looks like everyone is fighting. You know, like, there's like 2030 people fighting each other. And then everyone's just kind of watches. Only one of those. And I remember told my brother that we didn't call the police because the police station was like literally a half mile down the road. Like, this is like police stations right there. And we're right here. Like, I don't know why this was like that. But me and brother call the police. As soon as the sirens hit up, everybody like, scattered, scattered and cleared the whole fight up probably like it felt like under 60 seconds as soon as the siren started hitting because the position was right around the corner. And it was that was one of them like that. It feels a memory I had grown up at least I have crazier ones were like shootings and stuff like that. My dad actually put cameras on the front house, and my parents, my dad passed away last year, but sorry, a year and a half ago, but my mom still lives there. So he used to put up cameras. And he had somebody like walking down the street with like a m 16. or some type of assault rifle down the street in the middle of like three in the morning. So like there's still a lot of craziness to have. Yeah, yeah. And, 12:32 and you know what, Daniel, it's a lot of people say, you know, that it's it just started and everything like that. But it's been it's been kind of crazy out there for years. years. Yeah, it's, it's been a little bit more televised and everything like that. But you have a lot of great neighborhoods, and a lot of great places, you know, in the Chicago Metro. So for you all that, that don't know, Chicago does have a lot of great places to be and you just have to know where to go when when to go there. 13:06 100%. And this is where like, and like I said, my family was not rich at all. So we kind of have to live in some of the other other underlying areas. But one of those things where you really have to like protect your your family and upbringing. Like I'm I talked to my mom, I was just in Chicago, like two weeks ago, my mom told me that she ended up meeting with a gang banger and she knew who we were, and like, Oh, you're the you're the house that has four boys, right? Like they're watching us. And no, we didn't participate in any of the in the gang violence. But they. 13:39 So let's good. I mean, that's, that's a that's a great representation of, you know, your mom and dad, how they, how they reared you guys, you know, how not to be influenced by, you know, outside negative stimuli and negative negative people. So, I mean, that's that's a that's a, you know, reward to Mom and Dad, how they how they brought you guys up. 14:01 So like I said, it's not it's not I think I think your use the situation's you grew up into always make it better, but I left I left Chicago because I hated the cold. 14:11 Yeah, same same with me. You know, it wasn't anything else. It was just like, You know what, I hate that you only get summer for two months out of the year. 14:22 But I've always joked that the sun doesn't shine in the Midwest. 14:26 It you know, right now is a good time, June, July, August, after August, right after, you know, Labor Day. Forget about it. You know, so yeah, why why stay there for 90 days of great weather and then other you know, 265 250 days is cold, rainy, foggy, wet, damp. So, 14:55 I used to work outside to when I was when I first started working at 19 And I'm like, Man, this is I'm out. 15:04 Yeah, yeah, it's crazy. But yeah, it never rains in Southern California, right? 15:09 It does rain. Yeah, no, it does rain rain after like once like, this year is a weird year but after like usually like April or May doesn't rain the rest of the year till December again. 15:24 You know, we don't get much rain right here and we, you know maybe one week it may rain and that's that's about it. We're coming into monsoon season. So we'll get some rain here a couple of days and then that'll be it for the year. 15:41 I think it's definitely definitely unique episode for this one. I appreciate you coming on and sharing your your Skyline story. And the one thing I said too, is I really appreciate you sharing and fixing up the neighborhood in Chicago because I think little little steps like that of remodeling one little home it changes the dynamic of the area little by little and it's people like you that make a difference. Especially 16:03 Yeah. Yeah. And it has to start with that community effort, right just just that boots on the ground grassroots efforts in order to make a difference and then you just hope that it spreads you know, to the throughout the neighborhood. So man, Daniel, I really appreciate you having me on. 16:19 Yeah, everybody here technical difficulties in the middle, but we finished it out and we're here to end it all out. Thanks for coming. Thanks for coming, Marcus. And thanks for sharing your time again for this episode. Please go check out the other episode. It's a great episode. Everybody here you know what to do. Like, subscribe, share with a friend and we'll see on the next episode. Thanks, guys. See ya

Daniel Esteban MartinezProfile Photo

Daniel Esteban Martinez

Host/ Ceo/ Speaker

I have been an entrepreneur since 2018. I come from a regular home just like most people. My dad worked on the roads in the Chicago area for over 30 years. He always taught me to work with my brain, instead of my body. Your body can only take so much abuse. I learned so much from my father. He always pushed me to work smarter and not harder.

I have owned and operated a trucking business for 2 years. I started learning real estate in 2019. Fell into the Data & Skiptracing business in 2020. My partner Anthony & I started Hivemind in 2021.

I have done a ton of different jobs coming up from painting, to door-to-door sales, telemarketing, truck driving, and loading trailers. What I learned most is that I want to stay in the digital business space. The leverage you can have delivering digital products to the marketplace can yield limitless possibilites.

I started The List Guys in 2020. It is a data and skiptracing service. We provide seller and buyers list nationwide. My clients have been getting great results and I am proud to help people killing it.

I started the Hive in 2021 with my partner Anthony Gaona. It is a real estate and business mastermind. It also comes with a all in one CRM, that can host unlimited websites and users.

Starting the Hivemind has been an amazing journey so far. Seeing one of our users make his 6 figure month in June 2021 leveraging our software, I know there will be plenty more to come!

Marcus MaloneyProfile Photo

Marcus Maloney

Investor, Coach

Marcus Maloney is a value investor and portfolio holder of residential and commercial units. Marcus has been named the Equity King for his impressive ability to find real estate opportunities with massive amounts
of equity. Marcus, a high school dropout went from GED to complete his MBA in 2011 from Olivet Nazarene University. Although his education has a major impact on his investment philosophy, the real impact came from his upbringing.
As a young boy growing up on a 59-acre farm 45 minutes south of Chicago, he would look up at the stars and imagine his future. With the sound of frogs echoing through the night and the glimmer of the bright moon
shining down, it was refreshing for him to have a moment alone. During those times alone, he would dream of owning a high-rise in downtown Chicago. Although Chicago is dubbed the second city is always first in his heart. Owning a patch of the beautiful landscape was the beginning of Marcus’ real estate dream.