So would you be more likely to install a certain popular upgrade if you knew that an actual lender – one the biggest in the country, no less – had specified that this upgrade was likely to garner you 100-200 percent ROI upon completion? I know I would! I’d break out the mortar, or the paint brushes, or whatever it was I needed for sure. And since I suspect you feel the same, we’ll get right into that in just one minute. Before we do, however, I’ve got to mention a little something about higher education. Turns out, people with bachelor’s degrees are way, way, wayyy more likely to own their own homes than those with high school diplomas and G.E.D.s. You can check out the hard numbers behind this in our News & Networking section, by the way. But more importantly, this touches on something that has a place very close to just about everyone’s heart and bank account: paying for college. Whether YOU want to go to college or whether you’re hoping to help a loved one get there, a guy in the REAL ESTATE SPACE can help. This Canadian actually funds nearly all of his real estate deals using grant money from the government, and, along the way, he’s found literally hundreds of ways to get money for college as well. Get all the information by watching his free training at www.rei.today/college and whether you want deals, degrees, or you want it all, you’ll find a lot of great info to help you get there and get that money.
Now, back to another good way to get that money, 200 percent ROI. Here’s the scoop straight from QUICKEN LOANS, one of the country’s biggest mortgage loan originators out there. Think they know a little bit about how to evaluate home values? Yeah. I do too. Here’s what they had to say:
Quicken Loans, oh, yeah, and MSN Real Estate got in on this also, reported that an appropriately designed outdoor kitchen could and I quote, “fetch a 100-200 percent ROI.” Now these are pretty big numbers to throw around, so I figured we better dig into the details. After all, that little “appropriately designed” caveat could throw a huge monkey wrench into the mix if you’re not careful. According to Quicken analyst Krissy Schwab, you need to first carefully evaluate the climate in which you are building (New England outdoor kitchens MAY NOT net you quite the returns you’re hoping for) as well as evaluating the caliber of other outdoor living areas in comparable properties. Remember, it may in fact be the case that a stone-fired pizza oven, fully plumbed bar and sink area, and nicely upholstered built-in furniture may be must-haves in Malibu, for example, but that may not be true in the suburbs of Atlanta, where a nice weather-proofed grill, stone firepit and a gazebo could be all you need and, furthermore, all you should install. Check out properties at and slightly above comparable price points and (this is important) as close as possible in proximity to your own property to determine what is “par for the course” in your area.
Finally, take a quick gander at outdoor living trends. In summer 2016, for example, buyers are swooning over solar lights (not hard to install or at least stage), natural wood and stone features, and permanent seating installations (think gazebos and pergolas, those lattice-work structures that provide interesting shade patterns and can be used to support climbing flowers and vines. For a complete list of currently trending (as of May 2016) outdoor home design decisions, go to our REI Today Vault at www.rei.today. Not yet a member? No worries! text REITODAY no spaces, no periods to 33444 and I’ll immediately send you the information you need to get that access and ALSO provide you with fast, immediate access to all sorts of great trainings, news coverage, interviews, and lot more timely information that will help make your investing safer, faster, and more profitable.
And remember, when you do that, you’ll also be able to GROW YOUR NETWORK by interacting with me and your fellow listeners to REI Today… so stop by to ask questions, make comments and network with other investors across the country. Text REITODAY no spaces no periods to 33444 or head over to www.rei.today/vault right now.
REI Nation, thanks for listening in and always remember this:
Your best investment is your own education.
Carole Ellis is the host of Real Estate Investing Today, a popular 9-minute daily podcast focused on educating real estate investors about the important topics that will make their investing SAFER, FASTER, and MORE PROFITABLE. She's also the editor of the Bryan Ellis Investing Letter. She has more than a decade's worth of experience in and reporting on the real estate industry and, additionally, has written dozens of courses on the topic. Carole lives in Kennesaw with her husband, Bryan, and four children. She believes wholeheartedly that your best investment is always your OWN education.