Property Report 3- Exit Strategy - 03/29/10 04:08 PM
Property Analysis technique #3: Pricing
There are, we think, three keys ways of evaluating each property you look at. This blog covers the last of the three, which is EXIT STRATEGY. Other blogs cover WORK NEEDED and PRICING.
3.  "Exit Strategy." How long will you have to hold the property? Can you rehab and flip it? Are prices and rents rapidly rising? How soon will the area support higher end use (owner-occ vs. rental or condo conversion)? On the other hand, if you see NO quick ‘exit strategy,' you must be prepared to hold the building for some time.
If you … (0 comments)

Property Analysis technique #2: Pricing - 03/26/10 03:30 PM
Property Analysis technique #2: Pricing
There are, we think, three keys ways of evaluating each property you look at. This blog covers the second of the three, which is PRICING. Other blogs cover WORK NEEDED and EXIT STRATEGY.
2.   "Hot/Warm/Cold Analysis." There are four main factors in multi-unit real estate: Location, Size, Condition, and Price. On balance, how would you rate this property?
 
And this is just the start of what you'll find at www.Chicagoland2to4Flats.info!!!
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South Shore Activities - 03/25/10 12:30 PM
South Shore Cultural Center has many ongoing programs for all ages.  For details, see the Chicago Park District website.
Visit us, and see what you'll find at www.Chicagoland2to4Flats.info!!!
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Property Analysis technique #1: Work Needed - 03/23/10 05:58 PM
Property Analysis technique #1: Work Needed
There are, we think, three keys ways of evaluating each property you look at. This blog covers the first of the three, which is WORK NEEDED. Other blogs cover PRICING and EXIT STRATEGY.
1.   Work Needed. How would you assess the property's condition? For older 2-4 Flats, based on the chart that follows, 50K or less over the next 5-7 years is "little or no work", 100K is "some work;" 150K up is "Gut Rehab."

If you want to see the full sheet that lists all THREE key was of evaluating a property, click … (1 comments)

Property Analysis Worksheet - 03/22/10 04:51 PM
With 2- to 4-flats, cheap properties don't always perform worse than expensive ones (or better, for that matter). Instead, some less expensive properties perform well, but not all; some expensive properties sparkle, but others don't. In short, in this market you can't easily correlate price and value.
Check out Chicagoland2to4Flats.info Tools/Resources and you will see how Property Analysis Worksheet can help you in this regard. It will let you quickly compare listings to see the kind of value they offer.
 
But before you start working with the worksheet, we encourage you to click on each of these two hyperlinks, "Worksheet … (0 comments)

Other Resources - 03/19/10 01:59 PM
Our website, www.Chicagoland2to4Flats.info, has a page called "Other Resources" with these links on it:

Rehab Checklist from CIC
We highly recommend that every prospective buyer download this 12-pg power-packed guide to repair costs. It is produced by the Community Reinvestment Corp of Chicago. CIC specializes in larger apartment buildings, but we think you will find this guide applies to any older building. We add this recommendation: Steve Hier, a leading property inspector in Chicago, says that he has found this guide to repair costs to be very accurate: We would add: we have never seen a better concise guide to … (0 comments)

An Area with Many Investment Properties: Englewood - 03/08/10 02:16 PM
Chicago.  Originally, the land was swampy prairie occupied by the Mascouten Indians. As Chicago grew, it became a center for railroads. When the Great Chicago Fire destroyed a large portion of Chicago in 1871, residents moved to the outskirts. Englewood's railroad connections to downtown Chicago made it a convenient location, and the neighborhood's population boomed. The City of Chicago annexed Englewood in 1889.
It is written up on the city's official site at :http://www.chicagoneighborhoods.cc/neighborhoods/englewood.html 
"Englewood is one of Chicago's comeback neighborhoods, thanks to a series of strategic public investments..."
The Encyclopedia of Chicago, compiled by the Chicago Historical Society, has an … (0 comments)

Mortgage 101: #9 – NON-Owner-Occupied Financing - 03/05/10 01:55 PM
This blog post is #9 in a series we call "Mortgage 101." To see the whole Mortgage 101 document, click on this link:
Mortgage 101
 
Here is a link that will take you to the Tools / Resources page of the Chicagoland2to4Flats.info website-where you can see and print:
Current Loan Matrix
 
And this is just the start of what you'll find at www.Chicagoland2to4Flats.info!!!
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Mortgage 101: #8 –Owner-Occupied Financing - 03/02/10 06:07 PM
This blog post is #8 in a series we call "Mortgage 101." To see the whole Mortgage 101 document, click on this link:
Mortgage 101

 
Here is a link that will take you to the Tools / Resources page of the Chicagoland2to4Flats.info website-where you can see and print:
Current Loan Matrix
 
And this is just the start of what you'll find at www.Chicagoland2to4Flats.info!!!
 
… (0 comments)

 

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