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: David Hill PhD,ePro,SFR,CIAS,BPOR,CNE Chicago Real Estate Agent
: David Hill PhD,ePro,SFR,CIAS,BPOR,CNE Chicago Real Estate Agent's Blog
: Tag "real estate investing"
real estate investing: Maximize Return by Assessing 'Highest and Best Use' - 05/12/12 06:57 PM
"The highest and best use" is a real estate appraisal concept designed to show the greatest value of a specific property. As an investor, you will find this concept useful in determining how to maximize your investment return. There are four tests each property must meet when determining the highest and best use:
Is it legal? Only legal uses add value to a property. Research into zoning restrictions may be necessary to determine the legal uses for a parcel of land.Is the use physically possible given the specifications of the real estate in question? An elaborate plan can become obsolete if … (0 comments)
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real estate investing: How to Profit by Investing in Cheap Properties - 04/16/12 06:56 PM
With the right information any investor can profit by investing in cheap properties. But remember you are making a long-term investment. Property values tend to increase over the long term, and acquiring tenants to help pay down your mortgage while you wait to sell makes this a valuable investment vehicle for the future. Know your home inspector Home inspectors know the building codes for your area and can offer invaluable advice about the integrity of your property's structure. Not all home inspectors are created equal. Some are qualified to perform WETT certification for wood-burning fireplaces, others have the training and … (1 comments)
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real estate investing: Why Due Diligence Is Important for a Seller - 03/22/12 06:13 PM
If you're selling a property, you need to do your due diligence. It not only protects you from the unexpected, but the information might help you sway a potential buyer.A seller who knows every detail about a property can influence a buyer's perception of the value. Following are four areas you should check before you list a property for sale:
Environmental Investigation of Your Property: Regular monitoring should be considered, as it serves as proof that the area is free of harmful contaminants.
Deed, Survey and Legal Description: Ensuring that the deed is, in fact, in your name ahead of time will save … (1 comments)
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real estate investing: Tips for Buying That First-Ever Income Property - 03/15/12 08:06 PM
First-time investors with limited income or reservations about real estate investment often start with an income property that can serve as both their residence and a source of income. This is an asset for first-time buyers with limited income as well as an opportunity for new investors to jump into the real estate market. Following are a few tips that first-time investors need to be aware of when buying a home with rental income:Research the Neighborhood: Areas where there is substantial investment being made usually indicates that a neighborhood is on the upswing. The potential for appreciation over time is as … (4 comments)
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real estate investing: Real Estate Investing - Get the Most Out of Your Property Portfolio - 01/20/12 08:20 PM
With the uncertainty of global financial markets, investing for the future has never been more important. Developing a portfolio of income properties can ensure residual income for your future and that of your children. Following are tips to maximize your investment dollar and ensure sound retirement income with minimal effort:Make Sure the Tenants Pay the Mortgage: The rental income should be high enough to cover the monthly costs but low enough to be competitive. Closely inspect the income and weigh that against the potential expenses. Taxes, mortgage, hydro, maintenance and heating costs all take away from potential profits, so it is important … (1 comments)
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real estate investing: 3 Key Questions to Ask Potential Commercial Tenants - 12/30/11 03:57 PM
Qualifying commercial tenants can be a difficult process. Dealing with businesses that may have no history or individual business owners who may not have experience running a business can make it difficult to select tenants. Following are three questions a landlord needs to consider before leasing a commercial space to a tenant:1. Is the business owner serious about moving or expanding his or her business? Both established and new business owners have their own motivations for selecting a space to lease. Does the lease offer options for future expansion of the space? As the landlord, you want to ensure that the … (0 comments)
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real estate investing: Unlock a World of Real Estate Wealth - 12/21/11 09:27 PM
With interest rates at historic lows, and incredible bargains available in our local market, more and more of my clients are investing their money in real estate. Watch this short video and find out how almost anyone can get started today with very little down!
Then contact me at 224-321-0699 of dave@MidwestPremierRealty.com for a FREE consultation and to get a list of investment properties currently available in your area.
… (1 comments)
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real estate investing: 5 Ways to Take Advantage of the Current Market - 12/15/11 11:46 AM
Real estate remains a bargain in much of the United States. For many home buyers this is the ideal time to jump into the housing market with a long-term investment strategy. Following are five tips to help you take advantage of a down market. Use a Buyer's Agent: A buyer's agent can help you navigate a rapidly changing marketplace and let you know how to maximize your real estate dollar. Get Preapproved for a Mortgage: Sitting down with a mortgage professional before you begin your search will help refine what you are looking for. This will allow you to set your budgets … (0 comments)
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real estate investing: Why it Pays to Use a Buyer's Agent - 11/22/11 09:38 AM
These days, a click of the mouse can open a world of dream homes to you. But when you're facing down a determined seller or trying to figure out what to offer, it literally pays to have a buyer's agent on your side. Real estate is all about negotiation. On one side there's the seller and his or her listing agent, who is bound by a legal agreement to represent the seller's interest. On the other side is the buyer - you - who wants to walk out a winner, having paid a price you're comfortable with for a home you love. … (0 comments)
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real estate investing: Tips for Tapping into the Student Rental Market - 11/18/11 10:21 PM
Savvy investors have created a boom in residential investment properties. Historically low interest rates and a surplus of multiunit properties are driving the charge.Investors who have rental properties in a college town have an opportunity to tap into a stable source of long-term residential tenants by focusing on features that attract the student population.Transit, amenities and favorable lease terms are key factors in attracting good-quality tenants in a college town. Following are some tips for residential property investors:Consider Offering Short-Term Leases: Although some students are looking for year-round accommodation, many are in town only for the school year. Students can be attracted … (2 comments)
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real estate investing: How Investing in a Down Market Can Pay Off - 11/15/11 07:44 PM
Historically low interest rates and surplus resale commercial property have made this an ideal time to plan for future growth and make profitable long-term investments in commercial real estate.
There are several benefits to having solid investment strategies in any market, but the following five tips can help you ensure that the properties you select will make you money now and in the future.
Recognize the Benefits of Investing in a Down Market:
When investing in a down market, the obvious benefits such as low interest rates and falling property values attract many budding investors.
The less obvious benefits are equally … (2 comments)
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real estate investing: What You Should Know About FHA Rehab Loans - 11/12/11 10:20 PM
The Federal Housing Administration’s (FHA’s) 203K loan for repair and rehabilitation of houses is a great program for both real estate agents and buyers.
A 203K FHA loan helps clients purchase homes that are often in need of major repairs to the structure, windows and even major components such as furnaces.
The loan enables clients to roll both the price and repairs into one mortgage.
This product is unique in that many properties that are eligible for this program would have no chance of ever being able to be financed by either a conventional or traditional FHA mortgage.
Understanding this fact … (2 comments)
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real estate investing: How to Squeeze More Out of Your Assets - 10/28/11 12:12 AM
Investors and property owners alike can take advantage of land leases. Larger retail outlets, for example, sometimes lease extra parking area to another business interest.The concept began as the Lend-Lease program during the Second World War. While the program started as a means of providing aid in the form of supplies and goods, air bases were leased to facilitate the transport of those goods. This system bred the modern land lease we use today.The following are a few types of commercial land-lease options:Aviation: While the concept evolved from military air bases, commercial airports lease land for complementary purposes. A popular format … (0 comments)
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real estate investing: Better Accessibility is Good Business Sense - 10/25/11 09:38 PM
Many Americans face accessibility challenges every day while doing regular activities.Although the Americans with Disabilities Act (ADA) Accessibility Guidelines for Buildings and Facilities provides nearly 150 pages of information, it isn’t written from an investment perspective.By meeting the needs of individuals with disabilities, you can increase your business and even the value of your property.The following are a few key areas to consider when making your business more accessible.Parking: The ADA requires a minimum of one accessible parking space for every 25 parking spaces in your lot. If your lot has fewer than 25 total parking spaces, then one accessible space must … (0 comments)
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real estate investing: How to Bargain for a Lender-Owned Property - 10/24/11 08:11 PM
There are bargains to be had in today's depressed housing market. When buying a lender-owned property, though, you need to be especially savvy to come up with an offer that will satisfy the beneficiary bank or agency.First, be aware that lenders are anxious to sell what is now a nonperforming asset. They also don't want to lose much on the deal. That means you'll have to submit a particularly well-thought-out offer on a real-estate-owned home. Following are strategies to consider:
Ask your buyers' agent to find out the bank's purchase price for the property. Offer an amount that is between the … (3 comments)
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real estate investing: How Wi-Fi Can Help Landlords Attract New Tenants - 10/12/11 09:17 PM
With our increasing dependence on Internet access, commercial landlords have the perfect opportunity to attract new tenants.
Offering Wi-Fi access is a relatively inexpensive and easy way to attract new tenants and retain high-quality existing tenants.
Wi-Fi is attractive to all levels of commercial tenants, as it has benefits for tenants as well as their customers.
When first looking into setting up a wireless network for a commercial building, the landlord must ensure that the infrastructure is in place. The size of the structure will determine the cost of the system required to offer a stable Wi-Fi network for tenants. The … (4 comments)
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real estate investing: Thinking of Buying a Rural Getaway? Three Vital Tips - 10/12/11 07:33 PM
For many, the dream of owning a rural “home away from home” is something that began in childhood.
Before you buy, however, you might want to answer the following questions:
How Far Away Is It? If you must travel two days by rail, then take a four-hour hike through the woods with a toddler strapped to your back, you may want to seriously reconsider the purchase. Ideally, you should be within a few hours of your home. If electricity is a serious consideration, you should make it clear to your real estate agent that you are not interested in properties off the … (0 comments)
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real estate investing: Parking Choices Can Make or Break a Business - 10/11/11 10:50 PM
Everyone has heard the saying that in real estate it's location, location, location.This may work well for the landlord in the short term, but what about parking for tenants and customers?Property and business owners alike both suffer when parking is inadequate.The following information outlines the risks and benefits of different types of parking:Street Parking vs. Private Parking Lot: The main benefits of choosing a site that offers only street parking are that parking enforcement and lot maintenance are typically assumed by the municipality, saving you the hassle and expense of monitoring your lot.There are a few drawbacks to street parking, though, that … (0 comments)
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real estate investing: Choosing the Right Location for Your Business - 10/11/11 10:41 PM
For property and business owners alike, the location of a property plays a key role in the success of the business. Industrial property owners want areas with additional hydro and water access, retail outlets desire more foot traffic, and office owners want access to public parking and the amenities that attract professional clientele.The best locations often have a premium cost, depending on the local market, and those costs need to be carefully weighed against the benefits. Following are three criteria to help with location selection:Assess the Business Requirements of the Development Carefully: Every property owner has a wish list of what he … (3 comments)
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real estate investing: Proper Real Estate Investing Starts with a Plan - 10/05/11 08:50 PM
Whether you’re a seasoned investor or just exploring investment opportunities, you won’t get very far without a plan.
Successful investing starts with thinking about a goal, then mapping out a route to get there, leaving room for the inevitable obstacles that get in the way.
Your Plan
Ask yourself why you want to invest in real estate? Is it passive income? Do you want to be a full-time real estate investor?
One way to get clear about your wants is to visualize your future and write out what it looks like. Following are a few things to think about:
… (1 comments)
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David Hill PhD,ePro,SFR,CIAS,BPOR,CNE Chicago Real Estate Agent
Gurnee,
IL
More about me…
Midwest Premier Realty, Gurnee IL 224-321-0699
Address: Gurnee, IL, 60031
Office Phone: (224) 321-0699
Cell Phone: (224) 321-0699
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