Flipper/Rehabber · Saint Charles, IL · Member since 2018 · 19 posts · 5 votes
Hello all,
My name is Carl King and I came to this website on a recommendation from my brother-in-law, who has done investing for about a decade. I've previously owned a single-family rental property in Fort Worth, Texas and a landscaping business. A friend and I are discussing what a partnership might look like, but in the interim I am reading a lot and building my knowledge on real estate investing. I'll work in Saint Charles, IL and surrounding areas on value add for multi-family and condos.
Investor · Naperville, IL · Member since 2010 · 105 posts · 52 votes
8y
Welcome, @Carl King!! Also consider checking out CAREIA http://careia.org/index.php which meets RIGHT on Rt. 88 in Lisle once/month. Occasionally their speakers have something to sell but always educational and meaningful. I wouldn't go to any of the various organizations free events as they are generally meat markets. ;)
You can find so. much. information right here on BP, but it's always nice to get out and meet people who are in various phases of the business and hear their lessons learned and what's on their plate.
Denver, CO · Member since 2018 · 5 posts · 3 votes
8y
Hi Carl,
I am a newbie as well and from the northwest suburbs of Chicago. If you ever want to bounce ideas off one another, let me know and I'd be happy to jump on a call.
Investor · Chicago, IL · Member since 2017 · 7 posts · 14 votes
8y
Hi Carl and welcome to Bigger Pockets!
I'm a real estate attorney in the area and have worked with many investors. If you need any guidance please feel free to reach out to me. I'm also a CPA and have found that is useful for my investors. Best of luck on your new adventure.
I am a newbie as well and from the northwest suburbs of Chicago. If you ever want to bounce ideas off one another, let me know and I'd be happy to jump on a call.
I'm a real estate attorney in the area and have worked with many investors. If you need any guidance please feel free to reach out to me. I'm also a CPA and have found that is useful for my investors. Best of luck on your new adventure.
Naperville, IL · Member since 2018 · 32 posts · 24 votes
8y
Hey @Carl King! Just wanted to introduce myself as a fellow n00b in the area. It looks like we are both looking to educate ourselves at the moment before jumping in. In what types of properties are you interested in investing?
Specialist · Branford, CT · Member since 2018 · 222 posts · 121 votes
8y
Congratulations on your new endeavor into investing. Have you thought about how you will be finding your first deals? Plenty of investors are using direct mail to find properties that fit your criteria by contacting owners who share characteristics of owners who are likely to be ready to sell.
Absentee Homeowners with High Equity are the tried and true target as many people tire of the responsibility of owning property that they don't live in.
Seniors with 15+ year ownership is another good one. It isn't as widely utilized and these homeowners are often ready to downsize or transition to assistance.
@Carl King, There are 2,333 Absentee Owners in DuPage and Kane counties: high equity, single and multifamily with home value up to $350,000. Also, in the same area, 1,410 Seniors age 60-89, 15+ year residence, home value up to $350,000 with single family homes.
@Patrick Dwyer, The NW suburbs are harder to define for someone not familiar with the area. I could run a similar list report for you if you want to help me define the geographic area you want to be in.
My name is Carl King and I came to this website on a recommendation from my brother-in-law, who has done investing for about a decade. I've previously owned a single-family rental property in Fort Worth, Texas and a landscaping business. A friend and I are discussing what a partnership might look like, but in the interim I am reading a lot and building my knowledge on real estate investing. I'll work in Saint Charles, IL and surrounding areas on value add for multi-family and condos.
Hello Carl...
Congrats on being pointed here. BP is a great networking resource. It is like a great relationship, the more you give to it the more youll get out of it.
I will caution you to think about not having a friend as a partner. Rarely have I seen equals in partnerships and not being equal can be baggage on the friendship.
Grab some business cards as fast as possible and start handing them out... Even if you're uncertain what to say or talk about just having the courage to do something which may seem foreign will go a long way.
The multi-family arena is a great play for a person who is really good with numbers and has a strong vision.
Congrats on being pointed here. BP is a great networking resource. It is like a great relationship, the more you give to it the more youll get out of it.
I will caution you to think about not having a friend as a partner. Rarely have I seen equals in partnerships and not being equal can be baggage on the friendship.
Congratulations on your new endeavor into investing. Have you thought about how you will be finding your first deals? Plenty of investors are using direct mail to find properties that fit your criteria by contacting owners who share characteristics of owners who are likely to be ready to sell.
Thank you, Chrissy! Really insightful information. Very kind of you to run that report.
Real Estate Agent · Chicago, IL · Member since 2017 · 715 posts · 138 votes
8y
Carl King Welcome to BiggerPockets! It is great to have you and please feel free to jump in the community - there are certainly great people around here. Good luck!
Lender · Fort Collins, CO · Member since 2015 · 304 posts · 148 votes
8y
Carl King Welcome! I’m just a little west in Sycamore and have some properties in Geneva. I host a meet up once a month out here if you’re interested in connecting with some other investors.
https://www.ccia-info.com/ who meets I think in Lombard now or somewhere close, not sure as I am way more active with the first one.
They both do have speakers from time to time that sell stuff, but the networking is really helpful. The Chicagoreia group has had some pretty great speakers, people from HUD come into to speak about section 8, eviction lawyers speak, and had contractor showcases with the contractors and lawyers they use, and a *lot* of people in that group that are actually flipping or buying and renting properties successfully, as well as members who do private financing for flips.
Real Estate Broker · Aurora, IL · Member since 2017 · 159 posts · 53 votes
8y
Hey Carl,
Welcome to the site! I have met so many great contacts and mentors through this site. I am a local broker in the area and investor myself. I would love to talk sometime about our markets and share some connections.