All Forum Posts by: Matthew Koczwara

Glad to have you onboard Matthew. The route you want to take to get started is an excellent one. I am currently on my second owner occupied property and doing the multiunit (4) thing.

What area are you trying to focus on? Turnkey multis are hot in chicago right now (in good neighborhoods) and its easy to overpay if you are not careful. Keep an eye on HUD and Fannie properties because owner occupants get first crack at them so they are a great way to go.

Good Luck!!

Hello Nnabuenyi,

It's great to hear from someone who has been able to put into practice a plan very similar to mine. I'm not certain this is the appropriate place to ask, but if you don't mind, what kind of long term plans/goals are you trying to achieve through real estate?

I have not yet focused on any single location. I am living at home now and will have the ability to move where I choose. That said, I would ideally be looking for investments south of Glenview, east of 355, and north of 55. I realize this is a huge area, but I have just started looking and do not want to limit myself.

Hope to hear back from you!

- Matt

0 Votes

Originally posted by @Dale Stevens:

@Matthew Koczwara

Welcome to bigger pockets. I do have to ask, why "THE" before Ohio State University? I have always and will always view that as a statement of nothing short of arrogance.

Be proud of your school, yes, but it is said in a way to belittle other schools, in my opinion.

With that said, an owner occupied multi-unit is definitely a worthy aspiration for you. I know many people that have utilized the FHA 203k Loan program that allows acquisition and renovation costs with as little as about 3.5% down I believe. That could allow you to haev your savings towards other investments giving you a larger return when you add all the investments in.

Good luck to you!

Hey Dale, thanks for responding.

I respect your opinion in regards to the "The" in The Ohio State University, but I most certainly did not say it to belittle any school or individual. The "The" was actually part of the state legislation when the university was renamed in 1878 and is commonly used when referring to Ohio State. I have found that most people will bring up the "The" by themselves when I state that I am an OSU graduate and have yet to meet someone who is genuinely insulted by it.

In regards to the FHA loan, I am trying to save aggressively enough where I would be able to put down 20% and avoid the PMI. However, I do the see the value in having liquid assets. I'd like to convert my first multiplex to a full rental unit as fast as possible and invest in additional properties. Thanks for the insight! Go BUCKS!

1 Vote

Hello BP,

My name is Matt Koczwara. I am a longtime resident of the Chicagoland area and a new member of the Bigger Pockets community. I have recently graduated from The Ohio State University and I am currently working in suburban Chicago.

I am lucky enough to have the opportunity to save aggressively straight out of college and want to use these savings to invest in a owner-occupied multiplex.

I am looking forward to engaging in the community and learning from its mentors and members. My main goal is to utilize real estate as a vehicle for financial independence.

Thanks for reading!

- Matt

2 Votes

All Forum Posts by: Matthew Koczwara

Matthew Koczwara has started 1 posts and replied 3 times.

Post: Hello from Chicago, IL!

Post: Hello from Chicago, IL!

Post: Hello from Chicago, IL!