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Hey fellow suburban Illinois BPers - Not sure if this has been sent/shared previously, but thought it'd be good to recap - Chicago Agent Magazine recently reported that suburban Chicago was ranked the second-hottest rental market in the nation (Here’s the article.).This confirms what a lot of us have seen: demand for rentals is really strong in the suburbs right now.

A knowledgeable attorney can advise here.Create a solid operating agreement: Since you own the condo with a friend, a clear operating agreement is essential to outline responsibilities, decision-making, and profit-sharing for the LLC.To save on costs:Look for real estate attorneys who specialize in investment properties and might offer package deals for the retitling, operating agreement, and filing the LLC.Shop around for title companies that can handle the transfer smoothly and provide competitive rates.Research DIY options for setting up the LLC if your situation is straightforward, though I’d still recommend a lawyer for the transfer process itself.Good luck with the process!

Would you mind sharing the cost?

Will people share how much money they raised?

I want this to be an open discussion where we can all share resources and insights to help brokers build and grow their businesses in 2025.

Then I would share those numbers with dad.

Do you mind sharing the name of that type of loan/lender that allows you to have the seller carry on a second position?

I can share what I have read so far and what I plan to read later.

Appreciate you sharing @Henry Lazerow!