Why, Michael Sevig?

I noticed I don’t write to many blogs so I figured this would be a good time to go over some of the benefits of using me as your Real Estate Agent.

• * I don’t write blog posts.  I’d rather be working with clients
• * Although tentatively my hours are 10-7 Mon-Sat I don’t keep specific hours so if you desire a showing after 7 it can be done.  I want my schedule to best replicate the schedule that works for you.
• * I’m NOT a large volume agent.  My intent isn’t to have ten clients at one time.  I want to make sure that I am meeting the needs of all my clients to the best of my ability.
• * My communication lines are open – I regularly check my email, phone calls and texts.  Although my regular mode of communication is calling if you prefer texting or email first I do my best to use that first with you.
• * I work diligently to try and figure out which homes are best for you if you are a buyer and if you are a seller I do my best to figure out what the best price to list your home is.  If you are looking for a quick sale or would rather list as high as justifiable to try and maximize the dollar you get for your home.
• * Technology is used in Real Estate.  However, we don’t have to live by it.  If you prefer I do still hand write most of my contracts.  I will use technology and fill out the pages electronically if that is easier for you as well.  Technology does not control how we work together –  figuring out what is easiest and/or best for each transaction is what I prefer.
• * Worried about something?  Got any questions about Real Estate?  Feel free to drop me a line and i’ll get back to you as quickly as I can!

Welcoming the New year

2015 is going to be bringing some changes to the table.  Some new faces to the team.
Great new ideas and a revamped & redesigned website more use friendly and informational.

Our first change is a new face, Dawn Sevig. She will be helping with rentals, processing payments, and helping to organize  and update current information. We look forward to her joining the team.

Secondly we’re rebuilding and redesigning the website. So please excuse our messing while we toss around ideas and make a better website with tenants and owners in mind.

Finally our last and biggest change is updating the access to forms information and much more through the website as well as a second contact line to serve you better.

This is Babalou Properties signing off!

What type of investment potentials are out there?

It has been a very busy last few months which is always exciting but thankfully all is going well now and will be able to get back to doing blogs on here.  There are several ways of investing in properties.  The two that make the most sense to me right now are going the manufactured home route or going single family dwellings.   Here are two REAL examples of both of these and why it is advantageous to go this route.  I have tried to bring out both the positives and the negatives of both scenarios.  You will note that I feel that both of these routes are currently stronger to go than multi-unit housing.  I will include information on multi-unit housing on my next blog.

1.) Residential Property Home

Meridian Home

Apx. price $90,000 (can possibly get cheaper)

Monthly rent should get you $850

Yearly profitability

$850 * 12 =                                                                $10,200

Taxes and Insurance around                            –    $2,000

Utilities  (can have tenants pay)                     –    $      960

Profitability                                                         Net   $7,240

Appreciation (est. at 10% per year)                $9,000

Overall profitability                                               $16,240

Percentage of profit on home per year is 18%

Added benefit is depreciation / repair expense that will help your tax liability.

Additional expenses are repairs and vacancy factor which can also help you on your tax liability.

All homes will have different prices to purchase.  Taxes and Utilities will also will be slightly different per location.  If these numbers interest you, let me know and I can break down a few on the market for much closer to exact numbers.

2.)  Investing in Manufactored Housing

The advantage of this is it can be viewed very much like a Certificate of Deposit.  Very low initial price with great monthly rent coming in.  These can be a little more difficult to find as there are not as many of them on the market.  The downside of this investing style is you generally have to have all in cash and apprecation is very minimal.  You do have the benefit of knowing land will always have value so essentially you are paying very little for the home and almost all rent received this way becomes a straight profit.  The biggest advantage viewed by many people on these is the taxes and insurance are substantially lower.

The homes normally sell for around the $60,000 mark for three bedroom and $50,000 for a two bedroom.

Monthly rent $600 (2 bdrm) $700 (3 bdrm)

600*12 rent = $7,200                  700*12 rent = $8,400

Taxes and Ins per year = $700/year   T&I               -$850

Utilities                    -$570                        Utilities          -$570

Net Totals              $5,930                                                $6,980

Appreciation            –                                                       –

Profitability                 11% per year                              11% per year

As with all homes you will have upfront costs of repairs and also vacancy which will drop the amount you make.

All numbers are approximate and every home will have slightly different tax values.  These numbers are approximates and if you like the numbers you see here I will break down indivual homes for you when they come available with more exact numbers.

CURRENTLY THERE ARE NO MANU. HOMES ON THE MARKET THAT ARE IN MY PICKS AS NONE MEET PRICE AND LOCATION CRITERIA.  IF THIS AREA INTERESTS YOU LET ME KNOW AND WILL SEND THEM TO YOU AS SOON AS THEY ARE AVAILABLE.

***********   I will always try and save a few of what I view as well priced homes and also possibile manufactored homes under my best picks on my website.  Go to Property Search then click on the my best pics tab.***********

Hello Ada County Home Buyers!

Thanks to all that are visiting my Ada County Homes Blog!

Word of mouth is one of the biggest ways I use to get my name out there. One thing I have noticed is many of you are not from the Ada or Canyon County area. You may be wondering can I help you purchase a home? I am happy to say that YES I can!!! Through my referral network I line up three agents to interview with you (after they have completed an interview of mine) and then you pick the one you feel you click with the most! This works if you are either buying or selling a home anywhere in the USA. Don’t want to talk to that many agents or specific type of agents I will help you out there as well.

As to those that have joined outside the US I will do my best to get information to help you there. Again thank you all for joining and remember I always have time to answer your questions and if you hear of anyone who is interested in buying or selling Real Estate in Idaho or even has questions about Idaho Real Estate please have them contact me, Michael Sevig!