Hello everyone,
My name is Kevin and I’ve been interested in RE investing for some time. I’ve been saving for a while and have some money to start with (about 30K) and I’m going to be moving to Chicago in about two months. I’ve been looking for residential investment properties in the 2-4 unit range to start. I have a couple of problems though…
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I can’t seem to find a place that is anywhere near positive cash flow. Cap rates seem to be consistently in the 5% range (I’ve been searching on Loopnet). How does anyone make any money?
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I have finance problems. I have no credit as I mainly pay cash for everything. I plan on moving before I get a job and my goal is (or was) to buy my first property and occupy one of the units. Can anyone make any recommendations about my situation here?