New Real Estate Investor in Northern Illinois

[Philip Doetsch]

Hello Everybody, My name is Phil Doetsch, I live in Lake Bluff, IL about 30 miles north of Chicago. I work in finance and have developed an interest in building a portfolio of rental properties over time. I am currently in the education phase, reading a ton, listening to podcasts and starting to develop my network. I am looking to start with a property for around 100k, which will most likely be a single family home and over time scale up to duplexes, multifamily etc. Hoping to buy my first property by this coming fall, just want to make sure I've done my homework. I am targeting SE Wisconsin, so towns such as Kenosha, Racine and Milwaukee. This seems to fall more in my budget, has some solid potential with the businesses that are moving there, and less of a mess than Illinois. However, I am not against looking at properties in Chicagoland. I am close to the IL/WI border so I figured I'd take advantage of that. I am very excited about getting started. Any feedback on my target market, groups I should look into or other resources to educate myself would be greatly appreciated!

[Taylor L.]

Welcome Phil. As a multifamily guy, my best advice is don't sit on the sidelines learning for too long. Books and courses will only teach you so much, and it won't be as valuable as actual experience. Take action early!