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Featured Topic in Realtor Magazine: Secrets to Today's Today's Investment Market and Top 10 Pitfalls to Avoid by Akos Straub & Vince Milito
We founded our real estate development and investment firm, Restoration Remedies, LLC, around charting the complicated waters of distressed property flipping. Our firm rehabs distressed residential properties that enhance home values and neighborhoods throughout chicago and the suburbs. We maintain a solid team that identifies good investment opportunities every week and works together to make smart strategic decisions.
If you are an agent looking for the right investment property, be sure any distressed properties you consider meet important criteria, including standards you’ve set for location, condition, layout, purchase price, construction cost and resale price. Our company uses the same criteria. The location must be in an area we deem desirable, as the surrounding neighborhood always impacts the value of real estate. Assessing the strength of the local economy and school district are also necessary factors.
When choosing a home to rehab, we recommend not looking for teardowns. instead, seek properties with “good bones.” it’s for this reason that our company typically buys brick homes with practical layouts, three bedrooms and two bathrooms -- or at least space to add a third bedroom and second bathroom.
Acquiring the home is the most important part of the entire investment process. The goal ... more
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