Multi-Family Beginner Looking to Network and Learn

[Michael Ferrara]

Hello BiggerPockets family, my name is Michael Ferrara and I have been dragging my feet on getting started in Real Estate.  I have been going back and forth from Short Term Rentals, Long Term Rentals, Multi-Family, AirBNB Arbitrage and everything in between.  I would really like to get into purchasing multi-family buildings to rent out long term as well as purchasing C and D Multi-Family buildings and fixing them up to B properties to flip.

I would love to connect with others in this space as well as others that are getting started just like me to help each other on the journey.

One of the biggest problems I am trying to get over is how in the world will I be able to get financed for these types of properties.  I am self-employed make good money, however, on paper is a different story.

I am in the Illinois market, which my goal is to one day move far far far away from Illinois, however, for now this is where I will need to begin my journey.

I appreciate everyone on here and I am excited to connect, grow and hopefully be able to one day help others who are starting there journey just as I am today.

[Taylor Rossmann]

Hey Michael, where in IL are you located? I'm in Chicago. The best way to make a decision is to take a break from real estate, maybe 2-3 days off and come at it with a gut feeling.

Whatever you are feeling instinctually makes you most excited, give it a go. You can make money on anything.

As far as making money on properties and having no proof of income, you'll need to find people who can help you who have the money to finance deals.

On these types of deals, the value you can provide is helping find good deals, doing some of the legwork, and providing financial backing even though you don't have any proof.

Feel free to send me a message. I help people get started in real estate with no money.