New Investor in Chicago, Illinois

[Michael Mayer]

Hello my name is Michael and I am looking into real estate as a means of growing my wealth. I have absolutely no experience in real estate and I've maybe hammered 4 nails in my entire life. I don't want to let that discourage me!

I currently work a full time job as an engineer in the oil and gas industry. I contribute a lot to my 401k and HSA, but I still have some money saved in excess. Because of this, I want to pursue a new opportunity to amass wealth and passive income rather than wasting it. My future self will hopefully thank me.

My short term goals are to house hack and/or BRRR my first multifamily rental. I am most interested in buy and holds for multifamily in the Chicago area. I hope to find solid cash on cash returns. While I have strong savings, I don't want to plop everything on my first deal. I originally thought "there are no deals in Chicago!" but after reading more and listening to more podcasts I just need to hustle and hunt. I hope to network with more people in the Chicago area that can help me understand the areas. I am unfortunately not from here so it's a little tough for me to understand what is "up and coming" versus "don't go here at night."

Look forward to networking with the community and learning as much as I can.

Thanks!