The meeting discussed the location of a market, the importance of economic growth, and the need for an outside inspection perspective. Quality mentioned working on a project with a budget of $47,000 and the need to find someone for an 8-hour task. Personal matters such as stock purchases and upgrading a Sonos system were also discussed. Quality offered to provide updates on their line of credit.

Jonathan, the host, expressed gratitude for the attendees. Imron shared his real estate background and offered to assist with title work. Bree discussed the challenges of managing her business and parenting young children, emphasizing the need for flexibility. She shared how her routine allows time for her kids. Jonathan asked attendees about their plans for children, highlighting the difficulties of parenting. Jalen mentioned needing to complete his real estate exam, and Jonathan offered a book to help him finish.

Quality quit her corporate job and pursued a career in real estate investing after being inspired by the website BiggerPockets. She and her husband bought three properties initially, planning to work their jobs while acquiring more for early retirement. Quality later established her own brokerage company but faced challenges like inspections and property management. She discussed the chaotic learning experience of dealing with issues like bed bugs and a garage fire. Quality acknowledged being inexperienced and overconfident early on, suggesting she should have slowed down to avoid costly mistakes when scaling her business.

Quality discussed the challenges of managing a property management team and the importance of outsourcing tasks that one is not skilled in. He shared his experience of hiring someone who was good with tenants but not with accounting, leading to inefficiencies. Quality also emphasized the need for specialization in business, citing his own struggles with marketing as an example. He concluded by suggesting that finding the right partner is crucial for success. Quality also discussed the importance of building individual relationships with business partners, rather than mass indications, and shared her strategy of 'courting' potential partners. She highlighted the risks of not vetting relationships properly and the importance of providing examples of properties and running numbers to answer potential investors' questions and concerns.

Quality discussed the origins of his business partnerships, which were initiated by the partners themselves, and shared his involvement in various podcasts and meetups. He emphasized the importance of surrounding oneself with like-minded individuals who share similar goals and aspirations, and highlighted the value of learning from others who have achieved what they want to achieve. Quality also shared his experience of having a strong network of contacts in the Chicago land market, which he leverages for advice, support, and collaboration. He concluded by stressing the importance of building strong relationships and working together to achieve common goals.

Quality discussed the new legal buyer commission structure that took effect on August 17th, as part of a settlement yet to be finalized in court. The new structure requires every showing to have a contract with a broker, and sellers can no longer show properties without an agreement in place. The fee for the seller's agent can now be negotiated based on the terms of the offer, and sellers can choose to pay the buyer's agent commission or not. Quality emphasized the need for everything to be in writing and that sellers are not obligated to pay the buyer's agent commission. He also discussed the challenges of presenting offers to clients, particularly in terms of commission and pricing, and the need to do more math to present the offers clearly.

Quality discussed the impact of rising interest rates on investors, noting that some halted property acquisitions due to unfavorable numbers while others continued buying, anticipating lower future rates for refinancing. Quality also expressed belief that rate increases were intentional to later reduce them and stimulate buying. Furthermore, Quality noted the seasonality of the Chicago market, with most activity occurring between Memorial Day and Labor Day due to leasing patterns. Lastly, Quality shared their observations on the fluctuating nature of their work, particularly in the real estate market, and the importance of taking advantage of opportunities when they arise.

Quality discussed the rapid growth of their business over two years, emphasizing the importance of learning from mistakes and adjusting processes accordingly. They highlighted the value of incentivizing their property manager with a bonus for renewals and the importance of repetition and learning in their business. Quality also shared their strategy of buying properties based on intuition and not just numbers and calculations, and explained how they funded their Milwaukee properties. They also discussed the challenges of maintaining partnerships in the construction and property management sectors, the importance of referrals and personal relationships, and encouraged persistence and learning from mistakes. Lastly, Quality shared their contact details for potential investors and encouraged attendees to invite others to their meetup.