All Forum Posts by: Landon Hoon

Hi @Shuvrajit Mukherjee - There was just a new product released to do as low as 5% downpayment on 2-4 units (owner occupied) and you can also do a renovation loan.   Consider connecting with @Landon Hoon with A&N (local to Chicago) who can lay out all those details for you!

If you decide not to go with owner-occupied...I have a couple of lenders that will do a traditional 20% down payment on investment properties with renovations.

Usually, there is a 12-month seasoning period, but sometimes as long as you have leases in place I've seen no seasoning periods..

 Please share the details on this

Hello,

I am currently a W-2 employee who is ready to start my real estate investor career. It has been a journey that includes purchasing  online courses, attending a couple  of meetups ,viewing plenty Youtube videos and reading numerous of real estate books. This has led to bouncing from bouncing strategy to strategy in my mind only . Finally , I have come to the conclusion that the strategy that is the most conducive for my lifestyle is small multifamily househacking (midterm rentals) . I am preparing to move and use a down a payment in the next 6 months to obtain my first property. With interest rates being at the all time high, I am hoping to find an off market deal or creative finance deal. I reside in Chicago and upon research it is best to  connect with like minded and experienced real estate investors. So the question is, are there any local meetups in the Chicago area or nearby cities that are newbie friendly that does not focus on sales pitching and purchasing an expensive mastermind program ? Any advice or tips are highly appreciated . Thanks!

Yes thats my issue. I'm trying to avoid having to move out before buying the multifamily

Hey Hey @Phillip Trepp - Welcome to the Chicago BP community!  You definitely came to the right place and you won't be disappointed.

Where at around Chicago are you targeting and what is your price point?  If you are interested in some renovations happy to help you out.

Some good people to connect with might be @Mark Ainley, @Landon Hoon, @Sarita Scherpereel

Hey @Landon Hoon - Will this apply to renovation loans as well or how would that work?

This is awesome news for Chicago householders and opens up a ton of doors!

I am interested in learning about airbnb’s. If there is someone out there who is very experienced, could use some help and is willing to teach me along the way about everything involved in the business I would love to connect. I am 24 years old international student from Europe, I have graduated 2 years ago, live in Chicago and just quit my exotic car delivery job and looking to enter a Real Estate.

My 10 year goal is to build a portfolio of airbnb properties in order to obtain a strong monthly income and provide an amazing experience that my potential guests would remember!!

If you have a position open that you feel could benefit both of us and are open to teaching then I am all ears!

 Not directly - but it pushes people into these loans that a private lender that has to accurately manage risk can't do (only can do them if the gov't/taxpayer subsidizes the losses).  Hard to compete with loan products that aren't economic and have other people covering the loss potential