New to real estate investments. Want to start with small multifamily in Chicago.

[Bruno P.]

Hi everyone,

I'm new to the world of real estate investments. I recently started studying FI strategies and it led me to this community!

I live in Chicago and plan to buy my first house hack by end of year/beginning of next year.

Looking forward to learn from all of you!

[Taylor Doyle]

Hi Bruno, Welcome! My wife and I house hacked our first investment property. It's been an exciting, frustrating, wonderful, hair-pulling, magical adventure. ;). We love our home, but being engaged in this community earlier would've saved us a lot of heartache, so I applaud you for reaching out as you get started. A few thoughts:

1) I echo @Simon Ashbaugh recommendations. 

2) I'd recommend talking with investment focused real estate agents and finding one that understands the area your interested in.  

3) Get a investment analysis spreadsheet or use the Bigger Pockets Calculators to run numbers on as many properties as you can in your area (try to run calculations on 3-5 buildings per week) to figure out what's a good deal. Talk with your RE agent about properties your interested in and try to visualize the cost, process and time invested. (Especially when you live at your investment, it can be time and attention consuming, but it's an incredible way to learn the ins and outs of real estate investment.)

3) Attending local meet-ups is a great way to make connections and learn. Here are a bunch in the city. https://www.straightupchicagoinvestor.com/chicago-real-estat...

4) And be patient. Depending on your buy box and location, right now is a hard time to find deals with current interest rates (at least in my area), but if you run the numbers regularly, you'll be ready when the right opportunity comes up. 

Good luck and happy to connect and discuss more if you want recommendations on resources or contacts!