BrentHall CS Blog
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View popular Chicago properties and real estate news including multifamily, single family, and condos in West Town Chicago, Logan Square Chicago, Wicker Park Chicago, and more.
BrentHall CS Blog
4M ago
Owning and operating income property is a proven method for creating wealth. Despite what you might see on late night t.v., real estate is not really a means for getting rich quick and first time investors can easily get in over their heads if they buy the wrong property.
Here are 5 red flags to watch out for when you're looking to buy an investment property.
1. Deferred maintenance
Deferred maintenance means only one thing, neglect. Typically, the current owner either cannot afford to keep up the property or they choose not to. The good news is, it's very ..read more
BrentHall CS Blog
4M ago
Using margin debt or borrowing against brokerage accounts is back in vogue in 2013. According to the NYSE, investors borrowed $384.4 billion against their investments in April 2013 eclipsing the previous all time high set in June 2007.
When you borrow on margin, you are pledging securities like stocks and bonds in your brokerage account to obtain loans from the brokerage firm. Typically, these borrowed funds can be used at the discretion of the borrower. For real estate investors, borrowing on margin can be a very appealing alternative to traditional bank financi ..read more
BrentHall CS Blog
4M ago
Chicago has been and continues to be a great city to invest in residential multifamily property. All levels of investors from mom and pop to professional firms participate in the large market, some with great success. The 70+ Chicago neighborhoods and differentiated building stock offer many living options to a diverse population. Here are 5 reasons to invest in Chicago real estate.
Broad Tenant Base
Chicago is home to a large population of renters representing the full socio-economic range. As an investor, you will want to choose a location that you are com ..read more
BrentHall CS Blog
4M ago
Getting into real estate sounds sexy, it’s fun to talk about socially and there’s no shortage of success stories to fuel your dreams of early retirement and a life of riches. What many fail to realize is that real estate is a hands on business that requires hard work despite the fact that you are trying to create passive income. Here are 5 profit killers to watch out for.
1. Overpaying
Overpaying is easy to do especially in the current market (2013) where buyer demand is outpacing supply by many times. You have to pay to play so to avoid truly overpaying, go in wi ..read more
BrentHall CS Blog
4M ago
These recommendations aren't page turners, they don’t tell you how to achieve maximum output with minimum input or romanticize someone’s rags to riches story. These books cover the basics and take you from a beginner level through an intermediate level of understanding of the basic principles of real estate investing, owning multifamily property and property management. If you read one of these books and second guess buying real estate for investment that just means you’re learning something.
#1
The Complete Guide to Buying and Selling Apartment Buildings – Steve Berges
T ..read more
BrentHall CS Blog
4M ago
Getting into the real estate business to fix up or rehab and flip property sounds great on so many levels. It can be a good way to make a living if you are successful and do it full time, a way to generate extra income outside of your 9-5, or just fun hobby if you have extra time, money and know-how.
It’s likely that anyone getting involved is looking to make money. Making money flipping houses isn’t that hard but making enough money to justify the risk and time involved can be. What do I mean by that? Consider an investor who has a full time job in sales, who wants to ..read more
BrentHall CS Blog
4M ago
Buyer expectations are really just a product of overall market sentiment. If the general consensus view of the market is positive, negative or neutral, most people who are actively in the market to buy at a given time will act accordingly. Buyers are certainly not working together but their collective actions produce and reaffirm a herd mentality that becomes a driving force in the market.
A Recent Example Fresh in the Minds of Most
The recent collapse in real estate values from late 2006 – 2012 won’t soon be forgotten. As property values peaked in 2006, there were signs of buyer f ..read more
BrentHall CS Blog
4M ago
You bought the income property, now it’s time to crack the whip and get it into shape. The sooner this is done, the sooner you can put things on auto pilot. First things first:
Notify tenants of ownership change & meet with them
This seems pretty obvious but it goes overlooked many times. Tenants are your customers. Happy customers pay on time, respect the property, and stay longer. As the new owner, existing tenants will view you much like the previous landlord. Regardless of the previous owner’s management style and tenant relations, it’s important to ..read more
BrentHall CS Blog
4M ago
Multiple bids are back in a big way and not just on distressed and bank owned property. Demand from buyers entering the market in 2012 is far outstripping supply across many asset classes. If you’re in the market to purchase income and multifamily property in Chicago and you want to compete, here’s what you need to do.
Step 1:
Understand that the market has shifted and this is no longer a buyers’ market for multifamily and income property in primary and secondary neighborhoods on Chicago's north side.
Step 2:
Talk to a lender. Get pre-approved by a strong lender ..read more
BrentHall CS Blog
1y ago
Volo Development’s latest Logan Square project, located at 3014, 3018 and 3022 W Lyndale Street, is bucking the slowing real estate trend in Chicago and selling at a fast clip ..read more