Savvy investors understand the benefits of owning multi-family properties in Chicago. Beginning investors appreciate multi-family properties for the advantage of house hacking to lower their housing costs by living in one of the units as the tenant(s), through rent, pay down the mortgage while building equity. If I had to start all over again, THIS is how I would do it! Simply put, multi-family properties offer cost and time-saving benefits worth closer examination, with one investment having multiple and scalable income stream possibilities! So while you’re working towards ensuring you’ll enjoy your retirement life on your terms, investments made wisely will be working to build wealth through appreciation; and while your tenants are paying down any existing mortgages, your income increases with more profits over time.
Just imagine, owning 12 multifamily properties that provide $6,947 per month per property! That is $83,364 per month. If you multiply that number times 12 months it equals $1,000,368 PER YEAR in rental income! In a perfect world, once the mortgages are paid off (by your residents) and you approach retirement years, you will have free and clear rental properties worth 25%-30% or more than what you paid for them, 80%-90% cash flow. At the end of it all, you can sell (and live off of the income) or create a trust and pass the assests to your loved ones! As you can see, it is very possible to be a millionaire if you have the right guidance and you have done some self discovery to determine your Strenghts-Weaknesses-Opportunites and Threats. We will gladly help you navigate through this… Step 1 is Locating yourself!
So why not consider taking another step towards building your future through investments that offer tax benefits and a way to build a healthy portfolio through diversification? Strong real estate portfolios have investments spread across several sectors to protect against economic downturns in any one of the sectors. In addition, rental properties are a built-in hedge against inflation as rental rates tend to keep pace with increases in the cost of living. So read on as we explore five great benefits of owning multi-family properties in Chicago.
One Transaction
Each investment takes valuable time, lender fees, and complicated paperwork, one of the benefits of owning multi-family properties in Chicago is getting two or more properties while dealing with only one transaction; it is more convenient and cost-effective. In addition, professional buyers like those at Echelon Real Estate have years of experience helping investors discover the options they have for financing. Our team can also help you discover financing options to fit any investor’s budget.
Vacancies
Because there are multiple units, another of the benefits of owning multi-family properties in Chicago is the lessened impact of a vacancy on your income stream. In addition, professional buyers like those on our team of investors can help you locate the right property to attract the best tenants. The our experts buyers know the Chicago the real estate market and will zero in on the best available property to bring you the highest returns.
Lower Per Unit Costs
A money-saving benefit of owning multi-family properties in Chicago is a lower per unit cost for maintenance and repairs, with one service call covering multiple units. We prefer rental units with separate heating and electrical to allow control by the resident. This has a duel advantage! Peace of mind for the owner and convenience for the resident in not having to contact the owner/management to adjust heating or cooling. Subsequently, this saves you, the owner, thousands of dollars in heating expenses by no longer having to pay for residents heating/cooking gas or electrical usage. Professional buyers like those at Echelon Real Estate Development work with a full-service in-house investment-minded team of industry specialists ready to jump into action to care for your property. You can rely on our pro team to work efficiently and be there when your residents call. Working with us means you can relax knowing your investment is in good hands!
Management
Another time and cost-saving benefit of owning multi-family properties in Chicago is the ability to manage multiple units with one stop. Professional buyers like those at Echelon and Titanium Holdings Inc work with the most highly regarded professional property management teams in the Chicago area to handle everything from screening to the placement of the best possible tenants. We can help you as much or as little as you wish, from partial services to on-site management, keeping an ever-watchful eye over your investment, and ensuring everything is secure.
Professional Investors at Echelon Real Estate Development
Suppose you’re ready to learn more about the benefits of owning multi-family properties in Chicago. In that case, you should be working with the local professional buyers at one of our companies. Echelon Real Estate Development can assist with multifamily properties that are 5+ units or more or Titanium Holdings Inc for properties 4 units or less. Both teams have the know-how and 22 years of investment experience to help you achieve your investment goals with simplicity! We’re proud of what we do, by helping investors like you! We were once at the beginning stages too. And don’t forget to ask about our current inventory of the best investment properties available in in Chicago and the surrounding areas. Call our team at Echelon Real Estate! at 708-380-8000.