All Forum Posts by: Chris Varsek

I'm an agent - here how I would hire one:

1.   It's a relationship, do you trust the integrity of the person.  

2.  Interview at least three agents

3.  Ask them for evidence of houses they've sold like yours in your geo market

4.  How did they market them, how are they marketing homes RIGHT NOW

5.  What will they be doing to earn their commission.  Ask for specific examples.  Many agents will now provide a breakdown of services (or they should at least).  The best agent usually isn't the cheapest.  Why would you hire someone to set and negotiate your price, when they can't even negotiate for themselves?

6.  How do they communicate.  How often will you receive updates (at least weekly).  What hours will you be able to get a hold of them (may realtors have set working hours to protect their family life).  Know what expectations are for you and for them.

7.  Are they professional.  So many new agents have entered the arena, but are not professional sales people.  This is a huge asset, put it in the hands of a professional.  

That is my two cents - this is what I would include when working with an agent.

Hey Angel - I'm an investor in Zion, and one of the top local realtors (I live in Beach Park, 3 minutes away).  Make sure you account for any tax jump, and the figure out what your doing with the water/garbage costs (as owner, those will be billed to you).  Also, what rents are you using.  Many local landlords are well below rent b/c they haven't tracked what's happening here. 

     Zion is still appreciating b/c of the push from the close WI market, and duplexes are really hard to find in NE Lake county (at least at reasonable valuations). 

    One missed issue will cause that cash flow to disappear.  However it may be a good opportunity to get in the game and ride inflation and appreciation.

- Varsek

So if the FHA finds out you do not have the property in your ownership anymore, they can escalate the terms. That's my basic understanding anyway. You definitely want to get your lenders input, and probably a local lawyer too.

Hi Michelle - I actually grew up and live here locally about five minutes away.  There are areas of hit and miss, as others have alluded to.  There is A LOT of improving areas, especially some that were once considered rougher parts of town.  

I'm buying for sure.  These are still historically low rates.  Even if a recession does come (likely at some point), there is so much generational demand from millenials that prices will keep going up, just not at the same velocity (think 5% vs 15% annually).  Frankly, I'm far more worried about the stock market than the housing market for the next 5-10 years

I'd say bring along a contractor if you can, or at least a veteran investor.  Someone who may see things through their experience that you don't

Hi EMily - I'd be happy to connect and talk as well, I live on the border of WI/IL and invest in both sides of the border - mostly SFR but also in multi-family. I'm also a real estate agent licensed in both states.

I love this, build that legacy!!