All Forum Posts by: Kevin Masterson

Thanks for your insights @John Warren. Were there certain more east (closer to Chicago downtown) towns that you would recommend for finding 2-4 units? We likely would not go more West then Wheaton but could be open to moving our search eastward.

@Jonathan Klemm I am currently living in Indianapolis but would hope to move to IL sometime May-August range 2022. I am renting an apartment in Indianapolis so I'll have flexibility of exactly when my move out needs to be.

New to Biggerpockets but have been reading multiple books and much of the podcast. Looking to buy duplex/triplex/fourplex in Illinois, mainly looking at western suburbs near Woodridge, Lombard, Lisle areas and do a house hack. This will be my first real estate investment. I have a good job and am a saver so have some decent capital built up. Any recommendations for good real estate agents, property managers, or other real estate investors who know that area? Mentorship would be great as well. Appreciate any guidance from this wonderful BP community as I try to build my network. 

Thanks Aiden. Yes the class I took asserts that vetting the sponsor is the most critical part of any deal. Of course, you still need to run the numbers but if the sponsor passes the vetting then will increase your chance of other financial details being appropriate. Verifying alignment of interest with the sponsor is also key.

Real estate funds can be a bit interesting since properties are not often obtained at the same time so how early/late a person invests in the fund may greatly change how much information is available about the spread of properties in the fund (if very early then they may only have a few of the eventual final properties). Offers certainly more diversifiction than a real estate syndication although assessing a syndication feels easier to wrap my head around.

I recently discovered real estate as a fun topic to learn about and am enjoying learning as much as I can. I have given myself a learning deadline in 2 months so I make sure I eventually act. Multifamily properties and industrial have seemed the most interesting so far but I hope to Brandon's "How to Invest in Real Estate: The Ultimate Beginner's Guide" this week as well as complete Passive Income MD's Passive Real Estate Academy next week (mainly about syndications and real estate funds). I have a few more books in mind (Cash Flow Quadrant, Multifamily Millionaire Volume 1-2, perhaps Vivid Vision, perhaps Industrial Intelligence). Excited to gain a bit more focus after reading more in-depth literature.

Best of luck to everyone here in their efforts!