Newbie Buy and Holder from Chicago/Northwest Suburbs

[Monisha L.]

Hi everyone,  I'm Monisha from Buffalo Grove, IL. 

My husband and I have recently started looking into buy and hold properties in Chicago Northshore and are looking to learn more on BP.  I'm excited to meet folks and build my network of realtors, contractors, investors, etc!

[Marlon Wilson]

Hi @Monisha L.

Welcome to Biggerpockets!

All the best!

[Roman Pak]

Welcome @Monisha L. I'm out of Arlington Heights. Good to see other investors from the area. BP is a great community with lots of knowledge and experience all in one place. If you're looking for contacts, PM me and I can supply a couple. Again, welcome to the site. 

[Monisha L.]

Thanks @Marlon Wilson!  @Roman Pak I'll PM you.

[Paul Timmins]

@Monisha L.

Welcome. Fill in the foundation below.

Check out the Start Here page http://www.biggerpockets.com/starthere

Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 100 past ones to catch up on.

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers (cash buyers). Find them through Google and meetup.com

Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook

Consider checking out HUD homes for small multi's owner occupied gets first crack.

You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good Luck

Paul 

[Pragnesh Patel]

We should start BG Real Estate club.

[Justin Pillion]

Welcome @Monisha L. let us know how we can help you and your husband reach your 2016 goals.

[Monisha L.]

@Paul Timmins thanks for the great info!

@Pragnesh Patel sounds like a great idea 😀

@Justin Pillion thanks - just getting our feet wet so far but will do!

[Gautam S.]

@Monisha L. Welcome to BP Nation! You are at the right place to learn all about REI online.

But the best way to learn is to buy your 1st distress property that needs light rehab.

You will learn a lot just by doing one project from start to finish.

Don't ignore the financing part!! very important if you really want to scale up... no one have unlimited funds...LOL!

Let me know if I can be of any help.

All the best!

[Monisha L.]

Thanks @Gautam S., appreciate the advice =)