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Updated over 9 years ago on . Most recent reply
Beginner in Chicago
Hi BP! I became a landlord on pure, dumb luck when I moved to Chicago three years ago.
I bought an REO condo in Logan Square, fixed up some cosmetic stuff (who in their right mind paints a living room dark brown?) and not only has it doubled in value, I'm now renting it out at $800/month cash flow.
I'd like my next purchase to be a buy-and-hold multifamily so I can take advantage of FHA 3.5% down. Properties here are selling like hotcakes, and there aren't as many deals anymore, so it might a while until I find the right fit.
Until then, am excited to officially join the Bigger Pockets community!