New member from Central Illinois (Champaign)

8 Replies

Hello everyone! I just thought it appropriate to make an introduction for myself. It has been a while since I have frequented any forums and I look forward to engaging and meeting some new people through this forum!

My name is Paul Schanbacher and I am Champaign born and raised. I am currently working a job that had been a dream of mine since I was in middle school (to build custom cars) but another dream of mine has always been to break into real estate investment and owning rental properties. I would eventually like to see the possibility of just focusing on real estate as I grow older, as the custom car industry is not easy on your body by a long shot! Flipping houses in the future is not out of the question by any means, if anything I would like to take on a flip within the next few years.

I'm nearing the point of taking my first steps at buying my first rental. I cannot lie, the idea is scary, albeit exciting. I feel as if I know so little, but everyone starts out feeling that way, am I right?

I am a greenhorn at best but I've made one dream happen and I'm ready to take on the next one. Any local meets around the Champaign-Urbana area?

Hey @Paul Schanbacher

Welcome to BP! Good to see another person from Chambana on the site. Congrats on landing your dream job and starting to go down the path of REI. As you mentioned everyone feels overwhelmed at the start but just like anything substantial it will be built up over time and because of many small positive steps in the right direction. I would think that the craftsmanship needed for having a successful custom car business would translate well into fix and flip or just rehabbing a buy and hold rental property. Feel free to reach out with any questions on the areas and keep pushing forward!

Best of Luck,

Scott

In Champaign look up the "Central Illinois Rental Property Professionals". They are a member of the State Association named the "Illinois Rental Property Owners Association" which is a non profit. 

For great benefits check out Illinois REIA. Our contact information is below.

@Scott Dixon

Thank you for the welcome! It's reassuring to hear some of the worries and strengths I already think about confirmed by someone else. It just makes me think I am on the right track. You are correct in thinking that craftsmanship from one area transfers to the next. Though they are completely different in so many ways, it overlaps a lot of the time as well. I have actually helped with many interior renovation projects growing up, worked for Royse and Brinkmeyer apartments doing maintenance when I was younger, and I have now almost completely remodeled the interior of my first home that I now live in. It's good to know there are at least a few people from the Champaign-Urbana area on the forum.

If you don't mind driving to Bloomington, there is a Meetup group called Central Illinois Real Estate Investors, and they meet each night. They also have an active Facebook page of the same name. There are many very experienced regulars who have a lot of insight and are generous with information. I'm also a newbie... want to pull the trigger and buy, but not quite there yet. Hopefully soon. 

Updated about 3 years ago

They do not meet every night... they meet *every month.*

Originally posted by @Paul Schanbacher :

Hi @Nickie Byers

What nights seem to be the most active? I will keep that in mind!

 I'm SO sorry... I made a really bad post, before. They do *not* meet every night, they meet every month - 2nd Tuesday.  I don't even know how I made that bad of a mistake!  The FB group is regularly active with posts/conversations, and the people there (and at the meetings) seem eager to answer questions.  

@Nickie Byers

No worries! I was not planning on heading there this evening or anything! I thought every night sounded like a lot! I'll have to keep a Tuesday on mind one day if I can and possibly make it by. Thanks for the clarification!

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