All Forum Posts by: Rj D.
Rj D. has started 5 posts and replied 75 times.
Post: Any General contractors

- Investor
- Chicago, IL
- Posts 79
- Votes 62
Please keep us in mind for future projects, EJC Partners. You can find us through google or FB. We do 203k projects but our schedules wont free up until EOY.
Happy Hunting!
Post: New to REI in Chicago

- Investor
- Chicago, IL
- Posts 79
- Votes 62
Hey Daniel,
Welcome to REI and BP. My suggestion is to get out and start attending REI meetups. There are many great meetups in Chicago that will accelerate your passion, knowledge and education x 10 (no should out to Grant). Meeting successful investors face to face will allow you to build a rapport that is NOT obtainable through forums.
Get out there and really network. This is the only way you will truly be prepared before you acquire your first investment. (also no one is ever 100% prepared for their first).
Good luck!
Post: Chicago Duplexes Costing Models

- Investor
- Chicago, IL
- Posts 79
- Votes 62
Everyone brings up great points.
- What areas are you interested in
- What type of returns do you need to see
- What's your timeline
- What's your pricepoint / What can you afford
Chicagoland is difficult and the microeconomic and block/block nuances make a huge difference. You are doing the right thing by asking questions and preparing yourself before the move.
My advice is:
- Find a broker with Multifamily experience and has investments themselves
- Make sure your broker is educated in the areas you are looking in
- Build your team BEFORE you are ready (i.e. Broker, Lender, Contractors, Attorney)
- Join / Attend meetup groups in Chicago ANY chance you get
- Network with as many people that are successful in the asset class and unit count range you are looking for
Good luck with your search!
Post: Real estate license illinois

- Investor
- Chicago, IL
- Posts 79
- Votes 62
Hey @Riley Ricobene,
100% recommend online, self-study, at your own pace. You have 6 months to complete the program. I did it in under 2 months.
This is why I didn't do in person:
- Schedule restrictions
- Length of completion
- Learning environment (I don't learn well in classrooms)
The content is like the CPA exam, the majority of the material you will not use in practice AND if you do use it in practice you will have a managing broker and peers to guide you through everything in practice.
My tip:
- Take the class that best suits your schedule and learning process.
- Put heavier weight on where you will hang your license after
I have been with Kale Realty since Feb 2019 and I am loving every second of it. I was with a brokerage before that took advantage of my skills and offered 0 mentoring. It matters where you hang your license!
Good Luck!
Post: Chicago Multifamily Deal - Owner Occupied

- Investor
- Chicago, IL
- Posts 79
- Votes 62
Hey @Charlie S.! It's terrific you are reaching out for advice regarding your underwriting/analysis! May I offer some suggestions:
- Keep these questions specific to successful people in the market you want to invest in. There are so many nuances to local markets that "pro's" in other markets will simply overlook.
- There are many successful people and many great meetups to find mentors in. Create the networks so you don't have to use forums like this to ask VERY Important questions.
- Start creating your team now even if you are "not ready" to invest. It is never too early to build a team you trust.
I know you are asking if the "mechanics" of the analysis are right but it just sparked a couple of thoughts. I hope they helped!
Post: 1st investment property.....

- Investor
- Chicago, IL
- Posts 79
- Votes 62
Hey @Joanna Laguerre, this is a great question to ask and I am always happy people ask BEFORE they try to invest out of state. This is my opinion on the matter:
- Please all newbies reading this, DO NOT invest out of state for your first investment. (unless you have a pile of cash you don't mind burning)
- Investment properties take a tremendous amount of work. Yes, there are glamorous success stories but think of REI platforms like Instagram. 90% of the time you are only hearing about the glitz and glamour. Newbies do not see what it truly takes to stabilize and operate properties.
Ask yourself these questions first:
- What do I actually know about that market?
- Do I have a team I can trust, if not, how am I going to build a team?
- What if my property manager is not doing his job, how will I check on the asset?
- What if my property manager and/or handymen are ripping me off? Who is checking their work?
- How do I know that the team I have is acting in my best interest?
- Is it feasible for me to fly back and forth to Ohio (multiple times) while my asset is being stabilized?
There are so many other questions and scenarios that can make your life extremely difficult! Think of it like this, you have never played baseball in your life but you want to pitch in the Major Leagues for your first game.
Yes, there may be a success story or two out there but please read between the lines and look beyond the surface. There is always much more to the story.
Good luck in your future endeavors!
@Mani Poudel sounds like you are in a terrific position! There are a lot of great answers above and I am happy to hear you already have friends paying a portion of your mortgage. To answer your question:
- You can only buy ONE primary residence each year. A primary residence is the MAIN home you inhabit, so you can see how a lender would say it is impossible to own multiple "primary" residences at once.
- You can still take advantage of terrific financing after each "seasoning" period. You have to satisfy the occupancy contingency but afterward, you are eligible for additional Freddie / Fannie - owner occupant loans. People LOVE this strategy because the low amount of capital necessary to obtain an asset. You are allowed up to 10 of these loans in a lifetime but I hear lenders can make your life difficult around 7-8.
- If you purchase another investment property during a "seasoning" period or do not qualify for another owner occupy loan you must use a commercial loan. Commercial/investing loans are typically a 70% LTV so you can see how that is less attractive than 96.5% LTV! Shop around though, there are a lot of terrific lenders that will offer 80% LTV.
My best advice is KEEP AT IT!! You're doing a great job and at least trying! Everyone starts somewhere. You will make mistakes but learn every step of the way. Also, this is how people find their passion in real estate. If you try handyman work and still find yourself hating it, this is part of the job that you should delegate. Find what you enjoy and become laser-focused then build a team that can support your weaknesses!
Post: Leaving Your W2 Job to Pursue RE Full Time

- Investor
- Chicago, IL
- Posts 79
- Votes 62
@Account Closed, I've finally decided to leave my W2 job! I will be putting in my notice this Friday. Let me tell you my story:
- I started investing in real estate in August 2017. My wife and I found our first owner occupy. At the time we were both w2 employees individually making 6 figure salaries. I want it to be clear we had built substantial savings and were financially secure from the beginning.
- In September 2017, we helped create and now run a successful Multifamily Meetup Club. Through this, we have grown our network exponentially. We've met mentors, partners, clients, lenders and have built a substantial team.
- I obtained my broker's license in 2018 and passively have sold about $2.5m in real estate.
- In 2019 I started a construction company. I incorporated in June 2019 and have grown exponentially.
- Between these two additional streams of revenue, I've made an income equal to an additional w2 job.
- We've acquired 12 units, solidified lines of credit, built relationships with lenders and are 100% certain if I leave my w2 it will not hinder our ability to acquire more properties (any more than running out of capital will)
My construction business is now taking my full attention away from my 9-5 job. I work remotely as a Sales Rep for Enterprise clients. I've decided to leave the W2 because I feel I am established in the industry and have enough momentum to push my real estate career further. Another KEY fact: My wife and I invest together! She is on the same page, sees my work ethic, and we have made the choice TOGETHER. She is also retaining her 9-5 as a stable stream of income.
My tips:
- Have an exit strategy with a strong plan.
- Build the relationships you need to be successful
- Make sure leaving the 9-5 doesn't inhibit your ability to acquire properties
- MAKE SURE REAL ESTATE IS YOUR TRUE PASSION
I understand I may have missed a lot here. The story sounds much easier than its been building to this point.
Thank you for listening to my story.
Post: Chicago Hard Money Lenders for Light Rehab

- Investor
- Chicago, IL
- Posts 79
- Votes 62
Post: Chicago Hard Money Lenders for Light Rehab

- Investor
- Chicago, IL
- Posts 79
- Votes 62
Vincent Pace - Albeca Financial
Rick Miranda - Barnett Capital
Brandon Harrington - Constructive Loans, LLC
Danny Margolis - Renovo Financial