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All Forum Posts by: George Rodriguez

George Rodriguez has started 6 posts and replied 25 times.

Post: Help Analysis lake shore drive

George RodriguezPosted
  • Roselle, IL
  • Posts 26
  • Votes 3
Lake Shore Dr Chicago, IL 60657

2 beds2 baths1,434 sqft

Here is a condo in lakeshore drive it's on the second floor and it's going for 214000 I need help analysis this deal to see if it's good or not. From the pic you can see it needs a kitchen redo and both bathroom redo. 2 beds2 baths1,434 sqft 

The comps in this building run  recently sold comps past 6 months 300,000-359,000

Post: What did you do to learn real estate investing

George RodriguezPosted
  • Roselle, IL
  • Posts 26
  • Votes 3

Any one you can recommend in the Chicago western suburb 

Post: What did you do to learn real estate investing

George RodriguezPosted
  • Roselle, IL
  • Posts 26
  • Votes 3
Originally posted by @Jay Hinrichs:

@George Rodriguez@James Wise

PS  James Wise is hiring... he would be the perfect proto type broker to work for... if your desire is to work as an investor with investors...

No place better to learn than to get in that environment.. it is just so tough to sit at home by your self and try to become a RE investor  LOL  really tough

 Thank you so much for your advice, I will start looking for classes in real estate to get my license. You mention that James Wise is hiring. How do I get in contact with him.

Post: What did you do to learn real estate investing

George RodriguezPosted
  • Roselle, IL
  • Posts 26
  • Votes 3

thank you all for the great advise and talking the time in your very busy schedule, to post a response, it is very overwhelming and frustrating to know how to start. You hear of all this successful people out and wonder how they got started.

Post: What did you do to learn real estate investing

George RodriguezPosted
  • Roselle, IL
  • Posts 26
  • Votes 3
Originally posted by @James Wise:

yes

 That's a good way to start if you have the capital or the credit history, what if your straight out of college and in student debts and are so egar to get start. 

Post: What did you do to learn real estate investing

George RodriguezPosted
  • Roselle, IL
  • Posts 26
  • Votes 3
Originally posted by @James Wise:

@George Rodriguez

Everyone has to start somewhere. I was just using those numbers as an easy example.

When I started I had nowhere near $250,000. 

The key takeaway here is that you can by property and have the bank put up 3/4 of the money for it. Your tenants will then pay the bank off for you.

So your taking about a hold propratie right.

Post: What did you do to learn real estate investing

George RodriguezPosted
  • Roselle, IL
  • Posts 26
  • Votes 3
Originally posted by @James Wise:

@George Rodriguez

Welcome to the site.

To invest in real estate you need at least 1 of the following 3. 

1. Money

2. Credit

3. Knowledge/Experience

Starting out it's good to use your own money because without the knowledge and experience your going to find it hard to raise funds from others.

Having good credit will allow you to leverage your money very well. Usually banks are looking for 25% down. If you have $250,000, good credit and income you can obtain mortgages and buy 1 Million dollars worth of property.  

After you have operated your Million dollar portfolio for awhile you have some experience to bring to the table and will find it much easier to raise funds from others for your next 1 Million dollars worth of property.

 Thanks for the advise, wish I had those kinds of funds 😁

Post: What did you do to learn real estate investing

George RodriguezPosted
  • Roselle, IL
  • Posts 26
  • Votes 3

hello my name George and I'm eager to learn real estate investing either being flippes or rentals. I want to hear from people that have done it, how you started? What steps did you take to  acquire the money to buy your first deal? What books or education did you  read or take to get to where you are now?  Do you use your own money at all or others money to make it happen?

I want to learn 

I'm looking for a mentor, currently live in the suburbs of Chicago,

it was totally rehabbed 

Just wanted some advise on this apartment complex

http://investla.realyields.com/listing/tim4/9323-paxton-chicago-il-60617.pdf