All Forum Posts by: Josh Mitchell

@Damian Cardenas Learn all you can about the real estate industry. Being 18, I am sure that almost all of us wish we could of started learning the ins and outs then. Right now, you may not have the ability to do a deal but you can learn terminology, lending practices, how to analyze deals, etc. so when the time comes, you are MILES ahead of anyone of your peers who are just starting the process. You could also try and hook up with some investors and figure out ways to provide value to them and get that "hands on" experience. Good luck!!!

@Michael McCabe happy to chat and answer any questions you have about the burbs! Let me know how I can help

@Mike K. Happy to help! I live and invest in Naperville and have for the last 8+ years. Let me know how I can help in your search. 

@Scott Kolsto not sure if @Mark Ainley goes out that far, but if he does, use them!! I am sure he will probably have a referral for someone if not.

@Anthony Gaita an FHA loan will require you to live in the property for a minimum of 1 year. (I wouldn't risk it and think "will they even know") Also, if you already have a primary home, this could throw up some red flags and a lender will probably tell you that they cannot do this because of these factors.

@Isaac Lane welcome to BP! I am an investor and resident of Naperville as well. LOVE the area. Let me know how I can help you in your journey!!

@Blaine Kosek I would tend to lean the SFH in the areas you are talking about. In Dekalb, the rents will be lower as you eluded to, or you may be renting to students at NIU which could incur more expensive YOY. As you probably know, the SFH homes in the area are very strong and you should never have any long term vacancies or problems when you go to resell. Neither sounds like a bad option, just my $.02

@Misael Carlos Vera I don't have any specific podcasts to point you towards, but have a few things to learn. One, financing will be different for raw land. Typically, more down and/or shorter terms. (i.e. a bank most likely won't give you a 30 year term on the land) Two, make sure to check utilities. Does it have water lines? Gas? Electricity? All of these things can be very expensive to have done on a raw piece of land. Three, learn commercial financing/construction loans. You can probably bundle the lot purchase with the build purchase in order to make things happen. This option would probably be available to you if you plan to build your personal home, but depending on experience, may not be able to get anything for new development. 

@Bryan Malonga I am in Naperville! Great area but not the easiest to invest in. As you eluded to, Bolingbrook/Aurora will probably get better returns/more opportunities! I actually work with several individuals from the Boston area, so if I can help with anything, let me know!! 

@Sean Gimpert would love to connect! I am in Naperville as well as invest here! Congrats on your purchase!