Updated over 8 years ago on . Most recent reply
A new investor from Chicago! Hi BP
Hi Bigger Pockets!
My name is Choeun, 31, and I currently live in Chicago. First off, just want to say thanks and that I am very grateful that a community of investors are available to new investors/newbies just starting off. I have learned a great amount the past few months just reading and watching videos/podcasts, but also know that what i've learned is only the tip of the iceberg. Being a brand new to investing, I have questions and Im trying to get myself plugged with local investors and maybe finding a mentor. I am interested in learning to wholesale properties as well as purchase rentals in the future.
A couple years ago my brother and I, sick of living with problems our landlord wouldn't take care of, we decided to purchase a property. We decided that we would buy the property and hold it for a few years, let it appreciate and sell it for a profit. After reading and researching about REI, renting this property out and being able to move in to a multi-family unit would be nice. My goal is to wholesale properties for extra cash and save as much as I can to purchase the next property. But thinking about wholesaling and renting and purchasing another property sounds great but there is so much more detail and information I know I don't have and that makes me afraid to make any moves at all.
Where do I go from here? Anyone with wholesale experience I can bother? I'd gladly pay for lunch for your two cents. I would also love to join local REI groups in Chicago. I just found the REIA Chicago on Meetup as well but are there any others I should know about? Thanks again BP! Hope everyone is doing well!
Choeun
Most Popular Reply
@Choeun Park , Welcome to BP, where you'll find a large group of people ready and willing to help!
If I understood you well, you already bought a building a few years ago and now you are looking to get in wholesaling, correct?
In order to start wholesaling, you'll need to choose a neighborhood, learn the prices really well and start doing research to find homes where the sellers are desperate to sell. When you find a seller willing to sell at your price, the buyer will be very simple to find!