All Forum Posts by: Naeem Barbour

@Martin Vehlow Thanks Martin for the response. I agree with doing that google search method. I've been doing that and also adding reddit to the end of the sentence. At this point, I'm even considering looking out of state at a much cheaper market that way I possibly can buy something in cash really cheap and start creating more cash flow as leverage. But IDK yet still weighing my options but definitely not trying to stay stagnate. 

Hello BiggerPockets Community,

I would like to give you a brief rundown. In July I bought my first 2-flat through FHA loan that is currently house hacking. My plan is to stay there until my year is up and move out. During the time I've been searching and found a couple of 2 flat properties that are priced rather low that need some rehabs. The method I would use was the BRRRR method. I reached out to a hard money lender that I know but unfortunately I hit a wall because I needed 20 percent in liquidity. I don't have that nor do I have a 401k, a family member to "BORROW" a lump sum of money from, or any stocks. I haven't built up that much equity on my property yet to pull from my property that I already own. Someone told me to look into a portfolio lending line of credit and a business acquisition line of credit. My question to you guys were I need help is HOW is it possible for me to keep the ball going. I see plenty of people work deal after deal and get started. How do you get started or go about finding "partners" that are willing to work with me. I've heard it all from attending real estate meetups etc. Please let me know methods you guys have done, or know about as well as any references that you have available. One thing I hate is being introduced to someone that tries to take advantage of someone that doesn't know to much. I just trying to learn and appreciate the honest help because I'm hungry.

@Lucas Hammer yea, around 30th Pulaski. How do you like it?

@Lucas Hammer closer between 30th and kostner/ Pulaski. Google crime raids its little criminal but it never really seems to be the case

Looking at a property that is nice that I want to house hack in the area of South Lawndale, Cicero Chicago. Nobody that I asks knows too much about the area. Can anyone tell me how much crime and it’s it an up and coming area. I know it should t make a difference but I am African American and want to know if gangs are going to be a big issue.

Hello BP family I am writing to get someone to point me in the right direction with resources. I was looking to get a hard money or private money lender to help finance a deal. I was looking to purchase a small house as low as 9k to 25k in cash in the Chicago south suburbs. The ideas that I had in mind was focus on areas like East Hazel crest, Markham, Chicago Heights, Harvey and also looking in the areas of like Gary.  I noticed that most of the properties are listed very low but need gut rehabs. Does anyone know any one willing to walk me through this process. Work numbers with me, help me find properties listed and unlisted, and point me to the right lenders. I was going to Utilize the brrr strategy. I already have about 5k saved up for what ever. What would you suggest. I have already got the typical "read books" educated responses that most people give. I already know about renatus. Im just ready to do this because I keep feeling like its getting pushed back.

Would it be smart to do so with a entry level job that you dont have a lot a cash coming in still? I'm scared to dig a hole and not be able to get out. @Lee Ripma