All Forum Posts by: James Kiboi

What did investors do 20, 40, or 80 years ago?

They saved up some money. They found a house they liked in a community they believed in. They bought it and held it.

No podcasts. No BiggerPockets Calculators or fancy spreadsheets. No coach, mentor, investors club, YouTube gurus, etc.

Find a property that can pay for itself (mortgage, taxes, insurance, maintenance, and enough left over to set aside and build up a reserve to cover vacancies or capital expenditures). Buy it and hang on. There may be some rough bumps in the first few years, but you'll be happy you held on and stuck it out. Along the way, learn how to be a good Landlord.

Rinse and repeat.

@James Kiboi

Hi James, I am in the same boat, I have been studying for 2 years now. THe 2 things I have got out of it, is a great sense of money, and a career as a real estate agent, I want to pull the trigger as well but I have to keep consistent first! Have you thought about OOS? It may be worth it to look OOS as well if things don't work in Chicago, or just looking at other markets in general so you know what is out there! Cincinnati may be somewhere else you want to start. I am unfamiliar with your financial situation but Greater Cincinnati (Cincinnati + Northern KY) has lower PP and landlord friendly laws. 

Just to keep your eyes open, it may not be a mad idea to see what is out there. Shoot me a message and we can get started looking in Cincinnati too. I look forward to talking!