Idaho Falls Real Estate Video Blog with Mike Hicks

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Today, Jared Duncan, a property manager with BMG Rental joins us to discuss rental properties here in town. In the past, we discussed rental properties and investment properties, so today we thought we would talk about HUD-owned homes and identifying great investment properties.

Whenever you're looking for a solid investment property, the first thing to look at is the curb appeal. Large, mature trees, and vinyl siding are examples of things that make a home more appealing to potential buyers.

We took a look at a HUD-owned property here in Idaho Falls recently that was listed for $78,000. After some new carpet and flooring, Jared estimates that he could have the property ready for about $5,000-$7,000. In total, if you were to purchase this home, you would be in for about $85,000 and could rent out the property for $850 per month. The return on your investment would be 1% per month, which is a pretty nice return!

Now is a great time to try to scoop up a great, low-priced investment property. If you would like professional assistance, or if you have any real estate questions at all, give me a call or shoot me a quick email. I would love to hear from you!

The Idaho Falls real estate market is diverse with both buyers and sellers alike seeking a variety of different properties. As a prospective seller, you can find out the market value of your property with a free home value report right here, or if you're looking to purchase in the Idaho Falls click here for full MLS access. Always feel free to reach out to us for any questions regarding the current market conditions, or the value of your property at 208.227.5320.

Last time, we discussed the many benefits of home ownership. Today, we want to talk about investment property and the many opportunities currently available in that area of the market.

Most people have their money in a CD or a savings account at the bank. If it's in a savings account, you're probably getting .5% interest; if it's in a CD you may be getting as high as 2% interest. While there's nothing wrong with accruing money from interest, people often forget that investing in real estate is a great path to wealth.

On a $150,000 property, you would have to put 20% down as an investor, so you would have to have $30,000 available for a down payment. If you're financing $120,000 at 4.5%, your total payment would be about $850 per month including property taxes. You would be leasing the property out for, say, $1,150 a month for rent. The difference you would be taking home per month is $300, for a total of $3,600 annually. That's a 12% cash-on-cash return!

How many other opportunities do you have to get a return like that? That's a much better rate than your savings or CD account.

If any of this has piqued your curiosity, give us a call or shoot us an email. We would love to help you start building your wealth in real estate!

Why work with us?

Originally from Tennessee, I am easy to get along with...and even though the accent is gone, the "Southern Hospitality" in me is alive and well. While the Country Boy in me makes me easy to be with, I am fastidiously attentive to the details which makes for a nice combination in the home buying or selling experience.

There is no teacher like experience!! Those who work with me are comforted with the knowledge that all of the details will be closely managed. In 22 years I've assisted over 2500 families with their real estate needs. My clients receive the benefit of this vast array of experience as we seek to stay out in front of issues or even better yet, avoiding them entirely. We stay on the cutting edge of technology but count the personal touch as king! Honesty, integrity, trust, dependability, thoroughness, personable, incredible experience and highly professional are some of the words & phrases commonly used by clients and peers to describe my service.

All of this is great, but we have to prove our merit to each and every client each and every time. We must excel every time we help someone whether it's simply in answering questions or assisting thru a real estate event. There is no higher testament to our high service levels than the fact over 90% of my business comes from repeat and referred clients.

Give us a try and find out why!

Have a mighty fine day!

Awards & Designations

Certified Residential Specialist Accredited Buyers Agent Certified Distressed Property Expert Graduate Realtor Institute Certified Negotiation Expert RE/MAX Hall of Fame RE/MAX Lifetime Achievement Award

Mike Hicks
Keller Williams Realty East Idaho
3525 Merlin Drive
Idaho Falls, ID 83404
Office: (208) 227-5320
Fax: (208) 529-8893
mikehicks@kw.com

Mike Hicks Testimonials

Click to hear recent
testimonials from happy clients

Dale - "We had excellent results. Mike did a very good job for us. He really went out of his way to find us a place to stay after we sold our home. He found a house that had been on the market for a long time and called the people to ask if they would let us rent it from them before we moved into our new house. He arranged everything which we really appreciated!"

Mandi - "Because of Mike’s experience and help, we were able to buy our first home. We were very inexperienced and really didn’t know what we were doing but Mike helped us along in the whole process. He kept us informed the entire time and overall it was just really great to work with him. We had some communication issues with our builder and Mike was able to take care of the situation and be the intermediate between us and the builder. He knew exactly what to be asking for and what we needed."

Richard - "I was very satisfied with our results when working with Mike. One thing that really stood out to us was that he gave us an indication of something when we wanted to close on our house. He suggested that we got a little higher and it got us some extra money so we appreciated his advice!"

Tom - "We had positive results! Ultimately, Mike got us into a house that we’re very happy with and he got us the best price we could get for our old house. He worked very hard on our behalf and really paid attention to what we wanted. He knew how badly we wanted to get out of the last house and gave us good advice along the way."

Wendy - "Mike was able to sell my house! We had a couple that wanted to buy the house but the guy was hesitant because we had said that 8 years prior we had some water come in. He thought that there was mold so he had a service come in and do an inspection. They guy said that there wasn’t any but there was one more step to the process so they sent it over to Washington DC. It came back that the spore count was off so Mike got on the horn and had a mold specialist come in. He did an inspection and said that there was no mold in the home. That’s just what Mike does! He knows how to dig down and get the right person for the job!"

Juliet - "Mike figured out very quickly that the housing market wasn’t giving us what we wanted, so he found a builder that we could work with. I was really pleased to see that Mike was willing to put his customer’s preferences and desires ahead of making a commission off an existing house. That was above and beyond."

Jerry - "I've used Mike on four different real estate deals. I found him to be very knowledgeable and very professional. He got the job done. He categorized what my wife and I wanted to look at, and didn't waste a lot of time showing us stuff that wouldn't fit the bill. He was selective about what he showed us, and I appreciated that."

Ben - "We were really happy. The house sold really fast, and the closing price was pretty close to what we were hoping to get. We had a bunch of questions along the way, and I was able to call him directly. I liked that I could call and talk to him, and not end up with his voicemail or someone in his office. All in all, it was a very good experience."

Doug -"We’ve worked with Mike Hicks for the last four houses that we’ve purchased in the course of twenty years. The reason we go to Mike over and over again is we always get results. His staff is top-notch. They always go above and beyond. There’s always been fast results for every house that we have sold. I think going above and beyond is their standard operating procedure."

Pages

How to Identify a Great Rental Property in Idaho Falls

Are You Missing Out on Big Investment Returns?