New To Investing Multi-Family Interest Me

[Jeremiah Johnson]

Soon to be 22 years old and I live in the south suburbs Chicago/ Northwestern Indiana area. I have set goals to purchase a rental property before the year end. Preferably a duplex. I'm thirsty for knowledge. I don't have much money but I have a good credit score so wholesales, loans, or fix and flips might be the way I have to start out to own my rental properties.

[Nicholas Osweiler]

Hi @Jeremiah Johnson and welcome to BP! It sounds like you have a great start for planning on how to achieve your goals. My suggestion would be to narrow your focus to one niche and just run with it. Not sure who said it but its better to be great at one thing than mediocre at 10! I think wholesaling is a lot more difficult than most think. I would read up on the BRRRR strategy (Buy, Rehab, Rent, Refinance, Repeat) if you haven't already (read and watch about it here https://www.biggerpockets.com/blog/brrrr-buyrehabrentrefinancerepeatprimer/ or https://youtu.be/udWrw5vhm2k)

This is the strategy I'm targeting and am currenty in the middle of acquiring a property from a local wholesaler that I found after connecting with him and his partner on BiggerPockets. Networking really is the key to success!

Another great resource to help quench your thirst for knowledge would be BP's "Ultimate Beginners Guide"  http://www.biggerpockets.com/ultimatebeginnersguide.pdf

Hope that helps and I look forward to hearing about your success in REI!