New Member from Chicago

[David Zhang]

Hey there, BP Community!

My name is David and I'm currently living in Chicago, Illinois. I've been looking into ways to gain some passive income for a while, but nothing got me quite as excited as BiggerPockets.com and investing in real estate. Since the start of the week, I've already churned through 3 audiobooks, including Brandon Turner's book "The Book on Rental property Investing", 2 paperback books, and a handful of BP podcasts! It's been a wild ride these past couple of days and I've got so many ideas running through my head already. I can't wait to see where Bigger Pockets and it's amazing community will take me. Just from lurking around this forum, I know we're gonna be a great fit.

A little bit about myself: I graduated from Depaul University in Chicago in 2013 and have been working as an IT Consultant every since. I love weightlifting (and competing in weightlifting competitions), rock climbing, cooking, and board games.

The markets I'm looking at are Chicagoland and the Minneapolis/St.Paul area. My goals are..

• For the next 6 months, learn as much as I can about investing in real estate
• In the following 1.5 years, buy a multi-family property and rent it out.

Looking forward to talking with all of you soon!

[Logan Allec]

Welcome, @David Zhang! In my opinion, house hacking a 3- or 4-unit property using FHA 3.5%-down financing is the best option for a young person looking to get started investing in real estate. Just consider the benefits:

1. You immediately get landlording experience over not just one unit but three and when you move out four units.
2. With only 3.5% down, you'll still have plenty of cash for other investments, such as a Pennsylvania property.
3. You live for free, or at least heavily subsidized by your tenants.
4. In 30 years when the mortgage is paid off, you’ll be sitting on a million-dollar asset that cash flows thousands of dollars per month.

It’s really a no-brainer for 20-somethings.  Good luck, man!