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Two real estate agents and a lender talk about real estate in Utah. It‘s a homegrown real estate podcast for buyers, sellers, investors, and agents.
Episodes
Tuesday Aug 03, 2021
Tuesday Aug 03, 2021
Watch on Youtube.com: https://youtu.be/s_st13NcgUw
What is a rate lock? How does it work? Do you really "lock" your rate? What happens if the lock expires? Your lender should have the answers to these questions. Naturally, ours does.
0:34 - A rate lock locks an interest rate. It requires 3 things: a borrower, a property, and a mortgage program.
1:01 - Can I lock a rate for a long time? Like 6 months? Yes, but there's a cost because lenders want to make interest on their money — they'll make money on a different borrower.
2:05 - What happens when your lock expires? You pay to maintain the lock, or you let it go. Construction is tough...there can be delays.
2:39 - What'd we learn today?
4:17 - Bloopers
*No rates 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.
Tuesday Jul 27, 2021
Tuesday Jul 27, 2021
Watch this episode on YouTube.com: https://youtu.be/7wQuqw8lq_A
Now that you've got your short-term rental, how the heck do you manage it? Dedicate some serious time to thinking through what your guests will want or need, and make that available for free or for a fee. You're after good 5-star reviews. Keep your guest in mind, and you'll get the the good reviews!
0:54 - In our last episode, we talked about getting started in short-term rentals (https://youtu.be/nE3x90Ij6d0). Watch that one before you watch this one. Now, let's talk about managing your Airbnb / short term rental.
1:24 - The rule of the game is REVIEWS. Everything in this episode is to ensure you have good reviews.
2:05 - 3 types of management: 1) Personal or self managed, 2) Co Host, 3) Management Company. Your goal is to get to "Super Host" status as quickly as possible.
3:58 - Who cares about "Super Host"? Airbnb is saying, we love this host — they've got it figured out. You're more likely to have a better experience with a Super Host.
4:50 - What about costs?
5:38 - There are "standard" fees to expect, but you can add fees for providing additional services.
7:08 - There are some hosts that host experiences or have additional amenities.
9:09 - How do you get the word out that your short-term rental is ready for action? Boost your ads organically and naturally by providing amazing service and value to your customer. All the ranking platforms will start to realize how you do business. (This is a truth that applies in all industries!) Do anything you can to increase your visibility and stand out.
11:07 - Kirt got to "Super Host" status by treating it like a business. Treat it like a business people!
Be engaged in your business! Stay on top of everything. Provide an amazing experience.
12:58 - You're probably thinking, "This is a lot of work!" You're right, but you have resources. YouTube University, Facebook groups like Airbnb Professional Hosts Utah (https://www.facebook.com/groups/336052973556548). Be constantly learning.
13:40 - The Airbnb app. Tons of tools for the guest and for hosts. Automated messages may be the best invention ever. Send a welcome automated message. Send a mid-stay message. Send a "We hope we earned a 5-star review" end of stay message. Set the expectation in the first message, "We want a 5-star review, and here's what we're going to do to earn it."
17:14 - You can also review your guests.
18:35 - Leave us a 5-star review. :)
19:08 - What'd we learn?
20:50 - Bloopers.
*No reviews 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:
We want to thank our guest, Kirt Forakis. He's a local business owner and friend. Take a chance to visit him and his businesses:
Do some straight up research on Airbnbs. Stay at Kirt's! https://abnb.me/dlcztRWMVhb
Or, get real affordable healthcare: FlatRateDoctors.com
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.
Tuesday Jul 20, 2021
Tuesday Jul 20, 2021
Watch on YouTube.com: https://youtu.be/nE3x90Ij6d0.
How do you get into the short term rental game? Learn how with your special guest, Kirt Forakis. Want to have a nightly rental, a coveted Airbnb, or a VRBO? Here's how you get into one. Find out how to evaluate an Airbnb. Does it have the "Convenience Factor"? Will your city shut you down? Will your HOA take protection money to operate a nightly rental? And just what will you have to do to a place to get it ready for nightly rental?
0:58 - How Kirt got into nightly rentals — there's better return on investment (ROI) than long-term landlording.
2:25 - There's two types of nightly rentals...no three: 1) Room share; 2) Owner-occupied room share; 3) Stand alone nightly rental
3:10 - Mostly, getting started means talking to a lender. For traditional room share and owner-occupied room share, it's a normal "owner-occupied" loan — they're not income property loans (investment loans). If it's a stand along investment property or a legal multi-unit property, the rules change.
4:25 - How to find the property. The biggest thing is the "Convenience Factor". Treat it like a hotel. Be close to the freeway / attractions / etc. Be close to a grocery store — people want to use the kitchen! Restaurants are key as well.
5:40 - What about regulation? CC&Rs and HOA rules can KILL nightly rentals. Know before you buy! HOAs can also change their rules after you've spent all this cash to set up your short term rental. HOAs can be good as well - they'll keep the neighborhood looking good. There are also HOA resorts for Airbnb.
8:01 - This is a business, treat it like one. Use a business plan. Be calculated in how you approach the deal. Assess your risk and reward.
8:45 - Comparing properties, i.e. crunching the numbers. Use Airbnb's site. Break it down by square footage and rate - you'll get a range of what short term rentals go for in the area. Work backward from the numbers, and build in some padding for unknowns.
9:40 - Start a little lower to make yourself attractive, and keep the property rented. Down time is lost revenue. You're hunting reviews.
10:08 - Do a business plan. It will save your bacon.
10:40 - You need to be engaged and communicative. Customer service goes a long ways. Property managers can charge a lot more for nightly rentals.
11:30 - Making your house into a good short-term rental. Start with a remodel (you'd do this on a long-term rental as well). Make it durable. Furnish an decor is next. Amenities should be included. Think games, subscriptions, etc. Parking. Convenience = $$. Have an answer before they ask, and you'll make dollars.
13:45 - Reviews are everything. We'll talk more about this next week.
14:01 - What'd we learn?
*No long-term rentals 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:
We want to thank our guest, Kirt Forakis. He's a local business owner and friend. Take a chance to visit him and his businesses:
Do some straight up research on Airbnbs. Stay at Kirt's! https://abnb.me/dlcztRWMVhb
Or, get real affordable healthcare: FlatRateDoctors.com
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.
Tuesday Jul 13, 2021
Tuesday Jul 13, 2021
Watch on YouTube: https://youtu.be/YYrtq84dFrk
How to Hunt Houses like a frickin' angry pack of hungry African wild dogs chasing a gazelle.
Your house hunt can be exhausting, but it doesn't have to be. Avoid house blur, use the King Method, dodge frustration, ditch buyer fatigue, and use your time efficiently.
0:46 - How do you do this house hunting thing?
1:19 - Let's start at the beginning. I make tons of money, so I qualify for any house price, right? No, go talk to a lender first...even if it's a year in advance. Find out now where the issues are. Get everything lined up now.
3:58 - What type of home are you looking for? Investment, condo, townhome?
5:05 - You're prequalified, now what? Get input from trusted advisors like friends and family. What do you like or not like? Take that info, and compile a list of what YOU want. Trust your opinion more than the opinion of your entourage.
6:49 - Do you have to use an agent? No. Why would you want to go unrepresented? 1) Save your time and 2) reduce your liability.
8:52 - Ask you lender which agent to use. They should have a recommendation.
10:10 - You can get pricing data from a website, but it lacks the context an agent can bring. Be aware that non-MLS sites might already be sold in a market of limited inventory.
11:21 - You hired your agent to ask you the tough questions you may not want to confront.
11:45 - Have your list, and share it with your agent.
12:05 - The King Method. Pick one house, and only compare the house you're walking through against only one property...the king.
13:42 - Home Blur - when you see so many homes that they all kinda blur together.
14:20 - Biggest cost of business is your emotional capacity. It's not time or money - it's how much you can handle.
14:37 - The effect of buyer fatigue is real. Buyers get discouraged and they feel like they need to get something, so they end up settling on a house they don't like.
16:26 - What'd we learn today?
17:55 - Bloopers
*No packs of angry, hungry African wild dogs 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.
Tuesday Jul 06, 2021
Tuesday Jul 06, 2021
Watch this episode on YouTube.com: https://youtu.be/6_LhrGj0gus
What are you required to disclose when selling a house? What are you allowed to ask about when you're buying a house? Material facts (must be disclosed), but potentially interesting information that doesn't change the value of the home need not be disclosed. But remember, if a buyer asks a specific question about any aspect of the property, a seller MUST tell the truth. There's no protection for lying about real estate.
0:59 - Story time by Aric. The biohazard cleanup adventure. An individual died from natural causes in his home. There was a biohazard cleanup in advance of the estate sale. "Do I have disclose that someone died in here?"
5:29 - You do not have to advertise that someone died in the property but if the buyers ask, the sellers have to reveal the truth.
5:53 - Same thing with "cleaned" meth. If it's been cleaned up, it doesn't have to be disclosed.
6:12 - This is called "Stigmatized Property". Includes murder, suicide, public intrigue, paranormal activity, criminal activity, debt collection, hazardous material, and minimal stigmas.
6:52 - The big one in Utah is Meth. If it is not "currently contaminated," you don't need to disclose. If you don't KNOW, you can't disclose it. In other words, if you suspect something, that's not the same as knowledge of something.
8:33 - Most people think the seller disclosure document is all there is...but REPC section 7 outlines several other disclosure requirements: lead based paint, environmental problems, builder or zoning code violations (including non-permit improvements), the CC&Rs, rental contracts, preliminary title report, water shares, etc. 7A to 7L.
11:30 - Sellers might not want to fill it all out. "Wouldn't you want these documents if you were buying the home?"
12:35 - Tyler's pet peeve: seller's provide the CC&Rs! Don't make the buyer or the buyer's agent track it down. The seller has easier access.
13:29 - Rentals and short-term bookings. Seller has to disclose this information. If they don't, the seller is in breach.
14:59 - When can a buyer back out on a failure of the seller to disclose? Well, in the worst case, it will land in front of a judge. So, think like a judge. If it feels like the seller is trying to withhold, the judge is going to penalize the seller.
15:25 - Listings today could go VERY quickly. If a buyer puts up, say $15,000 in earnest money, and the seller fails to disclose information, the seller must come up with $15,000 because they defaulted. Ouch!
18:03 - What'd we learn today?
19:46 - Bloopers.
*No ghosts 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.
Tuesday Jun 29, 2021
Tuesday Jun 29, 2021
Watch this episode on YouTube: https://youtu.be/jcBmTvlHK_I
Learn the basics of how to become a good landlord. There's a lot to it, and this is just an overview, but it gives you a good take on the basics.
0:50 - Different types of rental units: rent your basement, rent rooms (roommates!), entire house, mother in law apartment (MIL), accessory dwelling units (ADUs), duplex, triplex, four-plex, and apartments.
2:15 - First step - choose an investment (rental) type. Second step, how do you want to run your business? Self managed or property manager? Money offsets stress. What level of involvement are you comfortable with.
3:45 - Are you going to be a giant prick? Take the time to think of the tenants and their situation on "move-in" day. Give the tenant reasons to have positive sentiment. If you're self managing, make them welcome. If you're working with a property manager, impose this method on your property manager — you're the business owner!
5:58 - Here's how you select your tenant. How to get references, and get face to face. Know what you're ok with.
7:07 - Pets and service animals. Have a policy beyond "no pets allowed" — set the expectation that they will pay more if there's an animal in the house.
8:35 - Credit and background checks. Do them. There are 3rd party sites that do them for landlords. Look at the most-recent history.
9:35 - Discrimination. Fair housing applies to landlords. It's not a good idea to discriminate against protected classes. Don't get into a lawsuit. It's just easier. Race, color, religion, national origin, sexual preference, marital status, age, and handicap.
10:59 - It's a business, even if you're renting to family. Have a contract that sets expectations, and enforce the contract. If you can't enforce it, lean on a property manager who will. The landlord pays when there's no expectation. Contracts actually PRESERVE friendships.
17:30 - How do you set rent at the property?
16:10 - How are you going to manage repairs? Home warranty? Are you handy? Do you know industry pros?
20:21 - Have provisions in your contract to be able to evict an non-paying (or otherwise unprofitable) tenant. Be aware of your local laws and risks.
21:30 - What did we learn today?
23:00 - Bloopers.
*No landlords 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.
Tuesday Jun 22, 2021
Tuesday Jun 22, 2021
Watch on YouTube: https://youtu.be/E8Q1WQixuUQ
Who are the agents in this transaction? Well, check out section 5 of the Utah Real Estate Purchase Contract (REPC), and you'll know who exactly represents who!
Do you have full representation or do you have limited agency? This section ensures people know who can talk to who about what.
0:44 - Who represents who. What's a broker vs an agent?
1:39 - Full agency vs limited agency. If a single agent represents both buyer and seller, that agent can only be a limited agent — that's limited agency. Also, if two agents from the same brokerage represent the buyer and seller, you STILL have limited agency, because it's the broker who actually represents the buyer and seller.
2:13- The problem with limited agency.
3:20 - An agent who is "facilitating" a transaction is not the same as and agency fully representing a client. This is call "full" agency or "designated" agency.
4:28 - What about unrepresented buyers and sellers.
5:20 - There's a "Code of Ethics" violation if the agent bypasses other side's agent and goes directly to the seller or buyer. The Code of Ethics in question here is the National Association of Realtors (NAR) Code of Ethics. Realtors® are subject to the Code of Ethics, but not all agents are Realtors! Unrepresented buyers and sellers are stacking themselves up against professionals.
6:55 - What'd we learn today?
8:25 - Bloopers.
*No UBs 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.
Tuesday Jun 15, 2021
Tuesday Jun 15, 2021
Watch the video: https://youtu.be/5RELVJgCYzw
Buyer's remorse (or seller's remorse) can ruin an otherwise excellent transaction. Problem is: we naturally do this to ourselves. Taking a few steps during the planning phase of your purchase, can give you the best chance to Save Yourself from Transaction Remorse!
1:04 - Spicy remorse and buyers remorse. Not doing a budget and not reading HOA CC&Rs are a recipe for heartburn.
2:42 - How loan officers budget things: the 50% back end ratio. Evaluating the true affordability of a mortgage payment. It's not about ratios, it about your comfort with the payment (and what you can't buy because you're buying a house).
5:35 - This is why lenders and agents spend time asking LOTS of questions — things you may not have thought of, but that could contribute to transaction remorse. We want you to know your options, the consequences of those choices. This is to help reduce your anxiety.
6:46 - What contributes to anxiety? Not understanding stuff, and feeling like you don't have control.
7:33 - What if you buy to little house? That causes anxiety too!
8:59 - Seller's anxiety, what? Yes, sellers have anxiety as well, even in this market. "Where the devil am I going to live?"
9:39 - What did we learn today?
11:05 - Bloopers.
*No feelings 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.
Tuesday Jun 08, 2021
Tuesday Jun 08, 2021
Watch on Youtube: https://youtu.be/22U4HWFMaGY
Dive into Section 4, the "sneaky" section of the Utah Real Estate Purchase Contract (REPC). What gets prorated, and by how much? What are special assessments, and who pays them? What fees might occur during a transaction, and how are they split?
0:46 - 4.1 Prorations - or "pro rata" if you like your Latin. Haha. Rents and taxes get prorated (or proportioned) between the buyer and seller.
1:45 - 4.2 Special Assessments. A special assessment is charged to specific, local homeowners for a capital expense (like a sewer line, an elevator, or a road repair) that is valuable only to those properties. It may be imposed by an HOA or a local government. Seller needs to disclose assessments, and may be responsible to pay them EVEN if the transaction closes before the assessment is imposed! Be transparent!
3:30 - What does "...shall survive closing" mean? After the contract is "executed" or "finished," these things continue.
4:50 - 4.3 Fees, costs, and payment obligations. There are deposits that need to transfer with the transaction (like a security deposit).
6:18 - Lease contracts supersede the purchase contract. That may seem backwards, but remember the tenant has the right to fulfillment of their contract as well.
7:12 - 4.3c is Jason's favorite part of the contract: Change of Ownership fees. These can be expensive, and the Real Estate Purchase Contract (REPC) overrules the Covenants, Conditions, and Restrictions (CC&Rs).
8:45 - Transfer utilities at settlement. The seller is responsible before settlement, the buyer is responsible after settlement. This is regardless of possession.
9:48 - The title company holds the money and makes sure everyone gets paid. Afterward, the seller gets to keep all the rest, which is called "proceeds".
10:03 - What'd we learn today?
11:30 - Bloopers.
*No pies 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.
Tuesday Jun 01, 2021
Tuesday Jun 01, 2021
Watch on Youtube: https://youtu.be/HG-eRoBpjqQ
There are 15 types of terms available in the MLS. Five are common, and 10 are not — do you know what they all are? We do.
0:35 - What are the terms sellers would accept?
0:45 - The 5 most common terms. Cash, conventional loan, FHA (Federal Housing Administration loans), VA (Veteran's Affairs), USDA (US Department of Agriculture rural loans).
1:55 - Don't put terms you aren't going to (or can't) accept.
3:05 - Exchanges. There are other "less-common" terms out there. Let's start with "Exchanges." This is a 1031 Exchange that allows the buyer to defer capital gains for tax purposes.
3:50 - Assumptions. Simple assumptions bring the buyer on, almost like the seller is a co-borrower. Qualified assumptions mean the buyer has to qualify for the mortgage. Assumptions are great because in the future, when mortgage rates are higher, these loans become more attractive for assumption.
5:30 - DPA. Down Payment Assistance programs.
6:07 - Commercial financing required. If you've got 5 units or more, you HAVE to go commercial. You can do income-producing property up to 4 doors. Mixed use properties also fall under commercial financing required.
7:10 - Seller Financing. The true wild west of terms. Traditional financing may not touch these buyers, but there's a huge opportunity here. Sellers can really make it worth their while. It opens a lot of options.
8:30 - Lease Options. It's rent to own - monthly or yearly. You have the option to purchase at a set price. But there are un-intended consequences to the seller.
10:12 - Use these options - and make the listing more attractive for it.
10:40 - Buyers, make sure you know what you're qualified for, and use that information to make your searching more streamline.
10:59 - What did we learn today?
12:12 - Bloopers.
*No Cash deals 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.
Tuesday May 25, 2021
Tuesday May 25, 2021
Watch on Youtube: https://youtu.be/9YonZfQL3n4
11 Tips on how to buy new construction. Buying a home from a building can be a frustrating process. Make sure you've got good people protecting you along the way.
0:43 - Who does the home building agent represent? The builder. You can buy without an agent protecting you, but why would you? Most of the time, using an agent does NOT increase the cost of building.
2:44 - The challenges of limited agency (representing the seller and the buyer). Have a separate agent — on both sides.
4:06 - When selecting a builder, watch how the builder stands behind their clients.
4:25 - Edge Homes says, "Once you go under contract, we won't change the price." That means you get "built in equity". That means that when you move in, you will move into a home that has appreciated from the price you bought it for.
6:13 - Builders use a builder's private contract, NOT the Utah Real Estate Purchase Contract (REPC). Read your contract!!!
7:02 - The process. You get under contract, now what? You go to the design studio to pick all your options (which is the hardest part -- to stay in budget). Then the builder engineers the home and get permits. Then the property gets put on "the dig list". Then, a good builder provides updates every week or two along the way. You work on the loan along the way.
8:57 - How many crews? With so many moving pieces, Murphy's Law states that if something can go wrong, it will go wrong. Use your agent to work through those issues.
9:55 - There are deadlines in new construction that is different than existing homes. The Dig meeting, the 4-way, the inspection, etc. The sooner you know something is wrong, the better. Bring it up early! You agent helps you all along the way, especially when something goes wrong. "Agents naturally assume they can argue with anyone." Hahaha. But that protects you.
12:20 - Your builder provides a warranty on the home. Different builders have different levels of warranties. Edge provides a 10-year structural. Tyler shares a warranty story, 3 years after the home was built. There's a good chance something will go wrong. That's why there's a warranty!
15:59 - It's sad when buyers walk into a home, love it, and then realize they can't afford the build. Talk to your lender first! That's our first episode! (https://youtu.be/tBUSa1wqaMI)
17:15 - Even if you can only buy a condo, buy the condo. You can't out-save the market. Then you OWN the equity and appreciation.
18:10 - What'd we learn today?
19:46 - Bloopers
*No 2x4s 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:
Travis Maddox
Edge Homes
(801) 472-7159
tmaddox@edgehomes.com
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.
Tuesday May 18, 2021
Tuesday May 18, 2021
Watch on YouTube: https://youtu.be/aoN0xL1kAcE
What's a real estate love letter, and why should you avoid them?
0:23 - Tyler received a real estate love letter, and Jason reads it.
1:01 - The letter was cringy!
1:16 - 7 HUGE Fair Housing protected classes.
1:59 - Why love letters are an issue for buyers (and buyer agents).
3:55 - Love letters are an issue for sellers as well (and seller agents).
5:00 - Agents, you cannot discriminate on these protected classes...even if your sellers direct you to
6:02 - You CAN discriminate on non protected things like price, possession, and appraisal guarantees. Do your research, customize the offer to the sellers, make it competitive, and then appeal to their emotion to seal the deal.
8:12 - Offer summaries FTW! Make a summarized list in simple language.
11:27 - What'd we learn today?
12:58 - Bloopers
13:25 - National Association of Realtors Fair Housing ad
*No broken hearts 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.
Tuesday May 11, 2021
Tuesday May 11, 2021
Watch on YouTube: https://youtu.be/vjmOCMnnT0E
You should always use a pro! Here are 3 stories about times when we DIDN'T use a pro...and paid for it. These stories illustrate why we do this show. We do this show for YOU!
0:42 - Tyler's experience selling his own house (FSBO), then purchasing another house as an unrepresented buyer. He got taken for a ride!
1:10 - Nobody told Tyler that it's FREE to use a buyer's agent.
1:23 - Pros have a fiduciary responsibility to their client.
2:14 - Jason's story - he refinanced 3 times in 2 years. He'd spent $15,000 refinancing his mortgage...to lower his payment a few dollars per month.
2:54 - "I did my little piece right..." but I missed the big picture.
3:43 - This is to help everyone out.
4:05 - Aric's story. "I didn't know what questions to ask."
4:52 - We talk about these things constantly. There's a lot of stuff for us pros to learn - why not invite everyone in on the conversation?
5:10 - "The more information you have, the less chances you have for buyer's or seller's remorse" ... or losing your shorts.
5:50 - The threat to shave Tyler's head.
*No reasons 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.
Tuesday May 04, 2021
Tuesday May 04, 2021
Watch on YouTube: https://youtu.be/dsbqmsbY8T8
What is the debt to income ratio, and why do you care when you're trying to buy a house? How much debt you have greatly influences how much a lender is willing to lend to purchase a home. Ideally you have a huge reportable income with very low debt — that gives you the best debt to income (DTI) ratio, and makes you the most lendable.
Here we talk about front end ratio, back end ratio, gross income, recommended ratios, reported income, write offs, and working out a plan with your lender. Remember that it takes a higher amount of income to offset every dollar of debt.
1:01 - I make lots of money, but when I talk to a lender...I don't qualify for a house.
1:59 - Lenders use ratios. "It's not about the amount of money that's left. over, it's the percentage of money that's left over!" — Jason Christiansen
2:26 - Gross income - yearly income before anything gets taken out.
2:58 - Front-End ratio - mortgage to income ratio.
3:19 - Back-End ratio - all debt to income ratio.
3:32 - Recommended ratios: 33% front end and 50% back end.
3:49 - A lender doesn't want to put borrows in a situation where they cannot repay.
4:49 - "Reported" income: pay that gets reported to the IRS for taxes.
5:50 - Write offs make it hard to qualify for a loan.
7:30 - Let your lender know what your plans are.
8:01 - It takes a disproportionately high amount of income to offset new debt.
9:19 - What's we learn today? summary.
9:39 - Like, comment, and subscribe.
10:00 - bloopers
*No write offs 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.
Tuesday Apr 27, 2021
Tuesday Apr 27, 2021
Watch on YouTube: https://youtu.be/S7Dnwkvodro
Credit scores need a little more explaining when it comes to a mortgage. What's "good enough" credit for a loan? What elements influence your credit score? How do you raise your credit score?
0:48 - What's a credit score? ...How likely are you to pay back a loan?
1:35 - Most lenders use a FICO 8 score. Car loan credit is different than mortgage loan credit.
2:16 - How credit scores are computed. Mostly payment history and credit utilization. Then age of credit, credit mix, and inquiries.
2:26 - Payment history is the biggest one. Good payment history means you're paying on time and if you have "derogatories" (lates, and delinquents).
3:35 - Explanation of the biggest elements of credit: history, credit utilization, and length of credit.
5:00 - You're not responsible for fraud in your credit.
6:30 - If you want to work the system like a credit ninja, pay down your credit utilization to 50%, 30% or 25% a week BEFORE your bill is sent. DO NOT pay off your credit before your bill comes.
8:15 - Get 2 credit cards to build your credit.
9:25 - Types of credit. Revolving credit builds your credit fastest.
11:45 - Number of inquiries. What's a soft pull? What's a hard pull?
14:24 - Some examples. 580 credit score. Foreclosures are WAY more common with a 660 credit score or lower.
17:54 - Getting a loan with no credit...it's expensive and painful. Credit scores allow you to get a loan the quickest, the easiest, and the most cost effectively.
20:13 - 640 credit score example. Better loan than 580 credit score, but still not great loans.
20:57 - 740 credit score example.
22:07 - 780 credit score example. Is an 820 better than a 780? In lending, no. But you feel better about yourself!
23:47 - To raise your score, contact your lender, and do what they tell you to do. "I fix credit for tacos."
24:29 - What'd we learn today?
24:55 - Like, comment, and subscribe, and your credit score will go up a million points.
25:18 - Bloopers.
*No scores 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.