All Forum Posts by: Joe Scott

Joseph Montes I'm doing both. I'm using the license part time to make extra money. I have not used the MLS to find a deal yet but I can tell you that as a beginner it gives you the opportunity to really learn everything there is to know about what is selling and for how much in your area. This general info is available on a zillow but no way near as detailed. So I think MLS Access is great for gaining knowledge and becoming an expert on what values really are in your market. If the chicago market isn't going to be a focus for you I don't think it's worth the time or investment.

Chicago Real Estate School. They have an option to do the majority of the class at home. Then you have to attend 4 class sessions at night that meet twice a week. So you are done with that part in two weeks. After that you take their final exam then you take the state exam. That is what I did. You can get it all done in a little over a month or so. Let me know if you have any questions. I just went through it a couple months ago.

John Hauser thanks for posting that info with the links. It is appreciated.

Welcome to BP! Only you know if its worth the headaches. Everyone has a different level of tolerance for things. Will you be ok with screening tenants, managing the monthly rents, fixing any issues that might come up, being a bill collector if necessary? If you think you can handle those things among some others yeah it might be worth it. Have you accounted for Monthly HOA fees? Also will you have cash reserves to cover any vacancy you might have to deal with? Also you said that a lot of people renting in the area. How much demand is there for rentals around you? How much are others charging compared to the numbers you plan to use? Will your unit be competitive? again, welcome to BP!

@Mehran K. thanks for sharing that. I want to extend my condolences about your father. I am going to use this site the same way you did, "like a madman"

Congrats @Justin F. ! I know how awesome of a feeling that is. Best of luck with the improvements.

@Mehran K. 's books. I enjoyed the podcast he was on. Thanks for the suggestion. I plan on getting started in the next 3/4 months. I think that is enough time to get an understanding of my market and what neighborhoods will be best for what I want to do. I am going to do my best not to become that guy that just reads and learns and doesn't act. In these next few months I am going to get a firm handle on financing as well. So that when I step out to get that first house I will know my area and budget. How long did you wait until you felt you were ready for your first deal?

Thanks to everyone that took the time to respond to this thread. I have been reading this site over a week now and I have learned so much from many of you already.

My name is Joe. I live in Chicago (West Loop). I am looking to get back into real estate investing. I had a property a long time ago. I broke even on it. Then the market crashed. I am excited to get going again. I am looking to learn to rehab and flip a single family home in the 100k - 125k range. Hopefully many of them as I become comfortable with the process. I am going to get my Brokers license as well. I have to say that Bigger Pockets is AMAZING! I found this site a week ago while looking for RE Podcasts. I have listened to all but 3 of the podcasts since then. This is such an inspiring community. I look forward to being a significant contributor going forward. And Best of luck to everyone out there! " The harder you work, the luckier you get" - Gary Player