New Investor in South Suburban Chicago

[Bernard Davis]

Greetings everyone. I've started my Series LLC and am awaiting a closing date for our first investment. It's a tenant occupied (tenant has been there for 5 years), 2br condo that is a cash deal for 30-40% under ARV(just paint and maybe new flooring is all that's needed), and will cash flow $500 per month after all expenses. Not sure yet if I want to BRRRR this eat away at the monthly cash flow.

Looking for more condo/townhome, 2 flat deals in the South Suburbs for BRRRR, and/or flip opportunities.

I'm/I've learning a lot from the BiggerPockets community and I look forward to meeting with and working with some of the area investors and professionals.

Bernard Davis Jr.

WACOD Investments LLC

[John Warren]

@Bernard Davis congrats on the new acquisition! Sounds like you are off to an amazing start. I would encourage you to always look to recycle your capital if at all possible. I am a big fan of mortgage debt as an investor since it allows you to keep your capital in your own pocket where you can put it back to work. 

Are you going to be purchasing more condos? Multi units?