Harper College CE Offers Three New Courses in Buying Real Estate – Starting Soon
Whether you are a first-time home buyer, looking for a second home, or interested in generating income from Real Estate, we have the course for you! Read our interview with CE Instructor Michael Olach below to learn more about buying property in the current state of the market.
FIRST-TIME HOME BUYER AND DOWN PAYMENT ASSISTANCE PROGRAM: Are you a first-time home buyer? Do you need assistance for your down payment? This two-hour course offers valuable insights in the process of home ownership. Learn everything you need to know about buying your first home. Learn the roadblocks and become familiar with contracts, closing costs, inspections, appraisals, income requirements, gifts for down payments, ways to get down payment assistance, grant programs, interest rates, credit requirements, and negotiating with banks and sellers. LPF 0305. Check our fall catalog for future course dates.
INVESTING IN REAL ESTATE: Whether you are a novice or a seasoned investor looking to invest in real estate, you will gain valuable insights into the process of purchasing investment properties. Learn everything you need to know about buying your first rental property and start building your real estate portfolio. Learn what to look for in foreclosed properties. Learn the roadblocks and become familiar with contracts, closing costs, inspections, appraisals, down payments, interest rates, credit requirements, and negotiating with banks and sellers. This class will be a valuable tool to begin your investing in real estate. LPF 0304, Thursday, 7/6, 6:30-8:30 p.m., Tuition: $10.
PURCHASING A VACATION PROPERTY, SECOND HOME, OR RETIREMENT PROPERTY: Learn about the best way to purchase your own vacation home or second home. Understand bank requirements for buying and managing your vacation home or second home. We will cover down payments, credit requirements, affordability, and the specific rules for purchasing different types of vacation homes or second homes. This is not a class on buying or owning time shares. LPF 0306, Thursday, 8/10, 6:30-8:30 p.m., Tuition: $10.
About the Instructor: Michael Olach is a Loan Officer with 19+ years of lending experience. He has also been a continuing education instructor for over 13 years at community colleges, school districts, and non-profit groups throughout Illinois. A mix of hands-on and classroom experience position him to give you the advice that you need to make smart real estate purchases. His classes are designed to give you the direct knowledge to make informed decisions in our ever-shifting economic landscape. Michael will teach 3 classes this spring and repeat them in the summer. For more information visit www.hapercollege.edu/ce.
Click here to register online or call 847.925.6300.
Learn more about Olach and his insights into buying in the current real estate market by reading our interview below:
We’ve heard so much about home buying in the last few years. How do you assess the current state?
Rents have been rising consistently, and sometimes dramatically, over the past few years. Owning a home may be less expensive than paying rent. Interest rates are hovering at historic lows, and housing prices are starting to rise. Buying a new home probably makes good sense for most people.
What is the first thing that you tell to first-time home buyers?
To sit down and write a budget. I think some people may put more time into planning their fantasy football team than they do planning their own finances, but a budget is the key to home ownership.
What makes buying a vacation home different than buying your primary residence?
Purchasing a vacation home is a big commitment. Research is going to be the key for anyone making this kind of purchase.
Are there any regional differences that people should be aware of when they are thinking about buying property in other parts of the country?
Yes, weather! Owning a property in Arizona, for example, is much different than owning a property in northern Wisconsin or southern Florida.
If you have money to invest, is this a good time to invest in Real Estate?
Values of homes have risen a bit over the past few years, I believe homes are still at a discount compared to 10-12 years ago. Interest rates are still low. Also, the rental market is on fire. Rents are much higher than compared to just 4-5 years ago.
What is one thing that you can tell your students that you don’t think other people in your industry are saying?
Don’t rush your decision to buy your first home. It’s one of the biggest decisions you’ll probably make in your life. Also, as I said earlier, budgeting. Many people in the real estate business do not emphasize this enough to their clients.
What has drawn you to teaching and what should students expect from your classes?
I really like educating people about their finances; whether it’s real estate, budgeting, or investments. Students should expect an informative and a fun class. Students will definitely walk away with a ton more knowledge and information than when they walked into the class.