Looking to network with fellow Chicago investors

[Mitchell J.]

Hi all,

I've been reading BP for several years now, and wanted to use the winter months to continue to build my network.  I have already connected with several BP members including @Brie Schmidt, @Henry Lazerow, and @Brian Nguyen - all of whom are awesome, and it's been great to see them scale and continue to build their business empires.

My investment strategy is focused on low-maintenance, relatively turnkey properties in class A/B neighborhoods that provide decent cash flow but also appreciation potential.  I'm particularly interested in the West Town/Ukrainian Village area, but also targeting Bucktown/Wicker Park, Logan Square, Lincoln Park, Lakeview, and other surrounding neighborhoods. 

Looking to network with other local investors to share ideas/observations, contacts, and investment strategies.  Some topics that I'd love to connect on:

- Multi-family opportunities:  I'm still looking to pick up my first multi-family in the area... haven't seen any where the numbers were attractive enough or didn't require a fair amount of work.  Would love any tips on how to find the right multi-family, watch-outs, and what some numbers could look like.

- Up-and-coming neighborhoods: I have heard a lot of buzz about some up-and-coming neighborhoods on the north and west sides (e.g. Albany Park, Avondale, Jefferson Park, Humboldt, etc.)  Would love to hear about your experiences in those neighborhoods, observations, and run through any deals you have done.

- General advice on scaling/developing expertise: I work a full-time job so real estate is currently my side hobby.  I've considered potential areas to grow my business such as getting my real estate license and/or getting involved in property management... but haven't quite pulled the trigger.  Would love to hear if any of you have hit a similar inflection point.

Drop me a line if you are interested in connecting.

- MJ

[Jonathan Klemm]

@Mitchell J. - Sounds like you are off to a great start connecting with some great realtors like @Brie Schmidt and @Henry Lazerow.  I know they have helped a ton of people in a similar situation to you and would highly recommend either of them.  And house hacking is the right way to go!  I like your strategy of looking in A/B neighborhoods, very similar to mine, just be ready to move forward even if the numbers aren't perfect (no cash flow in those areas).  Neighborhoods like Iriving park, bucktown, Avondale, etc. will always be appreciating so know your market and what to expect so you are ready to pull the trigger.

Not sure if you have spoken to any lenders, but if not you should definitely connect with @Michael Facchini.  He's a great wealth of knowledge and works with a ton of new investors house hacking.

Lastly, I'd highly encourage you to come out to the Chicago Multifamily Club meetup (https://www.meetup.com/Chicago-Multifamily-Club/) hosted by @John Casmon, @Nicole Valenzuela, and @Rj D..  A ton of great networking and straight forward helpful information from speakers.

Once you line up your property and need some help with management make sure to reach out.  Our company NestEgg offers an excellent solution to busy landlords who need help managing their rentals.