Lee Kiser, co-founder of Kiser Group (link: www.kisergroup.com), joined us in our ABC7 studio to discuss what to expect in the Real Estate market in 2012.
Lee's Tips:
Tips For Investing Now
Use the 5-year question: In 5 years, what will the price look like that I pay today?
Tips For Loans
-Single-Family Home: 20-25% Down Payment
-Multi-Residential Investment Property
-Refinance Investment Properties
Tips for Financing
-Copies Of Tax Returns
-Statement Of All Current Assets & Liabilities (Personal Financial Statement)
Tips For Return on Investment
-Real Expenses of Owning The Property?
-Taxes, Insurance, Utilities, Repairs, Maintenance, etc.
-Enough Rent To Cover Expenses, Mortgage, Add Income?
Best Places to Find Deals
-Good Transportation To The City
-Development & Redevelopment Started
-Prices Are Still Low
-Neighborhood Examples: North: Uptown, Edgewater, Rogers Park; West: Logan Square, Avondale, parts of Humboldt Park; South: Hyde Park, Bronzeville, select parts of South Shore
