The why behind location, location, location! Part 3

Sometimes when you’re looking at buying something you have to look into the future. What looks like a scruffy slough on the edge of town could turn into something as beautiful as Anders on the lake. Or an acreage close to red deer next to a busy highway can appear to be just a noisy location.
Both of these scenarios are places that we purchased,the one became a lovely lake with walking paths in a city. This town grew so much that it is now city not just a town.when I bought it the one Lake was just a pond of sorts. Now there are beautiful walking paths, picnic areas and the water levels have risen so that it is a lovely lake now. The one at the edge of red deer client said oh it’s too noisy. But it becomes development land with much higher value as you can sub divided into smaller lots. So try to think 10 or 20 or even 30 years into the future when you’re looking at buying something. That gnarly piece of rock may actually be a diamond.

The why behind location, location, location! Part 2

LOCATION! LOCATION! LOCATION! (Part 2)
When people are purchasing a property they are always looking for the “IT”! The “IT” is something that sets the property apart from all others. When you are looking at purchasing a home, find that thing that makes your heart go pitter-patter.
Like a condo that we have for sale at the top of Michener Hill. When you walk into the living room and look out the window, the magnificent view of the Red Deer city downtown is jaw-dropping, especially at sunset or in the evening when the lights are all twinkly. You feel like you’re in New York or something. I think it’s everyone’s dream to own something with a skyline City-view.
These properties usually sell for more money than just a basic condo looking onto the back of somebody else’s house or a parking lot view. It’s worth it for the enjoyment factor and the desirability factor, and the increase in value will probably exceed just a regular condo.
So, when you’re looking at making a move, make sure you buy the very best thing that you can possibly afford because when its time to sell, everybody is wanting that special “IT”, that thing that makes your heart skip a beat, that place that you can call feel proud to call home.
#TeamKander
#RealEstate
#LocationLocationLocation
#Condo
#Cityview
#TheItFactor

The why behind location location location! Part 1

LOCATION! LOCATION! LOCATION! (Part One)

This is one of the main things I look at when buying a property. When we purchased our condo in Hawaii Bryce said, “well there’s one thing you can’t do and that’s install an ocean view.“ This is true! There were many condos for sale that might’ve been bigger, had more bedrooms, etc. but when I asked the Kauai realtor how many people when they come to Hawaii want an ocean view he paused... and then spread his arms wide apart and said “this many want ocean view”. Probably 90% of people coming to a tropical location want a view of the ocean. So it was a done deal. We purchased the one oceanfront listing with the 280° ocean view. Properties with a view typically cost more but when you go to sell it, if 90% of the people are looking for a view, your chances of selling it are much better than if you buy somewhere else. Plus historically that type of property will increase in value much faster than just a basic location.
#TeamKander
#RealEstate
#Kauai
#LocationLocationLocation
#OceanView
#Value

Bubble burst

The more income you claim on your business at tax time, the more you will be able to ask for on MLS! If you write off all your income, the bank will have a difficult time lending on your business when someone tries to buy it!

What if you needed to sell your business in a pinch for a good price?
You would either need to:
1. Redo your last 2 years of taxes (your accountant can redo your books and you’d have to pay your updated taxes. You could probably pay after the sale of your business from the proceeds.)
2. Sell for a considerable discount
3. Carry the financing for the new owner
Less is not always more!
For Example: If you didn’t show $10,000 of your income for whatever reason, you may save $2,000 at tax time but when you go to sell your business, that extra $10,000 is typically worth 2 1/2 times in value. Therefore you are trying to save $2,000 but it could be costing you $25,000.

If you would want to talk more about this please give us a call!

#WeCanHelp
#PayNowProfitLater
#Selling
#TeamKander
#Taxes
#Business

Bryce bio!

Bryce bought his first house at the age of 13! He has been investment minded and interested in real estate from a very young age. He could see future potential in land and people even when others couldn't. He became a realtor at 18 years old.  He was homeschooled and this allowed him to spend a lot of time interacting with the ins and outs of a real estate career in a very tangible way.   Bryce owns/co-owns 8 properties including an apartment building.  He has accomplished a lot in his 26 years and has big goals for the future personally and for helping people achieve success both locally and abroad.  He has travelled to the Philippines, India, and various African countries and has a huge heart to use his knowledge to help the people there develop skills to have better opportunities for their future.   Bryce has surrounded himself with a great variety of people that teach him and give him good counsel and that he can ask questions.  He is acquiring great skills with regards to creating a business, working out a business plan, and making good contacts. He is an avid volunteer. No job is too insignificant or too big for him to try.   Bryce loves to search out answers to your real estate questions in every area and therefore is acquiring a solid base of knowledge on many topics. He is also involved with various investment groups in Alberta and the Success Builders leadership team at his church.  Bryce is a top-selling Realtor in Red Deer with 8 years of experience.  He has the depth of insight and understanding of the industry of a very seasoned realtor coupled with the vitality of youth for a winning combination. He loves helping people get set up for long term success especially through purchasing suited properties.

Penny bio!

Penny has been active in real estate sales and investing for 39 years! She started at the age of 18.  Penny has owned over 40 properties including realizing her dream of an oceanfront condo in Kauai. She has consistently been a top producer in Canada and internationally. For the last eight years she has happily teamed up with her son, Bryce. TeamKander has continued the tradition of being a top producer.    Penny loves to inspire both young and old with a vision and a path to a better future.  She has enjoyed opportunities to speak to various groups on real estate investing and is available to speak and inspire at your events. She has a charitable heart and a great desire to feed orphans and empower families in impoverished countries as well as supporting charitable programs locally.   Being a Realtor is not just a career to Penny; it is her passion!  In her spare time she looks at open houses and watches home shows on TV and studies the market both at home and abroad. Penny has brought her unique perspective to her business and was doing creative financing such as rent-to-owns before it was cool. She puts the create in creative financing.   With Penny you will get honest, authentic, and entertaining insight from someone who truly cares about your success and you’ll receive solid instruction on how to help you achieve your goals and make your dreams come true no matter your age or station in life. 

Increase your revenue from a property

Another great way to increase your revenue from a property that you own is to build a garage. Build the biggest garage that you can possibly build. If you can build a three car garage build that if you could build a four car garage do that. You can generate anywhere between $100 and $200 a month for indoor parking. Especially if you live in a cold climate where no one wants to scrape their windows and they like to get into a warm car. This is a great idea. Again this will also increase the resell value of your property. I love garages I may love garages more than I love houses. People always want to rent garages. This will also set your rental apart from other properties because you offer this option of having covered indoor parking. Trust me this is a winner!

Top questions to ask a prospective tenant!

Reference questions that you can ask when a tenant applies to rent from you.

On a scale of 1 to 10 how clean are they? It’s actually the tens that I worry about. If people are so much a perfectionist your rental may never be good enough for them no matter how much you do for them.

Would you rent to them again?

If you were me would you rent to them?

Did they pay their rent on time in full every month?

How long were they your tenants? You’d like to find some tenants that actually have some Long Jevity and don’t just jump around from one place to another.

Did they leave the place clean when they left? Where there any damages to the property when they left?

Did you have any complaints from neighbours about any noise or disturbances?

Would you rent them your own house?

When you’re talking to the employer you could ask them if they felt that they would be able to pay the rent of blank. If the guys only making 1500 a month and his rent is 1000 unless there’s a wife working he’s probably not going to be able to swing that. It’s a gentle way of asking how much the guy makes.
Also ask him if he’s a good worker and shows up on time? Really want to know if he is actually going to have a job so that he can pay your rent.

How to INCREASE your CASH FLOW without buying another property.

 How to INCREASE your CASH FLOW without necessarily buying another property.

One interesting option that is now available to you with which to increase your monthly income is a website called Airbnb or VRBO (Vacation Rentals By Owner). Through this service you can rent out everything from one room, a shared space, a Basement Suite, or an entire house. You could literally start earning income from your present house immediately. Even if you only have an extra bedroom you can post an ad to rent it out. A friend of ours has a place in Vancouver and he travels a lot so he rents out his bedroom and makes more (A lot more) then he’s actually paying for rent. We have personally rented through these sites as close as Edmonton to places all over the world.

An executive rental is also an option. This is where you add furniture and possibly basic linens and kitchen items and you rent your income property out on a more short-term basis (preferably one month at a time but some people will do it even for two or three days). It does require more management but it also means more profit. I had a property that would normally rent for approx. $1200/month but I bought $5000 worth of furniture and household items and I ended up at one point renting it out for $2650 a month. That’s a pretty great return for a small investment.

You could take a little Basement Suite that you have and instead of getting $600/month you could furnish it and probably get $900/month instead.

Just a few options to think about!

#TeamKander
#HowToBeALandlord
#CreativeRentals
#YouHaveOptions

How to attract more tenants!

A great way to attract tenants to your property is to offer an incentive.
For example: Bryce offered a free iPad mini with the signing of a one-year lease. (You just write in the lease that if they don’t stay they have to give back the iPad mini or pay for it). It’s a great marketing tool!
Some people offer a free months rent or a portion of a month at the end of 6 mo or a year. If you do it in December its like a Christmas present or year end bonus and money is often tight for people then.
Never offer a free damage deposit as its wise to have a full damage deposit in place for cleaning or damages at move out.

Another interesting idea I heard of was a landlord who offered $1000 to the tenant at the end of each year that was to be used toward something to improve the property of the renters choice. For example, if they wanted $1000 towards new flooring, they wanted a new washer/dryer if the other ones weren’t working that well, or maybe fresh paint. It’s a win-win! The tenants feel more ownership of the unit and get to make it feel like their own. It’s also a tax write-off for the landlord and just keeps the property improved and looking great.
You can get creative and even though incentives cost a bit they are tax write-offs.
It beats having the place vacant and sets you apart from other rentals!
#TeamKander
#RentalIncentives
#HowToBeALandlord