All Forum Posts by: N'Dambi Adonis

Thank you @Jonathan Klemm ! I’m gonna check it out!!

@John Warren Thank you John! I look forward to hearing from you 

Thank you! 

@John Warren Yikes! I did not get to see your response until now but that makes total sense. Since this discussion I have expanded my horizons and am now looking to potentially break out but into other markets that are not necessarily in my back yard but I can still get to if need be, say, markets like MI, IN, OH surrounding. I’m developing my criteria and it would be awesome if we could connect and I could get your perspective on my ideals here. I’ll looking to go the syndication route for funding, perhaps you have experience with this? 

Hello,

I’m wondering if anyone here can direct me to any investor groups or apartment syndication groups in Chicago? I’m trying to network here and don’t know where to began? 

Are there any real estate developer meetings in Chicago? I would like to meet some of you guys? Who here is apart of the commercial real estate world in Chicago? Let’s connect?

I’m curious if anyone out there has purchased several single families in one year? I know that the mortgage lenders only allow you 4? Has anyone purchased multiple homes per year? Or up to 4 in one year?

@John Warren that makes total sense. Congrats to you as well! I aspire to get to that point one day :)

I would say that I would be okay managing the management at least for the first time around with a small number of multi family units. It sounds good in theory as I do want it to be a pretty passive investment. I have thought about having a insource management company of my own but that would be something that happened as I developed.

I like the sound of “managing expectations” because part of the reason I say I want to outsource is because I don’t want to get calls personally about things that are wrong in the units, maybe I’m thinking of it in the wrong way. Is this how it was in your experience?

@Matthew Terry Hello Matt!

My mentality is “the more units the more cashflow” and I’m willing to be corrected at any point as my knowledge and experience is limited. So 6 seems like a reasonable starting point that won’t be TOO much as a first time investment property. 4 or 5 will suffice just fine. I want to go in the direction that won’t be difficult to scale up from but can happen more quickly than buying 1 single family every year.

You might have an excellent point with pointing out the less difficult route by going for a 4 unit. Back to my goal of wanting to cashflow initially but having a long term goal of wealth building for the future. I appreciate your feedback!

Do you have direct experience with multi family?

@Jason Shackleton Hey Jason ! Yes I have been working while in school. The entire time actually. I have also been building on my credit for the past 3-4 years. I plan to purchase these through my LLC. I'm not entirely sure how to go about financing but when I'm done with business school

I plan to get my real estate license to potentially do some wholesaling in Chicago. I’m hoping that will also help me to get my foot on the door to build and development other plans for financing where I don’t qualify.