Investing in Real Estate

Many of our clients are investors. They are using real estate to subsidize their income or retirement portfolio. We have also had many clients who wanted to try their hand at investing and found it to be way over their heads. Why do some find it so rewarding and others fail miserably? We just wanted to address of few of the concerns that we feel makes or breaks an investor.

• Don't be in a hurry to find a property. Make sure it is right! Make sure the margins are there, make sure you have a realtor do a before and after market analysis for you using comparables IN YOUR PROPERTIES NEIGHBORHOOD. This won't guarantee you success, but it will put the odds in your favor. Keep in mind that in a very short time markets can change.


• Be prepared for the Worst! No one wants to think their hard work will fail, but prepare as though it could. Can you comfortably make the payments for 6 months in the event it won't sell? Are you prepared to find a costly repair that you didn't plan on? Do you have a backup plan in case that happens?



• Be there to overlook the work. Don't leave it all to subcontractors. You have to manage the work. Make sure you have the time and energy to do that. Contractors won't come when they say they will. They will do the work differently than you had wanted. Give them a concrete deadline that they can live with and then charge a fee for every day over that deadline. This will make you a priority. Have an incentive if they finish early. Write a contract that also includes them cleaning up any mess or debris their job created. You don't want to pay for clean-up that is not necessary. Make sure the work is quality. Shoddy work in one small area will wipe out all of the great things you have done. Save some of your budget for staging the home. It can make or break your transaction.

• Your first area of concentration should be curb appeal. Get it looking very attractive from the curb.

Investing isn't for everyone. Some don't have the skills, the time or resources. It isn't a sure thing. If you need some help or would like a free consultation with us we would be happy to arrange a time to meet with you. The Solutions Team has helped many people create their financial security. Call today for an appointment. 435 884 9449

We have 2 new listings that could be an investment opportunity. They are both in Tooele Utah. One Rambler that is nearing foreclosure. Their loss can be your gain. 602 E Wasatch Way. 4 bedrooms 3 bath. Gas fireplace, large family room. Great workshop and 2 storage sheds. Spacious private back yard waiting for your finishing touches. MLS # 705180 Possible Shortsale. $147,000 with bank approval.

Another darling tri level in Tooele, Utah with lots of potential. 3 bedrooms 2 bath, with an unfinished master bathroom upstairs. New tile floors, new carpet and paint. Hardwood floors. Fantastic neighborhood. price reduced 20K. Only $149,900.

Specializing in Recreational Properties

As the summer races away we wanted to remind you that we are specialists when it comes to recreational property. Whether you are wanting to get away to a mountain retreat, such as this beautiful retreat with 2 cabins on a 3.75 Ac. parcel that is very secluded in the Mt. Pleasant, Utah area, or wanting to escape the cold down to warmer climes. The Solutions Team can help you. We also have 2 fabulous parcels in the Woodland Utah that have year round access.

You could build your dream home on this 21 acre parcel or make a family get away that could be a heritage for generations to come.

We have had fun researching the gorgeous and diverse 29 counties in the Utah area. Go to our website to discover some of our great findings. Then when you know which county you are interested in we will send you a list of available properties in that county.

If there isn't anything available we will put on our hunting gear and find you one. We now have the resources to help you find that perfect property anywhere in the state. We can also help you with Arizona, Colorado, Nevada & Idaho .

Are you looking for fabulous ATV trails to explore this great state? Go to

http://4wheeldrive.about.com/od/utahatvtrailsmaps/Utah_ATV_Trails_Tracks_Maps_and_Directions.htm

We have seen places and marvels that we would never have seen had we not set out on this trek to discover Utah. Please call us for more information. We would love to help you find a family retreat! 435 884 9449 or 801 694 5232 Happy Trails!

Staging by Tthe Solutions Team

Recently one of our listings in Stansbury park mentioned that all realtors should offer the staging services that we do. We have found Staging to be one of the extra mile things we can offer to our clients to help them realize Top Dollar for their home. This service is available at no extra cost to our clients in both Salt Lake and Tooele County. Here are a few of the before and after pictures that will help you get an idea as too the effectiveness of home staging. If you would like to contact us at 435 884 9449, we would be happy to show you how it could benefit your bottom line. Training and 25 years in the business makes it possible for us to know how to get it done right. 95% of our business is by referral.

Before After

Note how warm and welcoming the after room is. Just a few little touches is sometimes all you need. We try to stage with the things you have on hand.

Welcome to the Solutions Team Blog

The Solutions Team Real Estate Services is now offering a new Tooele county listing. It is the perfect time to take a look at this great opportunity to obtain a fixer upper. The real estate market in Tooele County has been so hot, that it is very difficult to find horse properties under 300K. This new listing is in Grantsville, Ut. at 3883 Marshall Road. It is a fixer upper on 1 acre for only $169,900. It is a horse property and has a lot of potential. There are 2 homes on the property and a $6000 well allowance. The well is either too shallow, or has a cracked shaft. The owners are not sure which. They have tried purifying the water and have been unsuccessful after spending a lot of money. Don't miss out, as horse property is pretty hard to come by in Tooele County now. Live in the rear home while you are building or remodeling the front home. Tooele County has said you could make it a duplex if you connected the 2 homes with a garage. I will post a picture as soon as the siding on the rear home is complete. The front home is basically a shell.

Commissions in other states

Hi, I don't know if you noticed the article on NAR website this week about repricocity. All of the states surrounding us will allow us to receive a commission in their state even though we can't list or show properties there. In Nevada you do need to get certificate. of cooperation from the state real estate division. In Arizona you have to have a written agreement with the Arizona licensee. In wyoming you can't do any negotiations but you can receive the commission. Here is the website to see what different states allow. http://www.realtor.org/NCommSrc.nsf/pages/StateLicenseChart?OpenDocument&Login I only checked the states around us, ie Idaho, Nevada, Arizona, Wyoming, Colorado.

Summer has a new listing in Woodland Utah. msl # 660010 & 660012. You might have seen it in the newsletter. She has two parcels, 21 acres and 23 acres. They are $69K and $72K per acre. It is zoned for 20 ac. parcels. It is a beautiful property with streams and gorgeous mountain views. If you want more info call her at 801 979 4663.

The property includes water rights.

We have a new listing. IT is in Grantsville mls # 662130 it is a great brick rambler that is wheelchair accessible with 5 bed. and an office. 3 bath for only $179,900 on .31 of an acre. It has an amazing backyard with orchard.

Lloyd has a property waiting to close at the end of the month. He will then be leaving us. He is going to Allpro in Tooele. We wish him the best of luck.

We have some great new postcards available for your sold listings. If you would like to send them out call Julie. Have a great week.

Happy Holidays

Hi, hope you are all ready for a calm and peacful holiday season.

OFFICE UPDATE

Lloyd has his little fixer upper under contract and is getting ready to close. He has just been called to be the Patriarch in his church, so he will have some new heavy responsibilites. Congratulations Lloyd. Good bye Arizona. He was planning on leaving for the winter. I don't know if that will happen now. His 2 month old grandson is also having open heart surgery tomorrow, so keep him in your prayers.

Camille is all settled in Idaho and is loving it up there. She has joined Brys company and will be doing referrals.

Summer has been really busy, she has 2 new listings that are under contract, a new buyer that is looking for a townhouse condo in the SL area under 140K... and she is recovering from shoulder surgery, besides juggling her full time job and motherhood to 6. I wonder what she is doing with all her spare time? Give her a call if you know of a condo.

Julie has been dealing with a short sale nightmare, and a sellers house that she had trouble getting the appraisal. She is just about out of the woods with both of them. She will be really glad to see both of them close.


Terry is busy with his investing.... I think he and Cathy are going to own half of Tooele county before they are through. He is doing a great job with them.

We have just listed a good fixer upper in Tooele. It has a great yard, but the house needs some help. It is 109,900 with a $1000 clean up allowance. It needs electrical work, and they may give an allowance for that.
we would love for you to bring us an offer. I had it under contract 3 days after listing it, but the buyer backed out due to the electrical.

We are planning on taking it easy for the rest of the month. We have several closings next week, and then we are going to take a break. If you can't get us at the office try the cell.

They are working on a law that you can't have split closings. Someone had told me it went into effect Dec 1. I checked with a reliable source and it is a ways down the road. She didn't think it would pass. I will let you know when I hear.

Hope your holidays are fabulous. Love to all of you. Barb & Bryan