Glad you made your way here.. are you eyeing long-term rentals or short-term flips?

I’ve been in the industry for several years, and my work has given me a solid understanding of property systems, maintenance, and what makes a home a great investment.I’m now looking to expand my own real estate journey by learning how to acquire and manage short-term and long-term rental properties.

What are the next steps---BRRR seems like a good method for this- as theres potential for long term renters(near elementary and highschool)Step 1- look for a hard money loan(will they also cover construction?

A lot of private or hard money lenders won’t mind if you live in the property while you’re fixing it up, as long as you meet their terms.

I also want to hear from those of you who have transitioned out of a full time job by doing out of state investments/creative finance - how long did it take you to transition out?

The fix-up and increased value will not matter to the IRS as long as you sell within a reasonable time frame of the house passing into the estate.

I also allowed the fear of others to take me away from my long term goals.

It doesn't take long to learn how to spot a good deal.6.

This status is useful if you have long term rentals.

I've done and been a part of many Chicago zoning changes...they take a very long time and a lot of upfront money...unless you are planning to add multiple units and do a full renovation, the ROI is probably not there.