All Forum Posts by: Alan Walker

I haven't heard of the Mac loan. If you'll be living in the property, the biggest difference between FHA and Conventional is the money out of pocket (3.5% or 5%), in either of those cases you'll be paying mortgage insurance. If you're using the proceeeds from the sale of your condo and are putting down 20%, conventional may be the way to go. Based on what I'm seeing for myself and for my investors, finding a Mother-in-Law opportunity is much easier than finding a fourplex. However, if you are living in the fourplex and are willing to pay above market rent for your unit while you live there, you could be setting yourself up for a great cash flow opportunity in the future.

I am a realtor and a flipper and finding the deal is by far the toughest part of this market right now.  I see a lot of wholesales come across my desk and they are too skinny to do.  I agree with everything I'm reading.  

I've been helping a lot of young couples buy homes with mother-in-laws this year.  It seems like one of the most popular housing types that people are looking for since multi-family feels overvalued when looking at them as strictly investment properties.  

I just helped a couple buy a home in Murray, just next to the I-215 entrance.  You may consider additional neighborhoods outside of SLC proper but that are close to the freeway.  The difference in price can be quite substantial.

2019 Forecast

I attended the Utah Board of Realtors Forecast breakfast on Friday where James Woods, a U of U economist spoke on the fundamentals of the Salt Lake Market.  

Do you agree with his forecast?

https://www.origin.realestate/blog/February-2019-M...

One of the best lessons I've learned from flipping is that not every remodel needs to be a 10. Sometimes, doing less can net you the same or more. Check out these ROI numbers. Have you had the same experience?

Hi Tiffany, one thing to keep in mind is the brokerage split when calculating if it's worth doing. The online class is about 600, 120 hours of education. Then passing the test is another (and I'm estimating based on when I took it) 300. Then you have to pay the state to get your license, another 300. Then learning the MLS and how to actually run a transaction will take 40-60 hours. You have to join the board of realtors and sign up for the MLS, another 2k. If you are only doing these two transactions, I would recommend finding a realtor mentor that can walk you through them. There are A LOT of ways a transaction can go wrong. I would recommend finding a realtor and paying them a referral fee (usually 25% of the commission) to walk you through the process, help you understand how to do open houses, etc... You really do need this help, I've seen a lot of agents make big mistakes that cost them money because they weren't clear on the paperwork and process.

So if we add up the numbers (again, just estimates):

Gross Commission on both transactions: 16500

Realtor Referral Fee: 4125

Education and Licensing: 2900 + at least a month of online education

Per transaction fee at a brokerage like Equity, 900 (450 per transaction)

Net after all expenses: $8575 and 2-3 months of your time.

In the end, I think the question is, does it make sense to make $15-20 per hour (if you are working this as a full time job) for these two transactions. And really, only you can answer that question.

Hey @Trevor Bingham , always happy to chat and answer any questions you have about getting your license. I think we've both been at the Ogden REIA meetings.

Fresh off the presses! Here's my January 2019 market report. Great info for investors, homeowners and buyers. Are you planning to buy, sell or both in 2019? My goal is doing 4 flips and purchasing 5 more rentals.

January 2019 Market Report

A lot of professionals I know are worried about having enough for retirement. Investing in real estate is a great option to gain appreciation and rental income for retirement. I'm putting together an email video series on the why, how and when of real estate investing. Not selling anything, just information to help you make the decision of investing for yourself. Beginning investors, this series is also for you!

https://www.useloom.com/share/200b292fa5724866a1e7...

 You can also sign up directly on the form at https://lnkd.in/dsRbV8Xhttps://lnkd.in/dcax3Kc

I talk to a lot of investors who have a spouse that is down on or scared of real estate investing.  Thought I'd share this article so you can share it with them.

https://www.simplifyingthemarket.com/en/2019/01/03/belief-in-homeownership-as-an-investment-is-far-from-dead/?a=447672-0f89bc0f81cbd0d1318b073d32b32076&utm_source=dlvr.it&utm_medium=facebook