Where To Find Investment Properties in Chicago
You may be interested in buying investment property in Chicago, but do not have a clue how to get started. Buying investment property can be confusing and, worse, turn out to be unprofitable if you don’t know where to look for cheap investment property. The good news is that plenty of cheap residential property exists, and that it’s easy to find once you know how.
It seems like talk about investment properties is all over the place these days, and perhaps you are skeptical of get-rich quick promises. But the truth of the matter is that real estate investment property is one of the few investment strategies where you can generate $10K or much more in your first month of investing. With property investment, you can continue to profit like this on a consistent basis. Wouldn’t it be nice to have that kind of cash flow on a regular basis? It’s possible with real estate investment property.
There are two main ways that experts profit from investment properties. The first is called “rehabbing” and has grown popular with the recent real estate boom. Rehabbers buy investment properties, make repairs and cosmetic upgrades, and then turn around and resell the home. It’s crucial to turn the investment property around as quickly as possible, so that you don’t get stuck carrying costs. The faster you can turn around a cheap investment property, the better your profit will be.
The next way is buying real estate with the intent of keeping it as income properties. Buying investment property for this purpose is excellent for consistent cash flow and to accomplish long-term wealth building goals. Whether you decide to buy residential investment property to hang onto for the long run or cheap investment property is up to you. Many experts advise that combining the two types of real estate investment properties is the wise way to go.
Investment property sales can be a confusing world to dip into if you don’t know what you are doing. There are so many different kinds of investment property for sale, including HUD, MLS and foreclosures. These are all wonderful sources of cheap investment property, but be advised that all the other investors are onto them, too. It’s not unusual to have dozens or even hundreds of buyers vying for the same piece of foreclosed property. Their popularity has also driven up costs. It’s very important to keep in mind you need to buy investment properties for the best price possible.
Fortunately, there are other options besides foreclosure auctions and HUD listings. Pre-foreclosures, or what we like to call motivated seller leads, are an excellent source for investment property sales. These homeowners have defaulted on mortgage payments, but are not yet in foreclosure. As you can imagine, they are generally eager to sell quickly and cheaply. Another great source of investment properties are wholesale deals. These are properties being sold at deep discounts by other real estate investors, usually in need of rehab.
The best place to find these motivated sellers are at www.myhousedeals.com. Our service updates the list of pre-foreclosures and the list of wholesale deals every day, and sends it directly to your computer with everything you need included—the location and seller information as well as details of needed repairs. Become a member for free today by clicking the button below!