New and Jumping Into the Deep End in Chicago

[Albert W.]

Excited to have found this forum! I’m an architect in Chicago looking to get on my feet on the development/ownership side of the industry. Ultimately my goal is to work as an “Architect-as-Developer”. It’s frustrating being an architect in an industry where the client holds the deck of cards. Being on the owner’s end will give me more freedom to design the projects that I want, be in charge of my own product as well as my financial success.

That has brought me here and one of the tools I’m using to achieving my goal is to both flip, and hold property (as well as any number of combinations of the two).

I recently fixed up a foreclosed condo in Albany Park, and just purchased a 2-flat in Avondale where renovation construction will begin in June. It’s a slow start but I’m excited to have jumped in the water! I look forward to sharing what I’ve learned and learning from all of your experiences! 

[Wendell De Guzman]

Originally posted by @Albert W.:

Excited to have found this forum! I’m an architect in Chicago looking to get on my feet on the development/ownership side of the industry. Ultimately my goal is to work as an “Architect-as-Developer”. It’s frustrating being an architect in an industry where the client holds the deck of cards. Being on the owner’s end will give me more freedom to design the projects that I want, be in charge of my own product as well as my financial success.

That has brought me here and one of the tools I’m using to achieving my goal is to both flip, and hold property (as well as any number of combinations of the two).

I recently fixed up a foreclosed condo in Albany Park, and just purchased a 2-flat in Avondale where renovation construction will begin in June. It’s a slow start but I’m excited to have jumped in the water! I look forward to sharing what I’ve learned and learning from all of your experiences! 

 Welcome to BP.

To fix-n-flip and buy-and-hold, it's crucial to have access to great deals and good funding. To have an idea what great deals look like, check out my Real Life of a Real Estate forum posts - here: http://www.biggerpockets.com/forums/223/topics/183...

For buy-and-hold, you need to calculate the numbers properly. I came up with a good calculator and I posted it here on BP Fileplace. Here's the link:

http://www.biggerpockets.com/files/user/Mister4clo...

Every third Wednesday of the month, I also organize a Lender Meetup so you can meet different types of lenders who can help fund your deals. Here's the recording one of these lender meetups: