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Updated over 11 years ago on . Most recent reply

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Brie Schmidt
  • Real Estate Broker
  • Chicago, IL
5,162
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6,192
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Newbie in Chicago

Brie Schmidt
  • Real Estate Broker
  • Chicago, IL
ModeratorPosted

My name is Brie and I am a newbie here from Chicago. My husband and I started investing in RE about 2 years ago and currently own 3 buildings in the city. The two we rent out and self manage (3 flats) were purchased from flippers who bought cheap, rehabbed, and sold to us in move in condition. The third was a 2 flat being lived in as a SFH that we bought for ourselves, rehabbed, and increased the value.

We both have full time jobs outside of RE so this is a side business for us, but I am also a licensed RE broker though I only use it to do our own deals.

We are preparing to start looking again for another acquisition, though I am not seeing anything on the market that would yield the ROI we have been getting. We have had good luck in the past buying from flippers, but are starting to explore doing the flips ourselves or with a partner. I would like to network with flippers, contractors, and lenders and hope to grow our business!

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