Hello!
I am 24 years old and I just moved to the Lakeview area in Chicago, IL.
I've recently become interested in the idea of Real Estate Investing for a few reasons. I have two friends who own rental properties and they are successful with their properties, I read Rich Dad Poor Dad twice along with Rental Property Investing and Power of Habit, I've been told by multiple people apart of the Baby Boomer and Generation X that they wish they invested in Real Estate at my age, I was a Resident Advisor at my University and I enjoyed that role so some of the skills are transferrable, and lastly this is the best time for me to take a risk. I don't have any debt and I don't have kids or much going on outside of my 9-5 career.
I NEED all of the help and support that I can get to take action and make it happen. I'm not one to take risks but I feel I am capable of becoming a Real Estate Investor as long as I do my due diligence. I'm reading up on books and articles on how to do this but sometimes it's easier to join social groups or talk to people close to me that have done it before.
Right now my goal is to get pre-approved for a loan and to learn from others. Once that has been done I'd like to purchase a property walking distance from myself so I can keep an eye on the property and because I don't have a car. I plan to manage this property myself, manage the finances, manage the tenet forms and etc all by myself so I can learn how to do everything right away when I'm first starting. My biggest fear or weaknesses will be trusting lenders, trusting Real Estate Agents, and trusting contractors. I believe I can do a good job as a Landlord once I have tenants and when I'm up and running. Hoping to accomplish this in the next 3-months.
Hoping to connect with those who have done this before! Much appreciated!
-Mitchell Petrosky
