It used to be my job to protect our celebrity clients from so called investment specialists who promised more than the investment was worth and delivered less or nothing at all.

Those types of things can throw curve balls but in my opinion, at the end of the day it wouldnt be worth much without friends and family and I understand his loss.  

I understand the hesitancy to lease to students but vacancy is so low, that if you can handle a few headaches, it's worth it. 

Either way, with rent and price appreciation, tax benefits, holding long term is a net worth exploder.

Quote from @Rachel Jane: First post, no idea what I’m doing, lolMy grandfather passed away and left me his condo, which is fully paid off (and located in a seniors residence) It’s worth approx $500,000 (CAD).

The only slight red flag was that they only accepted payment via Venmo or wire transfer, but that's how I accepted payment when I was selling lead bundles, so I still thought it was worth a shot.

Except -- it could be worth more if I put it somewhere else.

Quote from @Louis Hamilton: The property is worth around 800,000 and has no mortgage on it.

I have an interior design background and can make this property really cute, but is it worth it?

Some lenders allow exceptions for transfers to LLCs owned by the borrower, but it’s worth confirming first.Explore transfer tax exemptions: Chicago doesn’t make this easy, but there may be exemptions or reductions for certain types of ownership transfers.