Do You Want A 'sleeper'? (Chicago, Rockford: real estate, condo, rent)

[HOWELL_STREET]

Well, I would suppose that everyone wants a 'sleeper'. So what is a sleeper? It is a product (in my context) a house and land - - that no one has noticed and so the price has not yet been pumped up by supply and demand.

In another 'O.P', the subject was about Illinois winning the huge experimental coal contract. Of course, that should create more jobs and an infusion of a population stampede in the future.

So if you are a real estate investor or even someone who wants to 'hold' real estate for one's future retirement - - then a very convenient 'sleeper' town is known as Nason, Illinois (62866).

Nason is a beautiful little town on the northern shore of Rend Lake. And all of this is within about 11 miles of Mount Vernon, Illinois. So how does this relate to the future coal experiment? That entire area surrounding Tuscola, IL, down to Mount Vernon, Illinois is coal country. So if one 'gets in the path' of a future land boom / stampede in the future... then one is in a great position to make some money on any vacant land.


Carter Glass

[Drover]

What?

[Jeff Hill]

Real estate investing comes down to two categories.

- Long Term Investment
- Short Term Investment

Your short term investments are the ones that you can buy for little money, and rent them out, having your rent bring in a positive cash flow each month. This area you speak of will be exactly that in my opinion. However, I would wait until there is more activity and demand in the area before buying. I could type on and on with reason why I feel this way but lets just keep it short. Real estate is my career and I monitor the market on a daily basis. Take that for what it is worth.

The long term investments are the ones you purchase and sit on. These properties will bring you close to nothing on a monthly basis (usually a small negative cash flow) but yield the higher return when it comes time to sell. These properties are the ones you look into your crystal ball and determine what will happen economically in the future to the area. This area you speak of (Nason) is not that. That said, I'd like to hit a few points on why I feel the #1 opportunity lies in Boone County.

- Easy access to I-90. 30 minutes from Elgin.
- Access to major amenities in Rockford, which is 10 minutes away.
- 3rd fastest growing County in Illinois
- Rural area subdivisions are looking more and more like the higher end communities within the suburbs like Naperville
- The Metra line
The Metra line is very crucial in my thinking. If you haven't already heard, the talks of the Metra line from Elgin extending to Boone County are very real. If and when this comes together, property values in Boone County will sky-rocket. Belvidere even has plans to make the metra stop a major hub for the area. Talks of high rise condo's, outdoor malls and shops within a high density area are very impressive.
- Olympics
If Chicago wins the bid for the Olympics, it's almost a done deal that not only the Metra line will come but there will be tremendous growth west of Elgin as well. I can even begin to imagine what that will do to the housing market in Boone County.

I personally bought in this County over two years ago and despite all the doom and gloom you hear about the real estate decline, my real estate has gained over 10% in 24 months while the rest of the suburbs holds on for dear life. This gain, in the current market, is a clear indication that I made the correct choice in my investment.


Too your success,



-Jeff