I have an opportunity to purchase an investment property that is NOT ON THE MARKET yet.

I’m currently diving into the world of rental property investing and exploring opportunities in my local market.

As we wrap up the year and look ahead to 2025, the real estate market continues to present unique challenges and opportunities for investors, brokers, and lenders alike.

Also, for those whose BUSINESS (as opposed to just investment) is STR, they can scale successfully while their experience and knowledge of the industry may allow them the opportunity to uncover and recognize those few opportunities that will provide a much higher than market risk adjusted ROI. 

.✅ Stronger Tenant Relationships – Being involved directly allows you to build rapport with your tenants, which can lead to better communication and longer leases.Cons of Self-Managing❌ Time-Consuming – Dealing with maintenance requests, late-night emergencies, and tenant disputes can quickly become a second job.❌ Legal Risks – Chicago has strict landlord-tenant laws.

There is a State of Emergency in effect and anti-price gouging laws apply.

I would love to connect and discuss RE opportunities here.  

Once you've done that for a couple years, you should have an emergency fund and the money for a downpayment.

The HELOC would act as en emergency way to tap into their equity if needed - as long as they don't spend it unwisely!

Trying to save $$ so I can prepare emergency funds in case of any major repairs etc .