Chicago Property Management

The RedStar Blog

It's the age old question for those looking to profit from a potential real estate investment - is it better to flip a property (buy, make improvements, and sell) or buy a property for the rental income?

The answer? It depends greatly on your risk tolerance, your skill set and your overall, long term objectives.

Investing in Real Estate

It’s important to note at the outset that both approaches are simply different means to the same end - profiting from your real estate investment. You're likely already familiar with the many benefits of real esta...

Congratulations! You’ve purchased a rental property and you’re now on your way to creating a steady stream of passive income. At some point in the near future, however, you’ll be looking for opportunities to increase the income you receive from your investment property.

The following lists some easy and practical ways that today’s most successful rental property owners employ to increase their income and secure long term gains in their wealth from the assets.

Rent Increases

The easiest way to increase the income you receive from rental properties is to rai...

Advances in PropTech are rocking the real estate investment world by making investing, record-keeping, property maintenance, and a slew of other tasks easier to do, while also lowering costs.

As you probably already know, as an asset class, real estate contributes $3.5 trillion to United States GDP (about 13% of total GDP) annually. Globally, real estate is still typically the largest investment portfolio item, exceeding the total worth of both stocks and bonds combined. According to a recent article in Read More

When it Comes to Building Condos, it IS Easy Being Green

New Green Condo Initiatives Can Save Property Owners Big Buck in Energy Savings

As we all know, there’s been a lot of discussion in Washington and elsewhere recently regarding issues associated with climate change and the “Green New Deal”. Some scientists have speculated that we only have a limited time remaining to reduce the planet’s rising levels of greenhouse gases.

One way to help reduce greenhouse gases and make the planet more environmen...

The effects of higher interest rates can have a chilling effect on real estate investment, but it doesn’t mean you can’t insulate yourself from the cold.

Real estate investment has never sailed on a sea of tranquility. Sometimes the waters can get a little choppy. And sometimes a strong storm can send your entire investment adrift. Those are the risks. But even with the occasional roller-coaster rides that come with financial investing, real estate is still th...

Establishing a Better Tenant Welcome Package Template Can Pay Dividends Down the Road

If you own rental properties, you already know that being a landlord can sometimes be a thankless job. Even if you’re “in compliance” with every housing ordinance under local, state and federal law, that doesn’t mean that your tenants will automatically sing your praises. Let’s face it, being up to “up to code” is not a sexy selling point in the marketplace.

But the stereotypical image of the cold, greedy landlord seems to be thawing. One reason for the warming of the renter-ren...

Floor Plans Help Real Estate Investors Sell Properties to Customers More Effectively

A Picture is Worth a Thousand Words. Creating 2D and 3D Floor Plans Can Help Potential Buyers Get a Clearer Impression of Each Property.

Former NFL head coach Chuck Knox once said: “Always have a plan…and believe in it. Nothing happens by accident.” Indeed. In the world of real estate, having a strategic plan for growth is very important. But a visual plan is also optimal as well. The “visual” plan I’m referring to is…including a property’s floor plan wit...

A savvy real estate investor's guide to propery management

Are you looking at real estate as an investment opportunity? If so, you better have a terrific team in place throughout the experience - from property renovation to tenant retention - if you plan on turning a profit.

Who do you trust for this major responsibility? Hopefully, the answer is simple - a property management company (but not just anyone of course).

Property managers play an important role in the success of any real estate investing initiative. Without employing ...

When you initially invested in that real estate property, did you imagine all of the myriad challenges you would face when it came to renting? Unlikely, and, you're not alone. From upkeep and repairs to marketing and rent collection, it can simply be too much for those who initially were just looking for some additional income.

What property owners quickly realize about owning rental property in Chicago, or anywhere in the world, is that not only do they need to have a plan in place but the right team to make it all happen.

While there's no question t...

Multifamily housing (apartment buildings) are in every neighborhood of Chicago and it's suburbs.

With so much available inventory, property owners (and the Chicago property management companies that manage those assets) often need to get creative with the strategies and tactics they use to not only attract new residents, but keep the residents they currently have happy so they ultimately renew their lease. That might be easier said than done but it could be the difference between operating a profitable property and an unprofi...