Looking to connect with Realestate Investors in the Chicago area.

[Darrel Hernandez]

Hello! I am new investor in Chicago looking to connect with other like minded individuals. I currently own a 2 unit building and looking to purchase my 2nd property. I am most interested in the BRRRR method however, as a new investor I am open to other forms of REI. Looking to to collaborate, bounce ideas of each other and possibly partner. Mainly I'm looking to surround myself with more RE Investors. As the saying goes, "You are the average of the people you spend the most time with"

[Paul De Luca]

Hey @Darrel Hernandez!

What strategy did you use to buy your first property? And what makes you want to pursue the BRRRR strategy the most? Unless you have experience with contractors & rehabbing distressed properties and the ability to make cash offers, trying to BRRRR in this market could be difficult due to the competition.

I always recommend house hacking especially for newer investors since you can purchase a cash-flowing asset with minimal cash out of pocket while also taking on some improvements to the property to gain experience with adding value, if it works for your budget/needs. You live in the property for about a year and get to know the building well along with your tenants. Plus, it's a great way to build reserves by minimizing your housing expense.