Clifford Louis: Real Estate Agent

12/28/2021

Jahmahl & Morgan,

You two are, without a doubt, one of the select few reasons why I joined this business. You’re so much more than clients to me. You’re right up there with my brothers.

Thank you so much for allowing me to navigate you through the waters of purchasing your first home. I’ve so much more to say, but I’ll wait until our dinner date!

Enjoy your upcoming and much-needed vacation. I’ll be in and around Chicago if you need me to handle anything

06/30/2021

It’s the name of the game. We’re not all as high profile as Jennifer, but once you get started, acquire a property manager to overlook your properties for you that resides in good locations, the world will begin to unfold and bend in your favor. Time and time again. Freedom requires discipline.

The A-lister has a keen eye for designer homes, including her current A. Quincy Jones–designed Bel Air mansion

06/23/2021

Who would we be without brunch?

Enjoy a Bloody Mary or Benedict at these 16 spots

05/27/2021

I love everything about my young lady. I didn’t grow up with dogs so I never understood the love but my whole life has changed because of her. My favorite thing about her is the fact that I can walk her off leash in the neighborhood and not be concerned about her doing anything foolish.

She hated the hammock by the way. I snapped this shot seconds before she ferociously launched herself out just to then give me a “don’t ever god damn touch me again” glare.

Shout out my lil lady Murph

05/25/2021

Welcome welcome! I truly hope that most of you find my MUM posts helpful. I know a lot of us aren’t ready to make such a purchase either because the finances aren’t there or were simply not educated enough on the process. But for those of us who want this to be a part of our lives, I have the answers. Read on.

How to buy a house with $0 down in 2021: First time homebuyer.

No-down-payment mortgage.

A no-down-payment mortgage allows first-time homebuyers and repeat homebuyers to purchase property with no money required at closing, except standard closing costs. Other options, including the FHA loan, the HomeReady mortgage, and the conventional 97 loan offer low down payment options with as little as 3% down. Mortgage insurance premiums typically accompany low and no down payment mortgages, but not always.

Is a no-down-payment mortgage right for you?

It’s a terrific time to buy a home.

Sales are rising, supply is dropping, and prices have increased in many cities and neighborhoods. Compared to next year, today’s market may look like a bargain. Furthermore, mortgage rates are still low. Rates for 30-year loans, 15-year loans, and 5-year ARMs(adjustable rate mortgage) are historically cheap which has lowered the cost of owning a home.

Low down payment: FHA Loans(3.5% down)

The ‘FHA mortgage’ is a bit of a misnomer because the FHA doesn’t actually lend money. Rather, the FHA is an insurer of loans.

The FHA allows a down payment of 3.5% in all U.S. markets, with the exception of a few FHA approved condos.

Other benefits of an FHA loan are:
- Your down payment may come entirely from gifts funds or down payment assistance.
- The minimum credit score is 500 with a 10% down payment, or 580 with a 3.5% down payment.
- Upfront mortgage insurance premiums can be included in the loan amount; mortgage insurance is paid monthly thereafter.

Note that if you want to use an FHA loan, the home being purchased must be your primary residence.

You can purchase yourself a two unit building like the one in this post, live in one unit, and rent out the other.

As always, I’m here for you and your questions when you’re ready.

05/17/2021

I missed last week but I’m back like I never left!

This week I’m featuring this crown jewel of a four-unit property for my Multi-Unit Monday post.

This is an outstanding extra-wide new construction four-unit elevator property by award-winning builders. It brings in an annual gross rental income of $351,000. Made up of 3 and 4 bedroom units, this fully leased and occupied building offers the ideal armchair investment building with an option for an owner-occupied unit. Built as four luxury condos, the property is now selling as a trophy apartment building. Each unit includes private outdoor spaces, custom arclinea cabinetry, Wolf and Subzero appliances, oversized islands, Ann Sachs tile, custom window treatments, spray foam installation, and Mitsubishi high-efficiency HVAC systems. The site includes an oversized four-stall garage. Private elevator access to units three and four provide a seamless entry. Located on one of East Lincoln Park’s premier blocks, steps to Oz Park and close to Lake Michigan!

05/04/2021

Ninety percent of all millionaires became so through owning real estate.

You stress out all the time about rent being too high or how life is too expensive, or how you want to shop without looking at price tags. That life you wish to have can be granted in due time. You’re going to get older anyway, aren’t you? Aren’t we?! Why not make those years count and do what’s best for you, your future family, your future grandchildren, and so on and so on and so on. All it takes is a quick call to your trusted mortgage lender. If you don’t have one, I know the guy you need. Get pre-qualified, start searching for a suitable multi-unit and get cracking. Your first won’t be all lavish and luxurious, but baby, you’ll get there!

For my flight attendant family, I spoke to a mortgage lender today who educated me on the grants and loans provided by IHDA. I also learned that if you want to invest in rental property, you’ll have to work for six months (post furlough) to prove that you have a steady enough income to qualify for a loan. If you have any questions, hit me up. I’m good to talk.

04/26/2021

Be sure to thank when you see the Cheshire Cat in our most honored community! I was inspired to feature this building while I was having lunch with at .restaurant, whose Big Belly Burger was the size of my head!

So, how much does a 35 unit building located in Ukrainian Village make? How much did the building itself even sell for? Let’s not forget that it’s mere footsteps away from the Division Blue Line stop and less than five stops away from our hustling and bustling downtown Chicago!

Located at 1166 N Milwaukee Avenue and built-in 1929, this mixed-use seven-story apartment building consists of 35 residential units and one office space. The entire property was renovated in 2010 with separate utilities for each tenant. The unit mix includes 12 one-bedrooms, 22 two bedrooms, and one three-bedroom. The adjacent parking lot provides for 28 cars plus another nine cars underground.

This Multi-Family building sold in 2010 for $4,795,000 after 139 days in the market and brought a monthly gross rental income of $276,600 when fully rented!

I’m not sure what your goals are in life, but these figures are mine. I can’t get even out into words how simple all of this is. If you start with a duplex and learn the game as you build, you’ll realize that a building like this is far easier to maintain than you may think. You’ll have made all of the connections; you’ll have all the handymen and women, you’ll have the contractors, the snow removal companies, the property managers all working for you when you call.

Financial stability isn’t a choice; it’s a mindset. I urge you to change your way of thinking if you aren’t there yet.

As always, I’m newer to the business, but I have a lot of energy. I’m fired up, I’m enthusiastic, and I have time to help you. If we encounter a problem that I don’t know the answer to, I’m one phone call away from people in my office who have many years of experience. I’ll get you the answers you need.

Have a great day and win the week!

04/24/2021

You have countless and I mean countless advantages as a first time homebuyer. Down payment assistance programs and grants from the government. All things that aren’t available to second and third time home buyers.

Read this lovely article below and learn a little bit. And as always, I don’t care if you use me or not I just want to see you win!

If you’re an aspiring homeowner wading into today’s ultra-competitive real estate market, you might feel a tad intimidated. But did you know that real estate rookies like yourself have some significant advantages over repeat buyers? Not only can first-time buyers access grants and down payment a...

04/22/2021

Eight simple ways to celebrate on for years to come!

Reduce, reuse, and recycle. Cut down on what you throw away. Follow the three “R’s” to conserve natural resources and landfill space.

Volunteer. Volunteer for cleanups in your community. You can get involved in protecting your watershed, too.

Educate. When you further your education, you can help others understand the importance and value of our natural resources.

Conserve water. The less water you use, the less runoff and wastewater that eventually end up in the ocean.

Choose sustainable. Learn how to make smart seafood choices at www.fishwatch.gov.

Shop Wisely. Buy less plastic and bring reusable shopping bags.

Use long-lasting light bulbs. Energy-efficient lightbulbs reduce greenhouse gas emissions. Also, flip the light switch off when you leave the room .

Plant a tree. Trees provide food and oxygen. They help save energy, clean the air, and help combat climate change.

Swipe swipe. Isn’t she something?