What would be three major mistakes most people make when purchasing a property?
Anthony: Three major mistakes when purchasing property are overpaying for a property, ignoring how bad or soon you’ll need to repair or replace something that is red-flagged on an inspection, and not considering how much of an impact the location of the property will have on the value and property management.
Why was it important for you to focus on the impoverished areas in Chicago?
Anthony: In the beginning, it was simply the most affordable way to begin buying our properties. We then realized that long term these neighborhoods will not be impoverished forever. When we see new streets, schools and retail development in neighborhoods that have for decades been considered undesirable, we know there’s an opportunity to get invested early.
Anton: Sometimes areas that are reported impoverished are really just on the bubble. If we gentrify our own communities, we won’t have to complain about outsiders coming in and pushing people out. Gentrification doesn’t have to have a negative narrative if we are part of it.
Talk about why you will be giving a home away in October.
Anthony: We partnered with the Cook County Land Bank Authority to raise awareness of the CCLBA’s extensive inventory of single-family homes, multi-units, commercial properties and vacant lots. CCLBA provides an excellent opportunity to buy real estate affordably. This is a great place for our community to start financial stability and a legacy for their families. We are part of a movement to be transformative in our approach to real estate development.
Those who are looking to enter this contest have until Sept. 15, 2019, to enter http://www.cookcountylandbank.org/homeownergiveaway/