As soon as they get their first taste of homeownership, a lot of homebuyers start to think about expanding their real estate portfolio by purchasing an investment property. Owning investment real estate, whether a small apartment building, retail center, or single-tenant property, is an excellent way to diversify your income and build wealth. However, for first-time investors, the process can be a little daunting. But with the right resources and guidance, the transition from homeowner to landlord is very achievable.
Legendary American author Mark Twain once famously quipped to a reporter that news of his death had been greatly exaggerated. Similarly, we Chicagoans frequently find ourselves in the position, these days, of having to remind others that our city is not only still alive, but is thriving in many ways.
While major cities throughout the greater Midwest struggle to reinvent themselves, Chicago has remained economically viable and vibrant despite a flurry of negative headlines. Tourism figures continue to break records, a revitalized downtown has drawn numerous new corporate headquarters and expansions, and the city’s vast housing stock remains quite affordable relative to other major metros – both nationally and internationally.