Newbie Needs Assistance

[Rosa Weatherly]

Hello BP,

My name is Rosa Weatherly I live in Chicago on the Southside I am to BP and new to real estate investing. Although I don't feel new to real estate because for at least five years I have taken every course and attended every seminar out there. Just last week I was invited to a real estate investing college that will cost $20,000 to teach me how to invest in real estate. Although I know that knowledge is power and 5 years ago a real estate college would've been a great idea I really just need to know how do I get started.

I have  three properties that I am looking at right now. One property is $11,900 in the Englewood area and will need a complete rehab. And the other is $85,000 8 unit in Englewood that is fully occupied. Last a three unit for $125,000 in Woodlawn that will need some updating.

Are these types of properties good for a new investor. I struggle with the idea of buying a cheap property in a not so good area? Or a property that cost a little more in a decent area because I am using private money for the deals. Any ideas?

Thanks in advance for any help.