(Newswire.net — February 23, 2014) Chicago,Illinois — Imagine your money growing and increasing. Is that your definition of investing?
According to Investopedia investing is:
“An asset or item that is purchased with the hope that it will generate income or appreciate in the future. In an economic sense, an investment is the purchase of goods that are not consumed today but are used in the future to create wealth. In finance, an investment is a monetary asset purchased with the idea that the asset will provide income in the future or appreciate and be sold at a higher price.”
Real estate investing can be
– Short or long term
– Buying and selling or buying and leasing
– Single home
– Multi-dwelling
– Commercial
– By individuals
– By partnerships
– By corporations
Real estate investing is making a good deal on property then selling at a higher price or leasing.
The costs for the investment property to determine what the profit on sale is could include:
– Price paid for the property
– Rehab and upgrade costs
– Financing costs
– Advertising costs
– Sales commissions
– Taxes
– Closing costs
– Legal costs if needed
– Less rental income
Mark Twain said ““Real estate is always a good investment. God isn’t making it anymore!”
The above quote is still true but not as simple as that. Real estate is not only the land. It is also the buildings. Real estate is literally going up with taller and taller buildings. Not only are buildings being built but buildings are being upgraded and divided up. Today property, such as condominiums, can be owned without the owner owning the land the property is on.
It is also not so simple as today as land is being added to areas with land reclamation. Now, we are making more land.
Personal homes are often the largest purchase a person or family will make.
A family’s home has been seen as an investment as well as their home. It has not usually been considered a short term investment but there have been periods where real estate prices have gone up so fast that profits were made on normal buys in a very short time. This is generally calling flipping as the property is bought and flipped quickly to a buyer at a profit.
The real estate bubble that began in 2007 sent home values plummeting. This means there is a huge amount of property that has been foreclosed on, is being foreclosed on or is being offered as a short sale. In a short sale the lenders have agreed to take less for the property than the amount owed to the lenders for the property.
Real estate investing is very complex today.
It is not automatic that property can be bought and sold in a short time for a profit. Historically, property over time has been a profitable investment.
The most important thing to consider is having good professional advice. Tim Haywood of Haywood Realty has more than a decade in the Chicago real estate market. His time has been in what may be the most tumultuous time in real estate ever. It is easy to make money when everything is going up.
It can be very profitable to be in this tumultuous market as well.
There is property in Chicago that could be an incredible deal for first time home buyers, first time real estate investors and definitely for seasoned investors. Whether your interests are long term or short term now is the time to talk with Tim.
Home buyers, home sellers, renters, investors and agents give Tim a call or email him don’t miss out just give Tim Haywood at call at
Broker Manager
Haywood Realty & Investments
Ph: (773) 842-6101
Fax: (888) 371-6102
Email: haywoodrealty@gmail.com