Akos Straub | Straub Milito Group

We founded our real estate development and investment firm, Restoration Remedies, LLC, around charting the complicated waters of distressed property flipping. Our firm rehabs distressed residential properties that enhance home values and neighborhoods throughout chicago and the suburbs. We maintain a solid team that identifies good investment opportunities every week and works together to make smart strategic decisions.

If you are an agent looking for the right investment property, be sure any distressed properties you consider meet important criteria, including standards you’ve set for location, condition, layout, purchase price, construction cost and resale price. Our company uses the same criteria. The location must be in an area we deem desirable, as the surrounding neighborhood always impacts the value of real estate. Assessing the strength of the local economy and school district are also necessary factors.

When choosing a home to rehab, we recommend not looking for teardowns. instead, seek properties with “good bones.” it’s for this reason that our company typically buys brick homes with practical layouts, three bedrooms and two bathrooms -- or at least space to add a third bedroom and second bathroom.

Acquiring the home is the most important part of the entire investment process. The goal is to purchase the home at a low price, rehab under a certain budget and resell at a profit. You can achieve this by researching which distressed properties are to your best economic advantage to flip. Advance research will help you avoid the mistake of overpaying. Do your due diligence by looking into the pricing history of cities and villages. For instance, when we decided to buy a home in Park Ridge we noticed the percentage decline of our acquisition was much greater than the decline of a home we purchased in Niles. Because these two suburbs are right next to one another and Park Ridge had a higher median price than Niles, we knew we were making an acquisition with much more upside potential.

Beware the trap of falling in love with investment properties. Do not fall into this trap! Adhere to your business and financial goals to stay on course throughout the rehab process. Every property has a market sales price. However, investments are not guaranteed. Be prepared to possibly lose money. To help avoid that potential, review this list of 10 pitfalls investors make when rehabbing a home:

1. Not aligning with a broker who’s an expert in the neighborhood

2. Not researching the property beyond the internet, MLs and REO listings

3. Not knowing your competition

4. Budgeting too optimistically

5. Being unaware of a property's building code issues

6. improper property management

7. Not having the correct insurance

8. Failing to purchase a home warranty

9. Not having an exit strategy

10. Not standing behind your product

Complete your investment rehabs with the highest level of craftsmanship. When the job’s complete, have the homes professionally cleaned and list them yourself or with the broker you’re aligned with in the neighborhood. stand behind your product and stay in touch with new homeowners after the closing to make sure they are satisfied. We recommend backing every home with a warranty. Our company issues 13-month home warranties from HomeWarranty of America (hwahomewarranty.com).

It’s also important to make sure your investment properties are properly insured in case of tragedies, such as fires, floods, thefts or vandalism. Our associate, Fields insurance services, inc., is just one of the licensed public adjusters that can act as your advocate and help maximize recoveries/claims (www.fieldsinsuranceservices.com).

As an investor, you have an interest in making sure each and every one of your rehabbed properties is of the highest caliber. if you are considering rehabbing a distressed property and want to up the odds of a successful flip, know who is buying and rehabbing what, and where, in your area. know your total costs, from acquisition to rehab to resale. Be realistic and conservative with your budget, and don’t be afraid to ask other investors for their advice before making a decision. Good luck.

For more information about us, visit Straub Milito Group | Chicago Real Estate and Restoration Remedies | Chicago Development.

All rights reserved. All information deemed reliable but not guaranteed. Chicago Realtor Magazine, http://viewer.zmags.com/publication/54e53a67#/54e53a67/22

Chicago Short Sale Negotiators - Your Home for ALL your Short Sale Needs

We are your CHICAGO SHORT SALE NEGOTIATORS!

Does the thought of Foreclosure have you up at nights?
A short sale is the best alternative to foreclosure. Chicago Short Sale Negotiators, Inc. will work with you to get your home SOLD and NEGOTIATE a discounted payoff with the bank. We have a team of debt solution professionals ready, willing and able to help you today. Please call our main office line at 312-772-5002.

DO YOU?

~Owe more than your home is worth?

~Have difficulty covering your expenses each month?

~Have less money coming in then what is going out each month?

~Not have money in the bank to cover the difference of what you could sell your house for and what you owe the bank?

~Feel stress mounting with each missed payment and phone call from your bank?

YES?

Then you may qualify for a short sale.

OUR SERVICES ARE FREE TO YOU!

OUR COMMISSION IS COVERED BY THE BANK!

For quickest service call Vince at 312-772-5002 today!

Contact Straub Milito Group Today!

The Straub Milito Group at Jameson Real Estate services a wide range of clients including private individuals, developers, and institutions. They specialize in the sales and leasing of new developments, condominiums, apartments and single-family luxury homes in Chicago communities. Start your FREE search to find Chicago homes. Pick up your FREE Chicago home estimate today.

Stay ahead of the real estate curve… Enroll today for your free neighborhood market report Sign-up Here and to find more information about Chicago Real Estate Straub Milito Group at Jameson Real Estate.

You are invited to a VIP Preview Event on Tuesday, October 5th, from 11am to 1pm at One Museum Park, 1211 S. Prairie, Unit 2505, Chicago, IL 60605. Enjoy complimentary food, drinks and a chance to win $20,000! *I will have scratch off lottery tickets for a chance to win $20k. Don't miss out on this fun event. Free 15-minute parking is available in front.

Now about this unique South Loop luxury condo, the seller is asking $749,900 - this is a great price, similar units are selling for around $900k. This is the only floor with 13ft ceilings in the entire building. This is a must see. Here is all the condo information: http://www.jameson.com/1211SouthPrairieAvenue2505

Sponsored by "Your Lender for Life" Dean Vlamis, Perl Mortgage, call 773.413.6256.

September Madness Giveaway! With the school year in full gear we’re gearing up for a great giveaway, win an iPad or get one at your closing! Learn more at Straub Group. When you buy with us, you qualify to receive an iPad and for just contacting us, you could win an iPad during our raffle at the end of the month.

Stay tuned to our grand re-opening of 630-632 W Barry. This brand new condominium is available for immediate occupancy. Read more at 630westBarry.com.

Enroll today for your free neighborhood market report Sign-up Here and to find more information about Chicago Real Estate Straub Group at Jameson Real Estate, view the links here:

The Straub Group at Jameson Real Estate is reliable, savvy and experienced. We offer an aggressive marketing program that is proven in our track record. Chicago Real Estate sales, new development and leasing is what we do. And we do it very well.

Ten Things To Do Before Summer Ends...

Stay ahead of the real estate curve… Enroll today for your free neighborhood market report Sign-up Here and to find more information about Chicago Real Estate Straub Group at Jameson Real Estate, view the links here: