All Forum Posts by: Syed Lateef

I will be attending as well

@Brie Schmidt

That is very interesting. Thanks for the input

@Brie Schmidt,

I have read on a few posts that multi units of 2 units never cash flow in Chicago. Can you expand on that? 

For a buy and hold investor that wants to receive cash flow should look for more units in a multi unit property? How many units do you recommend the least amount you should look for.

Investors that are buying 2 units in LP and other area's they are just banking on appreciation of the property?

It was a pleasure meeting you folks today at the networking event.

Please keep in touch for any investment properties, i am very interested.

Looking forward to the next meeting in December

@James Syed

I am looking for Multifamily. I will be getting bank financing.

Let me know if i can view some listings

Thanks

Thanks for the advice everyone. Ill check out the information that was sent my way. I appreciate it.

All,

I have been spending a lot of time lately on biggerpockets forums/podcasts lately. I believe i am ready to get my feet wet and start investing in Real Estate. I live in Chicago (northside)

Few comments:

1. I understand calculating ROI (my background is finance from DePaul)

2. I have about $50K cash in my savings 

3. i have friends that are willing to pool money together for a real estate property as long it is a good deal

My issue: Now  finding a property or a good deal. What is the best way to start? Can you guys recommend any real estate agents in Chicago that is investment savvy that can help me get my first deal?

@Joel Owens 

I made some movement regarding my project. We decided to make 4 storefronts. Simple commercial building.

So far we hired an Architect and a Leasing agent 

I already spoke to the Alderman in my ward and shes inline with our plans to create the commercial building. I also spoke to the bank. They have are wanting a estimated budget on the cost of the construction. 

My next step is to get highlevel bids/estimates from general contractors. The bank wants to know how much estimated cost it will be to build the building.

Do you guys know/recommend any general contractors that specialize in commercial properties in chicago? I was thinking of contacting the big firms and go from there (Walsh, Turner, Clayco) i feel like im too small of a project for them to take us on. 

Let me know your thoughts. 

Thanks,

Syed

@Joel Owens 

Thanks for your response. I contacted 2 commercial leasing agents and spoke to them. I want to talk to about 2 more before I make a decision who I want to represent me in front of these Corporate Clients.

I will keep you posted.

@Joel Owens 

Thanks for your response.

I would like to present the best presentation possible to those national clients. Therefore I would like the help of a real estate agent that's familiar with the process who can help me lock in these type of clients.

Are you aware of any in the Chicago land area that you can refer me to?

Thanks