Description

In today’s episode, we welcome, Mordy Chaimovitz (pronounced Chai-mow-its), he lives in Chicago, and now works for Weiss Properties, Inc. He was a 3rd-grade teacher for 11 years before he jumped headfirst into real estate, and he is excited to share his experiences with others.

In this episode, Mordy covers a variety of topics from networking, to asking for discounts when shopping, to real estate investing. He talks about the importance of having a good property manager, as it can help increase income and take away headaches associated with managing rentals. He emphasizes the importance of finding a good mentor and highlights the need to vet potential mentors in order to ensure that they are the right fit. To learn more about Mordy and his work, listeners can visit LinkedIn!

[00:01 - 01:30] Closing Your First Deal 

• Mordy is introduced to the show!

• He used to be a teacher and transitioned into the real estate space

[01:31 - 11:55] Vetting And Choosing The Best Property Manager

• He has experienced growth over the past year due to his teaching background
• Don’t be shy to ask people questions and learn about different spaces
• He taught concepts such as depreciation, cap rate, etc.
• He recommends a book to read to understand the basics of real estate investing
• Finding a deal through proctoring at a local high school
• Miscommunication between seller and buyer on what “done” meant
• How he decided to get a property manager to avoid being a landlord

[11:56 - 17:19] Closing Segment

• Mordy advises listeners that finding good employees are hard to find and vetting potential employees are important

• To learn more about Mordy and his work, listeners can visit LinkedIn!

Tweetable Quotes:

“Don't be afraid of yourself. Just ask somebody.”  – Mordy Chaimovitz

“Get a property manager, a good one. They're hard to find. You got to vet them, but get one.” – Mordy Chaimovitz

You can connect with Mordy Chaimovitz through his:

LinkedIn: Mordy Chaimovitz

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Connect with Lorren Capital, LLC. for syndicated multifamily investments, https://lorrencapital.com/.

To learn more about me, visit my LinkedIn profile, and connect with me.