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Brandon Vandermyde-Commercial Real Estate Specialist

Archive for the ‘Real Estate’ Category

How to Increase the Value of Your Home or Investment Property

Wednesday, November 16th, 2016

Buy smart

You make profit when you buy, not when you sell. If you buy a home for $20,000 less than it’s worth, you’re forcing an appreciation of $20,000. Buying bank-foreclosed properties and contacting owners directly is a great way to score great real estate deals.

Add an extra bedroom

Turn a bonus room into an extra bedroom, as a three-bedroom home will always be worth more than a two-bedroom home. This can often be accomplished for a low price and add tens of thousands of dollars to the value of the home.

Increase your property’s curb appeal

Most investors who spend thousands remodeling a home neglect to do anything more than a quick outside paint job. Fresh paint is a great way to add value, but there are many other ways to add value. A manicured lawn with well-defined landscaping can help achieve higher rent or a quicker sale, both of which can make the value climb.

Raise the rent

When it comes to rentals, raising the rent can be the key to increasing property value. If your rents are low, a small increase can add significant value to your property. This is particularly true for multifamily properties, where raising rent just $25 per month per unit can add over a thousand dollars per year in extra income.

Increase fees

In addition to capitalizing on the physical ways you can increase the income in your investments, you can also adjust the fees. Are you charging for background checks, late-rent fees, missed maintenance, laundry facilities, paid parking missed maintenance appointments or parking violations?

Add a bathroom

If you’re remodeling a home that just has one bathroom, take note of where the plumbing is located and what extra space there is above or below it. You can often add a small half bath for several thousand dollars and add tens of thousands in value in the process.

Tear down walls

You can take down a wall, or half of one, in a matter hours and create a more open plan. This increases the desirability of a home and improves its value.

Finding the Best Tenants for Your Rental Property

Tuesday, October 18th, 2016

If you own a rental property and want to find the best possible tenants, there are certain steps you should take. Potential tenants look for rental property in a variety of places, so it’s important to advertise through multiple mediums.

Advertise on Rental Websites

Websites like and allow you to list your rental property for free based on location. There are many state-specific websites where you can advertise your property, just do an online search to find a site that targets your area.

Use Social Media

Millions of people use social media platforms like Facebook and Twitter. You can use your personal Facebook or Twitter account to let people know you have a property for rent. List your property on Facebook’s marketplace, post a status update or send out a tweet to your followers.

Advertise in Print

Many people look for rental properties in the newspaper. Advertise on the weekend, especially Sundays, as this is when newspapers have the most readers. You only have a few lines to advertise in print, so use abbreviations to save space. Thought it costs money to advertise in the newspaper, it’s another way to increase exposure.

Use Bulletin Boards

Post flyers in the community where your property is located. This includes bulletin boards at stores, churches and bus stops. Use bold headlines and large color photographs to draw interest. The bottom of the flyer should include tear-offs for people to take that include the property address, the number of bedrooms and contact information.

Find Tenants Through Word of Mouth

Never underestimate the power of the spoken word. If you have any current tenants, let them know there is a vacancy. Tell everyone you know about your vacancy because it’s always possible they need a place to rent or that they know someone else who does. Keep flyers on hand so you can hand them out when it comes up.

Offer Incentives

Everyone likes the idea of a deal or a discount. Offer things like a free TV or discounted rent if a tenant moves in by a certain date. If a television gets someone to move in earlier, you’re saving yourself money and the television can be a tax write-off for the property.

To Flip or Not to Flip: Things to Consider When Flipping a Home for Profit

Tuesday, September 13th, 2016

There are many way to make money on a real estate investment. With the large amount of property types to choose from, the possibilities are expansive. Each property requires a different strategy, so understanding the best option for you is vital to your investment.

Costs to Consider

When purchasing a house that you intend to flip, it’s important to examine every aspect of the house that you will need to put money into. The best way to do this is to start with the end result in mind. You need to start with your ARV (after repair value) and base your budget on that number. You can do this by looking at homes in the neighborhood that are similar to your property. These are called comparables (comps). You will want to keep the following in mind:

  • All Sales – Don’t just look at homes that are currently listed in your area. View the selling price of recently sold homes in the past 90 days well.
  • Comps in Your Area – If there are no comps in your area that might be a sign that the demand in this neighborhood is low.
  • Square Footage – When in doubt, try to find a home with similar amenities and square footage. Divide the sales price by the square footage of the house, and you can figure out the price per square foot.
  • Bedrooms & Bathrooms – How many bedrooms and bathrooms are in a home is a very important selling aspect. Depending on the amount of bedrooms and bathrooms, your selling price can easily be bumped up or down.

Renovation Costs

Make sure you set a budget and do your best to stay within it. Get estimates from multiple subcontractors like plumbers, framers, roofers, and painters. When you set your final budget, be sure to stick to each component of your project and to stay within your profit margin.

After you’ve received and finalized your estimates, set a timeline for completion. It is important to do anything and everything you can to stay within your timeline, because going over your timeline means going over your budget. When you are fixing older homes, there will likely be unexpected repairs along the way. Try to avoid being surprised and make a plan to deal with these surprise repairs as they come up.

Flipping in the Future

As you embark on more house-flipping, you will get more familiar with the market. It will be easier to anticipate unexpected repairs and how much you will be able to list your investment for once the projects are completed. As long as you are careful to calculate every cost possible, you will be able to make a solid profit.

Sustainable Green Real Estate in St. George

Thursday, September 1st, 2016

Coming in at number six on Forbes list of “The Best Small Places for Business and Careers”, St. George UT has the kind of population, job growth, affordable property and low overhead costs that make it an ideal market for investing in commercial real estate. Known as a hub for active living and intense natural beauty, the landscape of St. George UT invites new residents and travelers alike from all over the world. With multiple world-renowned national parks, lush golf courses, rich local history and all manner of nightlife, performing arts and outdoor pursuits, St. George is the perfect place to buy commercial investment property for sale.

One market trend that is gaining a foothold in commercial real estate is sustainability. With increased demand from tenants, investors and government for green buildings, a push has been seen towards making commercial real estate properties more environmentally friendly. Clients have a need for a physical space that reflects their changing needs for more technology and increased awareness of environmental impact. With the special considerations of being located in a desert environment plus eco-tourism reaching newfound popularity, the time is right to invest in green real estate property in St. George UT.

The popularity of green leases reflects the growing attraction of sustainable rental property for tenants and, in turn, the increased incentive for commercial real estate owners to establish sustainability goals and allocate resources for implementation. In St. George as elsewhere, the movement towards green sustainable living and a desire to “unplug” from digital life has opened up the need for properties that can deliver the features prospective tenants want. When investment in commercial real estate is almost always a good idea, as renters become more and more green-minded, commercial real estate owners would be wise to begin undergoing green implementation to suit the changing tastes and wants of potential tenants.

With green building having a tangible effect on employee productivity and well-being, more and more tenants are looking for green spaces that offer the kinds of sustainable features they desire. Whether you want to relocate to St. George, retire or simply make an investment in commercial real estate, St. George offers an excellent climate for opportunity and growth. Get in touch with Commercial Real Estate of St. George today to begin your green real estate investment!

The Current Market for Commercial Real Estate in St. George

Friday, August 5th, 2016

If you’re looking to purchase commercial real estate in Utah, St. George is an excellent option. This city in the desert came in at number six on Forbes’ list of “The Best Small Places For Business and Careers” and the job growth, affordable property and low cost of doing business make St. George an attractive area for commercial real estate.

However, it’s important to be aware of the current real estate market in St. George, where the inventory is low, but demand is still just as high. This dynamic shift has created a true sellers’ market, and while the prices have not shot up, they have progressively increased over the last few years and continue to trend higher. When comparing 2015 to 2016 (YTD), statistics show that St. George prices are already 3.9 percent higher, with April and May having the highest gains of 19.5 percent and 6.9 percent. In addition, the data comparing 2015 to 2016 YTD shows that the number of new listings in St. George is down 4.2 percent but the number of sold listings is up 2.9 percent.

In a sellers’ market it is important to know what the value of commercial property really is. Commercial Real Estate of St. George can set you up with an experienced agent who knows how to negotiate contracts and make sure that you don’t overpay for a commercial space. We will also provide you with a detailed list of available properties, insight on properties that are not yet on the market and information on St. George demographics like population, average income, daily traffic and so forth.

Here are a few more tips for buying in a sellers’ market that you should keep in mind if you’re considering commercial real estate in St. George, Utah:

  • Familiarize yourself with real estate metrics, including:
    • Net Operating Income (NOI): The NOI of commercial real estate is calculated by appraising the property’s first year of gross operating income and subtracting the operating costs. You always want positive NOI.
    • Cap Rate: A commercial property’s “cap” or capitalization rate is used to calculate the value of income-producing properties. They are also used to estimate the net present value of future profits or cash flow.
    • Cash on Cash: Cash on cash compares the first-year performance of competing properties. This tactic takes the fact that the investor does not require 100 percent cash to buy the property and also accounts for the fact that the investor in question will not keep all of the NOI because it’s needed for mortgage payments. Uncovering cash on cash can happen once investors have determined the necessary investment amount to purchase the property.
  • Find a motivated seller who is ready and eager to sell below market value. A motivated seller is someone who has a pressing reason to sell their property below the market value, which is an excellent way to get a good deal in the sellers’ market in St. George.

For valuable real resources, experienced real estate agents, market reports and more, contact Commercial Real Estate of St. George. We’ll make sure that you get the best value for your money in a St. George commercial real estate property.

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