Naperville residential real estate lawyerDuring the housing market crash of 2017, investors flocked to pick up every distressed property that they could find. Many sold their assets to other investors. Others remodeled the properties and rented them out, securing themselves a fairly steady cash flow. Still others decided to “flip” their houses and sell them. This last group of investors, otherwise known as “house-flippers” have become commonplace in the last decade, but with fears of a market cool-down mounting, many are now selling their assets and bowing out. Should you do the same, or is now the time to hold onto your assets?

The answer to this question may depend greatly on your current situation.

Profit Margins Shrink as the Cost of Repairs and Mortgage Prices Rise 

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Naperville commercial real estate attorneysWhen a real estate investor wants to achieve a profitable return on investment (ROI), it is important that they consider a number of variables and factors related to the property. The projected growth of an area, which is arguably one of the most critical factors in this equation, can be extremely difficult to determine, as the economy and access to jobs can change dramatically over the course of just a few short years.

Information, recently released by the Environmental and Energy Study Institute (EESI), the National Association of Realtors (NAR), and the American Public Transportation (APTA), suggests that access to public transportation may be useful in determining both the immediate growth and future growth in a given area. Learn more about the intricate connection between public transportation and real estate growth, and discover how a seasoned Naperville real estate attorney can help to increase your chances of a positive ROI on your next real estate project.

Public Transportation's Effect on the Real Estate Market

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Naperville residential real estate lawyersHouse-flipping, defined as a house that is bought, revamped, and then sold within a 12-month period, is now sitting at a 10-year high. Experts say popular television shows are at least partially responsible for this hike. Unfortunately, such shows do not give an accurate portrayal of the industry and the challenges that house-flippers may face during the house-flipping process. Educate yourself on the process, and discover how a seasoned real estate lawyer may be able to help mitigate the risks and potential issues you may deal with along the way.

The Pros and Cons of House-Flipping

Under the right circumstances, house-flipping can be a lucrative market. Unfortunately, all the professionals that are needed to complete the process - real estate agents and brokers, builders, construction crews, etc - cut into your bottom line. You can increase your profits by learning more about the industry and expanding your knowledge (i.e. becoming a real estate agent), but one cannot realistically handle all aspects of their deals.

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real estate development, Naperville real estate lawyersEven though the U.S. is well on its way to recovering from the recession, there are still investors who fail in the real estate development market. In contrast, there are those who consistently make money, despite any changes or fluctuations. The following strategies, employed by the savviest of investors, are often key in giving the latter their edge over the former.

Study and Know Local Pricing

Studying and knowing your local market is an invaluable strategy in real estate development and investment. Not only do you learn which prices are fair (which can assist in finding the best prices), you are also able to better stay ahead of the trends. Take, for example, an area in which home sales are accelerating at a faster rate than its neighboring towns or subdivisions; this can tip you off to areas that are currently in high demand.

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1755 Park Street, Suite 200
Naperville, IL 60563
Phone: 630-778-3818
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Oak Brook, IL 60523
Phone: 630-288-2555
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From our offices in Naperville and Oak Brook, Lindell & Tessitore P.C. represents clients throughout Illinois including the areas of Plainfield, Oswego, Aurora, Lisle, Winfield, Wheaton, St. Charles, Geneva, Oakbrook Terrace, Elmhurst, Hinsdale, Burr Ridge, Batavia, Yorkville, Downers Grove, Warrenville, Woodridge, Lemont, Romeoville, Joliet, Bolingbrook, Mokena, New Lenox, Frankfort, Channahon, DuPage County, Will County, Lake County, Kendall County, Kane County, Cook County, and the greater Chicagoland area.