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All Forum Posts by: Chintan Patel

Chintan Patel has started 2 posts and replied 9 times.

Quote from @Victor So:
Quote from @Chintan Patel:

Hello everyone,

I am seeking help and advice on investing in my first rental property. Specifically, I am looking to invest in a single-family property around $250K, but I am unsure of which area to invest in for 2023.

I would greatly appreciate any insights or advice on areas that are currently good for investment, as well as any tips or suggestions for someone new to the rental property market.

Thank you in advance for your help!


 Hey Chintan, what strategy are you looking to employ? Househack? Buy and hold?


Right now considering buy and hold.

Quote from @Harmeet Dhaliwal:

Chintan,

Finding the right property at the right location is key. Have you considered Indianapolis? Indianapolis has grown consistently over the past few years and is a stable market.


 Hi Harmeet,

No. I did not consider Indianapolis. Looking into Chicago suburbs only.

Quote from @John Warren:

@Chintan Patel I am a big believer in investing close to where you live. You are the number one factor in the success of your property, even if you are using other people to do work for you like manage, lease, do construction, or rent out the property. If you invest in a different state, you will have much less control over the outcome and you will likely not have as positive of an experience. 

Thanks John for the advice. yes, this is the reason I am considering Chicago suburbs only.
Quote from @Lee Burns:

I closed on a 2 family in the Avondale Park area on Feb 27th. They were asking 350 and it was on the market off/on for a bit, but I used a VA home loan and bought it for 295 (they accepted 285, but my lender and REA helped me strategize putting the price at 295) and the seller even offered some money toward closing. It's totally doable and the neighbourhood seems nice so far. Do you have at least $10k in savings and have you thought about using FHA to start?


I have saving to put 20% down and financing is not a problem for me. getting into right first rental property and real estate market is challenging for me since I am new into this.

Quote from @Paul De Luca:
Quote from @Chintan Patel:

Thanks Jason and Kristen. I am living in Chicago so currently I am considering investing in Chicago suburbs. Is it good idea to invest outside of Chicago ? 

 Depends on your goals and preferences. I agree with @Eliott Elias.

 Thanks for the advice Eliott and Paul.

Thanks Jason and Kristen. I am living in Chicago so currently I am considering investing in Chicago suburbs. Is it good idea to invest outside of Chicago ? 

Hello everyone,

I am seeking help and advice on investing in my first rental property. Specifically, I am looking to invest in a single-family property around $250K which can generate little cashflow, but I am unsure of which area to invest in for 2023.

I will not have time to manage property to myself so looking for property management service as well. 

I would greatly appreciate any insights or advice on areas that are currently good for investment, as well as any tips or suggestions for someone new to the rental property market.

Thank you in advance for your help!

Hello everyone,

I am seeking help and advice on investing in my first rental property. Specifically, I am looking to invest in a single-family property around $250K, but I am unsure of which area to invest in for 2023.

I would greatly appreciate any insights or advice on areas that are currently good for investment, as well as any tips or suggestions for someone new to the rental property market.

Thank you in advance for your help!