Wishing All of You a Happy Thanksgiving

11/22/16 • -1 min

Orange County, CA Real Estate Podcast with Torey Severino

With Thanksgiving right around the corner, I have many people to thank for making 2016 the year it’s been so far.

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Today, I just wanted to take the opportunity to say thank you. For all that 2016 has given me, I have a lot of people to thank and be grateful for.

First and foremost, I want to thank my family, especially my beautiful wife and daughter, for all their hard work, support, and dedication to our family.

Next, I want to thank all of our great past clients—each and every one that we’ve had the pleasure of working with these past 16 years. Your referrals, your kind words, and your continued loyalty are invaluable to us and our family.

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Thank you for all of your support.

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I also want to thank the new clients that I’ve had the pleasure of working with and taking on this year who are really excited about continuing our relationship. We plan on being there for all of your needs and all your referrals.

Lastly, I want to thank all the military veterans and active duty personnel who continue to protect this great county we live in. Without you guys, we would not be able to do what we love to do: help people.

From my family to your family, I hope you have a happy Thanksgiving. I look forward to talking with you soon!

With Thanksgiving right around the corner, I have many people to thank for making 2016 the year it’s been so far.

Selling a home? Get a free home value report

Buying a home? Search all homes for sale

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Thank you for all of your support.

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Previous Episode

What To Expect When Buying A Home

When purchasing a new home, I’ve found that most buyers tend to focus most of their attention on the initial down payment.

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Buying a home? Search all homes for sale

Over the last 16 years, I’ve learned that most home buyers are so focused on the initial down payment that they fail to take less-apparent costs into consideration. No matter what percentage you’re putting down for your down payment, it’s important to understand that you should have extra money set aside for the additional costs.

These costs include: Escrow fees, lender fees, appraisal fees, title fees, and prepayment on property or HOA taxes.

All of these costs could potentially add up to about 1% to 2% of your total purchase price. Depending on the market, we may be able to negotiate for you and get the seller to offer some form of credit. When the market’s a little less competitive, sellers may be a bit more flexible and more willing to negotiate, but when the market is hot and there are multiple offers on properties, we see this less often.

After escrow, your next costs are going to come from the home inspection. Plan to set aside $350 to $700 for the general home inspection. This cost is based on square footage and the number of bedrooms and bathrooms in your home. After we find out what needs to be repaired, additional inspections—like a termite inspection or a roofing inspection—may require you to hire inspectors to come out and look at the property, which can cost anywhere from $500 to $1,500.

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Be sure you’re not pinching pennies upon closing.

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The third cost to consider is moving costs. You’ll probably have to hire a moving company to come help you pack your things up and make sure they get to the next property safely. This can range anywhere from $800 to $2,500, or even up to $5,000 if you have the company come pack everything up as well.

Finally, be sure to have some money set aside to personalize your home. You may want to paint, make some upgrades, or buy some new furniture, so you’ll want to make sure you’re not pinching pennies when it comes time to close on your property.

If you have any questions about moving or about real estate in general, please give me a call or send me an email. I look forward to talking with you soon!

Next Episode

Why Multi-Unit Property Investing Is Heating Up

Have you ever considered investing in multi-family housing or apartments? Many investors are entering this market thanks to the stable returns it offers compared to the stock market.

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Buying a home? Search all homes for sale

Should you consider investing in multi-family housing or apartment buildings?

We're starting to see a lot of our investors that own residential investment property consider selling condos and single-family homes to leverage their equity into multi-family or apartment buildings. A multi-family unit has one to four units, whereas anything with five or more units is considered commercial.

So why would these investors do this if they've created such great equity already?

Well, the market is changing, and demographics are changing, too. People are renting longer these days, so we're starting to see an opportunity for a good stream of income from a multi-unit rental.

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These investments don't have the volatility of the stock market.

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If a single-family or condo rental home goes vacant, you still have expenses coming out of your pocket. With a multi-family rental property, you have multiple streams of income, which is a great way to build passive wealth and build retirement income.

You'll also build your net worth over time.

These properties are very desirable, but they can be tricky to find. If you can't buy in California in the area you want or the price you want, I can absolutely refer you to an agent in my network of top agents across the country in areas where there are great investment opportunities.

Secondly, there are a lot of tax and financial advantages. I'm no CPA or Financial Planner, but I've seen clients build phenomenal wealth over their career through property investments and apartments. With a lot of volatility in the stock market, many investors are leaning toward the real estate investment market. They know they can get a cap rate between 4% and 12% (the money you'll make after all the expenses) and realize that this is a lot better than they could do in the stock market or a bank.

We don't see the volatility because it's a long-term scenario.

If you're interested in learning more about investing in multi-family properties or apartments, give me a call or send me an email. Let's get the conversation started soon.