All Forum Posts by: Andrew Lisi

We are looking to purchase our 1st investment property. As I'm learning more, I want it to be a 2-4 unit multifamily home that we would "house hack." We don't have enough savings for a down payment in Chicago (city proper) so I'm considering taking the max out of two IRAs for an additional $20,000. I'm aware of some of the tax issues, but not fully. I'm wondering if, given that we don't have enough savings and would like to invest sooner than later, taking the money out of our IRAs is a good idea.

Help is appreciated!

@Scott Trench

That is some super helpful advice. I appreciate the perspective! Thanks.

@Jacob Vincent, @Derek Walvoord, @John Casmon

 Those are good words. I didn't know there was the term "house hack," but I like it. I've definitely considered the 2-flat option for the family and many people I know are going that route without a longer term perspective. It does seem to make a lot more sense.

Jacob - I live in the city-proper (Lincoln Square). What are your thoughts on trying to start out here? We'd really not like to leave and I see REI as a way to hopefully keep us in the city.

@Xavier Y.

Thanks for the encouragement and suggestion. As I'm just starting out I haven't narrowed it down, but my gut is rentals. I don't have the creative genius to rock the fix and flips.

@Paul Timmins

Those are great suggestions. Getting started!

My wife and I are currently renters. I'm just now getting into REI. I'm wondering if our first property purchased has to be our own. I see advantages to continue renting while we invest in other properties.

• Only have to take out one loan for the investment
• Renting keeps us from any personal maintenance costs we have to incur
• Investments can eventually pay for our home

I don't know much about lending rules, but I'm curious to hear from experienced folk on advice here. If you could start over and you were in my position, what would you do?

Hey all,

My name is Andrew. 33 years old. Living in Chicago on the Northside. I have a wife, one boy, and a girl on the way. I've been a lifelong renter and in recent years I've rented directly from owners of the property. I found that I always wanted to be in the position of the landlord, not the renter. Today I made the decision to jump deeper into the world of Real Estate investing and found this site and I am PUMPED to get going. 

I'm ready to get as much help as I can and once I actually start getting good at it give back in return. I'm sure many of you have been in my position now and are in that spot now where you can give. 

I look forward to connecting here in the forums and learning a ton from you all!

Hit me up!