New Real Estate Investor in Chicagoland Ready to Learn

[Garrett Kula]

Hello Everybody,

My name is Garrett and I'm currently living in a northern Chicago neighborhood. I've read a couple of Brandon Turner's books now and have been getting really into the mindset to start this journey.

A couple major items I'm initially thinking of is where to start. I grew up in a northwest suburb an hour to an hour 15 minute drive away from where I currently live in Chicago; and my parents still live out that way. Even though the distance would be a lot farther to travel than initially investing in another Chicago neighborhood, I know the tenant laws are a lot more relaxed out in the suburbs, the average price of property is much lower, and it just feels like a smoother entry point than a large city in general.

I'm very interested in multi-family properties to begin my real estate journey and have worked on putting a team together, so I am getting closer to actually acting, not just observing. Does anyone have a similar experience of living in the heart of a city but choosing to mostly invest in the urban sprawl outside? Or any stories of starting with a single-family home helping ease you in instead of starting with a duplex or triplex?

Happy to be here and ready to learn!

[John Warren]

@Garrett Kula there are plenty of people who invest in the suburbs, and you can do just fine. The big thing is to get started with a good, quality property. Depending on where you are looking, inventory for 1-4 units can be a challenge as a lot of the NW suburbs are all single family homes unless you are further NW like Rockford or Elgin or something like that. 

The biggest thing is to get started and take action, which it sounds like you are doing.