ILFLS Community


Latest from ILFLS community

Category >> Real Estate

DIY Painting

Posted by: web_admin in Real Estate

Tagged in: DIY-Painting


With the ongoing stream of property maintenance on a foreclosure in Chicago, it can be tempting to perform some of the work, yourself, instead of hiring professionals to save money.  Painting is one of the easier tasks, and all it takes is a steady hand.  Painting is usually fun, too.


Curb Appeal

Posted by: web_admin in Real Estate


You have just won one of the foreclosure auctions in Chicago, and now you either need to flip the property, by selling to new owners, or find high quality renters who will pay on time every month and won’t call every time their toilet clogs.  With a tough housing market, how do you attract the right people to your property to make a nice return on your investment?  One strategy is to improve the property’s curb appeal.


1031 Exchange

Posted by: web_admin in Real Estate

Tagged in: IRS , 1031


After acquiring the first investment property, or the first dozen, the next step is always growth.  How does this real estate empire extend itself, from one property, to a net worth that is ten times or even one hundred times that of the original acquisition?  There is room in the world for ambition.


Finding the Perfect Tenants

Posted by: web_admin in Real Estate

Tagged in: tenants renting


After getting some experience winning foreclosure auctions in Chicago, it may be advantageous to explore other business models in the real estate business.  Flipping properties is not always the most strategic move, in certain economic environments, and rental income may be more attractive.  The number one headache with generating rental income is the tenants.  Renting property certainly is not a free lunch.  Follow these tips to smooth the process.


Any homeowner who has been defaulting on his monthly mortgage installments know very well the drastic impact of a foreclosure. A mortgage is a secured loan that is given to the borrowers in lieu of the property kept as collateral to the loan. The interest rates on the home mortgage loan remain low as the lenders have the opportunity to foreclose or repossess your home in the event of a prolonged default. Foreclosure will make you homeless and will also take a toll on your credit standing. Neither will you be able to qualify for yet another mortgage loan in the near future nor will you be able to retain your present homeownership rights. There are foreclosure alternatives that you can take in order to repay your home loan on time and avert the risk of losing your home to a foreclosure. Here are some of them in case you’re not much aware of them.

A mortgage refinance – A new loan can revise your repayment schedule

As the mortgage rates are at their record low levels, this is perhaps the best time to refinance your home loan if you’re not being able to keep up with the payments. Refinancing involves a process of taking out a new loan with favorable rates and terms and conditions. The idea behind refinancing is to take the proceeds of the new loan and pay back the original lender and then start repaying your new loan in small and affordable monthly payments. You have to shop around and check the new rates that are being offered and it goes without mentioning that you require a good credit score, the exact down payment and a low DTI ratio so as to qualify for the new loan.

While comparing the rates on the new loan, you require comparing the rates, the monthly payments and the closing costs of the loan and then seal the deal with the best lender. The only problem with refinancing is that you have to go through the entire process of taking out a new loan yet again in order to avoid a foreclosure. If you want to avoid this, check out the other option

America's Most Dangerous Cities

Posted by: web_admin in Real Estate

Tagged in: crime


This is an interesting photo tour of the America's Most Dangerous Cities. I was suprised not to see Chicago here.

 Follow this link to the original article on Forbes

Obviously, the process of buying and selling a home or other property is an involved and complex process. It is important therefore to ensure that there are no lingering issues that may slow or prevent the transaction from being completed. Among the more common issues homeowners deal with during a sale of real estate is asbestos. While asbestos use was strictly regulated in the late 1970s, many asbestos containing materials still exist in homes built prior to 1980. It is important then, to obtain a proper home inspection or asbestos consultation to ensure that these materials are not hazardous to anyone's health.

Asbestos was used extensively up until approximately 1980 for insulation purposes. It could be used in nearly any compound because it was durable and had small fibers, which lent themselves well to a myriad of different products. Some of the more common asbestos products include wall/attic insulation ("pink," spray or "popcorn" insulation all contained asbestos at one time), pipe coverings, and HVAC ductwork. If a product required insulation or resistance to heat and was manufactured before 1980, it likely contained asbestos in at least some capacity. What is important however is learning the difference between hazardous asbestos material and products which are not immediately hazardous.

Hi everyone,

A very smart explanation of the current credit crisis from Jonathan Jarvis.


You are here  : Home Blogs Latest Blogs Category Real Estate

The Network

The ILFLS Network Local services expanding globally. The modern business world.

ILFLS Blogger

The ILFLS Blogger Welcome authors. Share your thoughts. Discuss.

Contact Us

Contact UsPhone: (312) 380-9788
Fax: (877) 830-3205