Lincoln Square / East Bowmanville
Rare pre-construction opportunity:
Off Market Site Now Available!
Standard Lot 25′ x 125′ RS3
Zoning allows a new home up to 4200sf
Lot cost $400,000
Build Cost ~ $800,000 ~ 3400sf
Total Cost ~ $1,200,000 Custom builder will build your new home. Est.
Finished Value ~ $1,400,000 Comparable new homes nearby $1.3 – $1.6M
Simple one loan Construction-to-Permanent mortgage program with great rates on 5, 7 or 10 year ARM’s!
Contact: Roger Luri – 312.380.9650
#newbuildhomes #newhomes #mortgage
✅ Get New Book on Amazon:
Don’t Buy a New House! BUILD IT https://www.amazon.com/gp/product/B09PRTVBMH/
✅ Amazon Author Page: https://www.amazon.com/author/rogerluri
I meet a lot of people who would like to invest in real estate, but say all of their funds are tied up in IRA’s or 401k’s.
Most people don’t realize that they can easily transfer an IRA or a 401(k) from a prior employer into a self-directed IRA account and then they’ll have complete control to invest in real estate or any number of other investments you choose.
When investments grow Tax Free it’s really a game changer for how quickly you’re going to compound your wealth.
If you’d like to find out more about how self-directed IRA’s work and see how you can start your own, my email is down below, just shoot me an e mail & I’ll send you a link with more information and contact info for the trust company that I use.
They can tell you all about how it works and get it set up for you in a matter of a couple of weeks.
✅ Get New Book on Amazon: Don’t Buy Multi-Family! BUILD IT https://www.amazon.com/gp/product/B09PSFMC6Z/
✅ Get New Book on Amazon: Don’t Buy a New House! BUILD IT https://www.amazon.com/gp/product/B09PRTVBMH/
✅ Amazon Author Page: https://www.amazon.com/author/rogerluri _________________________
✅ Let’s connect: YouTube: https://bit.ly/LD2YouTube
If you’re in a position where you need tax benefits to offset investment income, Cost Segregation + Bonus Depreciation give you a powerful 1 – 2 Punch of tax savings!
I’m talking about Bonus Depreciation which is a way real estate investors and developers can accelerate huge passive losses on their properties in their first year of operation!
It’s been an incredible benefit, but it drops to 80% for 2023 and 60% for 2024. For perspective, it has been only 50% most of the prior 20 years.
The good news is that if you are an investor, you can still take advantage of 80% bonus depreciation right now by purchasing an income property that is put in service before the end of this year.
So Let me back up for a minute and explain how Bonus Depreciation works.
Most people are not aware that you have the option to use what’s called Cost Segregation to depreciate certain components of your property faster.
The way it works, you have a cost segregation study done by an engineering company that specializes in Cost Segregation.
They divide the value of your building components in to 4 buckets:
Land – No Depreciation
Structural Elements – 27.5 year depreciation
Personal Property – 5 years
Land Improvements – 10-15 years
Using 100% bonus depreciation you can take all the items that depreciate in less than 20 years, accelerate their depreciation and claim all of these passive losses in your first year of operation.
The personal property and land improvement items that qualify for accelerated bonus depreciation are commonly about 30% of the building value / cost.
In our example, with total improvements at $1,500,000, 30% = $450,000 in passive losses you can claim year one!!!
if you have substantial passive income from any investment source, this is going to give you huge tax savings.
Whatever you can’t use, you can roll it forward.
Also, if you or your spouse qualifies as a real estate professional, you can use it against any regular income.
There are some great opportunities to pick up qualifying properties right now.
These can be multi-family rentals or even a single family or other smaller rental property.
The Cost Segregation study itself can be done after the 1st of the year, but the property needs to be purchased and in service (ready for occupancy and offered for rent) before the end of the year.
The clock is ticking, but there are still some great opportunities available.
DM or call me to learn more.
✅ Get New Book on Amazon: Don’t Buy Multi-Family! BUILD IT
✅ Amazon Author Page: https://www.amazon.com/author/rogerluri _______________________
✅ Let’s connect:
YouTube: https://bit.ly/LD2YouTube Linkedin: https://www.linkedin.com/company/ld2-development/ Facebook: https://www.facebook.com/LD2Development/
Now If you’ve been looking for a great new construction house here in Chicago and maybe you’re starting to feeling like the market’s got away from you,
you’re going to want to listen to this, beacause I’m going to tell you how you can save a lot of money on a new construction home and you may qualify for a mortgage as low as 5 1/8 to 5 1/2%!
Now my new Book Don’t Buy a New House! BUILD IT Tells you why you should build your new house rather than buying one.
This is especially true now because there are so few new construction houses available and with the current economic crunch, supply is likely be even lower for the foreseeable future.
To me, the biggest thing is that you’ll be putting most of the builder’s profits in your pocket.
When a builder sells you a new house here in Chicago, they pay about 7% in closing costs right off the top. So for example, on a new $1.4M house, that’s almost $100,000 off the top.
Combine that 7% with a bit lower profit for the builder and you can easily be starting out with maybe 15% additional equity from the day you move in, Which is awesome, right?
Right now we have a great new home site available in East Bowmanville, which is a cool little enclave in the Northern part of Lincoln Square just west of Andersonville.
We have a few great plans you choose from.
But here’s the thing I really wanted to share today local lender Wintrust is now offering an incredible mortgage program designed to help make your project simple and affordable.
It’s called a Construction-to-Permanent loan and it allows you to lock in your mortgage rate up front and then your builder draws the funds for construction as the house goes up.
When the house is finished, you move in and your mortgage is already in place! no closing, no closing costs.
But check it out! Today’s (10/18) rates for a construction to permanent loan start at:
Only 5 1/8 % for a 5 year ARM and only 5 1/2% for a 10 year ARM.
Of course this is a borrower needs to qualify for these rates which depends on your credit and financials.
And I want to be clear, I am not a mortgage broker, nor am I affiliated with Wintrust in any way, but this is an incredible program!
If this sounds attractive to you, just DM or contact me for more info.
And to learn more about the whole process, make sure you grab a copy of my book on Amazon from the link below:
✅ Get New Book on Amazon:
✅ Let’s connect: