203K with Illinois Land Trust

[Robert Hursey]

My brother and I are investors in Illinois looking to purchase a multi family with one of the occupants being our parents. Since they will be living there, could they buy the property and put it in an Illinois land trust with my brother and I as beneficiaries? That way, sons pay for the down payment, make the payments, parents are the residents, and sons acquire ownership in the future. Would this work?

[Michael Shear]

This is a very interesting post. I have been trying to ask around about investing using this type of strategy. I hope you find an answers, because it will lead to me having an answer as well. Good luck on your investments!