All Forum Posts by: Ankit B.

I grew up in the St. Petersburg area and currently live in Chicago.  I'm actually looking for properties in the St. Pete/Tampa area to invest long distance.  The area has grow rapidly since I left in 2006 and continues to see interest from primary residence purchasers and investors.  The downtown area growth has been incredible and continues to remain robust.  Definitely a great area to continue to explore.  It's really competitive right now (as is the case in many parts of the country), but I'm sure there are hidden gems to be found.

@Anthony White Congratulations!  That is great to hear.  Bigger Pockets has provided a wealth of information and I have seen benefit thousands of people on this site.  Glad to see you were able to get creative with your financing techniques to finance your properties so quickly.

Thanks @Maria C Quimpo! It would be great to connect some time and hear about your experiences thus far. I'm looking to meet others in the industry as well.

@Scot Howat thank you!

@Johnathan Lomax Welcome to BP!  There is a LOT of great information on this site to help answer most of you questions.  In your free time, I highly recommend you explore this site in detail and absorb as much information as you can.  Also, you should check out the podcasts.  I think they are the best in terms of informing beginners and can be helpful as you create a strategy to get started.

Coincidently, I was in Danville last weekend over Labor Day weekend visiting my uncle. He's lived there for over 30 years and has no intention of leaving any time soon.  Naturally, I brought up the topic of real estate and how the market is in the area.  Now I'm no pro in real estate, but I take what my uncle has to say pretty seriously because he knows that place like the back of his hand.

Danville is a very small town that used to have a decent number of "manufacturing and industrial type jobs".  Over the last 10-20 years, those jobs have disappeared and as a result many people have been moving out of the city.  Consequently, businesses are being impacted and home values have been flat or declining.  Home values are very affordable in the area, but you have to think about why that may be.  The real estate market is hot in most parts of the country right now, which means there is limited inventory.  Danville seems to be in a different situation, so there is a lot of inventory.  When I was riding around with my uncle to check out the town, I saw for sale signs everywhere.

I don't say any of this to discourage you from moving forward with the opportunities you've identified because I'm sure there are other more experienced members here that could find the positive provide a strategy for you to work with.  I'm just saying you should be very cautious and definitely do your research in the area.  Understand why the market is the way it is make sure you have an exit strategy.  The last thing you want is to be stuck with a bunch of cheap homes that you can't sell and might not be able to rent.

I hope this was a little helpful at least.  If you see something that I didn't, definitely let me know.  I live in Chicago so I'm not very familiar with that area.  I just made my own assertions based on what I physically saw and the conversations that I had.  

Wishing you the best!

-Ankit Bavishi

@Cal Rohrman - I've been looking at buy and hold properties in the Milwaukee area recently.  I've seen quite a few deals on craigslist which seem to yield 20%+ on cash invested.  You should definitely check it out.

Have you reached out to any real estate agents in the area?  I'm not very familiar with the area so am I'm in the process of looking for a reliable agent.

@Antoine Martel I'm interested single family and multifamily homes.  Looking to buy and hold to generate passive income to start.  Happy to chat further.  It would be great to hear about your past experiences and what you're looking to do going forward.

@Dhru Das Thanks! Appreciate the input.  Any areas in North Chicago you recommend?

@Ian Walsh Thanks, Ian!

@Shawn Ackerman Thanks! Looking forward to tapping into that market.

@Dmitriy Fomichenko Thank you!  Excited to be here.

Hi Everyone,

I've been registered on BiggerPockets for a few months now, but haven't really had a chance to get active.  I'm looking to purchase buy, hold and rent single family and multi-family properties in the Chicagoland (IL) and Milwaukee (WI) areas.  My first property was my primary residence in Chicago, and I'm hoping to make another purchase by the end of the year.  I've been searching for a few months now, but have not had much luck in this market.  Bidding wars are routine and it seems like the good deals come and go within days.

I'm looking for a couple of things:

1.  Suggestions on how a new investor can start marketing for exposure to deals and contacts?

2.  Networking in Chicago - where/how did you find a reliable contractor/handyman/other key players?  I'm also interested in meeting experienced investors that would be interested in working together on future investments.

A little about myself:

I moved from Florida to Chicago about 7 years ago and currently work in Finance at an investment bank downtown.  I recently received my Illinois Real Estate License and am sponsored by a local brokerage.  I've had a passion for real estate for quite some time now and am itching to get a deal done this year.  Given that this is my first investment property (outside of my primary residence), I'm looking to start small to get some experience with the process and taking on the role of landlord.  I hope to become more aggressive after that.

Looking forward to meeting you all and appreciate the feedback in advance.

Best,

Ankit