Another Chicago N00b

[Richard Whitlock]

Hey all. I am looking at getting started in real estate in my area. I have read the beginners guide on here and browse the forums, but I feel like Chicago is a special place. Just looking for someone to kind of guide me/ bounce ideas off of. Maybe someone will let me buy them a drink/coffee and pick your brain from time to time. Ill try to explain my current situation and my ultimate end goal below. Thanks for your Time!

About me: 29, firefighter living on the southwest side of Chicago. Not married and no kids. I currently own a ranch home in the Mount Greenwood neighborhood. I have been living in it while rehabbing/updating it for the last year or so. I currently have about 50k in equity in the home, and would more than likely use that for a HELOC to buy my investment property. I am not wealthy so buying a house in cash or buying a house that needs a lot of money invested isn't really an option right now. I do have time and tools so sweat equity is my main asset.

Goals: Withing the next year I would like to buy my first investment property so when I retire I will hopefully be able to have some extra income besides my pension and 457(b). Id ideally like to just use real estate as a way to increase my income over the next 25 years and probably sell when I retire and use that money to travel or something. So not looking to become some overnight millionaire just simply supplement my lifestyle and see what happens. I'm open to renting or flipping since I have a lot of connections with construction guys and do some on the side myself.

Any and all info or advice would be appreciated! If you want to meet up drinks are on me!

-Ricky