All Forum Posts by: Robert Posta

I am new to REI and I would love to hear the opinions on this video from some of the professionals and some of movers and shakers in the REI world that are doing several deals per month. I have no affiliation to this video. Just saw it in a chat room i was in.

I think as long as you can find good deals maybe our risk as investors is low?

If you do not want to click the link you can search on youtube the title is 

Link to video

@Mark Ainley May be able to assist or refer a local commercial broker to help out.  His company/ team might be able to give you the answer you are looking for. 

Adding myself. Also interested. 

Thanks @Crystal Smith and @Nathaniel Green for taking the time to add some input.  I added homewyse to my spreadsheet to check out later. My are is in the Chicago burbs and taxes are a bit higher in my area.  I have yet to pinpoint an area to start in.  I am still soaking up info.Multi family is starting to be very interesting.  Do you tend to look in areas with " Lower" taxes? Or do you not really care about the property tax rate as long as the rent covers your costs/cash flows?   I guess it all comes down to analyzing the deal regardless if the taxes are high. I am guessing if the deal is analyzed and it looks like a winner then go with it.  Thanks again and I am starting to build some great contacts. 

This is a great post. Very inspirational for a newbie. Thanks for spending the time to write this up.

@Dan Naumowicz Thanks for that info. I have been joining REI Facebook groups and just started searching meetup. Great info. I also started a google spreadsheet and will keep notes on all the suggestions people offer. I added the rehab depot info. Thanks again.

Hello BiggerPockets members. I am sure you all are very busy and I appreciate anyone that takes time to read and/or respond. I am literally a newbie to real estate except for the 4-5 home purchases I have done for my own personal property over the years. 

I just started reading "The book on rental property investing"  
2nd up is a book named "Rich Dad Poor Dad" .

I am a proud business owner of a 13 year old logistics company. I have always been interested in REI. I am 47 years old and at this point my goals are passive income at retirement and to get away from this desk at times.

I have some cash and home equity to use if needed to get me started.
Income/Cash flow would be nice but is not a necessity for my case until I retire in say 15 years.
I would like to build equity and shoot for some properties that need some work, fix them up and then rent them out and HOLD them. 

I have been trying to analyze properties right now and read up on REI material. It is hard to do when I have no base knowledge of what repairs/renovations cost. I guess all that comes with constant working at it. I am thinking at first maybe I should look for homes that do not need as much work. Many of these homes are very old ( 100 years old here in Chicago area ) and need a bunch of work. Old pipes, possible lead paint and asbestos issues. Not sure I should be heading down that road quite yet?

My initial thoughts are to try and find some homes that are 50 years old or less that may need updating.
First set of goals are to possibly have two rentals in the next year. Initially my goal is maybe to get 5 properties under my belt and then reassess and make a new goal. I am interested in single family, duplex, three flats. I am also looking into joining some groups and will try to attend some meetups about REI in my area.

Is it best that I stick in my own area at first?  Or should I possibly dabble with out of state properties with due diligence in finding good management / contractors out of state?

Would love to hear your suggestion on what I might tackle based on the above info ?

I am glad to have found BiggerPockets. Thanks to all that contribute. 
I hope to one day help people the same as many members are doing.