While his peers were cutting class to kick back and enjoy the perks of college life, Chris Salazar was cutting class to learn more about real estate. At just 23 years old, Chris has already amassed an 85-unit portfolio in the Quad Cities. He is the co-founder and partner at Arsenal Properties investing in single and multifamily properties. With his commitment to learning and passion for real estate, he is helping other ambitious Millenials expedite their growth in real estate.
Key Market Insights
- Cut class to spend more time learning about RE
- Started investment club in college
- Did first wholesale deal at 20
- Quad Cities: Rock Island, IL, Davenport, IA, Moline and East Moline
- 400k population in Quad Cities
- Finished under grad in 2016 with Accounting and Financing major
- Interned at accounting firm, but spent it talking about real estate
- Worked for a flipper in the Quad Cities, doing acquisitions
- Found an equity partner through a friend
- Hustle and track record convinced his friend’s parent to invest with him
- Quad Cities is a cash flow market, appreciation is not there, but still seeing strong returns
- Major employers: John Deere, Rock Island Arsenal, Genesis Health System
- Illinois side has higher taxes, so many investors prefer the Iowa side
- Chris prefers the college areas of Augustana and St. Ambrose
- Creating a luxury apartment complex on campus to meet demand
- Launching “Millennials and Mentors” podcast to podcast to help other millennials get into real estate
- Looked in NW Chicago neighborhoods like Avondale, but found stronger cash flow returns in Quad Cities
Bull’s Eye Tips:
Winning Your Market: Build key relationships
Tracking Market Changes: Check sales each week
Daily Habit: Wake up early and write affirmations and goals (Chris creates a power list of the top 5 things to get done each day)
Resources:
Best Business Books:
Tools of Titans by Tim Ferris
Digital Resources
Excel
Zillow
County Assessor Website
Tweet This:
“I cut class to learn more about real estate”
“Quad Cities is a cash flow market”
Places to Grab a Bite:
Connect with Chris:
Website: Chrisjsalazar.com
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