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Updated almost 5 years ago,
Hi Everyone! Newb about to start looking for my first deal.
Hello Everyone! I'm clearly not *that* Brian Burke (something I've had to say on 3 completely separate occasions in my life now)
I'm a complete newbie currently renting in Naperville and working downtown. I've just been handed a gun (pre-approval) today and I'm looking to buy my first multi-family to house hack in the Chicago suburbs or possibly Chicago proper.
Education wise, I've tried to cover the basics so far. At this point, I've read and took notes on: the book on rental property investing, " estimating rehab costs, " managing rental properties, rich dad, poor dad, and I'm about halfway through Buy, Rehab, Rent, Refinance, Repeat
I'm also around 200 episodes in to the BP podcast after I wandered over to the youtube channel from Graham Stephan's - I basically listened from graham's interview forward to the most current podcast, and then backwards from the same episode over the last 2 months.
I've been practice-analyzing 3 or so deals a day for the last 20 days, and will start looking at properties this weekend. I feel like I'm missing something crucial because I read everywhere that I should be (or that people commonly are) scared to pull the trigger on their first deal, but I'm mostly excited. I can't wait to make a whole bunch of mistakes :)
Are there any critical books or other information for a new investor that I may be missing? I was planning on looking for the typical cosmetic rehab (or *slightly* more work) target property, possibly from a wholesaler, but I'd like to know if that's a good idea for the first property, or if I should go turn-key. I'll also be looking in the local forums and trying to find the nearest meetup around me.
Thanks for everything in advance; looking forward to joining all of you in this journey!