New in Chicago, Architect turned investor (maybe in Bronzeville)

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New in Chicago, Architect turned investor (maybe in Bronzeville)

Brian H.
Architect · Chicago, IL · Member since 2017 · 53 posts · 17 votes

Hi everyone, 

I'm excited to be getting involved with the BP community! I've been listening to podcasts (reading books, etc.) for awhile and feel like I'm ready to really jump in. I'm looking for a 3 or 4 flat to house hack in the Bronzeville area, as a way to get started. After that, I'd like to get into small, multi-family investing.  I've got a fair amount of building knowledge (I currently work in architecture and used to do construction), but am still catching up on the financials side. I'm hoping to learn, network and offer what I can. I recently went to the meetup hosted by @Brie Schmidt and had a great time making connections. 

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Mark AinleyBusiness Member
Property Manager · Roselle, IL (Chicago Suburb) · Member since 2013 · 2k+ posts · 1k+ votes
9y

@Brian H. we are able to keep them off the site cause they stay leased. 

[email protected]630-781-6744Podcast Guest on Show #72
GC Realty & Development LLC4.61078 Reviews
WebsiteView Page
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  • Aaron Vaughn
    Rental Property Investor · Chicago, IL · Member since 2016 · 123 posts · 64 votes
    9y

    welcome Brian '! You may want to house hack Englewood first ! I know I know here come the boo birds! Pls DM me for details.

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  • Chris T.
    Investor · Downers Grove, IL · Member since 2015 · 1k+ posts · 955 votes
    9y

    welcome to BP!

    @Brian H.

    You're already ahead w/ building and construction knowledge. It shouldn't take too long for you to figure out the financials. 

    Keep meeting people to build up your network. If you venture out to the western suburbs, there's a few excellent meetups you're welcome to join as well. 

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  • Zach Shuta
    Residential Real Estate Broker · Chicago, IL · Member since 2016 · 25 posts · 3 votes
    9y

    Welcome to BP and congrats on getting into the game!

    @Brian H.

    Get in touch if you're looking for a wholelaler/broker team to help you get into a deal.  We are managing Airbnb's in bronzeville and it's heating up like crazy over there!  Wish you the best in your hacking!

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  • Mark Killion
    Real Estate Broker · Chicago, IL · Member since 2010 · 33 posts · 33 votes
    9y

    @Brian H. 

    Welcome to BP!

    Bronzeville is an excellent choice.  

    I have tons of informative blog posts on the area dating back to 2007.

    PM me or just Google "Bronzeville Blog". 

    I usually show up as the 1st result :)

    Good Luck!

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  • Katrice Brooks
    Milwaukee, WI · Member since 2017 · 8 posts · 2 votes
    9y

    Welcome Brian!  I can't wait to see what your home improvements look like with your design background.  

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  • Elbert D.
    Real Estate Entrepreneur / Investor · Chicago, IL · Member since 2016 · 688 posts · 367 votes
    9y
    Brian H. Welcome to BP. Bronzeville and HP are very good areas and I think will be equal to some of the areas up north. I come across deals in those areas all the time. If you want any help PM me and I can assist you in what you are looking for in Real estate.
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  • Brian H.
    OP
    Architect · Chicago, IL · Member since 2017 · 53 posts · 17 votes
    9y

    Thanks for the notes everyone, I'm looking forward to connecting and contributing here. I went to the Chicago Housing Expo yesterday, and got some great info about different available rehab loan programs for owner-occupied property, and some that you can still qualify for first time buyer grants with as well.

    @Aaron Vaughn  I actually was looking there a bit first, but didn't end up going that way. Are you working (or living) in the area there? 

    @Chris T.  Thanks, I'm working on it. I'm carless, so don't usually make it out of the city too far, but good to know. We'll see... 

    @Zach Shuta Thanks! 

    @Mark Killion  That sounds great, I will definitely look that up. I'm somewhat familiar with certain areas, but still have lots to learn. 

    @Katrice Brooks  Thanks, me too! I can't wait to have the opportunity. 

    @Elbert D.  Thanks!

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  • Elbert D.
    Real Estate Entrepreneur / Investor · Chicago, IL · Member since 2016 · 688 posts · 367 votes
    9y

    @Brian H. where was the Chicago housing expo? This is my first time hearing about this. 

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  • Aaron Vaughn
    Rental Property Investor · Chicago, IL · Member since 2016 · 123 posts · 64 votes
    9y

    Hey Brian' pls PM me thx

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  • Michael Facchini
    Lender · Chicago, IL · Member since 2017 · 438 posts · 193 votes
    9y

    Welcome Brian! Sounds like you have two important pieces of the puzzle. As for the financing side, it's not as scary or complex as it seems. If you have an idea of what the acquisition price and rehab budget might look like, happy to give you a breakdown of the simplified math. 

    Regarding Bronzeville....lots of action in that neighborhood once again. Best of luck with the search and hit me anytime!

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  • Mark AinleyBusiness Member
    Property Manager · Roselle, IL (Chicago Suburb) · Member since 2013 · 2k+ posts · 1k+ votes
    9y

    @Brian H.  Welcome...we own/manage a few in that area.  Reach out anytime!

    [email protected]630-781-6744Podcast Guest on Show #72
    GC Realty & Development LLC4.61078 Reviews
    WebsiteView Page
    0Reply
  • Brian H.
    OP
    Architect · Chicago, IL · Member since 2017 · 53 posts · 17 votes
    9y

    @Elbert D. It was at Malcolm X College on Saturday. A lot of great info on available loan products/grants/etc. Sorry, I meant to figure out where to post that sort of thing on the BP Forums, but didn't have time. I imagine you can look up the website still, and get some of the info on organizers, etc. I think this is their 2nd or 3rd year, and from what I heard, it keeps getting better.

    @Michael Facchini Yeah, things have seemed to be heating up there for awhile now. Hoping to get in before it's too late. And thanks, will do! 

    @Mark Ainley Hi Mark, thanks. I don't see any nearby on your website. You have others available in that area?

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  • Mark AinleyBusiness Member
    Property Manager · Roselle, IL (Chicago Suburb) · Member since 2013 · 2k+ posts · 1k+ votes
    9y

    @Brian H. we are able to keep them off the site cause they stay leased. 

    [email protected]630-781-6744Podcast Guest on Show #72
    GC Realty & Development LLC4.61078 Reviews
    WebsiteView Page
    1Reply
  • Elbert D.
    Real Estate Entrepreneur / Investor · Chicago, IL · Member since 2016 · 688 posts · 367 votes
    9y

    @Brian H. so these guys were trying sell some stuff? 

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  • Brian H.
    OP
    Architect · Chicago, IL · Member since 2017 · 53 posts · 17 votes
    9y

    @Elbert D. Well, you could look at it like that, but I thought there was a lot of great free information as well (and I tend to have a cynical eye for that sort of thing). Neighborhood Lending Services (non-profit lender) told us about their available loans, but also about the $7,500 IHDA grants available, the $15,000 MMRP grants available, the $75,000 Renew Woodlawn grants, etc. Most of the information was provided by an entity that sells something, but it was not overly sales based. There were also tables for vendors, but also people like the Metropolitan Water Reclamation District, etc.

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  • Elbert D.
    Real Estate Entrepreneur / Investor · Chicago, IL · Member since 2016 · 688 posts · 367 votes
    9y

    interesting....next year I'm have to go. Keep me in tuned. I might forget lol

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