All Forum Posts by: Anthony Metcalf

Yea, I totally understand your point. That may end up being my play. I am working through all of my expenses now. I think between clamping down on my expenses and a possible refinance I may be able to turn this investment around. The other thing I have realized is that I think I may be currently renting it for less than the market will bear. I still have a lot to learn.

 I have this months meeting on my calender. I am going to try to make it.

Greetings to all in the Bigger Pockets community.

So after reading a couple real estate books and lurking on BP the past month or two I came to the realization that I had unintentionally become a real estate investor.

It all started 2 years ago when my girlfriend found her(our) dream house. She promptly bought it and we moved in. At this point I was stuck with the house that I owned since 2004, that we had been living in. At this point houses near mine were selling at or below what I owed on it. I reluctantly decided to rent it out until the market improves and/or the loan is paid down. Never did it occur to me that I had just made the leap from home owner to investor. Obviously, right now Im not exactly "winning" at the investing game, though I am learning quite a bit from actually being involved. The property is pretty much a break even for the moment but at least its not losing me money. Now I figure that as long as Im managing one rental property I might as well invest in a few more and maybe actually see some cashflow for my efforts.

What I hope to get from the Bigger Pockets community is a better understanding of the rental market in northern IL. Specifically Winthrop Harbor(where my current property is) and Zion. Adjacent areas such as Beach Park, Waukegan, Antioch, & Kenosha WI also interest me since they are close by.

The other thing I am still trying to sort out for myself is whether I should stay with single family homes or go straight to multi family for my next purchase. I can see plus's and minus's to either direction.