Chicagoland newbie

[Scott Schultz]

I've been an architect for about 7 years now working primarily with developers on multifamily residential and am looking to get in on a little side action where the actual money is in the sector. I am looking to start with flips and eventually move into developing my own properties down the road. I feel I have a good design sensibility and an appetite for numbers and these can hopefully help me succeed at this! I am currently searching for my first deal and am just spending most of my time sifting through BP and listening to the BP podcasts at work trying to absorb as much as I can. I'm learning a lot and am anxious to get started! Hopefully we can work together some day!

[Mindy Jensen]

Welcome to BP, @Scott Schultz! You are in the right place to learn what you don't currently know, and to share what you do know with others. 

The Chicagoland market is so hit or miss. Make sure your first deal doesn't turn into a dud by being unfamiliar with the city or even neighborhood. You can make a LOT of money in the area, but you can also lose a lot of money there, too. 

In addition to the podcasts, blogs and forums, there are local meetups where you meet in person. I think Brie Schmidt is the coordinator for Chicago. They just had one tonight, but they are every 3rd Tuesday in Norwood Park. Those are great to check out at least once. 

[Mark Nolan]

@Scott Schultz

BP is full of useful resources such as forums and blogs. Welcome to the Bigger Pockets community-be sure to check out all the awesome BP blogs under “Learn.”

[Paul Timmins]

@Scott Schultz

Welcome. 

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers (cash buyers).

Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good Luck

Paul

[Joe Fairless]

@Scott Schultzwelcome to BP and with your design experience you'll be adding a lot of value to the community. What type of property are you going to buy and are you focused on buying in Chicago?