With the tightening of lending guidelines, I am encountering more people who are delaying the purchase of a home until they are in a more stable financial position. This is driving up the need for quality rentals in the Joliet area.
Okay, maybe a little more spacious than the one pictured! But, my point is that the strong rental market in the Joliet area provides a fabulous opportunity for investors who are ready take on the role of landlord.
I recently had a condo for sale in a lovely building and a good portion of the phone calls I recieved were from people who were searching for a nice place to rent.
While not everyone is cut out for the role, buying residential rentals can be a wonderful path to building wealth. Not only does it afford you with regular cash flow, there are substantial tax benefits as well.
Buying and holding these properties over a period of time can also result in substantial gains in equity.
Prices in Joliet are stable and there are some quality single and multifamily properties available. . .if real estate investing is a part of your financial plan, now is a great time to buy.
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Contact Lori Gilmore, Realtor(R), Radcliffe Realty at 815-207-9703 to list your property for sale or to buy a home, condo or investment property in Joliet, Plainfield, Crest Hill, Shorewood, Lockport, New Lenox or elsewhere in Will County, Illinios.
Please visit my profile to find out more about the services I offer. . . or give me a jingle. . . I'd love to chat about what your real estate needs are.
Copyright(c) 2008 by Lori Gilmore. All Rights Reserved.
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Whether you are searching for a home or investment property to buy or have a property to sell in Joliet, Shorewood, Plainfield or beyond, I can guide you through the process.
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Lori, I'm getting the same type of calls on my listings. I've counseled several sellers who are in a position to hold their property to rent it out, make some cash and see what the market looks like in a year. (Of course, I warn them that I don't have a crystal ball for what prices will be like in a year!!) Very nicely laid out - this is a great post.
Lisa and Andrew. . . Thank you for stopping in. In my market we are going to have to be creative for a while. Lisa, I have done the same thing and even structured a lease option or two when appropriate.