New Member from Evanston, Illinois

[Michael Carpin]

Hi Everyone.

My name is Mike and I live in Evanston, IL.  I’m interested in the buy and hold strategy and would do so while keeping my full time job.  My wife and I live in a single family in Evanston and we have a single family home in the northwest suburbs of Chicago that we have been renting out for about 3 ½ years (our first house).  We’ve also got 3 young kids and one more on the way, and I was initially looking at real estate investing as a way to pay for college.  After doing some deeper digging on the topic, I like the idea of shooting higher and acquiring enough property to retire early.  Let’s say a 15 year plan.

I’m currently in the process of educating myself through books and Bigger Pockets.  I discovered Bigger Pockets through the Podcast and I’m amazed at all the information available.  I actually first looked into real estate investing back before the crash in the late 2000s and wish I had a resource like this back then.  I got discouraged because prices were so high compared to rents, I didn’t know how to find the right people, and didn’t have a resource like BP.  I’m giving it another shot and optimistic I can get something going this time armed with better tools.

Right now, I’m working on defining my goals, the market and types of property I’d like to invest in, and a personal budget for my investing capital.  I’m leaning towards small multi-family properties (2-4 units), but I’m not ruling anything out.  I’d like to invest in properties near me, but my area is kind of pricey, so I’d like to explore Chicago and surrounding areas, as well as Milwaukee and southern Wisconsin.  The biggest challenge I think I’ll face is finding great deals while working a full time job.

I’d like to connect with some people who might be aligned with my interests.  Thanks for reading my intro and let me know if you can direct me to any people that can help or point me in the right direction to get the ball rolling.  Thanks!

Mike