All Forum Posts by: Eudith Vacio

Hey @Dahtanun Combest - these are definitely questions we all struggle with starting out, and the reality is that every contractor works a little differently. I’d highly recommend reaching out to a few and having them walk through some properties with you, or even visiting their current job sites to get a sense of the work they’re doing and what they charge. Over time, you’ll start to get a feel for costs and the scope of different types of projects. I’ve found my go-to contractors for various jobs, but it definitely took time and effort to build those relationships and understand what to expect. Keep at it—experience really is the best teacher in this part of the game!

Hey @Anthony Stahurski

Congrats on taking action after attending the webinar—you're already ahead of most!

Here are some tips I wish I had known before buying my first property, especially when considering leveraging your VA loan benefits. It's an incredible tool for building wealth, especially if you're house hacking or buying a multifamily property to rent out units while living in one.

#1 Ensure you have an emergency fund

#2 Househack!'

#3 Always analyze the deals 

Best of luck on your journey—you've got this! 

Hey 👋🏽 @Jamal Mohammed

Welcome to BiggerPockets! Where are your investments at in Illinois? And happy to meet another realtor investing in real estate! 😃

Hey @Kyle Barazowski - nice to meet you!

I am with eXp realty as a real estate agent + investor. It might be helpful to join a team to get you started or join a coach to help you in your real estate agent journey. I also started off with a condo as my first investment and then went on to do more deals. Happy to connect to get a better idea of what you're looking to do!

Hey @Bem Mandel -

The fact that you’re receiving section 8 income is a huge plus! Investors love properties with stable, guaranteed rents, and Section 8 provides just that—timely payments, reliable cash flow, and often higher-than-average market rents in the area.

There's a 15-unit building listed now for 1.4M that was recently rehabbed on 108th & Prairie. Where is your property located?

Thanks for the shout - out @Jonathan Klemm 😃 I appreciate it . 

@Joseph Turano - Jonathan is a 203k General Contractor, someone that you can link up with and can you walk through some of his current and past rehabs. Definitely ask the contractors if they have any current jobsites that you can visit. I never soley rely on photos, I want to view the properties that they are currently rehabbing & get some references because there are really bad contractors out there. It is SO easy to get your GC license in Chicago so definitely do your due diligence. Always keep in mind that you can change contractors even after you close on the property so you are not tied to anyone! best of luck, keep us updated!

Hey @Joscelyn Johnson 👋🏽

Welcome to the awesome BP community & I'm sure you will meet other like-minded individuals here. I'm a real estate agent / investor in both Chicago & Northwest Indiana (East Chicago / Gary / Hammond) and both areas are really great places to invest. Just keep in mind that Chicago is a tenant friendly state & Indiana is a landlord friendly state. 

I wish you the best of luck in your journey!

Hey @Asim Purses 👋🏽

Most house hackers will live in the basement + rent out the other units to maximize their return. You can also rent it out like everyone on here mentioned, but it is risky if you rent because the tenant can call the city on you and you would have to de-convert the unit + possibly pay the tenants back rent for the time that they lived there OR you can airBnB the unit - probably the best way IMO. Let's us know what you end up doing! options are there but you just have to weigh your options! 

Hey @Liz Cole 👋🏽

You should definitely consider an FHA 2023k loan, probably one of the best decisions I made. Lenders / other realtors advised against it, but honestly I think it was due to a lack of knowledge and understanding. This loan give you the opportunity to take advantage of cash from the bank + build up equity. Even if you wanted to do a small rehab, its worth the time and effort!

Hey @Aahil B. 👋🏽

I love the ambition to scale to the next level and branch into flips. You can tap into your equity through a HELOC and purchase another property and either BRRRR it or flip it depending on what makes sense. A full gut rehab is a lot of work if you don't have the time for it, it can become stressful. Even if you hire a GC, you still need to manage the GC and make sure they are doing what they're suppose to be doing.

I am always in favor of finding mentorship or paying to get more knowledge through a program (at a reasonable price) but there are plenty of free programs here on BP that you might want to explore before paying for mentorship. It sounds like that's what your leaning towards, so I would listen to your intuition and just go for it!