All Forum Posts by: David Monarrez
David Monarrez has started 2 posts and replied 3 times.
Post: Advice For Newbie On Cash flow properties
- Chicago, IL
- Posts 3
- Votes 0
Hey guys,
First a little about myself im 25 residing in the northwest side of chicago with a fulltime job good credit, I have about 10k in savings. I have really gotten motivated into buying investment properties that can create cash flow for me, im not really looking to buy and flip but rather buying and renting out for long term purposes, What kind of mortgage do i apply for since this will not be a primary residence for me? Do i need a huge down payment at this time in the mortgage lending scene?I dont own any property and im completely clueless as to where to even start looking for this information. Also i have tried looking for foreclosure listings and short sale listings to kind of get an idea on market values but all the websites that show up are pay sites is this normal for these listings? I have already started to read up on landlord laws in Illinois and tenant rights. What would you guys recommend me to start with first as i have read through several post's on this website but kind of get discouraged at all of the "science" behind real estate investing.Thank you guys for your help and great information found on this webpage.
Post: Newbie to Investing in Properties
- Chicago, IL
- Posts 3
- Votes 0
Thanks guys for the input i will definately become a member and try to learn as much as i can from this site also!! :mrgreen:
Post: Newbie to Investing in Properties
- Chicago, IL
- Posts 3
- Votes 0
Hey guys great website here and lots of information.
well first off im 25 years old i live in the northwest side of Chicago Il, I have currently seen a great number of properties being foreclosed of abandoned in my area of Belmont Cragin neighborhood and im interested in learning how to get in to the buy and flip business. I currently am employed fulltime thankfully i have about 6k in savings wich is not much would this be a big problem in getting in to this field? I have very good credit and i know there are risks involved with any investments made but would love to learn the tricks as im sure everybody starts from the bottom up. If anybody can shed some more light in to this for a complete newbie i would greatly appreciate it. I have thought of joing the Chicago Area Real Estate Investors Association anybody haave any experience with this group as i cant find much info on it. Thanks alot for your help guys!
:mrgreen: