How'd it go sir? How was your shadowing experience? Yeah, no it was. It was an amazing day overall. seen a lot of great places. It was great hanging out with you.

Hey everyone Me: Kevin Here today we are going to use St George Utah followed by a Vegas both to look at real estate and we're going to be doing a separate stop at the Boxable factory to see what they've got going on with their small. Home Building Division Let's see how far away we are from actually getting some boxable units delivered. Pretty excited! so we've got a lot to cover. Today it is 809 a.m Let's get on the plane and see how fast we can get all this done to make sure I am home to say goodnight to my little kids, maybe even scoot around with them.

Let's go! I'm working on my notes for boxable In The meantime, we're about 30 minutes away from St George Utah right now and I'll tell you one thing, there's nothing like the pilots expecting me playing. Top Gun for takeoff and then all of a sudden blasting Barbie Girl good job Man! that was intense I'm back there like man I need my tequila. What was funny is the crosswind they were calling for was much lower than what it really was. This was intense.

It's always like that around the mountains. It was just the cold wind or mechanical turbulence. whatever that means. Man, good job, Good job man! Welcome to St George Utah Back in the day, this area had actually received some Fallout from a nuclear facility accident in Nevada and people who were growing up and received a little bit of a dose in the 60s at higher incidences of problems.

Now supposedly that's not happening anymore today and a lot of these illnesses have fallen off as of the 80s. You haven't seen any kind of abnormal spikes, just sort of an interesting little historical fact. You've got a median income here of 27.925 slightly lower on the per capita income than generally what we're used to looking at, but poverty rate only sitting at about 11.3 percent. You are in uh, south West Utah and you're looking at about a 64 Mormon population in this area.

Let's see what the houses are like next. Woodshake roof here. That's crazy. This guy's got a higher insurance premium.

Let's see you got some metal roofs over here. A lot of a lot of differences. This guy's got a metal roof that's gorgeous. ranch style home.

What is this? This is, uh oh, blooming. Blooming Hills Park Okay, yeah, our goal so you know is uh, second half of the year and um, anything where we can add value and then rent it out long term so not short-term run long term. When I spoke with McCabe sing that you were mostly interested in track I'm open to obviously your insights and opinions. generally.

what I find is, tracks are easy to comp. uh we? uh. I've been doing real estate as a broker for about 13 years, but I've stopped doing uh sales. So I found tracks are easy to comp.

They're easy to rent. if we need to sell them, they're easy to sell. We like that liquidity. so we try to stay away from unique.

Uh, we want to be away from busy roads. uh, high tension power lines. Anything that's abnormal? Uh, we don't like abnormal editions. you know, like people walking through a bedroom to get to another? Just give us what the Builder made basically.

But if we can find something things like exactly like this that are I imagine quite rentable and I'd love to hear your opinion on it, but that still has the which these are just the painted Originals I think so the unpainted versions of this right? I Was trying tracked versus Um locations that are going to be ideal where you know we have high school ratings, where people want to live. So I actually brought you quite a bit of data. Thank you so much! Um, so this is actually the so you know we're doing reports census. It's usually this is the most recent report which is 2021.

so much has changed since 21 already. Okay, okay so this area. So basically there's a river that kind of runs right through St George The Virgin River Everything south of the river is looked as a more desirable area. Okay Bloomington Hills is built around a golf course.

It used to be a private golf course. now it's owned by the city. Okay, Golf Course Uh, so we're in South Wilmington Hills right now as we go across. then you get into North.

Bloomington Hills So you have properties. This is probably the lowest price point that you're going to find in the subdivision. Um, upwards of when you get up into North. Bloomington Hills There's a few shoot-offs.

We have homes over a million. Wow. What would you say? On average you're renting out something like what is this a three and two? I'm guessing yeah, this is a three two. That's all we're seeing today.

Okay, so I actually printed this? This is based off of Hud data. Perfect. Um, and it talks about the fair Market rent in Utah or in St George Um and then I kind of Define the difference between Fair Market and what medians? Um, so even as the fair Market rent is going to be what HUD wants us to be providing you know, homes for of course, lower price point. Um, and that that's where we're at right now now.

this home here I Would say you're probably 22 to 2300 so a little bit above because of the neighborhood. Maybe then. well, no. I'm just jumping to the median.

So Fair Market is always going to be lower than yeah, they're always lagging. Why would a renter want to be? Yeah, what? what drags? uh folks, uh uh to to either uh, come, stay or leave, uh what would you generally say? So this is just a few. Okay, so climate we've got Now today's 300 days. Oh, so you were very similar to Arizona then? oh yeah, that's interesting now.

Um, we typically tend to have mild Winters This is unusually cool right now. Um, but we do have days where it hits over a hundred. Wow. and I'm sure you've heard the difference between dry heat and humidity.

We have very little humidity we live in. South Florida Yeah, yeah. So when you're in the sun here, um, when the wind blows, it kind of gives you the effect of like if you open up your oven and lean in too quick and you get that like that's your 100. that's your 100 degree day, huh? You can go into the shade and it feels cooler.

When there's humidity, it doesn't matter where you go. Um, so that actually draws a lot of people here for the outdoor activity. So we're host to I now. Amy's husband's a pro athlete triathlete, so we host two.

Iron Man Um, and isn't one the qualifier for the Kona Um, yeah. well. The Worlds? Yes. Kona here.

Yeah, Oh yeah. Okay, so we hosted that last year. We also host the St George marathon with a myriad of other races, but St George marathon is a qualifier for Boston Marathon So that's why you get so many of the RVs and sort of the outdoorsy uh of Zion Bryce Canyon Capitol Reef and Grand Canyon I See um? we also have a huge retirement community here. Okay, because of the weather, we have a lot of what we call snowbirds.

so people come here in the winter. Okay, and then they go back up north in the summer. And where would you have? sort of like where would a typical let's say uh, like a 3-2 hormone, maybe a 4-2 homeowner? Uh, a couple with kids? Uh, where would they work generally out here? Um so there are a lot of like entrepreneur entrepreneurs. Sure self-employed So um I think we're like the Capital Tube like Mlms.

Oh my gosh, that's awesome. But bigger companies like Doterra stuff like that? Um, we have a huge base of construction here. Because of our growth, we are now I missed the last economic Summit Um, but I Want to say we're somewhere between 16 and 20 private land ownership so we have so much space to grow. Yeah, yeah, and it seems like your population has been growing, especially post covered.

Have you seen any reversal of that postcovid where some people are like oh I came out during Copa and now they're moving to cities to get another saying I would say in Vegas Northwest yeah I Actually I'm like Midwest Virginia like East Coast Oh that's interesting. So why do people, why would somebody sell and then if they were leaving the area? So most of most sellers that I have are just upgrading. Okay, leaving the area so upgrading with them? Sure, but there are a lot of people now that are I mean I felt like post covered. It was kind of like that tiny house movement where.

yeah and so now everybody wants a home office. They want a place to homeschool their kids. People have a lot of kids here in Utah I don't know if so. that's the Mormon part huh? he's Memorial he's our designated Mormon we say.

But as far as work I mean Tech Ridge and I believe this report has. Let's see. I think Tech Ridge Tech Ridge is is that a nickname? It's no, that's actual name. So Tech Ridge is where it used to be the old airport.

Is that relatively closer to Like a downtown? then? yeah. So we're actually not far from downtown. that's why. I Love jump on the freeway.

Be downtown in four minutes. Oh wow. um I could also go up, um, just through city streets and oh yeah, you could just take, uh, bring them. Is everything yeah? And then you're on a highway and then you're right there.

Um yep. So I have two four homes here in southern Utah So thanks I've got one that's right downtown. Okay, um, do you try to Airbnb that? Um, actually that's that's a long-term goal because it is in the historic district, so airbnbs are tricky here. You have to be in a specifically zoned area, probably closer to downtown downtown or we actually have Zoning for it.

Okay, okay, so um, and the Airbnbs here are. In fact, they put a moratorium on it for a while because so many of them. Yeah, yeah. I See that everywhere.

There's so many Airbnbs everywhere. so what's that? I Wish I knew Airbnbs were doing well. Yeah, so Tech Ridge though is it's an amazing addition um, to the community And that? So what is Techra? just a neighborhood? So let's see. I think there's no no Tech Ridge is up on it's up off the Boulevard and I want to do that? You have also these neighborhoods up here by the Home Depot because it is.

but it's so the university has buildings up there. they've got the Um so it's actually like a ridge between. It's like up on a plateau. So okay yeah yeah and you know I forgot to the southern part where you got off I don't know if it took you off River Road when you came or break around? Yeah, yeah.

um, there's an industrial area where we have huge distribution centers so we have a Walmart Distribution Center Okay, um, we have a Dollar tree distribution center. but I mean we're kind of like a hub because we're so close. We're an hour and a half from Vegas. Yeah, now with traffic, maybe two hours.

Where do they fly at it Or are they just driving them Trucking them out of here. That's awesome. Thank you! I'll take a quick look around and we'll get to the next one. Let's see what we got.

So the traditional, the older School wainscoting here. You got this a lot in the 90s. Uh, this is nice. So you got 1985 kind of vaulted ceiling.

In a weird way, you don't actually see that that much anymore today because uh, you're either getting two stories which obviously generally have an open area. But a lot of the newer construction you just do nine foot ceilings throughout and they're not doing the vaults. What do you think about it? It's a lot more intense to build it that way. Uh, so just go nine foot and don't do the vaults.

make it feel a little larger. Six panel doors. pretty classic. You still got the uh, the ivory little switches here.

Easy little upgrade. You know here's another easy little upgrade. You could nice fiberglass enclosure here. You could easily upgrade to uh White by uh by spraying it the old school.

Let's just paint. See this. This is why I Don't like buying other people's renovated stuff because they put flat paint on this towel rack. This is going to be black and dirty very very quickly.

not only because people get out of the shower and they grab it, but as you put things on and off of it, it looks like they use an eggshell on the wall, but then a gloss or semi-gloss on the ceiling in the hallways which is quite shiny. So some of the choices here. not exactly my favorite. It feels a little bit like a uh, you know I hate to say but it's sort of.

What we oftentimes say is like the blow and go where you kind of just do the quick little update on on the cabinet. see see. even this cabinets should not be a flat paint. they should be at least a semi-gloss The fact that this is flat? a big mistake.

So we got the full Mica top over here. But yeah, this is sort of your typical I think this was a three and two. This looks like your master over here. They put some new rugs down.

carpet down. Uh, you feel that looks like a smoke detector junction box, not a light fixture, but then it wouldn't be switchable. It's kind of interesting that they put that over there. I've seen smoke detectors there before, but maybe it wasn't like anyway.

Oh this is cute how they did this. so this is a this is a a big theme right now. as people are doing this. sort of a navy blue cabinet.

this is really nice. Ordinarily you would go with a gold style handle here. and I'm not talking about the old gold I'm talking about the new brass Golds that look pretty good but that's nice. Uh could go.

you know it's besides, it's actually fine. This is not bad. I'm not going to complain about that I like that. Uh, for my Toms over here you have this sort of older gold trim over here.

It's clean though. you know, clean. Uh, the obviously. if we were buying, we'd be looking for something a little bit more dirty and messed up right where we can go do that sort of paint work.

So some of this is already taking the wedginess away. two inch faux wood blinds. very very classic. for rental properties that's right here.

So these are, um, yeah, these are two inch faux Woods Uh, looks like you've got some delamination on the actual dual pane window so you can see the moisture that looks like it's inside the window in between the two panes of glass there. So starting to have a little bit of a dual pain failure there. Not a big deal, but those are little things that I would pay attention to because in the future I will have to replace that. Hey, by the way, in case you're wondering why I'm traveling for Real Estate It's to really become the best expert in all these various different markets for Househack.com that's my real estate startup.

We're currently raising money at a one-to-one valuation for accredited investors and if you invest before the months end and you get some extra bonus warrants which are kind of like call options to invest more in the future If you want to don't have to learn more about that at the solicitation Househack.com but come April or May here in 2023, we should be opening up this investment round to non-accredited investors through a reg A which will be very awesome and we hope you join us in. We'll be raising money at a one-to-one valuation. Which means for for every dollar we raise, that's the valuation of the company. So for example, if we raise 50 million dollars, the company is worth 50 million dollars, so you're really not suffering any kind of brand or company dilution.

This is really rare when you're looking at a startup. Uh, so we're super excited to be able to offer a company and Investments and shares into the company at that one-to-one valuation now once that fundraise closes, if our cash flow projections go the way we're looking, we might not have to raise money again for quite a while. Maybe not even until we IPO at some point in the future and knock on wood. We're really excited about the prospects for the company, so we'd love to have you aboard on the journey.

Just go to Househack.com to learn more. Yeah, the wood look tile right? I agree and especially with rentals. I Really don't love have carpet and rentals but at least not in the traffic area. Yeah! I Mean do you see a lot of people doing vinyl plank out here? and how do you see it with like, sort of the weather here or any impacts or preferences differences? I mean we're we have very low humidity.

I mean unless someone has a flood, you want to pull it up and dry it out and put it back down. But I my preference would be tile. The porcelain tile. Yeah, indestructible children throw things.

bounces right off. Turn over. You know. this is pretty small area for carpet so it would be most affordable to replace with carpet, but long term having all solid surface floors would be easier.

Yeah, yeah, absolutely yeah. So we've got two bedrooms here and then one probably done on the other side. Okay, that's awesome. No I Agree with you.

Oh yeah. I'll hand about you. where is the third bedroom? Did I miss it? It's up here. Ah, there it is.

Oh how interesting. Oh yeah, that's nice. We used to have a closet to call and this one does have a call. Sure, um to call it a bedroom for an appraisal.

but now as long as it has the egress with the window or a door. oh, that's interesting. A true three bedroom. Nice.

Awesome. Okay, let's head to the next one. Yeah, he's he's great. So this little patches like this is where you'd want to look and see.

Okay, maybe. was there a roof leak in the past? especially in the flat in the vaulted area. You might have some more. It's not a big deal, it might be, you know, just a matter of tuning up a certain area.

But you'd like to know. hey, what was the history there And easy little things to point out. Usually you can see those drywall defects pretty easily. They probably fix that themselves based on the way they did the drywall.

Uh, you know, somebody who does drywall for a living could do a better job. Is this a normal sized yard? Uh, okay, so this is a larger, larger and that's because of the cold sack that we're on. Yeah, presumably. okay.

I Noticed I came in here. you have I saw one head would Shake obviously the original the old stuff. Then you have a lot of tile roofs. You have, uh, some people are doing the metal roofs.

There's a concrete guy over there and then you've got the shingle, which is generally what we see in Cali Uh, this looks brand spanking new so so in their hands. Yeah, um, so a lot of times when I have clients that are purchasing a rental that does have grass I'll say just hire that out and include that in the rent. Okay, because to leave that up to the tenant if someone let this go I mean you're probably five to eight thousand dollars to have it resolved. Yeah, now, what about, uh, what were you going to say about the asphalt jingle? Or are you just making the observation that it had asphalty shingle? Um, no.

So they asphalt shingles here? You're probably 20 to 25 years. Okay, the tile is a lifetime as long as people don't walk on it. Christmas Decorations: Some of the tile roofs will. You'll see they do have their furnace or like a heat pump on top.

Oh okay, and when they do that, they usually do a patch of asphalt so that you can access it without having to walk. So that's good to know. Uh, and then this, uh, is this, uh, like an easement or whatever I mean it's specific to the property, doesn't it? Yeah, Oh okay, no. I notice your electrical panel is actually not in the house or outside the house.

Is that normal? Because I See the meter here. Your home has a side I Just have to turn it all off on you. Yeah, yeah, yeah. Your tenants want a service call a sort of aluminum faucet or soffit you have over here.

It's like it's certainly upgraded. They probably did this with the roof. It keeps your uh Lumber unexposed to the elements. You get less wood Rod that way.

So yeah, that's interesting that this particular subdivision is sort of all individual. Built Homes And that explains why we have so many different roofs out here and different styles. Yeah, so so what years? Oh thank you. Mikey Mikey Mikey Bringing that Invest in hand warmers.

Uh, we should put an Amazon Link in the description. Uh, but yeah I mean that's why you're seeing. uh. brick lined in front here, stucco over here, siding over here.

uh Arizona style stucco ranch house with a giant fireplace over here. You know this is more of like your 2000 style Stockholm it's it's very interesting. I mean I this is I I I it I Generally like that consistent feel, but it's good to know. Uh and there are plenty of tracks in the area out here.

So uh I like St George So far. so when you first meet with me, yeah, yeah, what are your what are your intentions to start? Like what are some of the first key questions you know? Really, it doesn't matter so terribly. what what is important is building Rapport and relationships Wherever You Go Real estate is a people business so you've got to be uh, you want people to want to work with you, right? So uh I get really excited about things. So I want to make sure that I give the other people time to talk uh and uh and they give you.

they tell you great information so if you could take that in as well, you're not going to remember everything on your first outing. you go out with an agent again. In the future things will start sounding familiar. Oh yeah I remember that I remember that I Remember that so over time you'll you'll become more expert in an area more often you visit.

For example, next time I visit St George I Don't need to ask the same questions but some things I'll start seeing and oh I remember I remember I Remember that's really important. That's how you're going to become an expert in the area. but you want to build that Rapport uh with with your agent very very important. Yeah, this is.

this is very nice. Uh, it. you know I'm actually surprised. even without an HOA It's very well kept up and you have a very consistent style of home out here.

Almost all what look like almost single story, three twos, maybe four twos. So very consistent builds. It's really just people have sort of cladded their homes differently. they put solar panels up.

Good observation, that's a Florida style home right there. Uh yeah. but if your electricity is cheap, it doesn't make sense to do solar. and uh, build beautiful homes out here.

Some of these brand new ones? Yeah, I was curious to hear your your thoughts because these aren't tracked at all. They're all. no, it's it's so. it's okay though because they're all so consistent.

Uh, three, two four two? Uh, you know, 1600 square feet over there for a three two, or fourteen hundred square feet there for three two? I can adjust that? Uh, that's that's easy. Have you noticed the pickup in the last 30 days or so? Yeah, yeah, because rates picked up again in the last couple weeks, but it seems like uh, a lot of people were able to lock in a little lower. Semi-gloss painted wood on the outside. That's how you're supposed to do it.

It's a good sign already. What the the screen here? You got the damaged garage door a little bit. It's perfect. I Like it already.

Single pane window. That's an expensive window right here to replace. So this is work. See! We love that this was the 1992 property.

You've also got some of the ceiling staining in multiple areas so it might be closer to the a reseeding on the roof. Uh so I Love it. I Love like the the Dirty carpet. It's actually this has some good spaciousness to it.

Uh, you've got the 90s style kitchen cabinetry over here now. Sometimes these are laminated which makes them a lot harder to paint, but these are actually wood which is nice unless they're really damaged. which these see this this had a little, you know, needs a little teal shoe to clean it up and sand it down a little bit. This is exactly kind of what we would be buying.

By the way, this is this is great. I mean these older kind of cabinets, countertops, appliances. the colors are funky, the carbs. this is perfect.

Uh see. even like the the transitions of the floor kind of I like I Love it. This is exact exactly. This is exactly.

the kind of thing that we would be looking to buy. Uh, this is, um, right on, you know. I Got the brass hardware over here see because none of this is that hard. Some of the cracking over here from the property settling.

that's a normal, uh, settlement crack. That's nothing to be alarmed by. Simply, you know. I mean look at this.

You got you got laminate flooring in the bathroom. This stuff bubbles up and warps up because it's not supposed to be where water is. Whoever installed it, Look at that. They cut around the toilet.

You're supposed to lift the toilet up and then put the floor. Uh, that's pretty funny. So um yeah. I mean there's some some do-it-yourself work here, but not a lot of love though.

Went into this place so uh yeah. older bedrooms over here. Oh the walk-in closet? That's nice. Oh, this is the master.

Oh yeah, baby carpet in the master bathroom. See, this is what I'm talking about. This is perfect. This is great.

There's the laminate again in there. It's just nasty crunchiness around. Uh, where your fixtures and finishes are? This is nasty. Somebody painted this.

This is an old formica top, which is basically just like an MDF fiberboard with a little thin sheet of laminate over it. But then somebody decided to paint it because it's been chipped and damaged before. It's honestly probably a rental before, but someone not terribly qualified. uh in my opinion based on the way, but but this is great I Love this! So uh how much do you think this place would be worth? Fixed up: 14 15 let's say let's say 1500.

it's a newer window also a lot of what is that 2 000 in this one? Wow High fours low five. So like if if let's say for example if let's say you went and you put 25 000 in you paid list price 399 000 so you're in for 400k put 25 in. if let's say it was worth 5.25 that's a hundred thousand dollar wedge that 80 to 100 000 like after we fix up. that's that's our sweet spot.

Yeah, because the flippers want more so so we're able to go a little under the flippers and it's easier to actually close deals. Easy I think to probably solve on privacy over here. maybe a few a few uh, trees or something you can plant over here once you clean up the back but then call it it. this is nice I Really like this property.

This was a good one. Tell us about yourself. Your name number I'm Samantha Orvin um I've been in real estate in Southern Utah for 17 years. My phone number is 435-229-6748 and you can find me at Orphanrealestate.com Pleasure to meet you! Yeah, absolutely Jesse right Yeah Oh awesome this is Alex Oh hey Alex Nice to meet you.

Yeah pleasure. This is great. So this is obviously a track. Is there an HOA here? Yeah.

Okay, awesome. I Actually like E-choice it's better for rentals as long as they allow rentals. you know they do. Okay, so you got a 55 ratio ages property.

sixteen hundred nine square feet. Nice. Um, and we're gonna see three. I Took one off because the agent marked it wrong.

He's a single family and it's not okay. Okay, don't worry. So what do you see? Uh, in terms of uh, like longevity of Tenon out here usually like do they say yeah, they do? Okay, it's not too far from like downtown or whatever. It's like eight minutes.

20 minutes. Okay, not even eight minutes to the Olive Garden I saw an Olive Garden to downtown St George you're probably 15 minutes I See so I actually live in Hurricane and it takes me as long to get to my office in downtown St George as it would somebody out in say Little Valley or you were just in Bloomington right? Yes, Exactly. So in Bloomington it's 15 minutes. No matter what you do, it only takes me 23 from Hurricane Oh wow.

So what's the difference between Hurricane and here it's Hurricane's a lot smaller so I'll probably about 30 000 people. Oh wow. Okay, okay. quieter got it.

Maybe more land but it is more windy. Hurricane because it was pretty windy in Bloomington Yeah well, Hurricane sits down in the valley and so it's it's right in. Oh, is that where its name came from? What? What's beautiful about this is. First of all, these homes are way newer.

I Mean this is a 2000 style architecture. Concrete roofs. The beautiful thing about this is people who know the neighborhood. They know all the problems with the neighborhood, all the problems with the builders.

So it's so easy. it's almost like you don't even have to inspect. You can almost buy it blindly. Obviously, you're not going to.

but um, but but you know what? the defects are in the neighborhood. So concrete tile roofs I mean these are going to be better insulated. You've got newer dual pane windows. Uh, you've got the weep screeds.

Okay, so very few people know about these, but you know a lot of older homes. They don't have the weep screeds which basically lets moisture come out of uh of the wall so you don't get the stucco peeling off which you get sometimes an older homes good. All right, let's do it. Oh, this is gorgeous.

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and Rental Renovations Group which is also extremely phenomenal for when you're ready to start scaling your rental portfolio. So check that out, find a link down below and make sure to take advantage of the flash sale. What would something like this run for you too? Awesome! Oh, this is fantastic. Yeah, what are your typical buyers do or your owners or tenants do out here for a living? They're either a lot of construction.

We do have a Walmart Distribution Center a Family Dollar Distribution Center So there's a lot of people working there work there. A lot of Tourism So Southern Utah there's we have. Millions of people come through here because we're literally from right here. 45 minutes from Zion National Park and that's why you see all the Arts two and a half hours from Grand Canyon Lake Powell Yeah, that's great.

So there's we have a lot of traffic. yeah that? no that's really good to know. and um the so some of the things so you know what we're looking for because we we love the tracks like this. We think it's great.

Are you guys more interested in homes that you can build value in by remodeling next month? Yeah yeah. So something like we don't mind. uh, newer is obviously better, right? We don't mind the HOA those are great. Uh, something like this.

we probably have to have that. kind of like the stinky carpet, the paint's messed up like you had a bad time. That kind of experience right? So we don't mind obviously looking at stuff like this because then we get to learn the neighborhood and meet with you. But um, when it comes buy time, second half of the year and then on from there something where if if a flipper is here we're like here and then the home buyers here with the valuation right? and so we want to capitalize on that difference where you put in 25, 30, 000 of paying carpet and that stuff we can get some value.

Cool, that's what I thought. So this this isn't really that area, but some of the houses maybe and that's the thing because now we know the neighborhood. and then when that fixer comes up and you hear about it, we don't even have to look at it. We can just buy it and I'll show you some different areas.

So this area yeah and I also pulled another list for you. it's actually crimson Crimson boundaries. So the one thing I noticed here though, that's that you might want to consider this little pocket. Cell service is horrible.

Oh okay, so which is going to be a problem with tenants? Uh, interesting. Good point. But right here anywhere in this area right here because this will all be Crimson boundaries right here, that pocket there and then over here. So when you initially called me, he asked about Royal.

Royal Oaks Okay, which is right here. Okay, but this Corridor right here as well is a really nice area. Now they get a little bit pricey, but you're going to attract a better tenant. Interesting.

Okay, so you're going to be more. Is that like five? Six hundreds? Yeah, probably over on this side. Six or seven hundred here. it's going to be a little bit lower than that.

Royal Oaks The reason we didn't go over there because there's only one listing and I saw a history socket and I said wow may as well and then I'm going to give you some other areas to to the course. It's fantastic. Yeah, Okay, great. So uh I mean this is fantastic.

You've got the nine foot ceilings over here. This is sort of your newer uh style 2011 obviously. Yeah, I mean this. This is great.

So what you have on this? the way this is laid out is you have the master on one side, two bedrooms on the other side. These are simple 1600 square feet. The tenant comes in destroys it. It doesn't take that much to re-floor or repaint and repaint 1600 square feet.

So this is the perfect kind of typical size. We don't want to get too big on square footage because then then our budget, our fix-up budget is too high. This is about the typical lot size you usually as you get further down in the Coral Canyon there are some larger ones. Sure, more maintenance.

We got to get a sprayer like this man. Obviously in a newer neighborhood. Uh, it's it is. You're a little harder pressed to find a picture, but they come up and when fixers come up in newer neighborhoods, you just gotta buy because you get the benefit of newer construction, less headaches, lower risks, lower inspection risks, and everything.

By the way, thank you for shadowing us today. You want to Shadow me link down below. Yeah, yeah. I mean we don't need to find pictures right now, you know? Yeah, No, this is this.

that's actually a perfect size. Really? I mean three to 1600 square feet like that is so easy to fix those things up. Uh, decent floor plan? You know? Um, but yeah this is uh oh. I'm selling that one too.

Larkin is his oh nice? No wait what look is this is this snow? Yeah you are. It's powder. You can go skiing. no it's yellow.

Oh pants are dirty. Okay what did you do to my pants yesterday? Oh this looks good already. I Like the broken doorbell? Darn it you do. New carpet.

Uh the see. These are great floor plans. They got the open house set up ready to go. Uh that.

I like this neighborhood because the floor plan's so far fantastic. see this is good. I Can't believe they did a kitchen like this in 2011. that is really surprising that they went back to like a 90s Kitchen in 2011.

these were 11 builds right? See this is great. See like you get kitchens and baths like this and then you get some dirty carpet and dirty paint. I don't need much more to get a wedge so that's great. Yeah I like that this these cabinets which soak up paint so well I Like it.

This reminds me of the House of the house that you bought that flooded. Yeah yeah exactly. It's like I didn't have to do that much work. Yeah no.

very similar. that was built in 2003. yeah this is all four yeah but they just did paint and carpet in here. You could smell so they've already removed some of the wedginess.

I Mean that's smart for them. but uh yeah. I mean if this had like mold somewhere and some nasty carpet or whatever easy bite, you're gonna scare them. Oh I Love mold.

Kevin More mold, more asbestos, more lead, the better. It's great. No this it's These are nice. Yeah, Oh, three car garages out here too on the single stories.

Nice. That's attractive for a tenant and especially since you're gonna get more. Uh, you've got water softeners out here too, especially since you're gonna get more of that sort of outdoor living. That's cool.

This is great. Let's go to the next one. That's what I was saying earlier to the guys like look, uh, taller ceilings. You don't have to do those vaulted ceilings anymore like they did in the 70s or 80s and they're cheaper to build that way.

And they're cheaper to maintain fixing stuff or roof. whatever. So uh, but yeah, this is. It's people like that who makes it feel spacious.

Yeah, it's great. and this even has the plantation shutters. The larger doors makes it feel like it's more a more expensive home. Yeah, it's also true luxury.

1600 square feet. That's true. They were like oh wow yeah it's my my 1600 square foot mansion. Yes like Psychology Real estate I Don't ever meet anybody without gifts.

No way. Stop! Oh my gosh, there's so many of you I Brought different gifts like that Million dollar or is that a billion dollars? Oh my. Lord You can't put a price on Amazing clients. but here's a down payment.

A billion dollars? That is cool. The smarter this is. this is very cool. By the way.

these cabinets are beautiful I can paint them. This is really nice. Thank you for that. Why don't you shout yourself out to everyone? So I'm Jesse Paul I'm with the Larkin group here in Uh St George Utah Keller Williams Realty Actually powered by place? you're probably familiar with it? Yeah, absolutely yeah.

Oh my Gosh. And uh, so we're here. We worked the Washington County Utah Iron County Utah which is Cedar City About 50 miles north so we cover quite a large area. you can find us.

Actually, if you go to go St George.com G-o-s-tgeorge.com you'll be able to find our team. We're a team of about 10. Nice. What's your number? You want to throw that out here? My number is 435-619-9415 Awesome! Thank you thank you.

Yeah, this is yeah. I mean this neighborhood is fantastic I Really like this. So and so I Don't know yesterday we were talking about the freeway. did you guys notice over there? Yeah, yeah, it's right there.

Why no I don't hear it. Really? You'd sits so high that all the noise because on the map you look. yeah, and inside you don't hear it. Now you will hear it outside.

Sure sure. phenomenally. it seems like. but normally even though it's so close, you won't hear much.

I Love the 2003 where they did the cutout for the TVs because now the cutouts are getting too small for the crazy. TVs We do. Uh, okay, so see, look at that. They've already upgraded the hinges.

Uh, they got rid of the brass and they went for the brushed nickel. Smart, they did. They did what I want to do? That's okay. These are nice.

They left the cabinets. You got the Builder grade linoleum over here. Linoleum is actually fantastic for cheaper rentals. I'm actually a big fan of doing linoleum like this.

You know they this is a more expensive carpet too. Really nice. Berber Carpet: Pretty clean. fiberglass enclosure over here.

This: yeah, these are nice. I Mean you just need a little caulking around the faucets beneath the cabinets. Uh, there's not much to do with some of these. Obviously, none of these would give you like a substantial like wedge.

but you, you know, the neighborhood. Uh, now you're not scared of the highway because you've already kind of felt what the Highway's like. This is fantastic. So I like this: Yeah, you've got the shower over here.

You don't need two bathtubs. That's fine. Garage: I Don't really need to check that out. This looks like a laminate.

Yeah, this is a higher end laminate. It's nice, might actually be engineered. It's not bad. This is nice.

This is a great neighborhood. This one's a little smaller. How? what's the size on this one? I Left the paper 1442. Okay Awesome! This is great.

Thank you so much and thank you for for your really your hospitality with your gifts. This is phenomenal. So uh yeah, we're looking at second half of this year to start uh ramp slowly and we'll be buying probably a lot. and uh, beginning of 2024 will probably be pretty active I think it'll get to where.

Um, we'll probably pick somewhere around 10 to 15 markets so far. I Really love this. I've told other agents as well and markets have been. This is probably not one of my markets but this this.

I actually this so far is good. St George is a really good really good. It's always growing. People want to be here.

People come here and they just feel them by. They feel that oh yeah but kindness. oh that's nice. Yeah and they stay.

Let's buy a second home or so people really want to be here. So Alex is uh he's a lender who loves investors but he also is looking at buying a property manager company. Oh wow. So I wanted to bring in.

He could be a really key piece for you here. We that's another thing that we'll need is connections with property managers. Uh, handyfo contract. We're probably not contract more like you know, electricians, plumbers, You know, all the subs right? So that's awesome.

So wait, so you're a lender? Why don't you shout yourself out too? Go ahead. Yeah, yeah we. um so my name is Alex Hernandez over here in St George we land actually all of Utah and Nevada all of Arizona. We do a lot of investment loans and one thing that you may like, especially with you I follow you and someone watch your videos.

Um, with first-time investors we have a whole program now we can. You can house hack you can go get an FHA loan and get you a house with little snow down once you start leveling up and it doesn't make sense for an underwriter anymore because you're like I can't go down and owner occupy a smaller residence. Yeah no, we have a 10 down no investment loan for one to four units. Wow, That's significant because if you're looking to buy a duplex Triplex or fourplex, you need 25.

That's not Fanny Freddy Now is it though we actually partner up with the Local Credit Union Wow, See, that's the connection. Yeah, that's the connection because we get the clients get the benefits of working with us. Well, we're we're the experts we're You know, when you work with the bank and credit union, you don't really get the white glove experience. Sure, after hours specifically or weekends, you get to work with us.

Well then you get the benefits of a credit union servicing your loans as well. So with you guys answering and helping and brokering it, that's awesome. Man, that's really good. That's incredible.

I Mean 10 down on investment loans? That's like unheard of. But the credit unions? they give you the special stuff because Credit Unions Right now, they're facing so much competition from online banks. even like the sofas of the world, these big ones, right? But the credit unions are now being forced to be even more competitive because of that, so that's good for the consumer. How do you get in? Yeah, there you go.

Get with us, man, will that be helped? Nice. That's awesome. That's really good. Thank you thank you.

That's awesome! So we found to be the most efficient possible. We do not stop for food so instead a Lauren made sure we had plenty of food supply for the entire day of traveling. Now we can get to Utah We don't have to stop for coffee because she gives us the thermostat is we don't have to stop for food because she gives us food. Now we can go to fly to Vegas and we can go work and that way we get work, work, work work done.

and if we finish everything early, maybe we can go get some dinner and uh, you know, maybe a drink on the flight back. Thank you. Lauren Yeah, oh look at this. this looks fantastic.

What is this? These are like lunch bags. Oh this is great. Y'all better start eating up. Nobody's allowed to eat on the plane really close without touching the plane work for Kevin You're gonna need a handful of these to get you through a couple of days.

All right, non-stop grind. We're seeing everywhere in this country and buying up all the good deals. It's so crazy. like if I wanted to fly here commercial um maybe I'd be landing around this time but I would have not had any of the St George right? So I we got a whole nother City and probably again and you're getting back the same night.

I mean you're getting three four, five times the productivity. The more hours we we fly it, the cheaper it gets. This is what I do while I'm commuting I'm watching CNBC as they're reporting earnings while at the same time getting the earnings feed over here I Can't believe this. I mean Cisco beat Roku beat Zillow even beat Roku even be everything just Bbbb waiting for Shopify here.

but we're going through the earnings uh and we'll be prepared to talk about them. but uh wow uh we're gonna go do a factory tour right now, but this is incredible man. I mean the the I Would not be surprised if if our prediction ends up becoming true where we see the stock market V shape up? well maybe not V shape but Nike Swoosh up while at the same time the housing market kind of Nike Swoosh upside Downs down. and uh, and and yields actually go up because if people dump bonds to buy stocks because stocks are rallying, yields go up on treasuries, which makes real estate go down and stocks go up.

But that's kind of what we've been planning for is stock rally at some point before the real estate recovery. So that's how we're positioned and so far it seems to be working that way. But I mean we don't want to get complacent here. We'll keep paying attention.

but it's crazy boxable. We are here with the co-founder How did you guys get Elon to live in a box? What's up man? hey hey, pleasure to meet you. Yeah, Absolutely. Jack right.

Oh awesome. Super cool. So Vegas Summerlin I mean so far it's been great. We we just went to boxable but tell me about Summerlin So I did McKay already catch you up? Kind of what we what we're looking for.

Ultimately, Yes, um, they're following you forever so no way. Oh okay. okay. your investment course I know everything.

Wow. Okay, perfect. Okay, great. So you pretty much know exactly what we're looking for.

That's right. Where are we right now? And uh, what do these things rent for? Like are they good at stable rentals? Yes. So right now you are in Summerlin center it's called well. Summerlin is divided about five, uh, neighborhoods.

you have Sun City Summerland someone in West someone in Center somewhere in South So a bunch of little neighborhoods. This is like literally in the middle of Summerlin Okay, we have Downtown Summerlin right next to us with all kinds of shopping, restaurants, grocery stores. We have the Red Rock Casino right next to us which is yeah, more of a high end casino and all of that. So it's the place where you want to be where you have a lot of jobs, a lot of employees elements so you can rent out and eventually make good cash flow.

It's nice and so the um how many people are actually occupy the homes because I know a lot of people like they live in Vegas in half the year or whatever is that. Do you see that a lot Here is that More Henderson Summerlin has about 13 vacancy okay and Henderson's More Henderson is about the same, but it's a little bit lower price range compared to someone and someone is I'll say overall is the highest you know per square foot. God Is this sort of like um somebody once said in in Vegas you see a lot of like you've got a hot neighborhood and then a new one builds and then everybody moves over there. Did the old neighborhoods preserve themselves like can you rent out long term or are you going to want to move and sell them at some point Great question.

Yeah, Well Summerlin actually is. Uh is great because it's been here for ever since the 90s. Okay, they started building and Las Vegas you know we're only 50 years old or 60 years old. so for us, it's a long time.

Yeah, yeah, yeah, that's a good point. But uh Summerlin is the most established neighborhood. It's technically not a city, it's a master plan. Community It's the biggest master plan community and probably the United States I think wow from the data Nice.

We have about 120 35 000. you know people living here? Yeah, that's pretty good. So it's a pretty nice establishment that's awesome. Okay, I'm excited.

So this obviously I'm well I'm gonna say obviously I think I'm pretty sure I'm right, this isn't an HOA What's that? What are the dudes out here? 55 a month? Yeah, that's nothing that's awesome. Okay, that keeps everything nice and clean. I like that. I'm actually a big fan of that.

So uh, we're cul-de-sac here. So what do we got here? We got a small single story about three bedrooms, two bathrooms. Perfect. Uh, this is actually an Open Door listing.

Oh no way. Oh that's what I want to show it to you guys favorite friends. They actually bought this house back in June last year which is at the peak of the market. Oh oh your Peak was uh June about here ish May June something like that right? So they listed this house the owners at 480.

Okay and Open Door bought it for 500 000 which was unreasonable. Oh my gosh. Okay I Remember back then people were telling me hey, can I list my house well how much can you get for me? Well, maybe this house I would have listed at 450 460? Yeah, 470 right and Open Door will give them with five percent fees Five hundred thousand Oh my. God that doesn't make any sense I'm sorry.

Go ahead. so you're losing deals to Open Door because they're just overpaying last year. Yes, now they're not paying us much Way way below. Yeah, Yeah.

Okay so so now it makes sense to list Again Properties because Open Door is not paying enough because they got burned and some clients who are selling their houses buying brand new construction homes and they would be actually making money back or getting a better house just dumping into Open Door That's what it was. That's insane. Yeah, that's when you know you're in a bubble. You know they bought this one for 500 000 last year.

Yeah, they pretty much chased the market down. Now to 425 000. 425 and how many days has been on Market since their last price drop since June last year. Oh okay, and the last price dropped What last 30 days or something? They actually relisted this one.

They went from 445 to 425 at the end of the year 2022.. Oh wow, so they've already been sitting for 45 days at 425. already 75k off of what they bought it for. But that wasn't true market value that was inflated.

You thought you'd listed for 450. maybe sell it for 460 or something in a hot market, right? Exactly. But right now, this house is probably worth based on a comps around 400 to 410. Yeah, yeah.

okay. and they're they're 425. so maybe if they get an offer, they might sell it for retail Market Sure, Sure, yeah. but they're still taking the big L on it.

Yeah, and that still has to come through earnings. It's crazy. Wow. Okay, so I mean Open Doors Model isn't really like buying and doing much.

They just sort of buy and want to resell it because they just want to make the commission. huh? Exactly. Well, they are flippers. Yeah, but that's different from your yeah yeah business right? Yeah, So but what they're trying to do, they literally just put a little bit lipstick.

You see this house. they put agreeable gray paint. Oh, they painted this. yeah, painted the hot, painted the cabinets, put in your appliances and listed on the market.

Wow, Yeah, that's crazy. Uh yeah, that's uh, it's pretty remarkable because you're uh, you know now you're stuck into the on this asset that you've substantially overpaid for I Mean, it looks like they threw in some new appliances, but that's why the buy is so important because otherwise you get screwed. Uh, sucks for open door. but then again, you know I Think it was obvious.

Like you said, they were overpaying for them so they should have known what they were getting into. So is this normal like this lot size in Vegas or is that just because it's the townhouse? Community We're in. Well, this is the average lot size. Okay, we have about 18 feet right here.

another four on top right there. so that's actually pretty good. we've seen Lots even smaller. Oh wow, people don't like to have.

Well, the city just doesn't build as much. You know any more of these big Big Lots anymore. So it's really difficult in the new communities, especially Summerland to have something like this. We like low maintenance.

yeah, which is good for you know landlords as well because I imagine in the summer you're going to lose most of the grass that you would have unless you want to pool. Then in that case, you need a bigger lawn. right? right? And it seems like a lot of people do have pools if you have a lot of space. Exactly Okay, okay, all right huh.

that's awesome. It's interesting this. uh, they've got a lot. They're way over watering over here.

You could see, sort of like, almost like the mildew coming through. Come on. Open Door Get with the program. Look at that.

That's sad. Why would you put a seam here? Why just cut it longer? Oh well, that's interesting. What would this Rend for I would say this single story in this location could go for about 24 2500 a month? 2400? Are you serious? Yes! Wow. Summerlin Yeah Well I mean like it's probably Market 400 but uh, 2400 just for Giggles really quick uh times? Uh, divided by yeah, yeah, it gets you over that.

Yeah, you could probably break even if you buy for a retail. Market Yeah oh no yeah yeah. I mean even with rates where they are right now, that's crazy. Uh and so in this neighborhood if you can pick up, you know Fixer-Upper for what are your fix yourself I would say in here in this neighborhood you could probably get something around 350.

Let's say this house. okay it would make sense, probably for you to get it for 350. Okay and then it has a retail value of let's say 410. Oh okay.

but then you have some cash flow coming in. Yeah, yeah, exactly right. that's a long term. Yeah.

and then we gotta put some mold in and maybe get it at 300. we'll go spray them all. We don't have mold here in Vegas Oh, is that is it too dry? Yep, yeah, it's more like Texas Okay, so this is uh, okay. uh and uh.

that's another Plus for Las Vegas We don't have any mold. We don't have any pests. No termites. No no issues at all with that because we have concrete slabs.

so the term I can't get in from subterranean termites. Okay, yeah, that's interesting. And no earthquakes. No, no hurricanes anything.

Yeah, you can even get the wildfires like California Does you know nothing? Wow. Insurance is very low. Yeah, growing city. That's an interesting thought.

And then what? Your property tax base is actually lower than California out here. and you're in no state income tax, right? It's about one percent when you buy a new construction home, but resale homes because of their cap of three percent per year. It's not reassessed on sale. they do sometimes.

But most of the resale homes like for this house, you're probably looking at around 2 700 to 3 000 a year. Wow, yeah, I mean you're you're almost half of California That's incredible. And no state income tax? That's awesome. Okay sweet yeah.

we're gonna go see uh another home. It's a little bit bigger. 1700 square feet surface story. Okay, but it's in summer and West so that will give you about a five minute drive.

So this is Central Let's see which phone has service is uh I've got one bar over here and I got two bars on this one so I'll try this one. Oh you got a map. Oh perfect. So we are right now.

This is actually a crime map. Wanted to open it. Oh how convenient. Thank you for doing that.

So you see this is a strip. We have a lot of minor crimes. This is where you were here at. Boxable.

Okay, yeah, this is Nellis Air Force Base You have a lot of you know this is the area where people try to stay away from me. Yeah yeah, the darker, okay, the more crime. sure. But then this is someone so anywhere that's pretty low.

Very low. And then you go down here. where Summerlin Central would be here is sure it's I think this one right here. Okay, yeah, yeah, yeah.

ah okay. and oh, let me go back. Sure. So it's this right here and then you have.

We're gonna go on the other side right here. Ah I See Okay, Okay, got it. And you said there are like five main portions of Summerlin Yes. So you have Sun City Summer and this is a 55 and older? Yeah? I don't want that right? Then you have uh, somewhere North Well, some something someone is part of Summer North which is all this.

Then you have uh Summerlin Center which is a little small pocket right here. What's the most expensive? uh I would say someone in West West Okay, it's the newest. Is that where we go now? More luxury. Yes, we're heading that way.

We're just over the 215. Oh and then that really expensive million dollar homes are up. probably on The Ridges over here. Whatever.

you've got it. Okay, okay, yes. okay. and then down here you have someone in itself.

You have The Ridges right here. okay and missing. Mesa Ridge is over there. Toll Brothers Yeah yeah, yeah, yeah yeah yeah yeah.

that's over here on summer and South so that's someone South interesting that whole rage. Okay, right. so some of the South starts from here, which is right across the street. Uh Sahara going all the way South Here all the way down.

Okay, all right. awesome. Let's go to the next one. That's cool.

How much is the next one? Uh, the next one is 500 500 Good. a little bit bigger. I Think often what we find is in the 500k range we can get you know. Let's say it's worth five if we can pick something up for example for you know, or it's worth 525 or whatever.

If we could pick something up for like four, 425 put you know, 25 30 into it, right? and then it's worth like 5.25. I Find there's a larger spread in that 500 range five six hundred that range the smaller town homes. Usually you're going to be tighter Like you would mentioned, 350 gets you to 410 or something like that. The problem is, yeah, you're cash flow because sure the problem is when you get a into the best neighborhood, you're not going to get cash flows from the top right? So you have to go with the smallest house.

Maybe start getting some good cash. Yeah, and so what we'll likely do is a mix and it's gonna. We're gonna be guided by the uh, the deal that we get, right? So we can pay more than the reasonable flipper. It's not like the open door flippers, right? We can pay a little bit more than the flippers.

Uh, because we're going to rent them out long term and um, yeah, we'll We'll be able to blend our cash flow with smaller and larger. Are you open to? let's say a B type neighborhood or a B plus I Mean yeah. Potentially yeah. So we would just blend that with with more expensive properties, right? So that's going to come down to then we'll have to do like a rental analysis and see you know, can we attract the kind of tenant that we're looking for, right? So you know, if the neighborhood's like hey, you're never going to get a person with over a 620 credit score in this neighborhood probably not going to work for us.

And I don't know how this ties into your strategy, but uh, over here we have about 85 percent of people have white-collar jobs in Disney World Okay, yeah, that's really high. That's interesting. Is that always Summerlin or this neighborhood in particular, this neighborhood as well as anywhere in summer, that's the average in summer okay versus Blue Collar Jobs are about 15 in here. okay, but then more of those.

maybe downtown surrounding downtown and that more on the outskirts? I Mean if we go to the Southwest or Northwest side, we'll have maybe a 50 50 split. Oh wow. Okay, which so maybe I would consider that a baby a B type neighborhood. Okay versus going on to the east side, then you'll have a lot higher Blue Collar Jobs you know, post office.

Oh Interesting. Okay, great. let's go to the next one. Thank you for that.

Where are we now? Summerlin West Summerlin West is still mostly White Collar right? So the 215 is a Highway that's somewhat close to here. Correct, that's where we passed over. I See Okay, Okay, okay and we came from Central You said? uh, we we can go to Central Yes, which is still five minutes away. Yeah, we're nine minutes away.

Oh, that's nice. Nine minutes from there downtown. That's cool. I Like that.

bars, bars, restaurants with bars. many more bars, public school plus bar. see Look, it literally says Public School restaurant plus bar. They know how to be efficient in.

Vegas Hey, you get your education, you get your food, and you get your booze. So what's this thing? Listen, for this one is listed at 500 000. They just dropped it from 525. What's it worth? Maybe 480.

So 480 And then what do these things went for? Uh, these one. This is going to be more than what we what we saw right now. probably around 27. That's awesome and so a little bit of deeper yards here.

You don't have a lot of wood fences out here, huh? we don't it? Just it's not good for the desert. You know, in the desert they don't perform well. You know they don't do well. We saw that at St George Utah as well.

It was very, uh, anti-wood fence? Yeah, and they've already upgraded a lot of the hardware and light fixtures here. Okay, so this is a nice single store. You see any preference in the single versus two or not really. Uh, you have a bigger you know I mean more people that are willing to rent a single story versus a two-story Sure because you have Elder People you know don't want to go up and down the stairs so you have a bigger pool of renters.

So three two? uh yeah. two bathrooms and uh, you said somewhere on 2700 and rent for something like this? Is this in an HOA as well in this neighborhood? Yes, it still could be around that. 26 27 Yes, not much more because it's still at three two, right? Do you get a lot of uh, five beds out here or is generally I mean what? What do you see most of like, what? do people generally prefer to rent? That's the rents are high. This is incredible.

You g