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Updated almost 3 years ago on . Most recent reply

User Stats

5
Posts
11
Votes
Joe Malloy
  • New to Real Estate
  • Kankakee, Il
11
Votes |
5
Posts

New investor introduction

Joe Malloy
  • New to Real Estate
  • Kankakee, Il
Posted

Hello, I am just starting out in my investing career, I purchased my first duplex in Kankakee, Illinois in November. I have spent most of my life in the construction industry and spent a few years in the Marine Corps Reserves. I'm currently in the Chicago Tile Setters Union although work has been slow for the past few months. I wish to keep investing but due to the lack of steady w2 income lately, I'm putting the active investing on hold to focus on educating myself as much as possible until work picks up or I find some creative financing. I have listened to most of the audiobooks put out by Bigger Pockets and as many podcasts as I can throughout the day. I was initially focused on multifamily buy and hold but am experiencing a serious case of shiny object syndrome and keep getting distracted by brrrr and short term rentals. If anyone needs any tile work done south of Chicago,  or has any input or advice for me on which route to pursue, please let me know.

Most Popular Reply

User Stats

5
Posts
11
Votes
Joe Malloy
  • New to Real Estate
  • Kankakee, Il
11
Votes |
5
Posts
Joe Malloy
  • New to Real Estate
  • Kankakee, Il
Replied

@Eudith Vacio thank you. I did a cash out refinance on my primary residence to purchase the duplex. I’m planning on making improvements and refinancing the duplex as soon as I can. Both units are occupied though so it’s difficult to get in there and get any work done.

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