(Florida investment property) Ways to Find Real Estate in Provo, Utah

September 2nd, 2008 admin Posted in realestate |

By Art Gib

If you are looking to purchase real estate in Provo, Utah, you have many options to find the property you are looking for. Each way has its own good points, as well as drawbacks. Before you start shopping for real estate, weigh your options so you can find the method that best fits your individual needs.

Looking on Your Own

Many people do not hire outside help when it comes to looking for real estate in Provo. Instead, they look through the paper and they search online listings. Then, they shop for the real estate on their own.

There are good reasons to do this. They do not have to pay anyone to find their property. That means that they might actually get a better deal on Provo real estate.

Unfortunately, this method is not for everyone. If you do not have strong personal negotiation skills, it is not a good idea to go this route, as the negotiating will all be left up to you. Also, you might miss some deals as you will not be privy to inside information.

Provo Realtors

Others like to use Provo, Utah realtors when looking for property. By hiring a realtor, you can get inside information that you would not be able to get on your own. Also, you can handle negotiations through your realtor and he can give you tips on the proper negotiating strategies for a certain property.

While many people find using a realtor helpful, there is a fee involved. Fees differ from one realtor to the next, so it is important to research realtors before making a decision. Run a search of all of the realtors in Provo, Utah and find out their individual rates and contract requirements.

A Combination of Both

Some people try both options at the same time. They hire a realtor and also look on their own. If they are able to find the property on their own, they will not have to pay the realtor finders fees. However, they will still have the benefits of a realtor.

This is the preferred option for most people. Two sets of eyes are better than one, and you are more likely to find the property you are looking for if both you and a realtor take an active role in the search. You may get away without having to pay a finders fee, and you are almost certain to find the property that you want.

When looking for real estate in Provo, Utah, understand that it is difficult to get away with not paying a fee at all. Realize that a fee is a small investment into finding the property that you want. There are a lot of real estate options in Provo, and it is often best to use a company that is familiar with the property in that area.

Art Gib is a freelance writer for PayneSmootGroup.com (http://www.paynesmootgroup.com), a website featuring Provo Real Estate.

Investing Full-Time is Overrated
By Alan Brymer

At any rate, I’ve met a lot of investors who are itching to get to the point where they are making enough money in real estate that they can quit their 9 to 5 and invest full-time. This seems like the American Dream, but I will play Devil’s Advocate and be the one guy to point out the less glamorous side of investing full-time:

1) Living off your investments is not the same as retiring early. I’m all for retiring early, but real estate is an active investment. It has been described as a second job. It refer to it as running a business. It can be a very lucrative business, but for the most part it is going to require time and effort to stay on top of things. And in many ways, running a business is more stressful, with more responsibilities, risks, and obligations than having a job.

2) Say goodbye to any and all job benefits. Because I am self-employed, I had to pay cold hard cash each time we had a baby, about $5000-6000 each time, in addition to our regular monthly insurance premiums. What a joke! Our health insurance did not pay for a daggone thing. Meanwhile, my sister and everyone around me paid $25 here, $30 there for doctor’s office co-pays, and nothing more. The echoes of my grinding teeth can still be heard in distant parts of the earth.

Now, of course, if your business is making money hand over fist, you might think $5000 here and there is no big deal, but I can virtually guarantee that these kinds of bills will come due on a month when you’re running low on funds, waiting an eternity for some buyer to finally get qualified.

3) Are you doing what you love with your time? Are you going to invest full-time because you love investing, or because you want to make more money? If the answer is “more money,” I challenge you to be true to yourself, and find a way to make more money in real estate part-time, and do what you love most of the day.

If you work smart, you can make enough money in real estate in a few hours each week to supplement even a low-paying job, like teaching school. Remember, real estate is just a way to have more of what you want in life. So what do you want?

4) Real estate is a cash monster. Investing requires cash-and lots of it. It doesn’t have to be yours, but it still has to come from somewhere. Few investors who don’t have enough private funds available can resist the temptation to use their own cash to do a deal. This is the beginning of the end.

No one will lend you money to pay your own bills, or your team, or your advertising, and every investor I’ve seen who starts using his own funds eventually runs out-especially those who sell houses by doing lease/options. It is an industry where unexpected surprises come along that tie up or cost us thousands at a time ($5,000 to clean up after a tenant here, $5,000 reduction in price when selling in order to make the deal work there).

It makes sense for a lot of people to work for their own income and let their investments compound and grow on their own, untouched. If you’ve ever read Mark Haroldsen’s book Financial Genius, he tells a good story that emphasizes the shame that goes along with “dipping into your capital” for personal use. Whether you subscribe to that belief or not is up to you, but he does make a good point (unless of course you make many times more by working on real estate full-time).

5) How good are you at finding motivated sellers? How consistently have you been finding deals up until now? I have seen a few investors strike it big with one great deal, quit their jobs, and then fail to find more deals consistently and flounder as a result. This is why I’m not big on the Leave Your Doofus Boss in Only 90 Days philosophy. One or two deals does not a business owner make.

If I had a wife and kids to feed and were considering the jump from part-time to full-time, I’d make very certain that I’m 100% capable of finding at least one deal per month, having done it consistently for at least a year first.

6) Do you really have enough to do for 8 hours per day? Ron Legrand said once, “If you can’t make money part-time, you can’t make money full-time.” Working part-time forces you to stay sharp and manage your time well. You are forced to delegate, because there is just not enough time in the day to try to do it all yourself. You use your time wisely and do more deals in less time.

I have seen a lot of full-time investors get stuck doing things like fixing up houses themselves, driving around looking for junkers, etc, because they figure “I’ve got the time.” If that’s what you truly enjoy doing with your life, then great.

If not, may I suggest a third alternative: Invest in real estate part-time until you can run your business successfully in just 1-2 hours per day. Then, if you are determined to do it full-time, but are happy with the income your are already making, then do it full-time but continue to work on it for only 1-2 hours per day. What should you do with the rest of the day? Whatever the heck YOU want to do with your life.

Alan Brymer is has been a full-time investor since his first property at the age of 22, His investment company was named by the Utah Valley Entrepreneurial Forum as one of the “Top 25 Companies Under Five Years Old.” Alan is also a frequent guest expert for the news media, having been featured on multiple television programs and magazines as a real estate expert. To read more of Alan’s articles and blog, go to www.AlanBrymer.com”>www.AlanBrymer.com.

Find the Property You are Looking for in Orem, Utah
By Art Gib

The housing market is booming in Orem, Utah, which is great news for consumers. Right now, there is a wide selection of real estate in Orem, just waiting for consumers to pluck it up. Whether you are an investor or looking for a new home for yourself, you should be able to find something in Orem, Utah.

Condos

Right now, condos are growing in popularity for people of all age. Single people and families alike are moving into condos at a rapid rate. The median price of a condominium in Orem, Utah, is $179,000. Condos range from one bedroom to four, and they can accommodate families of most sizes. Right now, 22% of the homes occupied in Orem, Utah are condominiums.

Two Bedroom Homes

Orem, Utah also has a wide variety of attractive two bedroom homes for sale. These are perfect for families with one child, as well as parents who do not have any children at all. Also, there are many single people that snatch up this kind of real estate.

The median value for two bedroom homes in Orem, Utah is $220,500, and they can be found for much less than that. A realtor or agent can help find Orem real estate that fits within your budget, and they can even help you make the right offer on the property.

Three Bedroom Homes

Three bedroom homes are also very popular real estate options in Orem. They are a good choice for the expanding family. They have a median average of $241,500 and just like two bedroom homes, can be found for much cheaper.

Four Bedroom Homes

With a median value of $5000 more than a three bedroom home, a four bedroom home is another excellent choice. Owners of four bedroom homes in Orem, Utah find that they get a home that has plenty of room and space for families to grow. Many are located in beautiful areas with gorgeous scenery and are considered to be a dream home to many.

No matter what size of home you are looking for in Orem, Utah, it is available. When you find the home of your dreams, make sure that you snatch it up immediately. Homes in this area of the country have very low turnover rates, so it is best to buy it when you find it, as you may not get the chance to purchase that particular home again.

There are Orem, Utah real estate professionals that will help you find the home that you are looking for in your price range. They can get you the number of bedrooms and square footage that you want and keep it within your budget. If you are looking for a spectacular piece of real estate that you can afford, look no further than Orem, Utah.

Art Gib is a freelance writer for PayneSmootGroup.com (http://www.paynesmootgroup.com), a website featuring Orem Real Estate.

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