Owning class D properties in neighborhoods plagued by gang violence, prostitution and drug abuse is not easy.
But it does give an owner-operator the street smarts to keep themselves, their employees and properties safe. And it makes for some pretty crazy stories!
On this episode of Financial Freedom with Real Estate Investing, Garrett follows up on his previous solo episode with more stories from his experience as an investor in Chicago’s most dangerous neighborhoods.
Garrett discusses what he did to prevent theft at vacant multifamily properties and describes how firing a maintenance worker nearly caused a gang war at one of his buildings.
Listen in for the story of how Garrett’s maintenance team caught a killer and find out what it’s like to collect rent at night not too far from Chicago’s infamous O Block.
Key Takeaways
How Garrett kept himself safe in South Side Chicago
- Dress and act the part, drive Chevy Impala
- Carry hand axe for protection
What Garrett did to protect vacant properties from theft
- Contractor brought dog to trap thieves
- Pepper blasters and SimpliSafe alarms
What criminals steal from vacant multifamily properties
- Copper to sell at metal plant
- Countertops and cabinets
How Garrett prevented a gang war on his property
- Maintenance man got fired, stole lawn mower
- Garrett asked former employee to return item
- Rival gang came to scare property manager
- Garrett paid resident in gang to protect area
- Told former employee to forget whole thing
How Garrett’s maintenance team caught a killer
- Crew sent to fix water leak in Section 8 building
- Found shotgun used in murder in wall
- Tenant charged with murder of rival gang member
Garrett’s experience collecting rent on the West Side
- Had to go at night, brought 3 guys for protection
- Unsafe to carry cash, likely to be robbed if alone
Connect with Garrett Lynch
Connect with Michael Blank
Apartment Investor Network Facebook Group
Email [email protected]
Related Articles
What Are the Three Classes of Real Estate Investment?
Why You Should Not Invest in Class A Real Estate Syndication
Resources
Join the Nighthawk Equity Investor Club
Learn More About Michael’s Mentoring Program
Download Free Resources from The Freedom Vault
Financial Freedom with Real Estate Investing by Michael Blank
Garrett on Financial Freedom with Real Estate EP318
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