New Member: Tinley Park, IL

[Tom Ladewig]

First off love this community and glad to be a member, I have been on the site for about a month or so and have learned a ton, something new every day.  A big thanks to all the knowledgeable people who contribute.

A little about me: Recently took an early retirement from a corporate IT career.  I'm still active in the field but only as a consultant a few days a week(way less stress). I'm a fan of all the chicago sports teams(Blackhawks, *Cubs, Bears, Bulls, White Sox), Also love to golf just can't watch it. I have some limited experience rehabbing and remodeling  Currently looking to get more involved in real estate investing to occupy my time and earn some extra income.

My limited Experience: My first home was a bank owned REO that was a Fixer upper. That purchase was driven more by economics than being an investor though. I have recently purchased a property on a short sale in Florida that also was in need of work although even that one i have not been a real landlord since my daughter is living in it(she is part owner as well) and payments are set to just cover the costs of owning. So that one is more like a vacation home since i get to visit;)

My Current Plan, until I read another good thread anyways. Looking to buy SFR for BUY and HOLD using a BRRR strategy, plan A anyways. I'm going to start slow but would like to hit 10 properties over the next 4-5 years, nothing crazy.

Currently looking to network with other investors, and as always continue to learn new things.

Tom L

[Renea Steward]

@Benjamin Pekarek duly noted. I'm affiliated with several organizations and churches who are seeking vacation rentals, which I planned to rent to with sizable deposits. I will experience more vacancies initially, but it's worth it. 

I will build up clients slowly with the organization, churches, and personal referrals. It may take a few years to show the profits I desire. 

I have 2 partners for two of the vocation rentals. The rentals will be in a city that each partners chooses to have a vocation home in to off set how often it needs to be rented; a form of house hacking. One of the partners wants to live in the home nearly 6 months out of year. October 20 through April 14.

I will try avoiding having a lot of war stories of my own.

I'm developing a diverse portfolio with various forms of rentals and renting styles; as well as rent to own. 

As you stated not to hijack the original post. I will appreciate it if you would pm some of the war stories. Knowledge is power. 

                               Enjoy as you prosper.....