Buy and hold investor

[Oscar J Osorio]

I am an investor in Washington state, but my real estate interests are aimed at the Illinois market.

I am learning and enjoying my journey and studying everything coming my way, hopefully I will listen and learn from all the experience I see in this site, thank you

[Michael Lee]

Hello and welcome to BP! Chicago would be a great place to invest. From what I have heard, it's very divers. I do not know anything else about Illinois so make sure the economy is diverse and the population is growing in the market you select to invest in. There are several things you should consider doing before you start investing. Besides the niche and market selection, depending on what you have to lose personally, you might want to form some kind of corporation or a LLC.

Do not do that until you decide what you are going to do.  Another thing would be to figure out who you are going to use as financing so you can have a loan pre-approval letter that states how long that might take and the maximum amount you qualified for.  Another thing you need to consider you office location and make sure it does not have distractions.  You can use your place but it is recommended that your office in your place is abled to be closed off and is not distracting to you.

I am 60 years old and I have much to offer you.  Have a budget for your property management company and hire someone that has experience in that area.  That will be necessary if you buy anything out of town that will be necessary and help you sleep on weekdays and weekends and not worried about every phone ring.  Plus that will make you more income productive.  The neighberhood needs to be fairly attractive to help you resale and provide a positive cash flow in the begining.

Talk to the neighbors in those areas and see what they have to sat about that property.  Ask the Chamber of Commerce to see what future is telling them.  Practice if you have the time with estimates and offers.  You might have to hustle to get a deal right now.  I do believe that quantity should help you in relation to getting things done.  Make more offers and be patient and consistence.  

I have been in the construction since I was 17 including those college years.  I also had a real estate broker license for about 30 years but never did that full time.  My father who has been buying and selling real estate (mostly commercial) for about 45 years and he has taught me a little bit.  If you think that I could help on real estate you can just contact me through BP at any time.  I am on it about every day. Good luck to you!

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