That way you have a fallback plan if it gets overwhelming. 6.

Originally from Africa, I’ve embraced new opportunities to build a better future, and real estate is at the core of my financial freedom plan. 

Quote from @Joe Paasch: I have joined this site to gain important incites, discussions and plans to build a successful portfolio.  

I do not have the capital for the property to pitch in, so I plan to use the investors money to secure the property.The interest rate that I will pay the investor is 5% for up to a duration of 20 years.

If you can find a fixer at a good price, with room for an ADU, and the comps are good, then you have a deal.Are you planning on flipping or long-term holds?

Even if you plan to self-manage, having a solid property management contact early on is always a good move.

We are also planning to start spending winters in warmer climates... 

You Can Only Have 35 Non-Accredited InvestorsRule 506(b) allows an unlimited number of accredited investors but restricts you to only 35 non-accredited investors.However, there’s a catch:Non-accredited investors must be financially sophisticated.They must have enough experience to evaluate the investment risks.From the SEC:“Securities may not be sold to more than 35 non-accredited investors… [who] must meet the legal standard of having sufficient knowledge and experience in financial and business matters to be capable of evaluating the merits and risks of the prospective investment.”If you’re planning to include non-accredited investors, make sure they qualify—or you could be violating SEC rules.3.

This is the graveyard of great ideas, plans, hopes and dreams that were never done.

.✅ Hands-On Experience – If you plan to grow your real estate portfolio, managing tenants yourself can teach you valuable lessons about leases, maintenance, and local rental laws.✅ More Control – You’ll personally handle tenant screening, rent collection, and property upkeep, ensuring everything is done to your standards.✅ 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.