If you are interested in buying a home in the Chicago area, it is often to look beyond the MLS. Some of the best deals are never listed and can only be found when you work with a professional team of property investors! In our latest post, learn more about how buying from a professional investor can benefit you.
Most people think that there is only one way to buy a house. You call an agent, tour some homes, try to get a loan, make an offer and that’s that. But what if you are looking to save some money? Find properties with real value? Or you simply want to work with a seller one on one, without the commissions, fees and red tape?
A great way to do this is to partner with a local Chicago property investor. There are pros and cons to working with an investor, just like any other real estate transaction. Keep reading to find out if buying a home from a professional property investor is the right choice for you!
They Are Looking For A Good Deal Too
Professional property investors buy and sell houses for a living. They know the process and know what makes for a good value on a house. They know where to look to find the best deals, and won’t purchase a property that doesn’t meet their standards. By working with a professional property investor, you will be able to utilize their knowledge about local real estate and eliminate much of the legwork that they will have done for you.
Some agents are truly wonderful. They are in this business to help people find a home and are passionate about what they do. However, there are others that are simply trying to make a buck and will talk you into any house just so they get their commission at closing. Some agents will give you the runaround or make promises they can’t keep. It can be difficult to know who to trust, and by eliminating the agent and handling matters yourself, you will know everything is being taken care of quickly and on time. Plus, if the seller isn’t going to be straddled with commission costs, they are likely to give you a better deal on the property!
All Types And Stages
Most investors deal with many different types of properties and they also invest in and offer homes in all stages of rehabilitation. Some people love the idea of buying a house with a gutted kitchen or bath, as they will now have the freedom to make it exactly what they want it to be. Other people are looking for homes that are move-in ready… investors will have those too! No matter what type of house you are looking for, a savvy Chicago real estate investor will have it in their inventory… or know where to find it!
They Can Find What You Are Looking For!
Most top real estate investors are well connected within the real estate industry. They will be the first to know about new deals hitting the market and how to go about acquiring them. If you are looking for something in particular, let the investor know your specs and price point, and they will work to make it happen for you! They will know the best contractors, the best title companies, and will be able to connect you when you need these types of services.
They Aren’t All The Same
Not all investors are the same. Sure, investors are running a business, and they should want to be profitable. However, there is a line and different motivations for different people. At Luxdoor Invest, we are in it to help people find houses at affordable prices. We believe that by eliminating the middleman, buyers and sellers can work together to achieve their goals. Watch out for investors that offer properties that are too good to be true… they very likely are!
Watch Out For Cut-Rate Repairs
Many investors will buy run-down properties for pennies on the dollar and fix them up as cheaply and as quickly as possible. When you are buying a renovated home, make sure you review all of the repairs that have been done and make sure everything has been done up to code.