Archive for the ‘Buyers’ Category


Rehab or Rent Out? Real Estate Investment Tips for Beginners


With mortgage rates still hovering near historic lows, more people are turning to real estate investments as a way to build and preserve wealth. Whether you start fixing and flipping properties or buying and renting them out for monthly cash flow, either investment style can make your money work harder for you.


Before you start investing in real estate, it’s important to line up professionals to help you make offers when you find them. Among your team members, you will want to include:


            A savvy, local real estate professional


      A mortgage broker or banker to help you get financing


      A real estate attorney to write and reviewing contracts


      An appraiser who knows the market and will help you get a correct property appraisal


      An accountant who is well versed in real estate investments


      A good contractor, for rehabbing or repairs


 Then, you’ll need to determine your real estate investment style.


 Rehab or wholesale properties for short-term ROI


The advantage of flipping properties is that you can end up with a good return on investment(ROI) in the short term. For example, you buy a property for $100,000, and invest $50,000 into repairs. Once it’s rehabbed, your property is valued at $200,000, and you sell it for a $50,000 profit.


Once you know where to find rehab opportunities, you can easily repeat the process by reinvesting proceeds from a previous flip into the next property. This is where working with savvy real estate professional can help. They can help you find the right fixer-uppers that may be under market value. A Realtor will have access to many properties that may not be publicly available.


When you are evaluating a property, you will need to look at the whole picture to ensure it will bring you a profit once you resell it. Beyond the actual purchase price and rehab costs, your budget should include carry mortgage payments, property taxes, utilities, and insurance. If it looks good on paper, you can get your real estate team to help you quickly make the offer.


Buy-and-hold rental properties for monthly cash flow


If you find the right long-term buy-and-hold rental property, you can earn consistent cash flow each month. However, you’ll need to carefully review the operating expenses on the property and what tenants are willing to pay for the space to know if you’ll make or lose money each month.


Does your long-term investment make sense on paper? In other words, you will need to understand if your monthly cash flow will be positive or negative.


For example, say your total costs to buy a duplex was $20,000, including down payment and closing costs. You can rent each of the units for $600. Assuming your building is 100% occupied, you’ll make $1200 per month in income. Your expenses include mortgage payments, taxes, insurance, utilities, and management fees, and you want to set aside some cash each month for capital expenditures and routine repairs. You calculate that your expenses add up to $1100 per month. Once you subtract your expenses from your income, you’ll have a positive cash flow of $100 per month.


You can also add amenities, such as coin laundry and vending machines, to increase your potential monthly income. If your property has space to add a billboard, you can earn advertising revenue from renting that space, too. And when you decide to sell, your property’s value will likely have increased both from the overall rising property values and by the improvements you made to increase the cash flow.


Where should I start investing?


Contact us at West Realty by calling 970-631-7111 if you want to learn about investment properties in your local area. We can help you find the right properties that will fit into your budget and your overall goals.








Read Full Post »



Median Estimated Home Value

Median Estimated Home Value: $347K
Estimated Home Value 12-Month Change: +8.9%
Median List Price: $350K
List Price 1-Month Change: +0.9%
List Price 12-Month Change: 18.6%

This chart compares the price trend and sales volume for homes in an area. Home prices typically follow sales volume, with a time lag, since sales activity is the driver behind price movements.

Median Sales Price in St. Michaels

Median Household Income: $69,368
Household Income Brackets
Income Per Capita: $32,558
Median Home Age: 10
Own: 58%
Rent: 42%


Walkability Scores (out of 5)
Overall Score  0.4
Amenity Score  0.4

This neighborhood or ZIP code is rated for walking access to general points of interest, reflected in the overall score, plus amenities (such as retail stores) and leisure (such as restaurants and parks). Other factors considered in the scores are street types, weather, public transportation and population density


This chart shows average commute times to work, in minutes, by percentage of an area’s population

Travel Time to Work (in minutes)22
Average Commute Time


Population: 5.57K
This chart shows the distribution of the population of children by age range — from birth to 17 and the distribution of the population of adults by age range — from 18 to 75-plus

Households With Children
Households with children

Median Age: 33
Population of Adults in St. Michaels
Male / Female Ratio: 52%


2-Year Degree: 37%
Bachelor Degree: 26%
Post-graduate degree: 11%

This chart shows categories of employment within an area.


Orchard Park in Evans, CO

Median Estimate:

Homes:   Pop: 2,012

Ashton Estates in Greeley, CO

Median Estimate: $575,430

Homes: 43  Pop: 5,572

Grapevine Hollow in Evans, CO

Median Estimate:

Homes:   Pop: 2,012

West Fork Village Condominiums in Greeley, CO

Median Estimate: $174,920

Homes: 144  Pop: 5,572

West Ridge in Greeley, CO

Median Estimate: $446,410

Homes: 121  Pop: 2,067

Meadowview at West Bone in Greeley, CO

Median Estimate:

Homes:   Pop: 5,572

Drakes Crossing in Greeley, CO

Median Estimate: $317,060

Homes: 149  Pop: 2,067

Covington Knolls in Greeley, CO

Median Estimate: $769,900

Homes: 56  Pop: 2,067

West Bone Ranch in Greeley, CO

Median Estimate: $315,950

Homes: 203  Pop: 5,572

Considering a move to St. Michaels in Greeley?
Call Bev West at West Realty @970-631-7111
Get a Free Market Report Today!

Read Full Post »

We’re here to help first time homebuyers sift through the myths and the truths about buying your first home. West Realty wants you to be a smart homebuyer and will inform you about the whole process at every stage.

Learn about:
What’s your price range?
Balancing Budget and Home Size
Process Details
The Closing Process
Myths and Truths

Get started today and before you know it, you will be in your first home.  How exciting!! If you have any questions, always feel free to call Bev at 970-631-7111.

Read Full Post »

%d bloggers like this: