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All Forum Posts by: Brandon O.

Brandon O. has started 13 posts and replied 39 times.

Post: What's a good route to go for first deal?

Brandon O.Posted
  • Real Estate Investor
  • Evergreen park, IL
  • Posts 39
  • Votes 3

Greeting all BP members! my brother and I for the past 6-8 months have made a commitment to be RE investors. With my brother being a recent college grad and myself having a family and responsibilities of my own we have limited funding so it forces us to come up with creative financing. What would you all recommend to be a good route to go for our first deal, Wholesale a property, go through private investor/lenders for potential flip of a property, or going through the bank getting a FHA loan and renting out a home or two flat?

Post: 2 Bedroom houses?

Brandon O.Posted
  • Real Estate Investor
  • Evergreen park, IL
  • Posts 39
  • Votes 3

Oh ok we'll if that's the case then it's a good deal. Renting and having to potential to flip if you want is a good route, good luck! @Andrew Syrios 

Post: 2 Bedroom houses?

Brandon O.Posted
  • Real Estate Investor
  • Evergreen park, IL
  • Posts 39
  • Votes 3

Most people looking to buy a home are families therefor two bedrooms isn't sufficient enough for a family. Three bedroom at a minimum @Andrew Syrios 

Post: Question about a FHA loan on a two flat

Brandon O.Posted
  • Real Estate Investor
  • Evergreen park, IL
  • Posts 39
  • Votes 3

Wonderful thank you both for your comments. I wouldn't mind the tenants remaining there anyway because they're producing cash flow and at times it can be difficult to find quality tenants. @Brie Schmidt 

@Jim B. 

Post: Question about a FHA loan on a two flat

Brandon O.Posted
  • Real Estate Investor
  • Evergreen park, IL
  • Posts 39
  • Votes 3

Great morning and afternoon to some, I was hoping to get some guidance on this situation. I was looking for my first investment property to be a two flat and I was considering to go the FHA route for that. My question is what if the seller actually lives on a floor and is renting the other to a tenant, is that tenant required to move once the two flat is sold or can I take over the property and already have one tenant in place. I appreciate any help given, I'm also looking to invest in the Chicago land area suburban areas though.

Post: New Member Chicagoland Area

Brandon O.Posted
  • Real Estate Investor
  • Evergreen park, IL
  • Posts 39
  • Votes 3
Welcome to BP I am a new investor also in the Chicagoland area, hopefully we can connect soon! Best of luck -See You At The Top!

Post: New to the field

Brandon O.Posted
  • Real Estate Investor
  • Evergreen park, IL
  • Posts 39
  • Votes 3
Originally posted by @Paul Timmins:

@Brandon O. 

Welcome. Fill in the foundation below.

Check out the Start Here page http://www.biggerpockets.com/starthere

Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 100 past ones to catch up on.

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers.

Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook

Consider checking out HUD homes for small multi's owner occupied gets first crack.

To get deals and find out about an area go to IREM.org search for ARM certified property managers. Call 5 ask them what parts of the city they like/dislike and why. Ask them what they see expenses running per category per unit. What do they see them selling for per unit, what is the market occupancy rate. What are the market rents? Ask them if they know anything coming up for sale. Great way to pick up some good info and possibly a deal.

You can also search NARPM.org for the RMP (Residential Management Professional) and MPM (Master Property Manager) certified.

You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good Luck

Paul

Paul, I appreciate your time and assiatnce that means a lot! look to connect with you in the near future. I see you're from Boston, go pats?

Post: New to the field

Brandon O.Posted
  • Real Estate Investor
  • Evergreen park, IL
  • Posts 39
  • Votes 3
Originally posted by @Victoria Winters:

@Brandon O.  Hi Brandon. Many thanks for writing such a heartfelt and honest introduction. Welcome to BP!  You will find plenty of information on this site as well as excellent people to communicate with about real estate investing. 

If I can be of help to you, please feel free to ask. It is certainly my pleasure to to help investors with the knowledge and tools I have to offer.  This includes referring you to fellow professionals that I may know that can help you with particular expertise. 

We all look forward to the success and skills you will offer to everyone. 

 Victoria I appreciate you response and assistance! look forward to our future connections

Post: New to the field

Brandon O.Posted
  • Real Estate Investor
  • Evergreen park, IL
  • Posts 39
  • Votes 3

Happy 2015 everyone! My name is Brandon Okitipi, and I'm a "newbie" to BP as well as the field of real estate. I'm very excited to pursue this endeavor for my family and I. I'm twenty eight years old with a wife and two boys and I know real estate investing  can grant my family financial freedom and control. As of now my brother and I has decided to go into business together because we both want the same thing out of life. Our business is called The Cavanaugh Real Estate Group and we're very elated to grow our business from the ground up! Our main objective is to network with other successful investors and get to the same level as every member in this real estate fraternity.  All the guidance, encouragement, direction, mentorship we can get we openly welcome that. I currently live in Evergreen Park Illinois which is a south suburb right on the border of Chicago so anyone in the area or even out of the area let's connect, inspire, and all grow! it's plenty out here for all of us to accomplish our personal and professional goals. Thank you for taking time to read this

Sincerely,

The Cavanaugh Group

      -See You At The Top!