Updated about 11 years ago on . Most recent reply
Getting that first property - Chicago
Hey forum,
I've got a question for Chicago area investors. I'm looking to get into my first investment, but have bounced around ideas from SFR to multi-family to lastly looking into flipping condos if possible because there's little capital to start with.
20k doesn't go as far in the area as is does in other more rural places, but for those of you that plan to invest here or have had success, what might be some of your suggestions for 20k? Or is this still a pipe dream at this point? I no longer want to pay rent. I need my money to make money. Any thoughts are greatly appreciated.
Most Popular Reply
@Kevin K
As @Brie Schmidt said you can try and go with the down payment on a place but if you have difficulties with DTI and little money why not look to partner with someone who has what you don't. Put in all the sweat equity and get a piece of a property.
If you don't have time to use sweat equity, then it might not be the right time to start your investing career.