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Updated over 7 years ago, 05/23/2017
New Investor from Chicago, IL
Hi all. My name is Justin DeCamp and not only am I new to BiggerPockets, but I'm new to real estate investing on the whole. I was introduced to real estate investing and BiggerPockets through a friend and have slowly but surely become more enthralled by some of the possibilities that exist within the world of real estate. Specifically, I am interested in the idea of supplementing my income as a software developer with income from note investing. I have previous investment experience, but have never invested in real estate or notes specifically. My first goal is to invest in my first note and then make my way to holding 10 notes as I become more experienced. Thank you all in advance for your time and expertise.
hi Justin! Welcome to BP! I'm investing in flips and buy and holds with my group Chicagoactioninvestors! We hope you can join us sometime!
Aaron Vaughn - thank you very much for the invitation and I'd be happy to accept. Do you have a meet up or event coming up that I could attend?
yes we meet every Saturday morning 10-12p pls connect via colleague request and I'll send you the information
@Justin DeCamp - Search BP for MACK and connect with various distressed OOS investors. I have seen their rehab and quite impressed with quality.
Happy Investing
Vivek
How's it going Justin DeCamp welcome to BP. Can I ask what made you want to start off with notes?
What areas are you looking to invest in?
What type of ROI are you looking for?
Are you only open to notes in chicago? Would you look into Indiana as well?
Indiana is cheaper on the taxes and overall more REI friendlier than Illinois.
What me and my partner do is make the transition very smooth for investors like you. We have our own rehab crew, property manager, and realtors to provide the best ROI when doing business. We are aiming to make the investor happy so that you come back to us for more properties. Our business operation is very honest and straight forward. If you need any help with deciding where to start or any general advice or direction send me a PM.
Welcome to BP! If you haven't already, be sure to check out podcasts 28 and 211 for more info on note investing. You might also find the following threads useful for learning about notes:
Justin DeCamp Welcome to BP! I'm also brand new looking for the exact thing you are, only I'm down in Houston. Looking forward to meeting others like yourself as we navigate the note investing world. Seems to be the best fit for me, too.
Thanks @Vivek Khoche! Will do
Thanks for the welcome @Elbert D.! I was thinking about investing in Chicago initially because I know the various neighborhoods/areas better. That said, one of the primary reasons that I am interested in note investing is so that I can more easily obtain geographic diversification long term.
I want to target a 15% yield per investment in order to account for the risk involved in note investing.
Thanks again for the warm welcome!
@Linda Hastings those links are great. Thank you very much!
@Sean C. - I'm happy to share what I learn as I take the leap. I don't know if you've read it or not, but I found Paper Profits by Joshua Andrews very helpful (Amazon link).
Books are a great start but you need to pay for training and pay more for mentoring. Check out @Scott Carson course Note buying for dummies. You need to a big overview of this industry. Some people enjoy Eddie Speed and the note school program. Both of these gentlemen are icons. @1ScottCarson appeals to my entrepreneurial DIY spirit. Do what this article says to speed the learning process 10 step to be an industry expert.
@Justin DeCamp Thank you and likewise! I just ordered that book sometime last week and am waiting for it in the mail so I'll be caught up soon.