Brie Schmidt | Source | Owner / Managing Broker at Second City Real Estate

Brie Schmidt

Owner / Managing Broker at Second City Real Estate
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Brie embarked on her real estate journey in 2011, making her initial foray into the realm of property investment. By 2014, she made a decisive transition from the corporate world to become a dedicated full-time real estate investor. Her strategic focus led her to assemble a diverse portfolio, primarily consisting of 2-4 unit properties in the vibrant markets of Chicago and Milwaukee, culminating in the management of nearly 100 units.

As the astute Managing Broker of Second City Real Estate, Brie spearheads a premier brokerage firm tailored for investors by investors. Boasting an extensive network of investor clients, the firm excels in the swift and lucrative sale of properties. In the previous year alone, Second City Real Estate facilitated the addition of over $2 million in rental income to clients' portfolios. Since 2020, the firm has successfully overseen transactions amounting to $130 million in investment properties. Offering comprehensive services, Second City Real Estate stands as the go-to brokerage for all landlord needs.

Beyond her role in brokerage, Brie is a Co-Founder of The Midwest Real Estate Networking Summit, a distinguished event that distinguishes itself by eschewing pitches, creating an environment free from pressure and gimmicks. The two-day summit is designed to provide attendees with valuable insights through panel discussions, presentations, breakouts, and structured networking opportunities. Attendees can organically connect with industry peers, gain access to top-level strategies, and depart with a focused determination to elevate their real estate portfolios.

Brie extends her expertise as a real estate agent coach, imparting valuable knowledge on effectively working with investor clients. Leveraging her extensive background as an investor and collaborator with investors, her coaching program illuminates the nuances of the investor mindset. The course encompasses strategies for identifying investors, adeptly communicating in their language, conducting property analyses, and successfully closing deals.

Away from the world of real estate, Brie indulges her passion for travel. In recent years, her globetrotting adventures have taken her to diverse destinations, including Albania, Costa Rica, Croatia, Colombia, England, France, Germany, Greece, Ireland, Italy, Macedonia, Morocco, Portugal, Scotland, Serbia, Spain, Sweden, The Netherlands, and Thailand. This commitment to exploration reflects her multifaceted approach to life and business, embodying a spirit of continual growth and enrichment.

Websites:
http://www.secondcity-re.com/
http://www.midwestresummit.com/
Social Media:
https://www.facebook.com/chicagobrie
https://twitter.com/ChicagoBrie
https://www.instagram.com/chicagobrie/
https://www.biggerpockets.com/users/chicagobrie
https://www.linkedin.com/in/chicagobrie/

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  • Schmidt: Agent safety is very important. Make sure you’re taking precautions and following your company policy. The National Association of Realtors also offers a variety of agent safety apps and safety products.

  • Brie Schmidt, broker-owner of Second City Real Estate in Chicago, recalls how just one day after closing on her clients’ new home, the sewer backed up following a heavy rain and flooded the basement and first floor. “They had just arrived with their movers to find standing water everywhere,” Schmidt says. “It took three months and over $100,000 to renovate the home before they could move in.”

    Schmidt uses the story to remind her clients that not every component of a home is included in the inspection. “Oftentimes, a sewer scope, lead-based paint test, radon test or termite inspection are add-on services and not included in the standard inspection,” she says. “Your insurance agent should also explain the policy to you and what it does and does not cover. Sewer backups are not always covered in standard policies and would need add-on coverage.”

  • You should also establish how responsibilities and capital contributions will be handled.
    “I have seen partnerships established where both members are local and work together on the acquisition and management, and each owns 50% of the property with equal capital contributions,” Schmidt says.

    “I have also seen partnerships where one person is local and the other is not, the local person handles all the acquisition and management of the properties and receives a 20% interest and the out-of-state investor contributes all the capital and receives 80% of the partnership,” she adds.

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