Real Estate Agent Recommendations in Chicago

[Dustin Albers]

Hello All,

I have always had a real estate passion and now I feel like I am finally in a position to move forward and start my real estate journey. I have spend the past 6 months educating myself through reading as many books as I can and also listening to the BP podcast and forums.

I am looking to go with the house hack strategy for my first investment property. I am looking for a 3-4 unit property in North Chicago. I plan on eventually making a living out of real estate so hopefully this first purchase will lead to many more in the future.

I wanted to find out from other investors in the Chicago area if there are any recommendations real estate agents that have experience with investment properties?

Also on a side note, if any experienced investors have any tips they wish they would have known prior to buying their first property I would like to hear them.

Thanks All, hopefully I get to connect and meet more people through BiggerPockets.

[Joe H.]

I am an independant RE Broker and also a multi unit investor. I would share some tips on what I wish I would have known, but the list is endless! I started this when I was 22 in the bottom of the recession and have learned just about everything by trial and error. My #1 piece of advice is: "It's all about the price you pay for it" and the moral of that being BE PATIENT. It's easy to get carried away when you find a beautiful building that you think is a good deal, but if you tie yourself up too soon on a "good" deal, then you can't pounce when you run across a "great" deal. RE is an industry that tends to reward those who stay liquid and wait for things to fall into their lap. To that effect, a lot of brokers like to push their clients to buy as quickly as possible because, well, that's what makes us the most money. Resist that urge and that preassure. Keep your eyes open and remember there's always more fish in the sea.

[Jeff Dulla]

@Dustin Albers - I work with a team of realtors in Chicago that are knowledgeable, top producers that I have run all of my own deals through. Just PM me if you would like a few of their contact info.

When you say North Chicago, are you talking about the general geographic location or actually North Chicago?

[Jaclyn McClellan]

@Dustin Albers I am a real estate agent and investor in Chicago, let me know if I can help you :)

Great advice @Joe H. ! 

I would say try your hardest to be objective with the numbers and not force them to fit the formula just so you can buy a property. Also, always protect yourself. I've had to learn the hard way there are really shady people out there and if you don't protect yourself they will take advantage of you. 

House hacking is a great idea! have you talked to a lender yet?

[Alex Bok]

@Dustin Albers congrats on making the leap and investing in real estate. House hacking is definitely a great first step to take! Would love to connect with you here to see if we are a good fit to work with each other. Am assisting buyers like yourself who are looking for investment buy ins!

[Jeff Burdick]

Originally posted by @Dustin Albers:

Hello All,

I have always had a real estate passion and now I feel like I am finally in a position to move forward and start my real estate journey. I have spend the past 6 months educating myself through reading as many books as I can and also listening to the BP podcast and forums.

I am looking to go with the house hack strategy for my first investment property. I am looking for a 3-4 unit property in North Chicago. I plan on eventually making a living out of real estate so hopefully this first purchase will lead to many more in the future.

I wanted to find out from other investors in the Chicago area if there are any recommendations real estate agents that have experience with investment properties?

Also on a side note, if any experienced investors have any tips they wish they would have known prior to buying their first property I would like to hear them.

Thanks All, hopefully I get to connect and meet more people through BiggerPockets.

 Welcome Dustin!  I am a fellow investor on the north side of Chicago.  

[Brie Schmidt]

@Dustin Albers - Welcome!  Do you mean the north side of Chicago or North Chicago (a different city)?  If it's the north side feel free to PM me and I can send over examples of properties and numbers to expect

[Dustin Albers]

@Joe H.Thanks for the advice I appreciate it. I can see why you say that because I'm very excited while looking at properties but the money is made during purchase.

@Jeff Dulla thanks I will

@Jaclyn McClellan thanks, I will think with math instead of my heart and make sure to protect myself.

@Brie Schmidt I am referring to North Side of Chicago. I currently live in North Center and would love to find a place in my current neighborhood or anywhere else where the math would make sense.

@Alex Bok I would love to connect

@Jeff Burdick we should connect

[Brie Schmidt]

@Dustin Albers - I live in North Center too.  I only work with 2-4 unit buyers and own over 30 properties myself.  I can tell you that you wont find anything in NC that will cash flow unless you are putting a few hundred thousand dollars down.  The biggest problem east of Western is the loan limits

Property Type	FHA	Conventional
2 Flat	$468,150	$543,000
3 Flat	$565,900	$656,350
4 Flat	$703,250	$815,650

If you are looking for cash flow you are going to need to go a bit west.  Feel free to PM me your email address and I iwll send examples and numbers