Aug
28

Chicago Real Estate Investors Changing Strategies

August 28, 2011

If you’re an investor in the Chicago real estate market, you probably remember the days when you could buy a home, fix it up a little, and flip it for a nice profit. This “strategy” was used by many investors and homes were selling like hotcakes. Of course, before the market collapse, demand was high and loans were plentiful. Part of that demand was created by people transitioning from renting to owning.

Anyone reading real estate headlines today knows that this scenario doesn’t really hold true today. On the

Equifax Personal Finance Blog, real estate investor and RealtyJoin.com co-founder Andy Heller discusses the need for today’s investors to change tactics. His article, “

Prepare Your Real Estate Strategy Before You Buy,” examines how the market has changed and how to be successful even in today’s economy.

According to Heller, more people are looking to rent than own. In fact, he reports seeing projections of up to 5 million new renters within five years. Because of this shift, Heller suggests that investors become landlords. If the thought of dealing with tenants sounds like a persistent headache, lease options may be the way to go. With lease options, there are several advantages, including the potential for the renter to buy the home after a set time period.

Because these types of agreements put the responsibilities of upkeep and repairs on the renter, playing landlord may not be as bad as you think. Plus, the potential for homeownership means your renters may take those responsibilities more seriously.

To read more of Heller’s thoughts on real estate investment, visit the

Equifax Personal Finance Blog.

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

4 Comments

1

[...] Chicago Real Estate Investment | Equifax Personal Finance Blog … Posts Related to Chicago Real Estate Investment | Equifax Personal Finance Blog …Chicago Real [...]

2

[...] via Chicago Real Estate Investment | Equifax Personal Finance Blog | Chicagoland Real Estate Forum. [...]

3

Thanks for the advice on investment.People who want to buy house will get a lot of help from that.

4

I think it’s not only true in Chicago that you can easily flip a home for a profit. It just shows how the business is ever changing.

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