January 2025
MESSAGE FROM THE BOARD
Hello CAREIA Family!
I hope you had a great 2024 and I hope you have an excellent 2025! 
I know a lot of people make new year's resolutions, but I do something a bit different. I grade myself on last year's performance and I create goals for the new year. I invite you to do this for yourself.
I have done this every year since 2019, when I first read Rich Dad, Poor Dad and Increase Your Financial IQ. Robert Kiyosaki spoke about multiple natural intelligences and the 5 financial intelligences. He also said that banks don't care about your degree or your grades in school, they only want to know your ability and reliability to pay them. I took these ideas and put them together to evaluate my performance in key areas of my life.
To review, the 7 natural intelligences are: verbal, math and logic, spatial, kinesthetic, musical, interpersonal, and intrapersonal.
The 5 financial intelligences are: make more money, protect your money, budget your money, leverage your money, and improve your financial intelligence.
I chose to grade myself on: computer and automation, clarity of goals, communication, completion, and all 5 money intelligences.
As I look back on my 2024, I see more successes than failures, but I definitely see both.
Here are my grades for 2024.
Computer and automation: B. When I started grading myself, I knew I needed to automate most of my bill payments and get away from paper systems, so this was at the top of my list. I did well at it the first few years, but recently I found myself looking at more distressed properties, and spending more time researching titles and foreclosures and owners, so I need to find a way to automate much of that work. This year I will look for more ways to use AI in my operations, from crafting messages to filtering search results quickly.
Clarity of goals: B. This is big. Zig Ziglar said, "You don't find yourself on top of Mt. Everest by wandering around". For 2024 I said I wanted to buy and sell my first flip, and I did. This year I want my second, third and fourth, and I will get them. On the other hand, my interpersonal and intrapersonal goals were not clear enough and crafted well enough to get the results I need.
Communication: C. This is about interpersonal intelligence. The C is an improvement for me. I actually spoke in front of a group of people for the first time in 2024, but I still need to greatly improve my outreach to others. I know how to do this, but I need to put it into practice. My new goals this year will be to get on Facebook and to call at least 5 people every day.
Completion: B. This is about intrapersonal intelligence or emotional intelligence and motivation. I've gotten better at motivating myself to follow thru on the tasks I set, and I am more aware of my emotions and when others are playing on them, but there is room to improve.
Make more money: B. This one is relative. I made a lot more money in 2022 when I had a W-2 job. Then in 2023 I added 1 more rental property stream of income, but that didn't make up for the loss of the W-2 job. In 2024 I improved the cashflow of my rentals and I completed my first flip which made good money, but I still need to do more.
Protect your money: D. I pulled money out of my IRA to fund my flip. It worked, but I am paying too much in taxes for that. I also lost money on a scheme that I won't bother to detail. Watch out for those money predators.
Budget your money: A. This has been going better than I expected. It has helped me plug money leaks in my personal life as well as my rentals and my flip.
Leverage your money: B. I used cash to make a deal work, because It didn't make sense with the extra cost of borrowed money, but I opened new personal and business lines of credit and I have used to make more money.
Improve your financial intelligence: A. I contacted multiple lenders and found one that saves me thousands of dollars and lets me borrow only for the purchase and not the rehab. I also started listening to more real estate investing podcasts while in the car, and it fills my head with more good ideas and resources.
Your goals will be personal to you, and you may want to choose different subjects to grade, but it only works if you are honest with yourself about what you are doing well and what you aren't. This is not a one-time exercise, but needs to be repeated annually to make a significant difference in your life. It is about feedback on results and creating an action plan to improve the results. For tasks like bookkeeping or marketing and promotion, hire people to do what you don't enjoy or are not good at, and use that time to do what you are best at and will get you the best return on your money. For skills, however, the opposite is true. To improve a skill, you must do more of it. Consider enlisting help to make sure you are doing it correctly.
Put it in writing or it isn't real.
Tell someone else about it to create accountability.
Here's to successful investing in 2025!
Dwayne Denzinger
Chicago Area Real Estate Investors Association - Librarian
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| Upcoming Events |
CAREIA
Board of Directors
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CAREIA Monthly General Meeting
Monday, January 13, 2025 @ 7:00 p.m.
Networking starts at 6:45 p.m.
Hyatt of Lisle • 1400 Corporetum Drive, Lisle
Topic: Business Goal Setting
Key Note Speaker: Steve Beck
https://www.careia.org/event-5948705
Short Term Rental Sub Group Meeting
Monday, January 20, 2025 @ 7 p.m.
Portillo's Hot Dogs, 531 N. Randall Rd., Batavia, IL 60510
https://www.careia.org/event-5971600
Anyone who has an interest in investing in short or mid-term rentals are invited to attend our monthly STR sub group meeting. Each month we will have an open forum to discuss all things short term rentals.
Real Estate Networking Night
Monday, January 27, 2025 @ 6:30 p.m.
Portillo's Hot Dogs, 235 E. North Avenue, Glendale Heights, IL 60139
A FREE Member & Non-member Event https://www.careia.org/event-5948698
Cash Flow Game Night (Members Only Event )
Wednesday, February 5,, 2025 @ 7:00 p.m.
McDonald's off Highland Avenue
1 Yorktown Shopping Center, Lombard
https://www.careia.org/event-5948692
CAREIA Monthly General Meeting
Monday, February 10, 2025 @ 7:00 p.m.
Networking starts at 6:45 p.m.
Hyatt of Lisle • 1400 Corporetum Drive, Lisle
Topic: Property Management
Key Note Speaker: Mark Ainley
https://www.careia.org/event-5948706
Short Term Rental Sub Group Meeting
Monday, February 17, 2025 @ 7 p.m.
Portillo's Hot Dogs, 531 N. Randall Rd., Batavia, IL 60510
https://www.careia.org/event-5971602
Anyone who has an interest in investing in short or mid-term rentals are invited to attend our monthly STR sub group meeting. Each month we will have an open forum to discuss all things short term rentals.
Real Estate Networking Night
Monday, February 24 2025 @ 6:30 p.m.
Portillo's Hot Dogs, 235 E. North Avenue, Glendale Heights, IL 60139
A FREE Member & Non-member Event
https://www.careia.org/event-5948700
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President: Pete Gordon
Vice President: Steven Bell
Secretary: Rob Hayes
Treasurer: Vanessa Krynen
Librarian: Dwayne Denzinger
Programing: PK Kleinert
Vendor: Iva Norris
Newsletter: Belinda Moore
Publicity: MaryAnn Skweres
Membership: Danny Galvez
Tech Support: Keith Jablonowski
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Our mission
To support and
promote local real estate investors
though networking, education, support, leadership on
legislative issues,
and promoting professionalism
and standards of excellence in the
real estate
investing industry.
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WORDS OF WISDOM
“When one door closes, buy another one and open the door yourself..”
-Anonymous
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Library Book of the Month
How to Buy Houses with NONE of Your Own Money
No money, No credit, No problem! You can buy houses now with NONE of your own money and without the support of banks. You are in control. All you need are the techniques in this book and the willingness to acquire real estate, and you will achieve success in the rewarding world of real estate investing. This book is filled with real life examples of deals that occurred in the real world. Its not written by someone who only TELLS you how to do it. Phil Falcone DOES it every day! Buy Properties With None of Your Own Money and actually get PAID to do it! This book shows you the unique home buying techniques that will let you BUY and KEEP properties with none of your own money, while providing you with CASH— right from the start! Phil Falcone – The Real Estate Addict From his first investment property over 25 years ago, to his relentless search for the next great deal every day, Phil Falcone is a non-stop real estate investment machine! Phil is a Philadelphia area full-time real estate investor who started in the business at the age of 23, and whose portfolio today includes commercial offices, apartment buildings, and single family homes. Phil is also a noted author, coach and real estate mentor to countless successful real estate investors. Phil’s first book “Addicted to Real Estate – Why I Can’t Stop and Why You Should Start”, chronicles his addiction and shows you how you too can start controlling you own financial destiny through real estate.
Did you Know?
We have: Books, CD's, and even Movies!
Have you ever wanted to read a book or listen to a course but didn't want
to spend the money knowing if it was what you really wanted?
Well, that's what our Library is here for. It's for you to read, listen or even watch some great things on real estate without having to dish out the bucks!
Sometimes you will find you may want to purchase the book or program after you borrow it. Great, but aren't you glad you didn't pay for all the ones that just weren't right for you?
To check out materials:
- Only members can borrow materials
- Review inventory here: https://www.careia.org/LibaryList
- Fill out CAREIA Library request form
- Receive materials at the next General Meeting
- Materials are due back in one month
- Note. If materials are not returned, member is responsible for paying cost of materials for replacement.
