If you’re a first-time home buyer, investor, relocating or retiring—and ready to buy a condo in downtown Chicago—then these 7 market insights will help you avoid costly pricing mistakes. Follow this info-graphic along as it lands you safely on your feet among the street-level metrics.
It just started. Despite what numerous pundits previously alleged regarding a Chicago real estate recovery, it has only now started. If you’re interested in buying property—or investment in general—then you don’t want to miss this next wealth phase in Chicago real estate.
This month, our insider technical analysis trigger (shaded green areas) secretly alerted us to the start of the next Chicago real estate wealth cycle. Heeding the guiding principles in this simple chart remains especially important if you’re buying property using debt financing.
Properly buy downtown Chicago real estate like a grandmaster chess champion. If you brace yourself with these moves, then you’ll checkmate your opponent every time.
Move 1: Notice of No Agency
What is it? — When you bump into a real estate broker at a coffee shop and start talking real estate.
Chicago is considered a high momentum cyclical market. Similar to other HNWI (high net-worth individual) markets in America like San Francisco. Which means it’s real estate market trend mimics the peaks and valleys of a roller coaster ride. Beyond lifestyle and fun, Chicago offers convenient travel to anywhere in the world. And when it comes to intellectual capital in the form of the tall building, Chicago minds are at the top of the pyramid.
What your pal at the bank and your broker don’t tell you. The reason why your advisers won’t inform you on this calculation is because they’re not trained to think like a successful fund manager. And, therefore, they don’t know it themselves.
This is single-handed the most important lesson you’ll ever need to know when borrowing money from a bank to buy property.
Legendary investor Warren Buffet claims he shares a valuable philosophy with baseball great Ted Williams. Ted Williams once wrote that the most important thing for a hitter is to wait for the right pitch. Warren Buffet admitted he approaches investing with the exact same credo:
“…wait for the right pitch, yeah and wait for the right deal. And it will come. It’s the key to investing.” – Warren Buffet