All Forum Posts by: Sam Patel

I'm near Chicago suburbs (DuPage county) and I'm looking to rehab a potential property. For what type of work when dealing with contractors in Illinois require licensing (e.g. electric, HVAC etc...)? Do you need a license for basic dry wall installation, flooring installation, install door and so on? I'm thinking no, but I wanted to confirm.

If a contractor says they are licensed, how do I check they are? Thanks for the feedback in advance.

@Jodi Taylor Thanks and same to you. Happy to connect in the future to exchange ideas. Best of luck in your journey as well.

@Mark Ainley Yes, I’ll reach out to connect with you soon. Happy to hear your thoughts based on your experience in the Chicago / surrounding suburbs.

@Jonathan Klemm Thanks for reaching out. I’ll message you shortly.

@Aigo Pyles Thanks for reaching out. I’m not looking outside Chicagoland area for now. I’ll keep you in mind for future.

Thank @Brian Geiger. That’s kind of where I’m landing as well that better sit out for now. There’s no need to force the investment if it seems likely that market overall will be going down. Thanks for sharing your thoughts. 

Happy Friday and long Labor day weekend to all! I'm new to RE investing in Chicago's Northwest suburbs. Looking to learn and invest first few properties near where I live before considering out of state investments. Planning to invest in BRRR and hold-and-buy rentals in ideally 2-4 units or SFH. Look forward to networking with like-minded investors and partners in the journey.

It seems that the market in Chicago and Suburbs are quite hot! I'm hearing multiple offers for properties, even if the COC and monthly profit is not worth pursuing, at least in my opinion. For those investing in Chicagoland or suburbs, is this still a good time to invest? There's news that due to budget shortfall property tax increases are on the table, some folks are saying market will go down soon, etc... Is this the right time to invest or wait for it in early 2021 or mid-2021? I'm ideally looking at 2-4 units, but open to SFH if COC and monthly profit numbers make sense in a good neighborhood. I'm new to investing so may be not a bad idea to get more education and team in place before pursuing further. Thanks for your thoughts in advance.