Updated about 10 years ago on . Most recent reply
So I have a Team. What should we invest in?
I have a team of 4-5 people that could put together a sum of about $50,000 to invest without loans. (leveraged we could possibly do 150,000). I am young and have never done any sort of real estate investing deal before. Some in my group are more experienced, but I have brought together the team of people, so i want to gain knowledge of my own to stear us in the right direction.
There are many ways we could spend that money. We all live in the Chicago area, within a 5 mile radius of downtown Chicago. Our property could be outside of the city or in a suburb. I do not want to do a fix and flip as i believe it's too risky. I want something that is a little more stable and lower reward. Something to build a good base on.
Any advice is appreciated
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James great to meet you and welcome! I think a good start is to define property type and then unit number. Location would be next. If you have these things in mind you won't be as swayed when you start looking at properties. There's a lot in Chicago in good and bad areas so it's important to know what you want as a group and the profit margin you hope to hit. Most likely you will be looking at suburban homes and that can be daunting if you choose to rent. The up side is getting a few of them together if you decide thats the strategy you want to go with.