New Chicago Investor 2016 reflection & 2017 goals

[Syed Lateef]

As 2016 is coming to an end I wanted to write a quick post on some of my accomplishments and successes this year and thank to the people that have helped me get this way.  A high level summary of my highlights and deals i was involved in are below and my goals for 2017

2016 Highlights

1. Rogers Park Home (Wife's family's home)- $265K- Sold  (huge burden on my wife)

2. Morton Grove- Sister Condo $209K- Sold (convinced her to house hack)

3. Jefferson Park- 4 unit Multifamily $510K- First property I acquired (house hack)

4. Logan Square- 3 unit Multifamily $555K- Helped my sister acquire first multifamily (house hack)

5. Promoted to a Financial Manager @ my Corporate job

6. The most important highlight in 2016 is i became a father to my beautiful daughter Sofia 

2017 Goals:

1.  Acquire 1 more multifamily in north-side of Chicago

- Refinance out of my FHA loan to convention- Get into a FHA 203K loan for my second

2.  Help my wife acquire her first property & help my sister acquire a second property 

- Leveraging low money down loans (first time home buyer etc)

3. Get involved in at least 2 Flips

- Currently in talks partnering with people i met on BP and at Local REIA or a flip in Irving Park

4. Help my father with his mixed-unit commercial property in Rogers Park increase NOI

- Current rents are way under market- Units are in bad shape- Tenants are questionable

- Looking to increase appraisal value to do BRRR strategy

5. Help father develop empty plot of land in Rogers Park

- Adjacent to his commercial property, my father has a vacant piece of land due to a fire in 2007- 

- We are looking to develop the land into a mixed unit. We have gone through many complications over the years and the plot is still empty

6. Get more involved on BP and participate in Forums

I have a lot of work to do for 2017, but i cant thank Bigger Pockets enough and the people that i have met on here and have helped me through this process. Few people i have to give a shot out too are:

@Brie Schmidt; @Nnabuenyi Anigbogu; @John Casmon; @Mark Ainley; @Brandon Hall

@Brandon Hall

[Alex Bok]

@Syed Lateef that is awesome to hear! 2016 has been a great huge stepping stone for myself as well. Looking forward to hearing your continued successes. Chicago is a great market to invest in! Am trying to get into northside multi family rentals as well this upcoming year