New Investor in Oak Park, IL

[Nuvie Ewharekuko]

Hello everyone!  My name is Nuvie Ewharekuko and I am very new to the Real Estate investment space and new to the Chicagoland area as well.  I've always had an interest in the Real Estate industry and have recently decided to put action to interest with Investing.  Many people that I've met have told me about this site so I am happy to join the knowledge base.  I am on BiggerPockets to network with other passionate investors working in the field and work with private investors as well.  I am learning a lot and welcome any additional information on how to be successful in this wonderful world of Real Estate Investing. 

My goals in Real Estate include 5 rentals in the next 2 years, to begin wholesaling this year, and figuring out flips next year.

To help me learn more about the area and to better assist fellow investors, I am taking classes to acquire my IL Real Estate Broker license (should be licensed by February).  I am also under contract for my 1st rental property (which is very exciting for me, seeing as how I've never owned)!

Stats:

4-units (8 bedrooms, 4 bathrooms total)

Locatiion:  Forest Park, IL

Purchase Price:  $262,000

Estimated Rehab:  $100,000

Financing: FHA 203K Standard (3.5% down, 5% interest)

Cash Flow based on 50% Rule:  $809

Any thoughts/feedback?

Looking forward to the dialogue and conversation!