duplexIf one of your goals for 2019 is to become a real estate investor, you could probably not do much better than the charming duplex nestled between Highland Park and Oak Lawn — and since it’s well under $1 million and already leased, it’s probably one of the easier ways to enter the market.

Located at 3921 Hawthorne Ave., this upstairs/downstairs duplex was built in 1931 — meaning it has loads of character and charm. It’s also been well-maintained and has had many upgrades and updates throughout the property.

Each unit has two bedrooms and two full baths. Gleaming hardwoods throughout both units also make the homes feel light and bright, and attention has been paid to the finishes as well — this is no ordinary rental property. (more…)

9655 Lakemont Front

Sometimes investors start with a mixed bag of a home, where they could get by without changing the floor plan while making key upgrades elsewhere. Other times the whole home is due for a makeover, with no finish being spared. There’s a certain alchemy to flipping, though, and sometimes the formula bubbles over before it’s set right. However, this Midway Hollow home hits the high notes so well it sings like Mariah Carey.

Of course, this listing from Virginia Cook Realtor Maria Centeno is under option, but when you spot the perfect home for your family in a hot neighborhood like this one, you have to call Lisa Peters at Caliber Home Loans to make sure you can put in your highest and best offer before someone else does. Are you ready to find your high-caliber home? Contact Lisa today.

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kelly Logsdon Rush_one 001 rvsd 8x10_web sizeRemember Kelly Logsdon Rush? Teacher of the Year and my very first Real Estate teacher? Kelly is back with a somewhat regular little segment here on CandysDirt.com called “Ask The Teach”. I know a thing or two about real estate, but Kelly knows about five trillion things, so much, in fact, that she teaches RE at Champion School of Real Estate. So I asked if she would be our go-to, all-knowing Real Estate Oz. This week’s question comes from Brad Boswell at Supreme Lending. It’s aimed at the real estate professional, because Kelly teaches a whole class in investment real estate. In fact, she recently helped me remodel an investment property. She’s a great go-to source for questions on RE investments, tenant & landlord issues, managers, HOAs, commission splits, dual agency, consumer rights, you name it, you can Ask The Teach!

Question:  As a guest speaker in your Real Estate Finance Class, I’ve heard you mention many times that it’s a good idea for Realtors to work with Investors as part of their clientele.  What are the advantages of working with investors?                  

Great question Brad! But before answering, may I ask a question? How many Realtors do you know that would give up one-quarter of their income today without a whimper?   None…right? Well that is exactly how much business realtors are losing month after month, year in and year out if they ignore the investor client. According to the 2013 NAR Investment and Vacation Home Buyers Survey, 24 percent of all residential properties sold in the US were purchased by investors and 49 percent of those investors paid cash for the property… sweet! Today, the average buyer of a primary residence will live in the property 9 years before selling compared to 6 years in 2007.  Successful investors tend to buy and sell multiple properties over the course of a year and most often work with the same real estate professional on every one of those deals. The agent has the opportunity to earn commissions on both sides… the buy side and the sell side of the transaction or the buy side and the lease side. JUST DO THE MATH! The money is a great motivation, but there are other advantages of working with investors. One huge perk I personally appreciate is developing ongoing relationships with the investors. It’s also exciting and challenging collaborating on the property’s redesign, upgrades, choice of materials, color schemes and all the other necessary pieces of the of crazy puzzle we call the rehab process. It’s a great feeling of accomplishment to help the client achieve their rehab objectives and their profit goals for the project. So who are these Investors?  Well, you might be surprised. According to the Survey here are the characteristics of the investor client:

  • Your investor’s median age is 45.
  • Your investor’s median annual income is $85,700.
  • Your investor’s property is approximately 21 miles from their primary resident.

Wait there’s more:

  • 48% are two earner households.
  • 47% are likely to buy another investment property in the next two years.
  • 58% purchased detached single-family properties.
  • 29% of the properties were 1,000-1,500 square feet.
  • 47% purchased their property through a real estate agent.

Rule #1 if you want to work with investors: Understand the investor mindset!!! And understand that this is a significant chunk of the real estate consumer audience. What does that tell consumers? This is your buying competing!  PS: Brad, the student’s just love the class when you are a guest speaker.

4330 Northview Front

I have seen some fantastic renovations come out of this neighborhood lately. If you’ve been considering an investment property that will net you big bucks and sell fast, consider 4330 Northview. This house is fantastic for an investor, as it’s in great shape!

4330 Northview Sunroom

Consider also that it’s a four-bedroom, four bath house with a mother-in-law suite that is accessible from the outside. You get formals, too, as well as an attached two-car garage. There’s a spacious backyard and a fantastic sunroom, which is a great spot for entertaining.

4330 Northview Family

The kitchen has a granite breakfast bar and tons of cabinet space. It has excellent bones and a great layout, which with refacing the cabinets and perhaps updating the fixtures, you could have a luxury kitchen in no time at all. And because this almost 3,000-square-foot home is listed for $449,000, you’ll have plenty of money left to do it up right.

4330 Northview Kitchen

The master suite is 15×15, which is decent, but if you buy this house, I am sure you’re going to consider making a bigger, more retreat-like master suite. Unfortunately, there are no photos of the bathrooms. Let’s just understand that as a polite way of saying “renovate these rooms first!”

4330 Northview Master

The backyard is a great size for a family, and has a wonderful back porch, too, that is covered by the pergola. I do love how there is plenty of room for guests to sit and mingle with one another.

4330 Northview Backyard

So, what do you think? If this home is renovated right, how much could the buyer eventually sell for?