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Updated over 4 years ago on . Most recent reply

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Wayne Burrows
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What are my options in Chicago as a rookie?

Wayne Burrows
Posted

I haven't done anything in the world of REI yet. I have been living, eating and sleeping real estate for over a month now. I now officially have a Man Crush on Brandon & David. Lol. I'm currently in the process of learning exactly how the numbers work so that I will be able to analyze a good deal when one slaps me in the face and then transform that into a great deal by the time negotiating is over with. My thing is I'm in Chicago, so if I choose to start off by wholesaling, Mostly all, if Not all of my deals are going to have to be virtual - which then means, (I think), that I would have to have boots on the ground wherever the property is, for someone to lay eyes on it. Does that make sense or that isn't necessarily the case?

My pipe dream is this - Mastering the numbers to find and negotiate Great deals in order to find a private and/or hard money lender that would be willing to finance it. Which is why I need to be a master numbers cruncher so that I could get a BRRRR or Flip funded while having zero experience under my belt. Obviously, I Have To make it worth their while. So... Pipe Dream OR Possible?? What say you all? THANX!!

Most Popular Reply

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Mark Ainley
  • Property Manager
  • Roselle, IL (Chicago Suburb)
1,412
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Mark Ainley
  • Property Manager
  • Roselle, IL (Chicago Suburb)
Replied

@Wayne Burrows Welcome!  Why not find a wholesaler group, many good ones here in Chicago, and be part of a team to get going to learn the ropes.  Collaberation not compitition.  Your greatest advantage is you are here in Chicago.  9-10 million people in metro area, 1 million+ investment units, huge enconomy with many sub market economies in the suburbs.

You should be lining up people you can ask for money now so on your wholesale venture you have opportunity to snag a deal when you see one.  Your dream will go as far as you are willing to work for it.  

3 years from now when you look back at your post you left here today what do you want to have accomplished.  Ball is in your court!

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