How can I avoid the mistakes that YOU made??
Hi everyone, I'm going to try to make this short and sweet!
I'm moving back to Chicago in 6 days and I'm ready to jump into Real Estate (finally!) I have not done any deals/taken any action yet in Real Estate because I knew this move was coming.
What I have done is read, studied and listened. I've listened to any/every Real Estate Investing podcast there is and experienced investors always talk about all of the mistakes that they made. How can I avoid those? I know I will make mistakes, but I want to make as many correct moves as possible.
Successful investors- If you had to start over, what would you do different? What would you do the same? What was a waste of time and what was the best move that you made? Did you start out solo or have a partner?
Just so you know what my plan is to better frame your answer- I'm going to go for my real estate license right away to learn more in depth about purchasing/selling properties- I learn best in a classroom/organized setting so I think this will be best.
I want to purchase a small multi-family unit in/around the Southwest Suburbs within 4 months of the move. I'm working on a personal loan with a family member and will do a FHA or 203K loan. We will most likely do a 203K to have room for repairs.
I want to get into a situation where I'm living rent free as quick as possible so I can save for my wedding and purchase more property! The end goal is to be a full time investor within 18-24 months of next Monday! (right now I work full time in travel)
Any advice/thoughts will be incredibly helpful! (especially from investors in the same area)
Thanks for the time