Spending $100 Million on Real Estate: Saint George, UT & Summerlin, NV [HouseHack Trip 5]

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

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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

[Music]

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 how many

square feet is this

system

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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

guys actually do pull rents out here the

best part about this neighborhood is the

school districts so people want to be

you know here Palo Verde all the best

school districts in in town pretty much

how many square feet is this this one is

almost 1700 this is 1700 okay okay

single story though so it'll rent a

little bit more than let's say a

two-story

and then you got the town homes on the

other side or smaller homes on the other

side okay

okay awesome

uh obviously that that price for

something fixed up this is probably you

know a little bit older carpet and also

yeah yeah that makes a lot of sense uh

and you said this is about 480. this one

is 500 is listed up oh right market

right okay market value made 480. okay

good to know where's the next one is

this something that you'll be interested

in or oh yeah like this this is a fixer

hands down easy this is easy because

these are newer too what is this early

2000s yes yeah so early 2000s I mean

you're not gonna have any issues with

the structure or the you know the

systems or whatever uh roof is still

pretty new you know these are 50 60

years or 56 of your roofs uh we we would

be interested in something like this

that

you know had the nasty carpet the nasty

smell you know the tenant just got

kicked out you know that kind of stuff

we want to compete with the uh you know

pay a little bit more than the flippers

on on those side of the deals so when

they come up we'll you know we'll in the

neighborhoods we know we'll just buy him

site on scene right right I mean I can

the cool thing about doing these videos

is you know I could just go back to my

videos too but we'll also be coming back

to these areas so this I'm actually

pretty impressed so far with Summerlin

this is this is pretty good uh some of

the areas we go to I'm like yeah now we

probably won't be back here

um why don't you shout yourself out tell

tell uh tell everyone who are you your

name um phone number maybe and how

people can get in touch with you my name

is Jack Graham I'm a realtor out here in

Las Vegas I help out people mostly from

out of town to move here to the valley

so that's what I specialize in and uh

fixer-uppers new construction whatever

it is uh my channel I have a YouTube

channel and my name pretty much Jack

Graham uh you can check me out right

there I do video tours of homes pretty

much how do people call you all my

information is on my channel but 702 606

4815 any real estate needs I'm here to

help that's awesome now also the

neighborhood here or just Summerlin in

general when you see people selling do

you do you have people ever leaving the

area or are they just going to another

neighborhood way less than uh how many

people actually come here oh okay so way

more coming in versus going out right

and where they go when they do leave

it's usually they leave because they're

priced out priced out of Vegas well

priced out of it because it's growing so

much wow so they go into a lesser less

desirable neighborhood where oh oh

neighborhood in the in the area here not

many people leave Las Vegas I think we

had like uh 10 000 people leave uh last

year or something like that but we had

like 53 000 commands oh wow okay okay so

you're getting five new entrants for

every person who leaves oh that's

interesting we have where would those

people go if they do leave Vegas

um I mean who knows okay so there's no

like clear Trend where you're like oh

yeah everybody's going to Texas our

competition and I see this because I get

a lot of people from California yeah

yeah of course I see this with uh people

either going to Texas Florida are there

or Arizona probably yeah competition

those are your competitors that makes

sense okay so nobody's going up north

yeah the good thing about Las Vegas yeah

the the good thing about Las Vegas is we

have dry weather so yeah there's there's

no humidity even though like right now

I'm kind of cold right now if you notice

no I do yeah but you know I don't even

have a jacket you know so we're in

February I got four layers right but it

was cold this morning so anyway it's a

great winter man yeah awesome this is

super cool so um we're gonna be be back

in in Vegas I would imagine within the

next couple months and we'll go look at

some more neighborhoods too maybe next

time uh let's let's look at the area

around Ikea you were talking about

because I want to see the difference so

a common question I get in fact that we

were just talking about is what's what's

the goal right of viewing these homes

and the goal is to get familiar not just

with agents but also properties and

neighborhoods so that way if in a year

from now I get a call and Hey Kevin

there's a sick deal in Summerlin it's

about to hit the market in two days we

got to be quick on it it's a fixer-upper

they're looking for a cash offer are you

interested I can go look at my Summerlin

video and go I remember that in fact

I've been in Summerlin four times oh

look we've been in that neighborhood or

I've been in Summerlin 20 times

depending on how often I'm in Summerlin

right which is very close to us it's

very easy to be out here in Vegas the

airport's you know 15 minutes away from

Summerlin so we can make a buy decision

without even being there and then of

course in the future during inspections

or regular escrow period or whatever we

can always verify what we're looking for

but but the more familiar we are with

neighborhoods the the better deals we

can get the more familiar we are with

agents the better deals we can get the

the person who always loses a deal is

where the agent uh sends someone a deal

and the person's like okay I'll get back

to you tomorrow no it's sold by then you

have to know right when they call you

hey are you interested uh where is it oh

yep I'm interested that's the point of

of doing all this you've got to become

an expert in buying real estate in my

case for househack I got to become an

expert in the western half of the United

States so that's what we're gonna do in

the future we'll become an expert in the

entire United States and if things go

well after that we'll go beyond that

that's the plan now we've moved up north

of Sun City Summerlin this is called a

the Lone Mountain District this is about

17 minutes away from the airport where

our Pilots are now getting ready our

plane and if you want to Shadow me or

check out the program so building you

both learn everything that goes on in my

head enjoying those lifetime access

course member live streams make sure to

do so via the link down below take

advantage of the flash sale that's going

on but what are we doing here well we're

here to look at these homes now this is

a little bit more unique this is in a

gated community you can actually see

that these homes share sort of it's not

really a cul-de-sac it's more of like

you've got two flag lots and then uh two

entry homes here all in sort of this

this custom

driveway-esque thing it's different you

know you've got these little pods almost

they're like prison pods or jail pods uh

it is a gated community I don't really

know anything about it so we're going to

learn about it that's the point our goal

is to travel and learn everything we can

about the western United States and here

we are doing just that so we'll see what

we've got in the neighborhood wish me

luck okay what's up man nice to meet you

nice to meet you so did uh how much we

have a rundown of McKay give you of kind

of what we're doing so this is this is

the first one yeah and

um then uh do you live in this area I

live in the Northwest so a little

further up so what's what's the

difference between like where you live

in here this one kind of took a bigger

hit during like the oh recession time

okay so lone lone mountain is what we're

in now right okay okay and that's a

bigger hit the Northwest you said right

so these were I know I bought my first

house in 2010. oh good for you that's

right good for you man yeah so I

remember seeing these these were down

like to like 175 the 150 area so what

are they now what's this one this one's

uh 349 yeah so there was a lot of

investors renting them out so the area

is kind of going back in okay now that

they're able to actually how's the last

like eight months been so does it slow

down a lot or has it picked up even

recently like in the last two months

what have you seen

we are from what was it June till

November yeah it was fairly dead fairly

dead yeah okay and so you got to pick up

in December right wow okay December now

to now like it's actually been pretty

busy really oh that's interesting okay a

lot of people looking or like more

people listening or both uh more people

buying okay there's more inventory so

okay good there's a buy down interest

rate yeah it is the lender's buying down

in that yeah

nice okay so

um this how much did you say this was

349 349 it's a three and two what could

something like this right for uh we're

getting about a dollar 25 per square

foot so okay so these and these are

two-story Town Homes these look like 90s

homes you find out when these are built

so you got laundry over here sure no

these these might even be older

okay do you know when this was built the

highest one was 1950 I mean not 1950 but

the rental was 1950. okay yeah and then

uh 1997. 1997

built in 97 and then three and two he

said 1950. okay okay yeah that that

makes sense and

um is is there a reason you have it

seems like Summerland you don't have as

many gated communities until you get

like into the million dollar range right

do you just get more gated communities

out here or is there more crime no I

mean just I think the gay community

became more of a like a luxury ah okay

it's just a feature and then in the 90s

for like the you know got it you saw

that in the 90s yeah have you seen most

like 90 homes yeah yeah outside on this

skirt yoga like see more gated

communities oh really okay so it's like

90s you had dates right okay oh that's

awesome okay nice uh HOA out here

probably a little higher than some of

the track tones well I mean this is

attractive as well but one two three

yeah here's your three and two and

here's your master

ish I think yeah this is your master

over here

yep the nice thing about 90s is you do

often see like even the traditional

Cabinetry is more dated the traditional

paints more dated uh you know it's it's

it's you're more likely to find Bolder

uh mobile properties that just need a

little bit more TLC love do you invest

for a rental would you pick here or

would you be going more where you live

in northwest

in the Northwest you'll be getting more

demand for it more rent demand demand

for rental because where I live it's a

closer to where are you so you must be

this way like towards one Creek

basically this is considered Northwest

like

oh this section right here right well

like can I touch it sorry yeah yeah of

course please

that corner right there's Northwest like

by Floyd Lamb from here so like this is

basically the exit to Mount Charleston

ah okay and it goes all the way to the

Aliante Casino

which is like right here by the golf

course so this whole thing like tool

spring and everything over here huh

right ah okay got it and

um

okay yeah Target so definitely get more

of your buck more pay for your buck yeah

okay okay is that because prices are a

little lower or do you have just more

demand for rentals you were trying to

think you'd get bigger homes bigger

homes ah I got you okay who do you see

live in like Northwest and out here uh

like in your neighborhood what do you

usually see like why are people coming

to that part as opposed to say like why

would somebody pick where you are versus

say Summerlin right so I mean in

Summerlin yo

get a smaller home for the price because

you're buying the area more than the

home you're buying the area there so

it's deemed to be for whatever reason

more desirable right okay okay got it

and because you'll get maybe like a 2500

square foot home for like 400 000 in the

Northwest while you're moving to 700 for

400 000 you can get 1300 square foot

house oh I see I see okay and then would

this be sort of in the middle do you

think that's in the middle this is more

than okay got it

got it

I mean people pretty much do everything

for work out here in Vegas huh right

mostly casinos really okay okay yeah I

guess that makes sense North Las Vegas

you'll see a lot of uh military people

oh is there a base yeah no software's

base oh sweet oh that's why one of the

reasons too like renting on that side is

kind of like it's better because you'll

have more honest people oh wow

over there as well oh that's awesome

well that's awesome okay let's go to the

next house all right perfect I like this

sweater by the way Berkshire printed to

these guys yeah definitely that's

interesting they got the pool slide over

there I want a pool slide I like the

fake grass that's smart you get the fake

grass over there and see people

investing in in their uh homes is good

so you've got refrigeration and HVAC

over here so you gotta start you know

you got the cargo vans like three in a

row over here so it's a little more blue

call Renee right but people were taking

pride of ownership nonetheless

nicely this one hasn't repainted in a

long time they've repainted the yellow

one could be dated that great this this

I don't know that this is in an HOA

because that looks like a non-standard

color that gray and the pink doesn't

really work is this an HOA we'll find

out no way try no yeah yeah yeah he's

just by looking at the neighborhood

there's an eight toy but it's 27 oh so

it's probably just to like manage

certain things but not really strict on

it yeah okay okay yeah you got the 90s

floor nice this is must be another 90s

build then this this is pretty generic

so somebody's already kind of come in

right and they've already done the paint

of the cabinets so this sort of takes

away some of your opportunity here uh

and I'm surprised they would do white

knobs on the white painted cabinets it's

closer to the airport but not really

closer to where you are so you see a lot

of va buyers or what do you generally

see like three and a half percent down

fhas or right now yeah like who's your

big buyer right now who where do all

these people come from December right

now is mostly most of my clients right

now are upgrading their homes upgrading

oh so they're keeping the first one or

are they selling they're selling their

first one and then they're getting all

their proceeds because they don't know

how much lower they're going to go ah so

they getting all the proceeds flipping

into their new home so we don't realize

we're on a little bit of a down slope

right exactly okay so don't be surprised

by that exactly okay and then they'll

get whatever the salary can't contribute

yeah towards their closing costs so it's

like that makes sense they can maximize

their

purchase yeah this reminds me so much of

like a Miami home I think it's the white

the lighter tile okay so we got a little

quarter bath or a half bath down here

and then two story right I did the

laminate over here it's expensive to and

it's actually hard to do the laminate in

the staircase you could see they didn't

do that I mean that could just be a

piece of molding missing over here but I

don't know they did the best job on that

and what do we got over here one two

three oh it's a four bedroom see that's

nice one two

so you got three bedrooms over here sort

of the double vanity top over here that

is a tiny fan gee whiz how is that even

functional

all right yeah this is very true very

simple I like it

something like this a little bit more

beat up

it could work

okay

cool

yeah simple simple yeah I like that so

so something like this like uh you know

that like the dog smell the nasty carpet

the holes in the wall this is fine this

would align with kind of what we're

looking for this one maybe not so much

with being on sort of the busier Road

right it would be on right now that's

just a third street so okay what what

would something like this rent for

ah I ran my comps for this one yeah

you're looking at 21 to 2200 a month

okay and then what this you said was

480. four Thirty oh okay okay 460. I'm

sorry 460. yeah okay okay and this has

been on the market for a little bit yeah

it has yeah so it's probably about 4 30

or something 4 30 for 20. so yeah okay

um all right yeah that's awesome then uh

and then for bad we'll probably pull us

a little bit more rent than a three do

you see a big difference between the

fours and the threes out here uh not

really not really no yeah okay that's

that's I see that too okay

what will help you is a three-car garage

oh really so that'll give you a boost

right so how much are you really getting

out of would you say a three-part garage

boost and is that really because people

are doing a lot of like outdoorsy kind

of activity here or no it's mostly just

for Storage storage okay storage or

bigger families

uh do you see that a lot out here where

people then are moving from the three

bedroom homes to like the four or fives

with family or right we see a lot of

that we also see a lot of like adults

buying together like oh okay to rent

rooms to each other and stuff like that

okay yeah uh so if you wanted to rent

and not have people sublease maybe the

threes and the fours where you cap out

right we're trying to stay away from

people subleasing yeah okay okay you

know we're going to be back up here and

we'll catch up with you again and when

we're ready I wanna I wanna see your

area maybe next okay the Northwest next

time we come here uh because I'd like to

see if we're we're you know uh you're

talking about with the veterans right uh

that's that sounds really good deals

come up you know I've been an agent

since 2010 when the good deals come up I

know they sell fast right and so I would

expect that like if you called my Hey

Kevin we got a good deal in this

neighborhood I gotta write that day do

you want to shout yourself out your

business yeah sure you can send me a

text or give me a call my phone number

is uh

702-609-2426 awesome thank you so much

you know the the person who chose the

color of house that doesn't match with

the roof also has the old uh police car

the old Crown Vic Crown Victoria

forwards turbocharged maybe how'd it go

sir how was your shadowing experience

yeah no it was a it was an amazing day

overall seen a lot of great places it

was great hanging out with you like

learning

um for me personally as well as just

learning about like the real estate

aspect it was also nice to see Kevin's

uh in his Zone how he works how his day

is going uses inspiration just to take

home with me and just to see what it's

like to run a business on your scale and

what it takes to really get to that

level also seeing firsthand what kind of

deals Kevin looks for what kind of

questions he asks the real estate agents

and then also while we're also hanging

out and chilling finding out what he

thinks about the stock market and the

whole nine yards right it was awesome

thank you so much it was really a

pleasure having it yeah it was it was a

pleasure pleasure being here now we're

gonna get on the plane

and we're doing shots because it's been

a long day and if you wanna and now it's

cold and I gotta warm up if you want to

Shadow me make sure to check out the

link down below this was a long day St

George Utah Las Vegas some great

opportunities for house hack got to do

an interview over at boxable as well so

we got so much done today couldn't get

it done without the bird

now let's take it get some more warmth

yes highly recommend it