Investment Info:Single-family residence buy & hold investment.

Investment Info:Single-family residence buy & hold investment.

This is an investment property (buy/hold) that I'm planning to develop considering the new 2020 laws.

My main goal is to successfully house hack and start building long-term wealth through real estate.How I Got Interested in Real Estate InvestingI got interested in real estate after learning about house hacking and seeing how it can be a smart way to build financial freedom.

If so, consider adjusting your rent or offering incentives like flexible lease terms.

We are considering building and holding townhomes but need to determine the costs.  

You’ll need a real estate attorney experienced in creative financing.Land Trusts for Extra Protection – Many investors in Illinois use a land trust to hold title when doing subject-to deals.

Don't be discouraged by the lower returns—house hacking is often about long-term wealth-building, and your primary residence can offset some of those mediocre numbers.Make sure you're accounting for local trends and realistic rents—sometimes expected rent growth is overly optimistic, or costs like repairs might be underestimated.

It has a text capability.With that said, I'm spending a lot of time in Twilio right now as I see huge upside coming in that platform.You could be up and running with Podio & Globiflow for text within a very short time.

It's not going to play out exactly like you hopedIf you have that mindset, not only will you have realistic expectations, but you'll create success over the long term.