Motivated Rookie from Chicago's NW Suburbs

[Kyle Mastio]

Happy Friday night BP community!  Very happy to have found the site and definitely appreciate everyone's free advice and experience!

My name is Kyle Mastio.   I'm a 28 year old IT manager for a large financial services company based out of Riverwoods, IL.   My short term goals include keeping my 11 month old daughter breathing and best friend of 11 years (wife of 3) from leaving.  As you can see, I set high expectations for myself ........I'm kidding of course.  

While I've made a modest living understanding the basics of technology and business, I have always known that corporate America isn't my long term calling.  That becomes more clear with each passing day.   The rat race must end.

I have been interested in real estate from the time I learned the value of a dollar and would often find myself seeking deals for fun as soon as I had even a little money in the bank.  I purchased my first property at age 22.  I couldn't pass up the opportunity to "buy low" as the market was busy pooping its pants in late 2009 (look who I'm telling).  I got my first experience with a short sale and also realized how cool "free money" was.  Remember that 8k tax credit for first time buyers?  Thanks by the way.  Anyway, my wife and I put ~$10k and a lot of sweat in to the property and after taking advantage of "Make Me Move" marketing had tenants all but knocking down our door.   Everyone comes running to the shiny new granite and stainless steel pennies!  We purchased a foreclosure to be our primary residence a mile down the road and have been renting the original property for 2 years.  In that time we have benefited from positive cash flow and appreciation.

We are now looking to take a little off the table as values have increased and our lease is expiring.  Our tenants have been fantastic (low maintenance and on time automatic payments), which I know has probably sweetened my impression of "buy and hold" a bit.  We are now looking to purchase a third property to shift those tenants in to.  I've actually partnered with my father who has experience in the commercial real estate game (specifically hotels) and is in a far better liquid capital position at the moment.  My tenants and I have worked together to find a place they want to call home, and I will assign the contract to my father while I assume property management responsibilities as part of our operating agreement.

In the short term, I'm looking to learn from the experiences of others, specifically with regards to wholesaling.  Long term I am looking for income and financial stability through buy and hold strategies.  I wouldn't mind taking a stab at a flip, but not without a solid exit strategy.

Happy investing!


"Confidence without arrogance"