It happened again yesterday. I was asked about what I look for when researching or evaluating a property. As always, it brings on a two-part answer, which is the opportunity AND the numbers. Or is it the numbers and the opportunity?
I’m going with opportunity first. It may come in the form of motivation, something happening in the neighborhood, or an expansion. There should be reasons to look into real estate opportunities within a specific area before running the numbers. Strategies don’t come from reading the latest real estate trends and statistics.
The article linked below is about the upcoming expansion of facilities at and near Chicago O’Hare Airport. Whether you have anything to do with real estate in that area or not, there are plenty of opportunities for success upon finding numbers that work in your favor.
Seeing the increase in hotel room demand, an upcoming ice rink, and other plans for the area already are creating opportunities for real estate developers, brokers, investors, lenders, and contractors. Guests and visitors to the area, whether using the Airport or not, are clearly on the increase. They like to eat, drink, shop, and be entertained. Investors may want to acquire land for development or look at expanding existing buildings.
If your current role doesn’t allow time to find these opportunities that could pay off big time down the road, it shouldn’t stop you from finding and evaluating them. Ask me how……
https://rejournals.com/ohare-takes-flight-with-new-cre-investments/
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