Hello from Central Illinois

10 Replies

Hello BP! 

Former residential construction worker turned railroad conductor in central Illinois. 

I'm hoping to learn as much as I can about real estate investing as well as networking through the BP community.

I currently rent an apartment and I am looking at purchasing either my 1st primary sfr or continue renting and purchase my 1st investment property.

Hope everyone is doing good and I look forward to being active in the community.

-Shane 

Knowing what part of Illinois would increase the chance of you connecting with someone local.

Welcome to BP. How about a duplex which satisfies both of your thoughts.

Originally posted by @George Skidis :

Knowing what part of Illinois would increase the chance of you connecting with someone local.

Welcome to BP. How about a duplex which satisfies both of your thoughts.

 George I am currently living in Decatur, Illinois. Not very many duplexes available here but a few that I'm gonna be taking a look at next week. 

Welcome to Bigger Pockets, @Shane Brandt !

You'll find plenty of friendly, knowledgeable people willing to help respond to your questions. Many members are experts in their respective fields related to real estate investing, whether that is real estate brokerage, wholesaling, flipping, buy and hold, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.

If you haven’t checked it out already, the Bigger Pockets blog features links to their awesome podcast and many great articles: https://www.biggerpockets.com/renewsblog/

The site has quite a few tools that can be helpful for new members. For example, if you are looking to connect with other members near you, want to learn from people in a specific area you’d like to invest in, or have a desire to find people interested in certain topics, you could start your search here: https://www.biggerpockets.com/search/users

I really like the alerts feature that can quickly guide you to current topics that might interest you: http://www.biggerpockets.com/alerts

@Shane Brandt Welcome aboard! You're in the right place :)

My wife's family is from Illinois. Her sister used to live by Mattoon, so I know where you're talking about (do parts of Decatur still smell like old, burning tires? LOL).  Not many duplexes around there, as you said. Tons of cute little single families, though. Do your due diligence on the properties themselves and know your market. Since you live around there, you know what areas are hottest, which ones would attract students as rentals, etc.

Good luck!

Originally posted by @Justin Windham :

Welcome to Bigger Pockets, @Shane Brandt!

You'll find plenty of friendly, knowledgeable people willing to help respond to your questions. Many members are experts in their respective fields related to real estate investing, whether that is real estate brokerage, wholesaling, flipping, buy and hold, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.

If you haven’t checked it out already, the Bigger Pockets blog features links to their awesome podcast and many great articles: https://www.biggerpockets.com/renewsblog/

The site has quite a few tools that can be helpful for new members. For example, if you are looking to connect with other members near you, want to learn from people in a specific area you’d like to invest in, or have a desire to find people interested in certain topics, you could start your search here: https://www.biggerpockets.com/search/users

I really like the alerts feature that can quickly guide you to current topics that might interest you: http://www.biggerpockets.com/alerts

 Thanks for the welcome Justin as well as the links provided. I will def take a look at each of them.

Originally posted by @Bryan Blankenship :

@Shane Brandt Welcome aboard! You're in the right place :)

My wife's family is from Illinois. Her sister used to live by Mattoon, so I know where you're talking about (do parts of Decatur still smell like old, burning tires? LOL).  Not many duplexes around there, as you said. Tons of cute little single families, though. Do your due diligence on the properties themselves and know your market. Since you live around there, you know what areas are hottest, which ones would attract students as rentals, etc.

Good luck!

 Bryan, I've been to mattoon quite a bit and can tell you it smells alot better there than Decatur. When I leave Decatur for a couple of days and return I get that refreshing order I become accustomed too here in town (old burning tires and other smells lol).

I have a pretty good grasp on the market here in town as well as the small surrounding areas. My fathers construction company did and still does lots of work for the local real estate companies here In town. Which has helped me network with them and be able to get into houses quicker I would say. 

I'm just trying to decide if I want to go the primary route or the investment route first. I'm not sure if I can get a conventional loan for a primary as well as say get a construction loan for an under 40k investment property at the same time. 

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