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Investing in Real Estate? Avoid Common Pitfalls With Attorney Al On Your Side

Investment Property and Real Estate

Illinois Real Estate Lawyer

The Law Office of Al Beaudreau, Ltd. is a seasoned real estate law firm that strictly limits itself to the handling of real estate closings. We are knowledgeable in all areas of real estate law and have extensive experience in assisting clients with sales and purchases of all types of real estate including foreclosures or REOs, new construction, vacant land and investment property.

For those who wish to secure their future or increase their profits, investing in real estate is an appealing prospect. It is best to seek legal advice and contact a lawyer before entering into real estate transactions. A home purchase is different from an income property purchase or sale and our firm can help you through the entire real estate transaction.

Advice for Real Estate Investors

Property not occupied by the owner and purchased to generate a profit is an investment or income property. Many investors grow tired of the unpredictable stock market and turn to investment property as a means of investment.

A home purchase may be an emotional experience, but purchasing an investment property can result in a profit for the investor. An income property involves the sales price exceeding the initial purchase price. While investing in property can be very advantageous, it can also result in many pitfalls if a buyer is not careful.

Smart steps to take before investing include:

  • Know your options- do you want become a landlord or restore and resell properties?
  • Analyze the market and know what the deals really are
  • Establish your deal selection criteria
  • Assess your goals- keep in mind that while rental real estate can provide a steady income, it takes work
  • If you are a first-time investor, you should partner with experience (a real estate agent and real
    estate law firm)
  • Look for the right location- there is a big distinction between speculating and investigating- it is important that you know the neighborhood, how desirable it is, how high the crime rate is, and how close it is to a new highway, etc.
  • Have capital lined up
  • Line up maintenance individuals to take care of different repairs

The reality is, with the right knowledge beneath your belt, you can accrue wealth via real estate investment.

Realitytimes.com explains how you can build your nest egg through real estate investing:

  • Positive cash flow- after mortgage, taxes, insurance and fees are covered, you should still have
    money left over
  • Equity growth via amortization- as the mortgage shrinks, your equity grows
  • Capital improvement- if you purchase a property for little, fix it up and resell it, you could make more than the initial investment
  • Wholesale purchases- if you buy a house for a bargain price (for example, a pre-foreclosure, foreclosure, tax sales, etc.), you make your money by buying the house at a low rate
  • Lowering tax bills- the government allows many tax deductions and tax credits for real estate investors
  • Smart asset management- managing the asset is just as important as buying it and cash flow
  • Asset value growth- when you buy at today's prices and wait before selling, your asset will grow in value
  • Rent appreciation- when cost of living increases, your rent cash flow should too

Income Property Closing Assistance

An investment property can help owners increase their wealth or income flow, but it is important to have legal advice during the entire sales process or purchase of an investment property. We understand the investment property market and the importance of each transaction when a client attempts to secure his or her future through a real estate property investment.

Trustworthy Guidance in DuPage County, Will County, and Cook County

Our firm has a proven record of over 7,000 real estate transaction closings since 1994. We are dedicated to helping clients with all legal aspects of buying and selling investment property.

Due to our high amount of successful real estate transactions, we have built a reputation as a prominent real estate law firm in the Chicago area. Our law firm offers competent professional real estate services to clients investing in properties for rental income or capital gains. Attorney Al Beaudreau is ready to help with the legal needs of those interested in purchasing or selling investment property.

Make an appointment today for a consultation.