Newbie from Chicagoland area

15 Replies

Hi,

My name is Chris Ludwig and I'm a small business owner from the Chicago area.  My wife and I have decided to build a second business in real estate investing and found the BP forums and podcast and I must say, we're totally hooked.  Learned an enormous amount from this site and the people on it so I'm happy to say that we're members now and look forward to meeting many investors and expanding our business.  We're interested in wholesaling and buy and hold for cash flow.

Welcome Chris.  I'm down the street in Aurora.  What other business do you have?

Welcome to BP Chris! I've worked with some investors in the Chicago area. Great to have you as a member.

thanks guys!

Josh, I have a wholesale liquid handling equipment distribution company; basically pumps and spray guns.

www.airfloeq.com

Welcome to BP Chris, I'm a newbie myself.  I just closed on a buy and hold property in Lansing, Illinois.  

@Chris Ludwig  

Welcome. Fill in the foundation below.

Check out the Start Here page http://www.biggerpockets.com/starthere

Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 70 past ones to catch up on.

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.

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

Couple good reads 

You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

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

Very nice!  Thanks for all that information too Paul.

Welcome @Chris Ludwig  

What area of Chicagoland are you planning to operate in?

Larry

Right now we're in the western suburbs and we're looking in this area as well as Will and Kendall counties to start.

@Chris Ludwig   welcome to BP:)

what  kind of properties are you looking to buy?

Right now we're getting our feet wet and we're looking for good wholesale deals in the three county area around Chicago; Dupage (where we live), Kendall and Will. We're mining the Probate records as well as marketing for distressed sellers.  No bites to this point.

Long term strategy is buy and hold for cash flow and appreciation.

We have not yet made our first investment purchase.  We have yet to turn a wholesale deal as well.

Interested in 3/2's and multi-family units.

Welcome Chris Ludwig from Northern NJ! I currently am a buy & hold investor and looking to expand in the nj area. Let me know if you have any questions on buy & hold strategies. 

Hi Mark!  Thanks much!  

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