Updated about 2 months ago on . Most recent reply
How Much Money Do You Need to Buy Your First Property?
Do you need a lot of money to get started in real estate? I'm considering house hacking for my first property in the Chicagoland area, but I'm not sure how much capital is typically needed. Any advice or insights?
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Aaron Zimmerman
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Aaron Zimmerman
#3 Tax, SDIRAs & Cost Segregation Contributor
Tax & Financial Services
Pro Member
#3 Tax, SDIRAs & Cost Segregation Contributor
- Accountant
- Chicago, IL
@Angel Arroyo - welcome! For a house hack (which is the most accessible way to get into an expensive market such as Chicago), you can get in for 3-5% plus closing costs. There's way to get some closing credits and time your purchase so you're getting monies for the rents.
I would encourage you to get involved in some local meetups and network with some lenders. I'm happy to provide you some lenders id recommend.
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