Newbie from central Illinois

[Libby Baugher]

Hi all! Wanted to introduce myself. I’ve been thinking of getting into real estate investing for about 6 months now. I’ve been reading posts here, books, watching webinars and studying anything real estate related. I’ve talked with my local small town bank about real estate investing and financing (they are onboard), talked with my realtor here in Peoria (who has done flipping herself in the past) about helping me find properties, will soon be talking with a realtor friend in Springfield (who also invests herself) to help find properties in that area in addition to already having in place general contractor/handyman and an electrician and a neighbor who used to manage rental properties and apartments and is willing to help me out with that aspect of real estate. I’m hoping to purchase my first rental this year ( single family or small multi family). I feel like I need to get started on this as soon as possible so I will have monthly passive income by the time I retire which will be within 5-10 years (I am 51). My interests are single family and multi family rentals and I’m considering flipping occasionally for that shot of cash when needed. My goal is to get to at least 3000-5000 monthly cash flow by the time I retire. I would prefer to work within my area but am open to locations other than my “backyard”.

Looking forward to learning from all of you and developing productive relationships!