Whoa! Was That Ethical? (Episode 56) S4 E10

You can watch this on YouTube: https://youtu.be/fl7Y4IG_eBc

When you hire a Realtor®, remember the advice of Warren Buffet: “In looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And if they don’t have the first, the other two will kill you.”

0:00 - Introduction. Also, Jason explains ethics with a great reference to the Pirates of the Caribbean’s Pirate’s Code. 1) Your return to shore wasn’t part of our deal. 2) You have to be a pirate to subscribe to the Pirate’s Code — and you’re not. 3) “The Code is more what you’d call guidelines than actual rules.”
2:36 - Who does the Code of Ethics apply to? Is there an order to it? Yes. The Code of Ethics is provided by the National Association of Realtors (NAR), so it doesn’t apply to all agents. Realtors are bound by it. The duties of the Code of Ethics apply to clients first, the public second, and other agents third.
5:03 - Fiduciary duty. “How do I know you’re going to be a good agent?” We have a fiduciary duty, which means your Realtor has duties to clients including care, obedience, accounting, loyalty, and disclosure.
7:26 - Article 11: Comparative Market Analysis (CMAs). If a Realtor doesn’t understand or have experience in an area, type of property, etc; they are required to disclose this fact as well as seek assistance from knowledgeable professionals. 
11:56 - Out-of-state agents. Storytime with Tyler & Aric. High-dollar seller in Utah was buying in another state with a close family friend. Some issues arose with the out-of-state purchase, which jeopardized our seller’s financial position. The out-of-state agent advised our client on Utah laws, and this represents a serious ethical breach. Open communication and intentional ethical posturing go a long way to avoiding ethical issues.   
17:13 - Interview your agent! Put your best questions in the comments.
18:15 - 2 Phrases that guide ethics. First: intention. What do you intend to do? Second: acting in good faith. Are you doing everything you can to represent your intention clearly? The Golden Rule is a pretty good way to evaluate how ethical behavior is. 
22:48 - What’d we learn today?
24:37 - Bloopers.

Pirates of the Caribbean: The Curse of the Black Pearl is copyrighted in 2003 by Walt Disney Pictures and Jerry Bruckheimer Films. The Utah Real Estate Show implies no ownership or rights whatsoever regarding the clip used in this episode.

* No Realtors were  harmed in the filming on this real estate discussion.

Please contact us to tell us you love us, you want to hire us! Call or text: 

Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687‬

Lender with Elite Team at Security Home Mortgage: 
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472

A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.

In Search of SMOOTH Transactions (Episode 55) S4 E9

You can watch this on Youtube.com: https://youtu.be/57pdJ3jU7mE

What makes a transaction smooth or rough? Knowing these 4 principles goes a long way to making sure your buy or your sell goes smoothly. 

0:00 - Introduction
1:27 - What makes good loan officers or real estate agents is someone who's been through rough experience. There's a reason we host the podcast: because we've run into serious challenges.
3:09 - You need education to make educated decisions. 
3:35 - 1. Know what you want...what you REALLY want. Knowing what your options are gives you a chance to select your experience. The smoother you want your transaction, the less money you'll end up with in your pocket. Most home transactions are complex. Realtors have fiduciary duty to ensure our client is not harmed. First piece of advice: seriously consider what exactly you want, and know what will happen because of the route you're taking. 
7:28 - 2. Collaborate and communication. Bring all professionals involved together and communicate openly and clearly. Communication is the most important part of the any transaction. Be super open with your communication. The lender will always find out. Don't guard stuff...it's going to get uncovered.
10:33 - 3. Don't assume. Double check your own work and the work from the other side. Don't assume you know what other team members know. Keep the professionals in their lanes. Take tax advice from an accountant, not a solar guy, for example. 
14:07 - 4. Reduce emotions. Emotions are dangerous. People will spend more on what they want than what they need. Professionals who ask a lot of questions are trying to help you approach decisions wisely. Story time with Aric. 
19:09 - What's we learn? 
21:08 - Bloopers

* No incredibly muscular and hairy chests were  harmed in the filming on this real estate discussion.

Please contact us to tell us you love us, you want to hire us! Call or text: 

Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687‬

Lender with Elite Team at Security Home Mortgage: 
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472

A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.

Domino Contract (Episode 54) S4 E8

You can watch this episode on YouTube: https://youtu.be/T3jiwSqvmy0

What's a "Domino Contract"? Why does it matter? Are you making sure that your contract falls inline with other contracts? Then you're playing dominoes well in real estate!

0:00 - Introduction
0:49 - The "Domino Effect" or "Domino Contracts" is when one contract has to close before another can close before another can close, etc. This can lead to a lot of stress if we don't plan how to handle the dominoes.
1:34 - Story time with narrator, Aric: properties A through E. Dollars complicate things, though. Not just purchase money, but earnest money as well. Make sure you have enough earnest money to cover your earnest money in the counterpart deal. Give yourselves a gap between deadlines - this is the same as the gap between falling dominoes. You can have those dominoes fall smoothly or fall chaotically. Does your agent care about this transaction happening smoothly?
6:48 - Settlement dates. You can't have all the settlement dates be the same. There is time needed between each property settling to allow each property to close. Allow gaps. 
8:27 - Aric continues his story. Each property required time to close including time for wiring funds. Be aware of wire-cut-off times.
9:36 - Possession time. Pay attention to your possession and negotiate it according to your needs.
10:20 - White-hair wisdom with Tyler. People feel stress because they feel like they don't have control. How do you get control? Explore your options (get education), and take action. Is your agent allowing you to select the type of transaction you need / want? Or are they just allowing the transaction to unfold? All parties need to be sharing information up and down the domino chain.
14:02 - Just getting a transaction done is not the same as getting a transaction done smoothly. 
14:30 - What'd we learn today?
16:27 - Bloopers.

* No dominoes were  harmed in the filming on this real estate discussion.

Please contact us to tell us you love us, you want to hire us! Call or text: 

Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687‬

Lender with Elite Team at Security Home Mortgage: 
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472

A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.

Which is It: Mobile, Manufactured, or Modular? (Episode 53) S4 E8

You can watch this video on Youtube.com: https://youtu.be/1JlOmaHi9uU

Is the home you're considering mobile, manufactured, or modular? Well, that's a really important distinction!

0:00 - Introduction
0:59 - Glossary time with Jason Christiansen. Mobile home: built on a chassis and has wheels, it can move. Though it’s a home, it’s more like a vehicle than a home. They’re considered personal property. Manufactured home: manufactured somewhere then brought to the final home site and affixed to the property. Modular home: it’s built in sections, then assembled at the final home site, and is considered easier to build, but essentially no different than a “stick-built” home.
3:52 - Can I lend on a mobile home? Well, mortgage lenders cannot because it’s in a park. A REAL estate agent can’t technically sell mobile homes since they’re PERSONAL property. If you take earnest money on a purchase and put it in a trust account for real estate…that could be considered fraud. Did you look at the lot fee or lot rent for the mobile home? The house is cheaper, but the lot fees can be MUCH higher than an HOA. Mobile home lenders can have much higher interest rates, and require a much higher down payment. 
7:13 - Manufactured homes MIGHT be able to get financing. 
7:34 - REAL property vs PERSONAL property matters. If it’s affixed to the land it’s considered “Real Property,” but there is debate about what “affixed” means. “Personal Property” is NOT affixed to the land. It can be carried off, or towed off, so it’s considered personal property. 
9:06 - Manufactured homes, can they get lending? They can if they were built after April 1976 – because of HUD standards that were put in place. There’s a tracking system for all manufactured homes. Don’t pull the plate off. Many types of financing are available on anything built after April 1976 (June 15, 1976).
10:27 - Modular homes can take “normal” mortgage financing. People can get really confused about what type of home they have: mobile, manufactured, modular.
11:11 - What did we learn today?
13:02 - Bloopers.

* No real personal property was  harmed in the filming on this real estate discussion.

Please contact us to tell us you love us, you want to hire us! Call or text: 

Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687‬

Lender with Elite Team at Security Home Mortgage: 
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472

A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.

Happy Grinch-mas! (Episode 52) S4 E7

You can watch this video on YouTube.com: https://youtu.be/ttlmN1-KXTE

Happy Grinch-mas, y'all!

We're celebrating with the Grinch again this Saturday, the 18th of December. And by "celebrating," we mean we are giving away stuff. HIVE Collective is matching donations up to $5,000! 

Donate today on Venmo: @HiveRealEstate (https://venmo.com/u/HiveRealEstate). 

The Grinch will buy groceries, buy meals, buy gas, and all sorts of stuff. Tune into Hive Collective's (https://www.facebook.com/hiveREcollective)  Facebook page on Saturday afternoon to see the festivities. 

0:00 - Introduction
0:30 - Jason Christiansen's reason to believe in Santa. The Spirit of Christmas is about people who give back. 
2:23 - How the Grinch works. Every year, Hive Collective saves a portion of EVERY transaction, and we give it away in fun ways: we buy meals, groceries, gas, toys, Christmas presents. We ask for donations, and Hive Collective matches those donations.
6:10 - Goal: Give away $10,000 this Christmas!
6:50 - A present from the Grinch — what? The Grinch sent Tyler a new pink shemaugh!
7:49 - Watch for us on Saturday on Facebook (https://www.facebook.com/hiveREcollective) for what the Grinch is giving away. This is how you get the most out of the holiday season! Merry Christmas, y'all!

Music used with permission: 

Canon and Variation by Twin Musicom is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/
Artist: http://www.twinmusicom.org/

Hip Hop Christmas by Twin Musicom is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/
Artist: http://www.twinmusicom.org/

What Makes a Contract (Episode 51) S4 E6

This episode can be viewed on YouTube.com: https://youtu.be/ZrYi6Zn_k7Y

Do you know how a contract works? Do you know when it binds versus when it can be voided? When can you legally walk away from a contract without penalty? These are all important aspects of contract law. 

0:54 - What makes a contract? We're using a lot of vocab today: void, voidable, executory, executed, duress, misrepresentation, etc. Is your agent qualified to represent you and your contracts?

1:30 - The basic elements of a contract: $500,000 for Jason's blue house. The represents an offer of consideration (something of worth) in exchange for other consideration. Tyler's $500,000 represents the buyer's "valuable consideration" and Jason's blue house represents the seller's "valuable consideration". When they agree to exchange, we have "acceptance." Without consideration or acceptance, there is no contract. For everyone's protection, it's wise to have this agreement in writing.

2:38 - Both parties also need to be competent and have the capacity (informed authorization to transact). There needs to be no duress (coercion to accept and agreement someone wouldn't otherwise accept, see 7:30). There also must be no misrepresentation (offering something as truth which later proves NOT to be the case, see 8:12). Finally, there must be no undue influence (when someone puts their finger on the scale and influences the transaction, see 9:30). 

2:50 - Story time with Tyler. Here's a commercial transaction that was presented for signature at a bar, after the one party had been drinking, and lacked the capacity to bind a contract. This results in a voidable contract - the presenting party is bound by the contract, but the individual without capacity is NOT bound to the terms...the contract is voidable at the option of the wronged party.

5:25 - The great thing about the Utah Real Estate Purchase Contract (REPC) is that it's voidable, meaning people can back without penalty out for contingencies.

6:10 - Executory vs Executed. "Executed" means all terms of the contract are completed. This really only happens at closing. Most people mean "Executory", meaning "signed by both parties". 

7:30 - Duress. "Sign this or else ___________" is a good indicator there's duress. Interestingly, the person you presented the contract is bound by its terms, but the person under duress is NOT bound by its terms. The contract is thus, "voidable" by the person under duress.

8:12 - Misrepresentation. Something about the contract is not represented correctly. Even if a contract is executed, there is still legal remedy to be sought in court. The core of misrepresentation is knowingly deceiving someone.

9:30 - Undue Influence. Story time with Aric. What happens when relatives get involved? They're not on title, but they exhibit influence over the transaction. Bringing a posse of people to review a home you're considering purchasing creates influence over the purchasing decision. That can result in undue influence. 

11:49 - What did we learn today?

13:33 - Bloopers.

* No undue influence misrepresented duress in this executed video. 

Please contact us to tell us you love us, you want to hire us! Call or text: 

Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687‬

Lender with Elite Team at Security Home Mortgage: 
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472

A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.

Becoming a Real Estate One Percenter in Your Twenties (Episode 50) S4E5

This episode can be viewed on YouTube.com: https://youtu.be/5bwBs7ncc3A

How do you get started in real estate when everything seems to be stacked against you? Can you really get into real estate? How? We talk about how to get started, and the things we wish we knew when we were in our twenties.

0:57 - Story time with Aric. Lots of people in their 20s have asked, "How do I get started in real estate when the world is stacked against me?"
1:44 - You need to have a desire to get ahead. That will lead to a plan. Desire fosters consistency, and more than anything, this is what twenty-somethings need if they want to get ahead. Sports teams practice consistency — and the more they practice the more reliable they become. Same applies with real estate. 
3:20 - Credit is a major issue. A credit report is largely composed of consistent credit history. Best thing you can do is to get yourself a credit card when you're 18. (If an adult will co-sign with you, you can start establishing credit before you turn 18, and this is huge.) A credit card continually extends credit, and you're continually responsible for it. This is the fastest way to build credit. Use a portion, pay it off in full. Keep your balance to 25% of your limit if you can. 
5:19 - If you don't have a credit card, contact a lender to get your bearings. Average home in Utah is $500,000. That can blow your mind, but you need a lender to help you figure out where you are and what you can really afford.
6:00 - Tyler put his daughter on his card before she was 18, and it really boosted her credit. 
6:44 - FICO score breakdown. 35% Payment history. 30% Amounts owed. 15% Length of credit history. 10% New credit. 10% Credit Mix. DEVELOP A CREDIT HISTORY and DON'T MAX IT OUT. 
7:32 - Make a plan, and get going. You could own several homes by the time you turn 30. Work with a lender to figure out what your payment could be, then "pay" yourself your theoretical mortgage payment every month. Get to know what it feels like. It will accrue into a sizeable down payment. Look for 3% – 5% down. That's $10k to $17k! 
8:50 - Go get some business partners. Your buddy could be the easiest way to get into a property. 
Rent out the rooms. 
10:00 - Rinse and repeat. Just keep buying homes.
10:17 - Parents, your kid could live in  your basement for FREE, or they could live in their OWN basement for FREE. Which one sounds better? You get peace and quiet, and they get a real retirement. 
11:15 - What'd we learn today? 
12:59 - Bloopers

* No one percenters were harmed were harmed in the filming on this real estate discussion.

Please contact us to tell us you love us, you want to hire us! Call or text: 

Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687‬

Lender with Elite Team at Security Home Mortgage: 
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472

A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.

REPC 15: Mediation or Litigation (Episode 49) S4 E4

You can watch this episode on YouTube.com: https://youtu.be/SFXf-nblDCo

The real estate purchase contract (REPC) provides for the ability to mediate dispute or to litigate dispute. Which one should you choose?

1:10 - What's mediation? A non-biased third party evaluates the dispute, and helps resolve the issue. Litigation happens in front of a judge, and the loser pays all fees. If you mediate, it happens in front of a mediator, and the parties split the fees. Mediation tends to be less expensive and faster. 
1:56 - When you present an offer, you have the chance to determine how disputes are resolved.
2:28 - "May be subject to mediation" means you can go to mediation, or you can go straight to court. 
2:55 - "Shall be subject to mediation" means you have to go to mediation first, unless it's particularly egregious. 
3:22 - There are good arguments for both sides. 
4:02 - It's really about what YOU want to do. Be aware and be prepared. Everyone goes into a contract happy. Think of this more in the vein of how you act when you get into a tangle with people. If an agent has a dispute with their client, they ALWAYS do mediation first. Buyers and sellers have the option to go to mediation first or go to litigation. 
5:15 - What'd we learn today?
7:02 - Bloopers.

15. MEDIATION. Any dispute relating to the REPC arising prior to or after Closing:  SHALL / MAY AT THE OPTION OF THE PARTIES first be submitted to mediation. Mediation is a process in which the parties meet with an impartial person who helps to resolve the dispute informally and confidentially. Mediators cannot impose binding decisions. The parties to the dispute must agree before any settlement is binding. The parties will jointly appoint an acceptable mediator and share equally in the cost of such mediation. If mediation fails, the other procedures and remedies available under the REPC shall apply. Nothing in this Section 15 prohibits any party from seeking emergency legal or equitable relief, pending mediation. The provisions of this Section 15 shall survive Closing.

* No mediators were harmed were harmed in the filming on this real estate discussion.

Please contact us to tell us you love us, you want to hire us! Call or text: 

Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687‬

Lender with Elite Team at Security Home Mortgage: 
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472

A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.

CAP Rate: Quick & Dirty Investment Analysis (Episode 48) S4E3

This episode is available on YouTube.com: https://youtu.be/4_OyHWqShGI

Do you know how to quickly evaluate a potential investment? CAP Rate helps you understand how much return the potential investment will earn, and give you a hint about whether or not it's a "good" investment.

1:06 - What is CAP Rate? Capitalization Rate is a way to evaluate investments. The higher the CAP rate, the better the investment. 
1:45 - You need Net Operating Income (NOI) and Purchase Price to calculate the CAP rate. 
2:10 - Net Operating Income (NOI) is calculated by adding up all your revenues and subtracting expenses. For example: revenues of $30,000 / yr - expenses of $10,00 = NOI of $20,000. 
3:15 - Divide the NOI by Purchase Price to get the Capitalization Ratio or CAP Rate. For example: NOI $20,000 / $500,000 Purchase Price = 4% CAP Rate. 
3:46 - Is 4% good or bad? It depends on your investment objectives. CAP rate is biased toward income properties (as opposed to appreciation properties). Make sure you do you due diligence to figure out more accurate income and expenses. Use the CAP rate as one of your investment evaluation data points — it doesn't tell the whole story. 
5:42 - CAP Rate Inversion is taking a known CAP rate and calculating a purchase price for a desired CAP rate.  Offering less for the same income will increase the CAP rate. For example: NOI / Desired CAP rate. For example, $20,000 / 5% (instead of 4%), gives us an adjusted purchase price of $400,000. Areas have a normalized CAP rate. If CAP rates in the area are around 4%, for example, and you spot an investment around 3%, offer a 4% CAP Rate.
6:57 - What'd we learn today?
8:32 - Bloopers

* No investors were harmed were harmed in the filming on this real estate discussion.

Please contact us to tell us you love us, you want to hire us! Call or text: 

Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687‬

Lender with Elite Team at Security Home Mortgage: 
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472

A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.

Are You Ready to Winter? (Episode 47) S4 E2

You can watch this episode on YouTube.com: https://youtu.be/yhuUdE7PuVM

Getting ready for winter can feel challenging. Here are some tips to make your life easier when snow is ready to fly!

1:22 - Making your home ready for winter.
1:36 - Removing hoses from hose bibs before frost. 
3:39 - Clean your gutters before water freezes. 
4:11 - Sealing cracks around doors, windows, etc.
4:49 - Automatic (programmable or learning) thermostats.
5:38 - Turn off your sprinkler water and drain it.
7:13 - Ice melt pellets. Don't use too much - it's bad for your concrete and your grass.
8:03 - Switch the direction of your fans to push air down. 
8:56 - Clear your yard of leaves and trimmed branches, etc. 
9:37 - Have ice scrapers ready for car windows - or use Tyler's Ziploc life hack.
10:57 - Change the batteries in your smoke detectors, carbon monoxide detectors, and flashlights. 
11:42 - What'd we learn today?
13:30 - Bloopers

* No icicles were harmed were harmed in the filming on this real estate discussion.

Please contact us to tell us you love us, you want to hire us! Call or text: 

Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687‬

Lender with Elite Team at Security Home Mortgage: 
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472

A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.

Calculating Your Return on Investment (ROI) Episode 46, S4 E1

You can watch this episode on YouTube.com: https://youtu.be/X8FxSNhlMiY

Determining your ROI is an important part your investment strategy. It helps you differentiate investment opportunities. It's not hard to calculate, but there are some tricks. 

1:00 - Returns on Investment - where do I make the most money. This is how you calculate it. 
1:23 - A quick example. Say you purchase for $300,000, then sell for $400,000. You make $100,000 profit, right? But that's not ROI, which is always expressed as a percentage. The formula is Profit divided by Cost. (Profit/Cost) = ROI. 
2:44 - In our example the ROI is a 33% if it happens in one year, but what if it takes 7 years? Well, the ROI's not so good. 33% / 7 years = 4.7% ROI year over year. 
3:38 - It's not just how much money did you make, it's how much money did you make over time?
4:00 - What's the opportunity cost? Calculating ROI can help you determine where to put your dollars. 
4:38 - What'd we learn today? 
6:12 - Bloopers

* No rates of return were harmed were harmed in the filming on this real estate discussion.

Please contact us to tell us you love us, you want to hire us! Call or text: 

Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687‬

Lender with Elite Team at Security Home Mortgage: 
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472

A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.

Better Ways to Leverage Money

You can watch this episode on Youtube: https://youtu.be/wlaT6KBml5E

Is paying down your mortgage the best way to "get ahead?" Maybe. It depends on what you want to do. There are better ways to leverage your money than converting it to equity in your primary residence. 

0:48 - Any extra money I have, I pay down my mortgage. It ads equity, but is it the best? Really, the question about "What's best?" revolves around the goal — what do you want? Equity is a good "safe haven" for money, but leverage could actually bring you ongoing wealth. Are you afraid of leverage?
2:36 - Many times people don't know what the options are, and so they settle on paying down a mortgage. We've got a case right now where the seller is selling for a huge gain and could go a few different ways with the cash. Should she pay capital gains and keep the change? Or should she leverage the cash into investment properties that generate income on 1031 tax-advantaged funds?
4:45 - The thing that's different is that you have one home paid off and cash in the bank. But an investment property has someone paying the mortgage, and now she has exponential growth.
5:18 - Do you buy a house because it's a place to raise a family? Think about it slightly differently: buy an investment that you also have the opportunity to sleep in. Create wealth longevity. 
5:48 - Avoid unnecessary debt. This is good advice. What is "unnecessary?" Story about Kmart vs Walmart. When the market went down, because Kmart owned the property, they also went down. Walmart, on the other hand, leases its buildings, and they are much more nimble if a market turns downward.
7:05 - We see the misnomer all the time: "I'm going to pay off my mortgage, and then I'll be free." It can take years, and in the end, you're really not free. So, in the moment, while you're here, leverage it, and make the most of it. 
7:51 - Parable from this guy that gave to one 5, to one 3, and to another, 1. It didn't work out so well for the guy that only had one.
8:11 - What'd we learn today?
9:58 - Bloopers. 

* No Dollar Bills will harmed in the filming on this real estate discussion.

Please contact us to tell us you love us, you want to hire us! Call or text: 

Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687‬

Lender with Elite Team at Security Home Mortgage: 
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472

A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.

REPC 14: Makes a Complete Contract? (Episode 44) S3 E14

How do you know you have a complete and binding contract? What's a dual contract and an incomplete contract? How do you avoid them?

0:54 - Story time with Jason. FHA amendatory language addendum that a builder doesn't want to sign until near closing (because it gives the buyer a veritable "get-my-earnest-money-back-for-free" exemption). See our episode on "Addenda" for more info: https://youtu.be/ZoVXSjSk_qg?t=150. Do you have complete contract if everything EXCEPT the FHA addendum is signed?
1:41 - It depends on whether there's a signed addendum stating that the FHA addendum will be signed.
1:59 - "Complete Contract" is what you're after. Texts and emails do NOT constitute a contract.
2:28 - If it's in writing, it's enforceable in court, but do you want to go to court with a complete contract, or with a contract, 4 emails and 15 texts? As always, no one cares about the contract UNTIL there's a disagreement, then it really matters what the contract is and what it says. 
3:15 - What's the worse thing that can happen? A Dual Contract. That means you have two contracts on the same item for different prices...also known as "fraud."
4:20 - The most-common dual contract is when you present one contract to the lender, and another for what's really going on. That's known as the f-word in real estate...fraud. 
5:08 - Complete contract allows for other self-contained contracts, like a bill of sale or repair agreement. 
5:38 - What did we learn today? 
7:14 - Bloopers.

*No complete contracts were harmed in the filming of this real estate discussion.

Please contact us to tell us you love us, you want to hire us! Call or text: 

Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687‬

Lender with Elite Team at Security Home Mortgage: 
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472

A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.

Hot Questions - Episode 43 (S3 E13)

You can watch this episode on Youtube: https://youtu.be/5i1h56aJPlY

How much heat can you really take? Today, we find out how much Aric, Tyler, Jason, and Joel can go through. Who will crack first?

1:09 - Rules. 1) As much (or as little) sauce as you want. 2) Drink whenever you want. 3) If you wuss out..."I lost" written on your forehead. 4) Profanity may happen.
2:46 - The first sauce: Hot Ones The Classic Hot Sauce: 1,800 Scoville. "What would your family and friends think you had done if you were arrested?"
3:31 - The second wing: Hot N Saucy Garlic N Pepperoncini Hot Sauce, 3,900 Scoville. "If there were only one event you could go to every year, what would it be?"
4:29 - Wing three: Mark's Barbados Style Hot Sauce, 15,500 Scoville. "What's the hardest thing about COVID?"
5:06 - Sauce four: Hellfire Devil's Blend Hot Sauce, 42,000 Scoville. "What's your proudest moment as a kid, 0-18 years old?"
7:06 - Wing and sauce number five: Hot Ones Los Calientes Rojo Hot Sauce, 49,000 Scoville. "If you could make one thing illegal, what would it be?"
 7:48 - Wing number six: High River Sauces Tears of the Sun Private Reserve Hot Sauce, 69,000 Scoville. "What area of real estate needs more transparency?"
10:33 - Wing number seven, and sauce number seven: Torchbearer Sauces Honey Badger Hot Sauce, 99,000 Scoville. "Who is the funniest person in your family, and why?"
13:10 - Wing eight:  Da' Bomb Beyond Insanity Hot Sauce, 135,600 Scoville. "If you could learn any one skill, what would it be?"
14:48 - Nine. Hot Ones Eye of the Scorpion Hot Sauce, 676,000 Scoville. "How do you express yourself creatively?"
17:15 - Round ten, the final wing. Hot Ones The Last Dab Apollo Hot Sauce, 2,000,000+ Scoville. "What do you secretly hoard?"
18:59 - We're "cognitively not there." Lots of crying, and sniffling. "I will cry with you."
19:57 - What'd we learn today?

*Many (perhaps most) taste buds were murdered in the filming of this real estate discussion.

Please contact us to tell us you love us, you want to hire us! Call or text: 

Joel Frost is an Appraiser with
ExcelAppraise
Reach him on Twitter @JustAskJoel
https://twitter.com/justaskjoel

Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687‬

Lender with Elite Team at Security Home Mortgage: 
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472

A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.

REPC 13: Do They Have the Authority to Sign? (Episode 42) S3 E12

You can watch this episode on YouTube: https://youtu.be/JdJioaHU2bE

It seems self evident: if someone is transacting in real estate, they have the authority to do so right? Well, that's what section 13 of the Utah Real Estate Purchase Contract affirms. But there are other times when it may not be so simple: what if there's a trust? What if someone dies? What if there's a company that owns the real estate?

1:05 - Give us a question in the comments!
1:29 - Story time with Jason about Section 13. Parents trying to sell a property property owned by LLC. Trying to figure out who could sign, and it turns out the son is the owner of the LLC...and it was being used in a Ponzi scheme. Feds ended up seizing the company, but this highlights an important challenge: who can sign on a property?
2:50 - How do you protect against authorization issues? Provide the trust documents, or the articles of incorporation. There must be proof that you have authority to sign on the property. There are a lot of entities that can own a home: trust, corporation, LLC, etc. Listing agent should verify who says they can sell the property CAN actually sell the property. 
4:00 - You don't need to use an agent or a title company, but this is a good situation where you're really going to want one. It's for when something goes bad.
5:00 - We often see a trust selling a property. Another situation that happens more than expected is when someone dies and now the heirs are trying to sell the house...but can't because they're not authorized. 
6:19 - You go to the doc for well visits. You should do the same thing with real estate professionals — like your agent, your lender, etc.
7:10 - What'd we learn today?
8:45 - Bloopers

*No trusts, corporations, or LLCs were harmed in the filming of this real estate discussion.

Please contact us to tell us you love us, you want to hire us! Call or text: 

Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687‬

Lender with Elite Team at Security Home Mortgage: 
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472

A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.