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All Forum Posts by: Ryan DiCanio

Ryan DiCanio has started 9 posts and replied 43 times.

Post: Starting My Real Estate Portfolio

Ryan DiCanioPosted
  • Aurora
  • Posts 44
  • Votes 24

@Tucker Cummings all great information Tucker, thanks for the help! I will put some of those into action today.

Post: Starting My Real Estate Portfolio

Ryan DiCanioPosted
  • Aurora
  • Posts 44
  • Votes 24

@Account Closed currently in search for an educated realtor, do not have one yet. I am currently looking for properties on my own until I can find one. To be honest, I was just introduced to the turn key concept the other day! I have a limited knowledge base on the subject; have you had success with it?

Post: Starting My Real Estate Portfolio

Ryan DiCanioPosted
  • Aurora
  • Posts 44
  • Votes 24
Originally posted by @Tucker Cummings:

My advice:

1) Acknowledge the seller's market, know that it's going to be tough to get good deals on the MLS. So open your funnel to off market deals.

2) People will always tell you its a good time to get in, a good time to get out, a good time to buy, a good time to sell, a good time to wait, a good time to act. Do what you want, just be smart and calculated about it.

3) Get educated. Ditch music, listen to podcasts. Ditch news feeds & social media (unless marketing) and start reading books and blogs about investing.

4) Try house hacking your first one. That's my biggest financial regret, that I didn't do this.

5) Acknowledge that you're going to mess up. It's part of the process and its the cost of your education by doing.

6) Just do it. Don't overthink stuff. You'll learn the most by doing.

Absolutely LOVE this advice Tucker! From a webinar I had been a part of, I feel that off-market is a great way to find a deal and can even work better in your favor if your a personable person. For off market properties, do owners still list their properties places or to find them I would have to drive around in my area? 

I am definitely going to house hack for my first investment for a couple years. And I already am accepting of the fact that I will mess up. That has proven the best form of education in my lifetime so I am not afraid of any bumps in the road along my journey.

Thanks again for the tips! Lets connect and discuss further if you'd like.

Post: Starting My Real Estate Portfolio

Ryan DiCanioPosted
  • Aurora
  • Posts 44
  • Votes 24
Originally posted by @John Warren:

@Ryan DiCanio the market is pretty red hot everywhere right now, so I wouldn't try to chase deal into areas you don't know. Instead, I would focus on areas you already want to live in and start to learn your local sub markets. We listed properties this past week in Stickney, Berwyn and in the Tri Taylor neighborhood, and all of them had 5-10 offers within a day. In this market, you want to be very sure of what you are buying as you will have to act very, very quickly. 

 I appreciate that tip John. Essentially become extremely knowledgable on where I want to live first, then start expanding once I have a strong knowledge base. 

Post: Starting My Real Estate Portfolio

Ryan DiCanioPosted
  • Aurora
  • Posts 44
  • Votes 24
Originally posted by @Henry Lazerow:

I will look into these areas as well. You make a good point with the tax rates of the suburbs, as in my analysis' so far they are consistently higher than other areas. I would love to connect further if you're interested!

Post: Starting My Real Estate Portfolio

Ryan DiCanioPosted
  • Aurora
  • Posts 44
  • Votes 24

@Brandon Gore Thanks for the support! I would love to connect further - I want to learn as much as I can from as many different people as I can. 

Post: Starting My Real Estate Portfolio

Ryan DiCanioPosted
  • Aurora
  • Posts 44
  • Votes 24

@Paul De Luca Yes I am looking to house hack for a couple years! Those are all areas that I would be open to looking at. I would also already have one person moving in and renting from me as well no matter where I go (which is a plus). Would love to connect further if you're interested! 

Post: Starting My Real Estate Portfolio

Ryan DiCanioPosted
  • Aurora
  • Posts 44
  • Votes 24

@Jonathan Klemm thanks for the warm welcome! I would love to connect further and learn more about yourself and the path we are both heading down.

Post: Starting My Real Estate Portfolio

Ryan DiCanioPosted
  • Aurora
  • Posts 44
  • Votes 24

@Henry Lazerow thanks for your input! That seems to be the consensus that I have gained from the community. Do you have any locations I can look further into around the outer Chicago area? Not looking to live in the city, but also want to stay somewhat close to the suburbs for family!

Post: Starting My Real Estate Portfolio

Ryan DiCanioPosted
  • Aurora
  • Posts 44
  • Votes 24

@John Warren Thank you! I really appreciate your feedback and support! I am looking to learn and maximize my opportunities in anyway that I can. I am looking to move out on my own as soon as possible, but understand it won't be a quick nor easy process with how the market is. Do you have an opinion on when you see the market changing?