New to RE and looking to network/connect - Chicago area

New to RE and looking to network/connect - Chicago area

Chicago · Member since 2018 · 5 posts · 2 votes

Hello all,

My name is Patrick, and I'm from Chicago. I graduated from college in 2016 and went the entrepreneurial route by starting my own company. I still run it today, but my parents who are both realtors advised me to get my license on the side. So I passed the test several months ago and now have my license, yet I was never very interested by real estate. But once a friend told me about Bigger Pockets, I instantly became hooked. I've listened to almost 100 podcasts in about two months. 

What excites me the most is multi-family, BRRRR strategy, and any sort of creative financing to make a deal work. I can listen to a ton of podcasts, and read many books on the topic, but it's still not quite the same as talking to someone who has actually done it. I would love to connect with anyone who can give me advice or their thoughts on the best way for an ambitious 25 year old to get started. (Especially if it can be specific to the Chicago area market). Feel free to comment on this post with your thoughts, or if you're in the area I am happy to meet for lunch. Thanks for your help!

Sincerely,

Patrick

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Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
7y
Originally posted by @Patrick Aloisio:

Hello all,

My name is Patrick, and I'm from Chicago. I graduated from college in 2016 and went the entrepreneurial route by starting my own company. I still run it today, but my parents who are both realtors advised me to get my license on the side. So I passed the test several months ago and now have my license, yet I was never very interested by real estate. But once a friend told me about Bigger Pockets, I instantly became hooked. I've listened to almost 100 podcasts in about two months. 

What excites me the most is multi-family, BRRRR strategy, and any sort of creative financing to make a deal work. I can listen to a ton of podcasts, and read many books on the topic, but it's still not quite the same as talking to someone who has actually done it. I would love to connect with anyone who can give me advice or their thoughts on the best way for an ambitious 25 year old to get started. (Especially if it can be specific to the Chicago area market). Feel free to comment on this post with your thoughts, or if you're in the area I am happy to meet for lunch. Thanks for your help!

Sincerely,

Patrick

Welcome to the site Patrick. BRRRR strategy is a great way to stretch limited funds. Most anyone can turn themselves into an eventual millionaire utilizing that strategy. Good luck to you.

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  • Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    7y
    Originally posted by @Patrick Aloisio:

    Hello all,

    My name is Patrick, and I'm from Chicago. I graduated from college in 2016 and went the entrepreneurial route by starting my own company. I still run it today, but my parents who are both realtors advised me to get my license on the side. So I passed the test several months ago and now have my license, yet I was never very interested by real estate. But once a friend told me about Bigger Pockets, I instantly became hooked. I've listened to almost 100 podcasts in about two months. 

    What excites me the most is multi-family, BRRRR strategy, and any sort of creative financing to make a deal work. I can listen to a ton of podcasts, and read many books on the topic, but it's still not quite the same as talking to someone who has actually done it. I would love to connect with anyone who can give me advice or their thoughts on the best way for an ambitious 25 year old to get started. (Especially if it can be specific to the Chicago area market). Feel free to comment on this post with your thoughts, or if you're in the area I am happy to meet for lunch. Thanks for your help!

    Sincerely,

    Patrick

    Welcome to the site Patrick. BRRRR strategy is a great way to stretch limited funds. Most anyone can turn themselves into an eventual millionaire utilizing that strategy. Good luck to you.

  • Lender · Chicago, IL · Member since 2017 · 438 posts · 193 votes
    7y

    Hey @Patrick Aloisio, welcome to BP!  Congrats on getting your license and now getting your feet wet in the real estate world!  Multi-units are definitely a great way to go (especially in Chicago)....that is how I got started and where my focus remains today.  Happy to guide you along the way however I can.  For starters, there is a great Chicago investing group that focuses on 2-4units and has monthly seminars that discuss all kinds of topics.  Each event focuses on a different topic matter, from House-Hacking 101, the search & purchase process, property management, financing, risk mitigation, the structural & mechanical components of a property broken down, and more.   I believe they're putting their 2019 schedule together now, but PM me and I'll connect you.  

  • Flipper/Rehabber · Chicagoland · Member since 2018 · 3 posts · 3 votes
    7y

    Hi @Michael Facchini - Please let me know about the schedule of the monthly seminars you are referring to in your message above. I always love educating myself & networking with like minded investors.

    Thanks!

    Danny Baylis

  • Mark AinleyBusiness Member
    Property Manager · Roselle, IL (Chicago Suburb) · Member since 2013 · 2k+ posts · 1k+ votes
    7y

    @Patrick Aloisio welcome to the site.  Maybe sometime we can talk offline. 

  • Retirement Accounts Attorney · Southfield, MI · Member since 2017 · 3k+ posts · 1k+ votes
    7y

    @Patrick Aloisio

    Welcome to Bigger Pockets. I really enjoy connecting with others on the site.


    @Patrick Aloisio

  • Park Ridge, IL · Member since 2019 · 8 posts · 1 vote
    7y

    @Michael Facchini

    Hi, I’m new to RE investing and looking to invest in multi-units. I’m interested in networking with other investors in the Chicago area. Can you send me the schedule of seminars?

  • Investor · Chicago, IL · Member since 2018 · 46 posts · 55 votes
    7y

    @Michael Facchini Hey Michael, if you could pm me with that list too that would be amazing. I'm pretty new to the real estate investing world too and have been stuck with analysis paralysis pretty often. I'm wondering if anyone would like to team up and try to tackle and analyze some deals together. 

  • Real Estate Agent · Chicago, IL · Member since 2017 · 2k+ posts · 2k+ votes
    7y

    Welcome! I am also a young professional and happy to chat. BRRR is a solid strategy. I usually tell my clients to do a pretty mild value add first deal you can then refinance by pulling higher comps and the mild value add to get a HELOC (this is just a line of credit while keeping original mortgage) there is a bank in chicago that does 95 LTV HELOC you then pull from that HELOC for the next deals rehab funds to do a more significant rehab. Works well for house hacking and paying contractors yourself you get the work done way cheaper without all the red tape.

    Meet Ups...I always go to the one at Sullys House in Old Town and at Dino's Pizza in the west burbs they are great. They are usually on Meetup.com or BP events 

  • Lender · Chicago, IL · Member since 2017 · 438 posts · 193 votes
    7y

    Tried posting the event details but BP moderators kicked it off.  If you're interested in knowing more, just PM me.  Thanks!

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