Updated almost 10 years ago on . Most recent reply
Newbie from Chicago
My name is Diontra aka Dede, I'm 28 yrs old and I currently live in Chicago, but looking to move to Atlanta in July 2016. I'm looking to learn about RE investing. I want to start out with wholesaling and fix and flips, gain some capital, and get into multi family rentals and commercial RE. Im seeking advice and knowledge as how to find properties, determine repair costs, ARV, ROI, and everything else that comes with RE investing. I've never done a deal before because I just don't know how or what to do first. I'm currently a makeup artist, which I love doing btw, but I'm ready to gain a financial education and begin my journey towards financial freedom and passive income. I hope to meet like minded people and build great, long lasting, business relationships/ friendships here on BP.
Most Popular Reply
Welcome to BP,
You're definitely in the right place to start with your investing career. I know, because BP is exactly where I got start years ago. I was in the same position when I got started. I lived on the south side of Chicago and began my journey months before moving back to Atlanta, so it will be really helpful being that I can tell what I would have done if i could go back.
A lot of people might recommend going out and looking for a team first, I agree to an extent, I recommend that you start by understanding the trends in the Atlanta market. Reason being, unless you have the ability to fly back and forth until your move is permanent, its best that you focus on market analysis. Understanding how to evaluate a deal is a universal skill set and soon after you can evaluate a deal pretty much anywhere in the country. Plus, what ends up happening is that its hard to build a relationship virtually.
To make the process easier I found similarities between Chicago and Atlanta to help with the learning curve. Ex: I like to think Gary,IN = is similar to Clayton county's rental market; the North side/ Lake Front= Buck Head, Brookhaven and sandy Springs; the Western Suburbs = Marietta; And the South side= Dekalb County - places like South Holland is similar to our Stone Mountain, Dolton - Lithonia...Ect