Newbie to real estate let's connect

18 Replies | Joliet, Illinois

Hello ! I am a newbie to real estate and am looking to gain knowledge on the industry. I'm located around Romeoville, IL. Interested in house hacking initially and as well interested in house filling just don't have the capital for that now, eventually renting out properties. looking to learn how to get funding to carry out my goals! I know there are very knowledgeable people here and would love to find out more information on how to get started! Thanks

Hey Ricardo,

Welcome to BP! I have a few houses in Romeoville I am renting out and love the area. I would love to hear about any insight you may have about the area. I am sure you could make house hacking work in this area if you found the right house.

Hi Sean ,

Thanks for the welcome 😊
I’m looking for multi family homes 2-4 Im actually going today to see a 2 flat today . Looking to get my feet wet 1st . 

There isn’t any in Romeoville. A lot more single homes.
I’m focusing on equity and cash flow more towards cash flow to re invested in future investment.

The market in Romeoville looks good to flip a home . 

Do you have any insight in Joliet market. Looks pretty good if looking for cash flow. 

Did you finance your 1st home?

How you got to your 2nd 

@Ricardo Gomez

I financed my two homes in romeoville. Also have a 2 flat in Tinley Park that I used a heloc to finance. I only looked at one property in Joliet and the rents didn't work with the price. I really don't know much about Joliet to give any advice.

I just came back from seeing a 2 flat in Joliet . This people really over pricing there home and not worth the dollar . The amount it will take to fix this houses you won’t see the return for a while no good .

In search of a 2-4 multi family for cash flow in Will county area 

@Ricardo Gomez ,welcome to BiggerPockets, you are definitely in the right place. Just make sure to consume contents here as much as possible and feel free to ask any questions you may have. We are here to help each other grow.

Goodluck

@Wale Lawal

Thanks for the welcoming .

Love the content BP has to offer lots of information. Let's connect for future questions . At the moment I'm sourcing for my 1st multi unit 2-4 thru FHA in the Joliet area. Focusing in cash flow for future re investment my long term is to get into flipping as well I see good money there just gotta get to the capital to start.

@Ricardo Gomez - Welcome to BP and congrats for deciding to get into the real estate game.  Sounds like you have a solid plan.  Starting with housing hacking is a perfect way to start and helps mitigate some of the risks that comes along with being an investor.

Happy to connect and see how we can help.  I am up in Chicago, not sure if you are planning to invest in Romeoville or open to other markets as well?

@Ricardo Gomez  I will suggest you define your criteria and make an offer on every property that meets these criteria. Price should not be a criterion, make offers based on what that property is worth to you. Good Luck

@Jonathan Klemm

Thanks 

I’m focusing in Joliet well Will county .Romeoville has single family homes I see no multi homes right now . Joliet as well all homes are eather under contract or no fha . I want to focus on the Joliet romeoville Lockport area . 

@Wale Lawal

Thanks you 

Do any of you suggest for me to take the real state agent licensing online or in person ?

@Ricardo Gomez welcome! Romeoville and the surrounding areas lend themselves to town home and single family investing. If you want a 2-4 unit you will likely have to move in closer to the city or move towards Joliet or Aurora. You are in the right place here to gain knowledge and to meet people!