Courtesy Premier Homes Elite Realty
By Christine Graf
After several years spent flipping houses and acquiring rental properties, Kyle and Chrystal Chadwick have ventured into the sales side of the real estate business.
Their real estate company, Premier Homes Elite Realty, opened its doors at 66 East St. in Stillwater at the end of March.
“We started in real estate about three years ago with flipping houses and buying rental properties,” said Kyle Chadwick. “We’ve bought foreclosure properties—properties that were in distress, properties that no one else wanted, and ones that were eyesores for the community. We renovate them and make them absolutely beautiful again.”
The Chadwicks also own eight rental units and have another five under contract. Their rental properties are located in Mechanicville, Cohoes, Gloversville and Troy.
“We live in one of the properties we flipped in Mechanicville,” he said. “We bought it from HUD, and it was an eyesore to the community. We renovated the entire building pretty much all the way down to studs and then brought it back up again.”
In addition to flipping houses, Kyle works in the banking industry, and Chrystal is a biologist at General Electric. It was after people began reaching out to the couple for advice on purchasing real estate that they decided to open their own real estate brokerage company.
“People were reaching out to us before we were licensed. They were asking us to help them find a house or an investment property,” said Chadwick. “We were having to refer them to someone else.”
Because of their experiencing with flipping houses and purchasing rental properties, the Chadwicks have a unique perspective to offer their customers. They are able to provide guidance regarding buying, selling, renovating, and investing in rental properties.
According to Chadwick, inventory in the local real estate market continues to be low. Even though the increase in interest rates took a lot of buyers out of the market, demand continues to exceed supply.
“I think you are going to see a lot more listings coming on, and I expect it to shift to more of a balanced market. It may even go slightly towards a buyer’s market.”
Chadwick said that the foreclosure market is becoming active again now that the state foreclosure moratorium has been lifted.
“Foreclosures stopped during COVID, and there haven’t been foreclosure on the market in quite a while, but they are starting to come back.”
For more information, visit www.premierhomeseliterealty.com.