Newbie from Chicago, IL

[Charlie Shields]

Hello BP Community!

Very excited to get started with Bigger Pockets. First, many thanks to Brandon & Josh for all they've done with BP. I've been loving the BP podcasts. I feel I've come so far in such a short amount of time.

My name is Charlie, and I got into real estate investing late 2015 when I was presented with the opportunity to buy a home that has been in my family since it was built in 1919 on Chicago's northwest side. I currently work for the commercial department of the British government helping UK companies sell their goods and services in the US and US companies set up or expand their business operations in the UK. It's a great job. I'm lucky to have it, but it's a job not a career. I have chosen real estate investing as my next career move, and am very excited about starting.

My goal in real estate are to earn a passive income to achieve financial independence. My one-year goal is to buy my family's home - a two-flat (duplex) - using a buy and live strategy, rehab the first floor, and make a positive cash flow from renters on the first floor. My two-year goal is to buy a duplex or triplex on Chicago's northwest side. That's as far as I have gotten concretely.

The first floor of the house I am going to buy needs work done on it. I would love some advice from someone with experience estimating the costs of repairs and rehab. This would be much appreciated! 

I look forward to connecting!

Best,

Charlie