All Forum Posts by: Alex Ascencio

I will be reaching out Michael. Hopefully we can get something going and chat a bit. Thanks!

Thanks Franklin. I appreciate it. Looking forward to all the info and input from everyone. Let’s keep in touch. Thanks again!

Thanks @Jamie Rose. I appreciate the encouragement. How's the RE landscape looking in Anchorage Jamie? 

Hey everyone.

I honestly believe that successful investing is team driven.

I am interested in growing my network and knowledge of investing as much as I can. Currently focusing on buy & hold rental properties and flips in the western suburbs of Chicago.

I currently live in Aurora, IL, so something local for my first investment would be great. Any

insight on the local Aurora real estate market for buy and hold and flips? 

@Victor S. thanks, I will definitely take a look at the document and see if it's an option for me. I appreciate the info!

@Elyse Moore I appreciate the feedback.  I will shoot you a PM and see if we can get together and chat a bit more and get some of your input and ideas. I need to network a little more with seasoned investors with more experience.

@Michael R. The current home I live in is under my wife's name, I am only on the title. I have no mortgages under my name as of yet, so yes, I would be able to get an FHA loan, but it would be sketchy if I am not living in the home as my primary residence. Please correct me if I am wrong by all means if that is not the case. I am looking to purchase my first investment property without having to put everything i have in it just to buy it and then have no reserves for repairs like you mentioned.

My ideal situation would be a SFH to get started and work my way to a multi-unit. I completely get what you are saying about getting an experienced partner. I appreciate the information and feedback.

Rookie in Aurora, IL (Chicago suburb) looking for my first SFH or multi-family home to buy and hold. The issue that I am running into is that I have enough funds to put down the 20% for a conventional mortgage but it will pretty much leave me with limited funds to do any repairs, or just have emergency money in general for emergencies.

I have been hesitant to buy my first investment property due to this. How do people do it? Should I just take the risk and hope my analysis and all the due diligence will pay off, or do I look for a private lender or even possibly a HML?

Unfortunately I already have a primary home, so I can't do an FHA, live in it for a year and then rent it out.

Any advice would be much appreciated.