Investing in real estate – it’s been done forever, and it’s one of the tried-and-true ways of building sustainable wealth over the long term.

But the property you invest in can make or break any profits you make. It’ll also play a key role in the amount of hassle you have to endure to manage the property. There are a ton of decisions to make when hopping on the real estate investment train, one of which includes determining whether to buy locally, or somewhere out of state, (or even out of country).

The question is, which one are you better off with?

There are a few factors you need to consider before making this decision.

ENTRY PRICE

One of the biggest reasons why people choose to invest their hard-earned cash outside of their local borders is because they can often find a much better deal elsewhere and get a solid return on investment. Many times investing locally means paying a much higher price just to get into the market. This is especially true for large metropolitan centers, where the entry price is often way over may people’s heads.

The most basic question to ask yourself if you’re considering purchasing locally is whether or not you’ve got enough capital to buy there. Tons of markets out there are ridiculously expensive (take NYC or San Francisco, for example), and you might not have that kind of cash to make the investment a viable one in places like these.

MARKET FUNDAMENTALS

Maybe you live in a booming area that demands high rent prices. Or maybe you don’t. The fundamentals of the market you live in will play a key role in helping you determine if investing locally is a wise move or not. It’s all about the location when it comes to real estate.

If your local area is experiencing a decline in the market or isn’t exactly the most inviting place to call home, it’s probably not the best location to snatch up real estate in hopes of it gaining in value. Or perhaps you’ve already got some real estate where you are, and want to diversify your portfolio to include a variety of markets. Regardless of what your specific scenario is, it’s probably a good idea to move your money elsewhere.

PROFIT TYPES

You’re obviously in the market to invest in real estate to make a profit, or else, what’s the point? But how you profit needs to be determined.

There are essentially two forms of profit – through cash flow (profits made from rent after expenses are deducted), and appreciation (how much property values increase over time – also known as ‘equity’).

Some markets are known to produce a decent monthly cash flow, but appreciation is pretty scarce (take the Midwest, for instance). Other markets don’t allow for much cash flow because of the sky-high expenses, but appreciation is super healthy (like L.A. or Miami). Maybe you can get lucky and find a market that offers both. Either way, it’s good to know what forms of profit you stand to collect on.

SOURCE OF PROPERTY MANAGEMENT

Do you prefer to be a hands-on type of investor? Or are you OK with the expense and the level of trust needed to let a property management company do the managing for you? Investing long distance is great if you’re the type that isn’t too concerned about having to visit the place in person on a regular basis, or if there’s plenty of money in the pot to dedicate to property management.

Of course, the quality of the property management firm you employ makes a huge difference here. A crappy property manager can wind up costing you a fortune. If you’re going to be relying on your property manager to make sure your investment remains in tip-top shape, there’s a certain level of trust that is needed for that.

A good property manager can save you time, headaches, and even money if they’re one of the good ones. And if they wind up being a dud, fire them and hire another. There are definitely good ones out there – it’s just a matter of finding them. And probably the best way to do that is to chat up your real estate agent and ask them for recommendations. Odds are, they’ve got some.

At the end of the day, it all comes down to what you’re most comfortable with. That really is a huge deciding factor when it comes to investing locally versus long-distance. No investment is worth losing sleep over. And if you can sleep comfortably at night with you investment decision, you’re golden.

“American writing is distinctive, diverse, and comes in many forms from across the nation. As the only museum devoted to American writers and their works, AWM connects visitors with their favorite authors and writings from more than five centuries, while inspiring the discovery of new works of every type – poetry, lyrics, speeches, drama, fiction, nonfiction, journalism, and more.”

AWM Website

In these days of book banning and questionable sources, it’s especially wonderful that Chicago is host to a unique venue that celebrates America’s unique contributions to the world of the written word in all its forms.

Openedin2017,  The American Writers Museum, 180 N. Michigan Avenue, is the first (and only) museum of its kind in the nation. It celebrates writing of all kinds…journalism, poetry, fiction, nonfiction, children’s literature, etc. And it works overtime to reach every sector of reader and writer, whether it’s through exhibits like the Word Waterfall for kids or a section for distinct Chicago voices like Ida B. Wells and Studs Terkel. 

For those of the computer generation, you can harken back to the Stone Age in their collection of vintage typewriters. (Maybe you’ll see the one on which your grandmother wrote her high school term papers!) They host ‘Typewriter Tuesdays,’ featuring  special keyboards belonging to famous American writers, including Helen Keller’s braille writer.

Dark Testament: A Century of Black Writers on Justice

“Bringing the gifts that my ancestors gave,

I am the dream and the hope of the slave.

I rise.”

—Maya Angelou

This exhibit honors the significant contributions of Black writers to American literature and history, with the goal of understanding racial injustice. 

The exhibit is both interactive and online, and features writings from prominent Black American writers from the end of the Civil War through the Civil Rights Movement, including W.E.B. Du Bois, Richard Wright, and James Baldwin, and runs through May 6, 2024.

The Kids Are Alright

The Children’s Literature Gallery at the American Writers Museum features an interactive reading space under a whimsical mural by Paul O. Zelinsky and a cozy reading area filled with books for families with young children so they can develop strong reading and writing skills. 

Celebrate The Holidays with AWM at Get Lit: Sun, Surf, Santa Claus

AWM is celebrating the world of beach reads at their holiday party on December 12, from 5:30pm-7:30pm. 

The museum is hosting a fun-filled, think-warm holiday celebration featuring pictures with Santa, dressed in his tropical finest, and ‘Santa’s Storytime,’ where “the jolly man himself will read passages from your favorite beach reads,” according to AWM’s website.

The event also features lots of unique activities, including a Holly Jolly Book Swap (bring your old books and get new ones), Also, you can create stunning beach scenes on sugar cookies, and write letters to Santa on a vintage typewriter. 

Adults 21+ can enjoy beer, wine, and the night’s specialty cocktail, Rudolph’s Mai Tai, a classic tiki cocktail…and no worries, a non-alcoholic version also is available. 

The American Writers Museum is open Thursday-Monday, 10am – 5pm, and is closed Tuesday and Wednesday. For tickets and more information, click here. 

Alison Moran-Powers and Dean’s Team Chicago

Now that it is finally cool enough to crank up that oven it’s time for roasting vegetables! Roasting brings out the natural sugars in vegetables, which helps get that char and crisp tender texture. They make a great flavorful side dish, or you can add meat or eggs for a healthy main dish, and make even the most anti-vegetables, veggie-hating person turn into a roasted veggie lover!

Here’s what you should know:

Be creative when choosing vegetables to roast. Relatively any vegetable can be roasted. We think of root vegetables like onions, potatoes, carrots, and parsnips when roasting, but don’t be afraid to expand. 

Try cruciferous veggies like cauliflower, brussel sprouts, and broccoli. Try a colorful medley of peppers thickly sliced with onions. Tomatoes are delicious roasted since it really intensifies that tomato flavor (especially the not too wonderful out of season tomatoes). Asparagus and zucchini really take to roasting also. 

Roast an entire bulb of garlic with olive oil, wrapped in foil till soft. It’s great on toasted French bread and makes the most flavorful mashed potatoes!

Vegetables will all roast at different times. The one constant is a hot oven. Preheat your oven for at least 20 minutes at 425 degrees. Preheat your sheet pan for ten minutes. 

Always use oil to get that delicious roasted flavor. Olive and avocado oils are both healthy and flavorful, but you don’t need more than a tablespoon or so for an entire sheet pan.

 Toss the cut vegetables with the oil and any other seasonings. Your choices are endless! Sea salt and freshly ground pepper is always a good start, then add whatever you like. Garlic is good on nearly everything, fresh or granulated. Red pepper flakes add a spicy punch. Fresh herbs like rosemary, thyme, parsley, and chives add dimension. Carrots and different squashes are great with a brown sugar glaze. 

Place vegetables cut side down on your preheated baking sheets, leaving space. Roast until tender and slightly charred. If you are roasting several different vegetables, simply stagger the cooking, starting with long cookers like potatoes and carrots and ending with quick cookers like beans, peppers, and zucchini. Your total time will go from 15-20 minutes for asparagus to 40 or more for potatoes and carrots. 

Happy roasting!

Kathleen Weaver-Zech and Dean’s Team Chicago

Two holidays down and one left to go!  It’s time to get into the Christmas spirit with the following holiday events for this weekend.

If you’ve missed Chicago’s 110^th Christmas Tree Lighting ceremony this past Friday, don’t fret.  The City of Chicago Christmas Tree will remain on display until early January at Millennium Park (55 N. Michigan Ave.) near Washington Street and Michigan Avenue in the Loop.  This year’s tree is a 45-foot Colorado Blue Spruce donated by the De La Cruz family of Darien, IL and is decorated with tons of twinkling lights and crowned with an illuminated star!

The largest outdoor and indoor holiday experience is being held at Navy Pier (600 E. Grand Ave.) in the Streeterville neighborhood through December 31^st.  Light Up The Lake features dazzling outdoor lakefront light displays, an outdoor ice skating rink with a breathtaking backdrop of Lake Michigan, toasty firepits to cozy up at while roasting s’mores, fireworks on Saturdays, and more.  The indoor winter fun is held at the gigantic 170,000 square foot Festival Hall featuring kiddie train rides, a regulation-size Alpine ice-skating rink, a 600,000-bulb light show made up of themed sculptures, a Winter Wonderfest Forest, and more.  Embrace the holiday season with this perfect balance of free and ticketed activities for guests of all ages!

Check out the new and exciting displays, photo ops, and interactive programming for this year’s ZooLights held at Lincoln Park Zoo (2400 N. Cannon Dr.) in the Lincoln Park neighborhood now through January 7, 2024.  Once again, over 2.5 million LED lights including hundreds of luminous LED displays, and a variety of seasonal experiences will be featured along with carolers, glow toys, hot chocolate, firepits for roasting s’mores, and professional ice carvers!

A one-of-a-kind experience awaits you at Gallagher Way (3635 N. Clark St.) in the Wrigleyville neighborhood now through January 7, 2024.  Wintrust’s Winterland at Gallagher Way offers wintry attractions inside historic Wrigley Field which includes a 12,000 square foot ice rink for ice skating and ice bumper cars, on-field games, a miniature infield train, carnival rides and games, and more!

Explore rich holiday traditions from around the globe at this year’s Christmas Around the World at the Museum of Science & Industry (5700 S. Lake Shore Dr.) in the Hyde Park neighborhood now through January 7, 2024.  Once again, its four-story Grand Tree is surrounded by over 50 trees representing Chicago’s various communities showcasing their holiday celebrations.  For more seasonal cheer, visit the Holidays of Light exhibit recognizing the traditions of Chinese New Year, Diwali, Kwanzaa, Ramadan, Hanukkah, Visakha Puja Day, and St. Lucia Day.  Don’t forget to stop by and visit Santa in his festive photo studio for your holiday souvenir photo!

Finally, Chicago’s original Hanukkah bar returns by popular demand for its third year in a row.  8 Crazy Nights takes over The Graystone Tavern (3441 N. Sheffield Ave.) in the Wrigleyville neighborhood now through January 7, 2024.  In addition to Graystone’s customary 14,000+ blue and white lights and Hanukkah decorations throughout the indoor area, its beer garden has been weather-proofed for those who wish to take their celebrating outdoors.  Plus, guests can dine on Hanukkah classics such as matzo ball soup, latkes, and more, as well as play board games like Mitzvah Match, Schmear Build-A-Bagel card game, Jewish Guess Who, and more!

Sue Moss and Dean’s Team Chicago

If you’re tired of turkey and stuffing after this week’s celebration, a great alternative for dining on Friday or any other night might be Gyu-Kaku, a charming Japanese BBQ in the West Loop. 

It was at Gyu-Kaku that I learned that “small plates” are a universal phenomenon.

My friends and I sampled from the Happy Hour menu (Monday–Friday 2pm–5pm,) where prices are reduced, sometimes by half, on their regular menu. And for someone like me, who’s never experienced Japanese BBQ before, it was a great introduction!

Gyu-Kaku, or “Horn of the Bull” in Japanese, according to its website, provides an authentic Japanese yakiniku (grilled barbecue) dining experience where customers share premium cooked meats over a flaming smokeless grill, while sipping on Japanese sake, shochu, and frosty cold beers. (Or, one of their tasty tropical drinks! I recommend their Tropical Sunshine!)

We shared several small plates from their huge menu, including Yuzu Shishito Peppers which were fried shishito chili peppers in Japanese yuzu citrus sauce. While they promise that they’re “almost always mild,” my friend warned me that every ninth or tenth might be …spicy! Delicious, tangy and tender. Another friend had their Napa Kimchi Napa Kimchi, which was lightly spicy pickled cabbage. Another friend had us salivating over their Spicy Addicting Cucumber, which was fresh cucumbers in crunchy garlic chili oil, with a dash of Shio Tare, sesame oil, and sesame seeds.

I was crazy for their Vegetarian Bibimbap, a huge bowl of seasoned rice festooned with lightly steamed asparagus, mushrooms, broccoli, and other vegetables. I also appreciated the handy guides and attentive servers who told you exactly how long meats and fish should cook. 

My friends and I enjoyed cooking proteins such as fresh shrimp, spicy pork, and thinly sliced steak. We shared it all while laughing and talking. 

A word about the service: they’re attentive, yet not intrusive. They work overtime to make sure you understand their cooking concept and make sure you enjoy the process as much as their food. 

I wished I’d had room for dessert! S’mores sounded like such a fun way to use the smokeless barbecue to end the meal. Also, they had mochi and tea ice cream, and several other selections. Next time!

I’m not the only one who’s impressed. So is this Open Table reviewer:

“Always a fun experience as a date or with a group great meal prices for what you get the cocktails are sweet. It is a great interactive experience. I personally enjoyed going on a date or bringing a group of friends and it’s always fun and the flavor is always up to par.”

Gyu-Kaku Japanese BBQ is located at 1364 W. Randolph. They are open Sunday–Thursday from 11am–10pm, and Friday and Saturday, 11am-11pm. Reservations are recommended. Click here.

Thankful for you!! 

Alison Moran-Powers and Dean’s Team Chicago