For Chicago Real Estate Investors
In our opinion, investing in new Chicago homes or condos can be a great way to invest in single family investment homes. Done properly, you can lock in on a price for an exciting new Chicago home community and make no payments on a mortgage until the property is completed. If an appreciation rate for a certain area is around 5%, your $200,000 purchase for a brand new Chicago home could be worth $210,000 by the time you close escrow and it gives you time to find a tenant to put into the new Chicago home or condo when it is completed.
New Chicago Subdivision or a New Chicago Community?
Many new Chicago home builders are building communities and not just subdivisions with amenities not found in older communities. These particular communities have the potential for a higher appreciation rate which means a better investment for you. Understanding the differance between a community and a subdivision is absolutely key for your New Chicago Home purchase.
Pre-Construction or Pre-Sales Opportunities
We work with several new Chicago home and condominium builders and keep on top of new developments not only in Chicago, but we do have connections to new home builders in Las Vegas, Florida, Georgia and multiple other areas. Some new home builders need a certain amount of pre-sales before they can get a commitment for construction financing and in order to obtain this, they'll offer Pre-Construction pricing or Pre-Sale incentives.
Our latest opportunities came from a new Chicago condominium developer offering guaranteed leasebacks on the units for two years. Unlike several new condominium developers around the country offering this, these units were at market value and not inflated prices. This is a big key in determing whether it is a good investment... or just a gimmicky marketing technique.
Before you even Consider Investing in New Chicago Construction
You need a firm grasp on your financial capabilities including down payment and credit scores. We can't determine that for you or even know where to begin in searching over 3,700 new Chicago home/condominium prices and floor plans until we know this information. Analyzing our calculations such as Before Tax Cash Flows (BTCF) and After Tax Cash Flows (ATCF) is impossible to accurately determine if real estate is really a good investment... or not.
Is Real Estate really a Good Investment?
In our opinion, long term investing in residential real estate is one of the greatest wealth builders that the average investor can participate in -- if done properly. This means much more then just a generic statement that purchasing real estate is a good investment. It involves several calculations, determing rental values and the proper amount of leverage to use in your new Chicago home or condominium purchase.
Why use a REALTOR for Your New Chicago Home Investment?
Simple. We can analyze surrounding resale values, help determine accurate rental rates and prepare calculations for you absolutely free of charge. We have experience in single family investment and have helped multiple clients build their portfolios into owning multiple investment homes. We also periodically analyze all of our clients properties to make sure their equity ratios are not too high - which basically means too much equity can actually be dragging down your investment return potential. When this happens, we can help you move up the investment ladder through our experience in 1041 Exchanges.
We want you to succeed and help you build a real estate empire - the right way!
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