Real Estate Investment + Management
HOMELIFE Property Management real estate investment began by self funding projects, purchasing a 2-unit investment property in Davenport, IA, off the Mississippi River in 2008, and a 3-unit apartment building in Chicago, IL in 2013. These were managed directly, as well as remotely, with yearly positive net income. After 7.5 years, the Chicago building was sold as a turnkey property for a large cash profit with valuation more than double the original purchase price. The IA building was sold in early 2022 for a strong cash profit, with 6X cash return on original startup cost after 14 years of successful ownership and management.
We evolved a facilities services outfit performing maintenance and repair, yard maintenance and snow removal, and commercial cleaning for small Chicago businesses and multinational corporations, blossoming from ownership of the Chicago building. This venture consistently maintained mild positive cash flow, with very little startup cost, all while paying contractors well for their excellent work throughout the entire lifecycle. This facilities services business ended safely during the pandemic in 2020 with zero debt.
We are preparing for further real estate investment opportunities. These will likely become sustainable, renewable energy developments. More to come soon.