New to BP. Looking to Connect in Northwest Suburbs of Chicago

[Patryk Ziegler]

Hi BP community! 

My name is Patryk, and I’m excited to be here. I recently joined BiggerPockets and I’m already grateful for all the knowledge, resources, and like-minded people this platform brings together.

I’m based in the Northwest suburbs of Chicago and looking to connect with local investors as I take my first steps into real estate investing. While I’m still in the early stages, I’ve been soaking up as much as I can, reading books, attending meetups, and binge-listening to podcasts.

Right now, I’m at a crossroads.

I’ve been seriously considering two approaches to get started:

• Fix & Flip: The upside of a larger payout is attractive, but I know the risks are higher, especially for a first-timer. I’ve been keeping an eye on local county auctions, and while the deals seem promising, I’m hesitant about making my first purchase in cash without ever walking the property.

  The upside of a larger payout is definitely appealing, and I'd love to build up capital quickly through a successful flip. But let's be real, finding a good flip deal on the MLS is tough these days. There's heavy competition, prices are tight, and most properties are either overbid or don't leave enough margin after rehab.

  I’ve been watching local county auctions too, and while some of the numbers look promising, the idea of buying my very first flip with cash, without walking the property or inspecting the condition makes me nervous. I’m not sure it’s the best move for a first-timer.

  STR Arbitrage (Short-Term Rental): This feels like a lower-risk entry point. The returns may be more modest, but I like the idea of consistent, predictable cash flow and the ability to scale quickly with less capital.

I do have some assets available to invest, and ideally, I’d like to use that capital to build momentum—whether through a flip or cash-flowing STRs.

I'm hoping to hear from investors who've stood at the same fork in the road. How did you decide which strategy to pursue first? Any tips on flipping in the Chicagoland area or building STR arbitrage systems?

I’d love to link up with other investors in the Northwest suburbs—whether you’re flipping, managing STRs, or working on something creative.

Thanks in advance for your insight, and I’m looking forward to learning from and contributing to this awesome community!

—Patryk

[Patryk Ziegler]

@Sarita Scherpereel Thank you. I will check those events and meetups. I appreciate it. 

@Micah White thank you.

@Aaron Zimmerman good deal. Thank you. 

@Jonathan Klemm Hey! Great to connect and thanks for the warm welcome! I’m based in Palatine—so Elgin is definitely not far at all. Small world!

I actually already own a single-family home and don’t see myself moving into a multi-unit anytime soon—I’ve gotten a bit too used to not having neighbors above or below me  That said, I’m definitely interested in growing my investment portfolio.

I work as a mortgage lender, so I’m very familiar with renovation loan products like 203k and HomeStyle. I agree with you—STRs and flips can be heavy lifts, especially when starting out. That’s exactly why I’m looking to connect with experienced local investors who’ve done flips before. I'd love to learn from someone who's been in the trenches and is willing to share some real-world insights.

If you know anyone in the area who might be open to connecting, I’d really appreciate the intro!