New Investor Ambitions - Northwest Indiana and Chicago

New Investor Ambitions - Northwest Indiana and Chicago

Flipper/Rehabber · Tampa, FL · Member since 2016 · 111 posts · 38 votes

Hey BP Community,

I've been a member on here for a little while and I'm finally able to get things moving on the investment side of things in my life. I'm graduating college in May, start a job in Chicago in May, which means I'll finally have the capital I need to begin my investment portfolio. I'm now looking for a mentor, but this could be a situation that could benefit the both of us. I'm looking for someone who knows the money side of things. 

What I can offer: I'm graduating as an architect with a minor in sustainability which means I have tons of knowledge of buildings, construction, and even some MEP skills. I've been doing construction since I was 12 years old (thanks to my carpenter of a dad) and I know the ins and the outs of a building. I have the tech and the know-how to make floor plans. I've even done some floor plans for interior build-outs. I work for a multi-billion-dollar general contractor in Chicago which means I have access to structural engineers, building estimators, subcontractors, and basically everything else you need to build something. I bring a lot of value to the table and now I'm just looking for someone to show me the ropes of financing, accounting, and possibly property management.

I'd love to start flipping houses with someone or a group of people so that I can get the capital I need to get into the buy-and-hold game. If there is anyone in the area of Hobart, Valparaiso, Crown Point, Merrillville, or even Chicago willing to let me "piggyback" on one of there deals I could offer some value in the construction part of things. 

Hope this message reaches you well,

Kindest Regards,

Ryan

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Property Manager · Griffith, IN · Member since 2015 · 1k+ posts · 913 votes
9y

Hi Ryan- welcome to BP. You should check out the investment group held by Invest NWI. It's on the 3rd Monday of each month at their office in Highland. Great place to meet and network with local investors. 

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  • Ocoee, FL · Member since 2016 · 15 posts · 4 votes
    9y
    I'm a new investor in Chicago as well with construction background. I wish I could help right now however, I will sure keep you in mind if and when I can help. I'm rooting for you.
  • Property Manager · Griffith, IN · Member since 2015 · 1k+ posts · 913 votes
    9y

    Hi Ryan- welcome to BP. You should check out the investment group held by Invest NWI. It's on the 3rd Monday of each month at their office in Highland. Great place to meet and network with local investors. 

  • Real Estate Agent · Chicago, IL · Member since 2016 · 176 posts · 73 votes
    9y
    Hey Ryan Johnston I'm in the Chicago market. Welcome to BiggerPockets :) let me know if there's anything I can do to help
  • Mike B.Pro Member
    Developer · Chicago, IL · Member since 2013 · 440 posts · 360 votes
    9y

    Hi Ryan,  Welcome to BP. I have a couple projects going on right now and wouldn't mind if you want to shadow me. Let me know how I can help.

  • Investor · Chicago, IL · Member since 2016 · 515 posts · 247 votes
    9y

    Welcome Ryan. I am an investor in Chicago. In regards to flipping houses to fund buy and hold investments, I'd look into the BRRRR method. It is the best of both worlds in terms of the quick return of capital that you get with flipping along with the long term appreciation of buy and hold.

    Let me know if you have any questions about the north side of the city, I pay pretty close attention to whats happening in various neighborhoods.  

  • Real Estate Agent · Chicago, IL · Member since 2016 · 283 posts · 71 votes
    9y

    @Ryan Johnston welcome man! Best of luck flipping houses is a great way to get started to build capital!

  • Flipper/Rehabber · Tampa, FL · Member since 2016 · 111 posts · 38 votes
    9y

    Wow, now that's a great response! I wasnt expecting all of this to be honest. Thank you BP Community. 

    @Adrien C. I'll have to come by that office. I just took a look at their website and it looks like they have a bunch of interesting and helpful meetups. Putting it in my calendar!

    @Jaclyn McClellan I'm curious to know what you do in the Chicago Market. What type of investing are you interested in or best at?

    @Mike B. What type of projects are you currently working on? My time around the area is limited (especially because of the holidays) so I might have to make the trip from school to come shadow you for a weekend or something.

    @Jeff Burdick I've definitely looked into the BRRRR method and I love it. As of right now I'm just skeptical of my ability to analyze properties for buy-and-hold as well as flipping. Rules of thumb can only get you so far. What neighborhoods are you currently watching? I've been watching a lot of the neighborhoods around Chicago as well and everything seems to be in a sellers market currently, but that also may be because I dont know what Im looking for exactly.

    Once again, thank you guys so much for helping me out! I'm really excited about the response I have gotten! BP Community is awesome!

  • Real Estate Agent · Chicago, IL · Member since 2016 · 176 posts · 73 votes
    9y

    @Ryan Johnston we (my team and I - Barracuda Homes) currently focus on fix and flip, but we also intend to do more buy and hold as well. 

  • Investor · Chicago, IL · Member since 2016 · 515 posts · 247 votes
    9y
    Originally posted by @Ryan Johnston:

    Wow, now that's a great response! I wasnt expecting all of this to be honest. Thank you BP Community. 

    @Adrien C. I'll have to come by that office. I just took a look at their website and it looks like they have a bunch of interesting and helpful meetups. Putting it in my calendar!

    @Jaclyn McClellan I'm curious to know what you do in the Chicago Market. What type of investing are you interested in or best at?

    @Mike B. What type of projects are you currently working on? My time around the area is limited (especially because of the holidays) so I might have to make the trip from school to come shadow you for a weekend or something.

    @Jeff Burdick I've definitely looked into the BRRRR method and I love it. As of right now I'm just skeptical of my ability to analyze properties for buy-and-hold as well as flipping. Rules of thumb can only get you so far. What neighborhoods are you currently watching? I've been watching a lot of the neighborhoods around Chicago as well and everything seems to be in a sellers market currently, but that also may be because I dont know what Im looking for exactly.

    Once again, thank you guys so much for helping me out! I'm really excited about the response I have gotten! BP Community is awesome!

     I watch the entire northeast side of the city.  From the Loop through Edgewater and over to Avondale and Irving Park are the areas I follow closest.  

    I agree that there is a lot out there that's overpriced.  But if you dig deep and have some vision, you can still find deals. I closed on a property on Thursday that I think is going to be a great investment for me.  

  • Real Estate Agent · Chicago, IL · Member since 2016 · 176 posts · 73 votes
    9y

    Agree with @Jeff Burdick... we focus primarily northside - irving park, edgewater, jefferson park.

  • Flipper/Rehabber · Tampa, FL · Member since 2016 · 111 posts · 38 votes
    9y

    @Jaclyn McClellan That's great! Do you have any projects in the works as of right now? Or some case studies that I could look at? I don't want to get into your personal stuff so I understand if it's not available. Thank you so much for your responses by the way!

    @Jeff Burdick I'll have to take a look for foreclosures and "creative" property over there. Thanks Jeff!

    @Account Closed are you referring to a 203k loan when you say rehab loan? and I am definitely looking to avoid partnerships in the beginning. I dont want to venture into that until I'm tackling my 50+ unit apartment complexes 

  • Real Estate Agent · Chicago, IL · Member since 2016 · 176 posts · 73 votes
    9y

    @Ryan Johnston we don't necessarily have "case studies" right now - but we had talked about putting one together actually the first week of January just for practice. I will talk to the team and make sure they're okay with it, but I can definitely pass it along to you. 

  • Lemont, IL · Member since 2014 · 9 posts · 5 votes
    9y

    I'm in a similar position as you! Graduated last June and building up the capital to start investing.

    I have a background in accounting, soon to be CPA (passed the exams, just waiting for the 1 year requirement to add the letters to my name). Would love to keep in touch and hold each other accountable towards reaching our goals!

    Best,

    Nick

  • Flipper/Rehabber · Tampa, FL · Member since 2016 · 111 posts · 38 votes
    9y

    @Account Closed I think we could work something out so that we can not only make each other accountable, but work on our teams as well. Like I said in the post, I have lots of construction experience and connections within the construction industry, but on the other hand I have little experience on the business side of things (even though I've been reading a book a week for about a year now). But I sent you a colleague request so we can keep in touch! Best of luck! 

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