Quote from @Paul De Luca:
Quote from @Elmurat Bavlankulov:
Quote from @Paul De Luca:
Quote from @Elmurat Bavlankulov:
Hello BP.
My name is El. I am an IT professional wanting to start investing in real estate.
I am based in Chicagoland.
What's your investment strategy and buy box? Feel free to PM me and I will add you to our team's deal mailing list and can provide referrals for lenders, contractors, etc.
hey Paul, I am just starting to explore. But ultimately I want passive income from rentals and leave my 9-5.
So I guess that strategy is called Buy & Hold. Initially, I want to buy a little condo and rent it out, to start cash flowing.
It can be challenging to get condos to cash flow in my experience. Plus you have to deal with HOA restrictions, possible special assessments, etc. It depends on how much capital you have but I recommend either house hacking (3.5% - 5% down) a 2-4 unit property or you'll need 20-25% down for a non-owner occupant purchase which comes with higher rates.
I would say house hacking is not an option for me, because I have a family with 2 kids (need good schools). We live in a suburb, no duplexes/triplexes here, only SFH, THs, and condos.
