Help Wanted with House Flipping in Chicago Area

[Zach Taylor]

Hey everyone. I'm looking to get into house flipping and I'm wondering if anyone has some advice on how to get started in the Chicago area. I could also potentially go outside Chicago, like into the suburbs or northern Indiana or southern Wisconsin. I've heard that buying from wholesalers is usually the way to go for a flip, but I'm not sure how to find a wholesaler. I've also heard that I should go with a hard money lender for a flip, but I don't know any hard money lenders either. I also don't know any general contractors. I'm pretty new to this as you can tell, so if someone could point me in the right direction, that would be super helpful!

[Forrest Williams]

 Hi Zach, welcome to BP! I also flip houses in the Chicago area. I'll start by saying the best way to get into house flipping is to do a house hack. You're going to have a hard time getting a hard money loan if you have no experience and have no GC. That's a route for more experienced investors.

I got my start house hacking a foreclosed property in an outer suburb where prices were cheaper. From there I fixed it up, sold it, got another, sold it for more, etc. I lived in each one as I did it. Get a couple roommates that don't mind some dust, and you'll be well on your way. Lots of projects you can do yourself by youtubing the problem e.g. faucet replacement, drywall patching, flooring installation. That can teach you a great deal about how much work and money goes into each improvement. Let me know if you want to connect.