All Forum Posts by: Kevin Klein

@Jessica Clute Welcome to the community! I'm very new to all of this as well, but let me know if I can be of any help!

@Derek Young I met Arthur Blachno earlier this week at a BP event.  He's out of Chicago, but I know he is licensed to work in IN.  I am not sure if he was a Direct Lender or a Hard Money Lender.  Might be worth giving him a call (847)912-6580.  Website is www.stearnshomes.com/lincolnpark 

@Kevin Coleman I'm new here too, and also trying to buy my first properties as a buy & hold investor.  I've been spending pretty much all of my free time listening to the podcasts and reading the forums...so much information on the site.

If you ever need anything let me know, we can learn some stuff together.

@Account Closed I've been looking into this as well. I'm in a similar situation to you in that I have a so who I will likely be moving in with in a year or so. My understanding is that you need to say you intend to live there for a year, but a change in your life circumstances (marriage, unemployment, etc) would make it okay for you to move out. 

From the site linked to below: Applicants must submit written requests for such leniency, explaining circumstances which might prevent the buyer from taking immediate ownership of the property or having a break in the occupancy of the home.

http://www.fhanewsblog.com/2011/07/fha-loan-reside...

So I would think that marriage qualifies if you say that the place is suitable or big enough for your family.   In my case I was going to go the route of "living" there and not actually being there, just leaving my unit sit empty. 

@Mehran K. I'm told that because of the market in this area my best bet is to unload my place right now, with an expected 6-12% decline in the immediate market expected in the next six months.  This way I can maximize my profits from selling then take my time looking for a new place.

All,

Thanks for the quick replies!

@Mike York , I've done quite a bit of research and actually have a map of GRM my neighborhood.

@Paul Schuw @Rob Scarborough   I downloaded the first few podcasts for my ride home, then downloaded 78...can't hurt to skip ahead for one episode, right?

Kevin

Hi all,

My name is Kevin, I live in the Wicker Park neighborhood of Chicago (for now).  I've been thinking about getting into real estate investing for a while and finally decided to drop the hammer.  

I'm in the process of getting ready to sell my condo, then I plan on renting for a while why I shop around for a four unit building. I'm planning on buying that with an FHA loan and living there for a while.

Any tips for me?

Look forward to getting to know all of you!