All Forum Posts by: Debo Ijiwola

@Crystal Smith

Thank you for your reply. I agree. I am looking to financing the capital i.e using other people's money. I just began to network so I don't have private investors yet.

@Daniel Moctezuma. Thanks for the list, it's really helpful. Yes, I'm staying away from the crime infested neighborhoods which happen to be lower priced. I'll begin to look at the south suburbs you mentioned. I'm currently using Redfin for my search. Any other recommendations for listings apart from MLS?

@Jerry Stanford.

Thanks. I appreciate any help!

@Kumar Paj

Thanks for your advice. I totally agree. However, my neighborhood (Kenwood) is priced way higher than my budget, so I'm considering neighboring areas that are not priced as high.

@Trevor Ewen 

Thanks for your reply!  Evanston is one of the nicer surburbs around the city and definitely pricier too. I particularly enjoy driving by the mansions there worth millions of dollars:)

My goal is to buy a property under $40K rehab it with about 10K - all with financing and then resell. I understand that there are better financing options with living in the property, but I cannot live in most of the neighborhoods that I will be buying in. It appears that the lower priced properties within my budget are mostly on the south. 

I am certainly open to partnerships with other investors who do not have the time but I know that it also takes some work to find them.

In terms of how much more I would add to feel safe, it'll probably be - baseline $100k and then an additional 20-25K to rehab and sell with a ceiling of 150-175K.

Does anyone have general tips on how to determine a good neighborhood to invest in? I have a budget of under $40K and looking for my 1st deal. It appears that many of the properties that I'm finding within this range are in neighborhoods infested with crime. Any general tips especially from real estate flippers in Chicago? Thanks!

Hello,

My name is Debo. I just started to learn about real estate investing and someone recommended the bigger pockets podcasts which have been providing  me with a wealth of information and resources. I'm an accountant with over 15 years of experience but a newbie in real estate investing. My goal is to learn  about how to flip houses successfully with zero or low capital and to be able to successfully flip 3 houses before the end of the year.