All Forum Posts by: John Liapis

@Al Canaveral Thank you, I'd rather start now than later on in life. I understand these things can scale exponentially.

@Bob Tierney I will take you up on that offer, but after the holidays. I'll also send you a colleague request.

@Mark Nolan Thanks for the kind words, I've BP to be a plethora of information.

@Mark Ainley Honestly, I left Elgin because I couldn't stand it there. I'd rather somewhere else. But I will excuse it from my market search.

@Federico Gutierrez That's what I was planning to do; buy a 4 plex (4 flat for us Chicagoans) and rent out the others while I save up more money. 

@Carrie Hiner Multi-family seems more lucrative than SFR, mainly b/c utilities won't be as bad. I remember paying Nicor (the natural gas company) some months over $300 just to heat the house. I like MF since the heat can transfer through the entire building and that saves money. (It seems to work in the apartment I'm in now.)

@Chris Davis I'm always open to meeting others, send me a PM.

Hello BP,

my name is Giannis (pronounced Yanni), and I've been a long time lurker of BP. I had the RE itch since I was young and I am looking to get started.

My home market is Chicago. I currently live in a suburb of Chicago and I've been reading the blogs and books here on BP, so I have a good understanding of what to look for like cap rate, NOI, ROI. Cashflow and so on.

Right now, I'm in a bit of a bind. I only have 3K saved up. (A small amount, I know). By mid year 2016, I should have 12K saved up to put down on a buy and hold investment.

My longterm goal is to have 8-10 MF buildings producing over 20K in gross rent over the next 5 years.

I've also been reading info by @Brie Schmidt, and the news I read is great. Not sure that I want to invest in Milwaukee. (Not looking to invest out of state, yet.)

I know that I am in the beginning stages of my career, both in RE and my job. But, I am looking to started now that I am 24 instead of when I am in my 40s.

Thank you!

Anyone?

Anyone know any wholesale friendly title companies in Chicago?

Thanks.

Hello all,

I decided to start a new thread to keep a record of my thoughts, actions, and goals. I initially got started back in march when I came back from Greece. I was over there for eight months and started my venture into real estate.

I initially got started with Sean Terry's Flip2Freedom Academy. I went in it with hesitation and I am glad I did. He doesn't teach what specific areas to target, how to negotiate with a seller, how to structure deals. Only that you can make a boatload of money, doing wholesaling. I don’t doubt that it’s possible, but he makes it sound like you can make over 100k a month in short order.

Right now, I’ve been slowly listening to the podcasts. Specifically the ones dealing with wholesaling and marketing. I’m itching to get started.

I have been slacking off a bit lately, and I felt I needed to change my routine to get myself back on track. I plan to update this thread once every two weeks with progress updates and goals.

So my plan right now; is to save money until February to do marketing. I don’t have unlimited funds, I work a full time job and the winters here in Chicago are brutal. When that time arrives, I will start my marketing. I’ll be buying a list from listsource targeting absentee owners, hitting 1000 homeowners at once. And I plan to hit them at least 3 times.

I’ll also sign up for a live answering system such as patlive. I believe that will bring more deals as I know people are more willing to talk to someone who will answer the phone straight away.

@Troy Lilly Welcome, this place is great! Make sure you listen to the podcasts, they give more info than Gurus can and its free. 

Hope to see you in the market soon.

@Franklin Romine My thoughts on screening is for me to tell them right off the bat that I am an investor and not a realtor. If they're looking for top dollar, they should list with a realtor instead. Granted, there are people that are desperate, but I think it'd be best to tell them that and see whether they are interested. 

On one hand I feel that it's a bit TMI. On the other though, it may allow me to weed out the unmotivated even further.

@Kurt Naletko Thanks, I'm still going through all the podcasts. At least the pertinent ones.