All Forum Posts by: Matteo Foglieni

Hello all, 

I am about to begin my journey in real estate and currently looking for property in Chicago and burbs. SFH or duplex. I want to set up all the system that will allow me to succeed and create momentum.

Does anybody have suggestions on Real Estate Property Manager Software that I can use with my first property? I know Apartment.com, Turbotenant, Rentredi, Avail, and many others. 

I would need a software for listing, screening, set up a lease, manage and online payments. 

thanks

Matteo 

@Crystal Smith

would you have suggestions on upcoming Chicago suburbs that you think I should watch out? 

thanks

@John Warren thanks for the message. now is just to understand if I prefer to save and wait for a good sum for a multifamily or get into the game now with a condo. 

On the first option I was think about seller financing and other creative financing . Or 401k as you mentioned. 

@Crystal Smith that is very helpful. But. realistically, are there any property in the Chicago market built in the 90's or 2000 that need just some "cosmetic" touch up? 

@Michael K. thanks for all the info. Fortunately I am on a good position in regards to conventional 20% down-payment loans. I don't have student, car or any other types of loans beside the new condo. Therefore my DTI is below 10%

Thank you very much @Chris Winslow and  @Paul De Luca

Unfortunately FHA house hacking is not possible for me.
I bought a condo in uptown as a primary residence. As per the HOAs I will have to live there until April 2023 before renting it out. 

It may sounds funny, this condo allows me to have lower monthly expenses and being able to save more. Thats why I made this purchase in April 2021. 

Hence multifamily does't look possible. That's why I'm leaning towards SFH or condos.

Thanks again for your help

Hello,

I am 30, living in Chicago, with a W2 job (which I love), and on my way to start investing in real estate.

I have $50K saved. Currently, I am focusing on learning as much as I can on rental property via podcasts, books, forums, and blogs.

BP has been helpful on this.

I don't hear many people talking about buying condos as rental property. HOAs might be difficult to deal with but, to me, they look easier to manage as long as I find the right deal. Am I wrong?

Investing in SFH seems the right move for a newbie. Will my budget be suitable to overcome a conventional 20% down and rehabbing costs in Chicago or burbs?

I understand that getting the first couple of deals creates momentum hence I expect nothing more than a minimum cash flow or breaking even for the first year.

Thank you for the help

Matteo

Any meetup scheduled before the end of the year? 

Hello there, 

do you have any meet up scheduled on a Monday or Tuesday?

thanks 

Matteo 

@Henry Lazerow what is your opining about investing in condo? 

After 10 years of living all around the world I bought a condo in north Chicago. After 2 years the condo can be rented but I was looking to invest on others prior to 2023. 

@Jonathan Klemm this is very helpful! thanks 

Thank you Landon.