There is some debate as to how Chicago came to be called the Windy City; one theory is that the nickname was first used in reference to its boastful citizenry, another that it came about because of its many bloviating politicians. There is also evidence that it is far from the windiest place in the [...]
As I wrote in my 2007 book Purchase, Rehab and Reposition Commercial Investment Property, repositioning multifamily apartment buildings has long been my passion, and has proven to be a pathway to profitability. It’s hard work, as investments go, but it has always been worthwhile. Most of the success our company has seen comes from [...]
In the ultimate case of something old and something new, stadia (which date back to the 13th Century BC) and Starbucks (a coffee company dating back to 1971) can be indicators of neighborhoods that offer abundant opportunity for those looking to reposition real estate. There are more obvious signs to take into account, to be [...]
As with home-buying, the closing of any commercial real estate transaction brings with it an inch-thick pile of paper, even in this digital age. Pen in hand, we all must wade in and find our way out the other side. I’m here to tell you that it can be done, that you can keep your [...]
The goal of purchasing, rehabbing and repositioning a property is to make a profit, period. That means every decision you make must have the bottom line in mind. That is especially important when it comes to deciding about the level of renovation required to reposition the property. Over the years I’ve been involved in everything [...]
Whether you’re new to purchasing, rehabbing and repositioning real estate as an investment opportunity, or you’re a more seasoned investor (in real estate or elsewhere) you need to answer one big question before you make your next purchase: Where’s the money coming from? The answer? Either you have 100-percent equity to invest or you are [...]
Properties in foreclosure are often an excellent source for single-family home rehab and repositioning. Coming from a family that actively owns and operates real estate investments (I’m the third generation to be in the biz) I’ve seen my fair share of houses, blocks and neighborhoods fall into disrepair, then, after the foreclosures are handled, [...]
In real estate, as in many other areas of business, one simply can’t jump in without doing the legwork and research. Because there’s so much money at stake, it’s crucial for real estate investors (especially first-time ones) to go through the right procedures--rather than leaping without looking. With that in mind, understand that this guide [...]
Believe it or not, a lot of work goes into real estate projects--in particular, the decision over whether a property should be renovated and refurbished, or demolished outright to make way for another structure. Personally, I much prefer renovation and refurbishment: I find it more cost-effective and efficient, and I’ve made much of my career [...]
Even though I’ve built my career on rehabbing and repositioning large, multi-family apartment complexes, I’ve always remained fond of single-family homes. After all, there is plenty of opportunity for renovating and reselling single-family homes--to the point that there are many articles, TV shows, websites, and magazines that have covered the topic. And renovating (and then [...]