own property, ready to sell and expand

[Matthew Kinsella]

Hello Bigger Pockets Family, so I have a unique situation. I own my condo in full, on the North side of Chicago. I've decided to sell and invest (first time) into a larger multifamily unit. I am seeing a value of somewhere around $230k + / - for my unit, and my thoughts are to sell and put 20% down on a 4 - 6 unit multifamily (conventional loan) with the awesome benefits of great cashflow and appreciation. I also would need to update my living situation, and would ideally househack another multifamily unit with an FHA loan, although I could always rent until the right opportunity arises. (My priority would be the original investment property that I'm not living in). Probably looking at the North side of Chicago or Northern / Northwestern bordering suburbs. I recently just upgraded to pro membership, and reached out to a few realtors on here. Super excited to start analyzing some properties.

Any and all advice and/or connections very appreciated.

[Jonathan Klemm]

@Matthew Kinsella - Sounds like a good plan to me. I'd say pull the trigger and list your condo and start looking for a 2-4 to house hack and utilize an FHA loan.

If you are looking for a good agent on the north side connect with @Tony Freeman or @Sarita Scherpereel

If you aren't preapproved and in need of a lender definitely talk to @Michael Facchini or @Zack Karp both our investor savvy lenders.

I always try to talk to as many experts in their specific field and decide who will fit best with my team and my overall goal/vision.  What's your end goal with real estate?

If you need any help on rehab or construction cost feel free to reach out.