Wealth Building with Real Estate


Wealth Building with Real Estate

This is a group for those who are interested in creating wealth through cash flowing real estate and equity building

Website: http://www.gallydevelopment.com
Location: Chicago
Members: 168
Latest Activity: May 3

Discussion Forum

Is the timing right to invest?

Started by Michael Galvan. Last reply by Michael Galvan May 3. 2 Replies

I met with an investor friend of mine and we were discussing the economic climate in our city (Chicago) as it pertains to real estate.  My friend has been investing over 30 years in real estate and has accumulated a significant amount of cash…Continue

Tags: estate, real, investing, mentor

Real Estate is a Powerful Investment

Started by Michael Galvan Mar 22. 0 Replies

Recently I had a discussion with one of my real estate partners.  We were discussing the potential returns on investment that real estate can provide.  He lamented that one of his real estate investments was not doing well.  After a short discussion…Continue

Tags: recession, estate., real, investments

How to Create Money Out of Thin Air!

Started by Michael Galvan. Last reply by Joyce Ngugi Mar 16. 6 Replies

Did the title get your attention?  Just so you know right up front, it is possible and even more importantly it is legal.  Let me explain:The US banking system is based on what is referred to as fractional reserve banking.  Under fractional reserve…Continue

Tags: create, cash, loan, Estate, real

Financial Freedom is closer than you think.

Started by Michael Galvan Mar 14. 0 Replies

Did you know that most of us make money while we sleep?  I speak of passive cash flow and most of us have some type of passive investment that generates income.  There is no better time to grow your passive cash flow stream than right now,…Continue

Tags: flow, goals, cash, estate, freedom

Still a good investment-Real Estate

Started by Michael Galvan Feb 25. 0 Replies

Check out this latest short video from the experts at Marcus and Millichap:VideoContinue

Tags: millichap, investments, and, marcus, estate

Rents head higher in 2015.

Started by Michael Galvan. Last reply by Michael Galvan Feb 25. 2 Replies

As the stock market continues it tumultuous ride the commercial real estate investments remain strong.  My favorite is multi family property and my current pipeline has deals that could fetch 15%  cash on cash and upwards of 25% IRR over the…Continue

Tags: estate, millenials, real, rental, properties

Real Estate is a "team sport"

Started by Michael Galvan. Last reply by Michael Galvan Jan 24. 2 Replies

I have said many times that real estate is not a do it yourself business.  It does require a team.  You determine who the members of your team are but make sure you have the necessary team members in place as you pursue your real estate investing…Continue

Tags: BITriangle, team, real, estate, business

Investing in Real Estate with little or no money

Started by Michael Galvan. Last reply by Andrea Reynolds Jan 23. 5 Replies

I know that the title to this post sounds like an infomercial but it has some real and practical applications.  I have been told that the "no money down" era is over but I can assure you that "no money" deals are still taking place.  I have done…Continue

Tags: deal, property, estate, real

Comment Wall


You need to be a member of Wealth Building with Real Estate to add comments!

Comment by elaine bright on April 29, 2016 at 10:07pm

Patrick I will share my story on your wall.  I made networth of millionaire at 55 thru being a saver all my life and a real estate investor.

Comment by Patrick Michael Green on April 29, 2016 at 8:16pm

Awesome Michael.  I do not have a format or list of questions.  If I have any questions I will contact you later.  I will send you any edits prior to publishing and will only move forward if you agree.  I will also send you an e-book version for free.  Thanks for your willingness to inspire!

Group Leader
Comment by Michael Galvan on April 29, 2016 at 8:10pm

Patrick, I will share a story on your page.

Comment by Patrick Michael Green on April 29, 2016 at 7:35pm

I am new to the group and I am hoping some of you will help me with a book I am writing.  It is about the journey from normal to Financial Freedom using a metaphorical approach.  The working title is Millionaire by 55.  It leverages learning from Dan Miller, Dave Ramsey and others that impacted me and allowed me to become a millionaire by 55 just by following biblical principles.

The help I need is stories from real people who have done it!  I would like to sprinkle them through the book similar to vignettes in the Total Money Makeover.  Would some of you be willing to share your Millionaire stories to give hope to others?

Group Leader
Comment by Michael Galvan on August 29, 2015 at 3:56pm

Tyler Peterson this group is about creating wealth for the long term and the main focus here is real estate.  As a real estate broker myself I can tell you that there are many tips, within the group discussions, that would help you understand the business concepts required to be successful as a real estate broker.  If you would like some one on one help you can reach me at mike@gallydevelopment.com and I would be glad to help you where I can.  I have been in the real estate business for 17 years and have been involved in more than 75 million dollars in transactions on both the commercial and residential sides of the business.  Let me know how I can serve you.   

Comment by Tyler Peterson on August 28, 2015 at 7:01am

Hi all-

Is this group more about real estate as an investment?  Or, is it good for prospective realtors for tips, etc?  I want to get my license so I thought I would check.



Comment by Dan Lacine on September 9, 2013 at 12:20pm

How to market & get good residents?

Seven years ago we decided to try the "buy-renovate & resell" idea (flipping?). By the time we fixed places, the economy turned & we ended up renting instead.

I own 2 properties in town - a house and a duplex (2-2 bedroom units) for rent.  I have 2 vacancies now (out of 3) and it seems that it takes months to get a good tenant (let alone an applicant).  I get a lot of responses to my Craigslist ads and some from the world-known major hospital's online ads. One house is walking distance to the clinic.
I continue to get a lot of "unqualified" callers, meaning - they cannot afford it or they have pets or smoke. I am NOT on a mission to provide free housing.   My application process includes obtaining a credit report (which I do online), verifying income & bank balances & references. Perhaps I am afraid of getting a bad resident so the process is there to avoid that. I have heard too many stories of renters not paying and the property manager having to get a court eviction and then spend more $$ fixing up damages.
I follow the legal requirements of the Fair Credit reporting act and non-discrimination, etc.  I screen my callers before I show the place, but screening callers is a process I don't enjoy.  Eventually I'd like to sell both places, but at this time, it would be nice to have them fully rented so I can get in the black.
I still spend too much time showing my places and good prospects not applying. Perhaps I should encourage them to fill the application at the time they view the property?
Your ideas are welcome.

Comment by Jonathan Casillas on March 2, 2013 at 5:06pm

 I am a Commercial Real Estate Loan Originator. I am able to close loans in all 50 states. If I can be of assistance please feel free to contact me.

Comment by Jini Charley on February 19, 2013 at 6:23pm

Thanks for the info Thomas. Will take some time this week and look it over and get in touch with you about it.

Comment by Thomas H. Riche on February 19, 2013 at 4:15pm

Jini, I havet't posted on this board in several months and decided to catch up on posts today.  After reading your post regarding RE Development & PM, it reminded me of myself several month ago.  I came to to the realization that I did not know the first thing about real estate, but after retiring from my Job and going to a local real estate meeting with a friend, I thought I might get educated.  That meeting was just enough to whet my appetite.  I wanted to learn as much as possible because my mother, who is now 85 and in a nursing home, has property which is being rented, and neither my sister nor brother have any interest in managing this property and none of us have been educated in this field.  To make a long story short, I found a real estate education company that teaches everything I needed to know, and much much more about the entire field of real estate.  I purchased this education and joined the company.   If you or anyone on this board is interested in this basic to graduate level education, just leave me a post or go to www.getrichewiththomas.com



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