New to House Hacking Chicago!

[Shannon Spea]

Hi!

I’m new to real estate investing and looking to do my first hack. For context, I accepted a job offer for a company located in southern Illinois. I could commute since I would only need to be in office about 8 days a month but I know that long drive will get tiring quickly. I own a 3br/1.5 ba home in Milwaukee that’s got $100K mortgage, city assessed at $169K with homes in my area going for $200K-$225K. Because I got in at a great price and a marvelous rate I don’t want to sell.

That said, I’ve been thinking this might be a good opportunity to look into house hacking or mid term rentals in Illinois but I don’t know where to start! I’d like to stay near my job but also want to make sure it makes sense investing wise as well. I’m looking in Oak Park, Cicero, Berwyn, Naperville or Downers Grove right now. I’m giving myself a 12 month timeframe since I can commute and it gives me time to make a good financial decision vs rushing.

Any thoughts guidance or just kind words are appreciated!

[Jeremy Jareckyj]

I was born and raised in Illinois. I live in salt lake now but I have a great contact there who is super knowledgable about the STR/MTR space in illinois. Happy to share him with ya!