Los Angeles + Orange County Real Estate Podcast with Alfie McFadden

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Today, I’m coming to you from the Mike Ferry Retreat in Las Vegas to share what I’ve learned here so far. 

These tips can help agents, buyers, and sellers alike. First, ask yourself if you have a goal that keeps you motivated. 

We all have challenges in life, but having a goal to strive for will take you above and beyond whatever struggles you’ll need to overcome. 

Going to events like the one I’m at now is something I do to help me chase my own goals. I do this every year with the goal of improving my ability to serve my clients.

Getting better as a person and a professional is important to me. 

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Getting better as a person and a professional is important to me.

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So if you need help with strategies on writing out your own goal, I’d love to help.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you, soon.

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Did you know that you can shorten your mortgage term without refinancing? In fact, there are a few different ways in which you can do this. One option is making an extra payment each quarter. Sometimes that can be tough though, so here are a few other options.

You could also add an extra 1/12th of your regular payment to each monthly payment. For example, if you have a $1,200 payment, you would add $100 to each payment. If you do this for an entire year, you will have made 13 payments instead of 12.

Another option is paying bi-weekly. Instead of paying $1,200 once a month, you can pay $600 twice a month. You’ll also end up making 13 payments with this method by the time the year is over. You could also just round up your payment or pay a little extra when you get a bonus or raise. The more you pay into your mortgage, the quicker you’ll be able to pay it off.

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Bi-weekly payments is a great strategy.

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If you have any questions for me about this or anything else related to real estate, give me a call or send me an email. I look forward to hearing from you.

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I wanted to make sure you were in the loop about what’s been going on in the LA and Orange County real estate markets as we transition into the summer. Here’s a quick rundown.

Here in LA County, we have 11,232 homes currently on the market for sale. In the last 30 days, however, the demand has increased and 6,610 homes went into escrow.

In Orange County, there are 5,757 homes on the market. 2,904 homes went into escrow there in the last 30 days. 

As for Riverside, 3,490 homes went into escrow in the last 30 days and there are currently 8,146 homes on the market. 

In terms of the percentage of active listings that are going under contract each month, LA County is at 59%, Orange County is at 50%, and Riverside is at 43%. These are all high figures, so what does it mean for you?

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The market is very strong.

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For one, the market is very strong. We can probably expect inventory to rise from now until about mid-August, making now a great time to get in the market. If you’re thinking of selling, you have to make sure you hire an aggressive agent who can help you take advantage of this market while it’s still hot. If you’re thinking of buying a home, you need a good lender in addition to your trustworthy agent.

If there is anything I can do for you or if you have any questions for me at all about real estate, give me a call or send me an email. I would love to hear from you.

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Last week, we talked about using leverage to have renters pay your mortgage, increase your equity, and give you cash flow over time. Today, let's continue that conversation with an example.

Let's say you have $50,000 to invest and you choose something like stocks or a mutual fund. If those stocks rise by 10%, you'll make $5,000, which is great. 

Now say you used that same $50,000 to invest in buying a $300,000 house, which you rented out. If the market increased by that same 10%, the great part is that your gain isn't based upon what you put in, but upon the overall price of the property. 

Now your $300,000 property is worth $330,000, and your gain is $30,000. Your initial $50,000 is now suddenly worth $80,000.

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By investing in real estate, your value grows at a larger scale.

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Now, this is a very simplistic example to make it all easier to understand. Keep in mind that there are different strategies for this type of investment depending on where you're at in life. 

You might be retired (or close to it) and want to be a little more conservative with your investment. Or, you might be young and have a lot of time to grow your investment. 

If you have any questions about the benefits of investing in real estate or about the different strategies you can employ, you can always give me a call or send me an email. It would be my honor to help you.

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Imagine you won an extra income every single month without putting in the extra hours of work. Wouldn’t that be great? There’s a way you can do it, and it’s by building wealth through real estate. 

Specifically, I’m talking about how to use leverage, which means using real estate income properties to leverage your time so you can earn income that renters pay. Over time, you will have those renters pay down your mortgage and you will see that value of your home increase. Your equity and cash flow will grow as well. 

At some point in time, you will have a stream of cash flow that will provide for you and your family and have equity that will increase your net worth. Your net worth is simply your assets versus liabilities. 

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Over time, you will have a steady stream of cash flow and an equity that will increase your net worth.

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For example, if you have a house worth $500,000, that’s your asset. The liability is the mortgage you owe on the property (let’s say it’s $250,000). Subtracting the difference between the two gives you your net worth, which in this case is $250,000. 

It’s our goal to make sure that net worth increases each year along with your cash flow. In the next few videos, I will show you a strategy to help you gain wealth. Stay tuned, because you won’t want to miss it. 

In the meantime, if you have any questions or want to know the value of your home, don’t hesitate to reach out to me. I’d be happy to help you.

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Right now is the hottest time of year for our real estate market and I wanted to show you the numbers that back that up. 

Just in the last couple of weeks, we saw 300 homes come onto the market. That represents 6.4% of the marketplace and that’s great news.

Demand remains at an all-time high. In fact, also in the last two weeks, houses that went into escrow and pending sales shot up 11%. There are 3,000 pending right now! 

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You’ll need an excellent strategy if you’re looking to buy or sell in this market.

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If you’re on the fence or have any questions about buying or selling, let me know. Because our market is so hot right now, you’ll need an excellent strategy whether you are looking to sell for top dollar or beat out other offers to purchase your dream home. Don’t hesitate to give me a call or send me an email. I’m always happy to help! 

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Many people have asked me if now is a good time to sell, or if they should hang onto their homes for a little longer. There are actually a few factors that influence the answer. 

We have a new president, interest rates are going up, the spring market is in full swing, and people are preparing for the summer market. Whether you should sell now or wait depends entirely on your specific situation, so you need to ask yourself a few questions. 

First, what is your goal? Are you currently renting and looking to buy your first home in the next year? Maybe you already have a home but need to accommodate a growing family. Are you looking to downsize? Make sure you know exactly what your end goal is before you sell your current home. 

Second, what is your time frame? Are you trying to sell and move into a new home in the next six months or year, or do you need more time to save up? Make sure your time frame is realistic in relation to your finances and personal circumstances. 

Finally, what is most important to you? If your children are priority No. 1 during this move, consider checking out homes near the best school districts. If you’re an investor and money is your motivator, you want to look at properties that will have the best return. If you’re looking for a quiet life and want to make a switch from the city to the country, make sure you’re aware of what owning a rural property entails. 

If you should sell now or later depends solely on your specific circumstances.

So, should you sell now or later? The answer really depends on you. 

If you need any help figuring out when the best time to sell is for you, or if you have any other real estate questions, feel free to give me a call or send me an email. I’m always happy to help.

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One of the most common questions I get is whether you should update your home for the market before you sell it. It's a really good question, and to answer it, let's look at it from the perspective of a buyer. 

When I take buyers to a home, the first thing they wonder about isn't whether the seller offers an allowance or a home warranty, but the actual feeling of the space. With that in mind, the first thing you need to do is make sure your home is clutter-free. Are all the papers off the desks and the pots and pans off the kitchen counters? Everything should be clear and tidy. That's the best and cheapest way to make sure your home shows well.

Now, if you've been in your house for many years, the easiest way to freshen it up is with new paint. You probably have some scuffs or your whites just aren't truly white anymore. A fresh coat of paint doesn't cost much money and doesn't take much effort.

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New paint is the easiest way to instantly freshen your home.

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The third thing I would encourage you to think about is having the right-sized furniture. For example, if you have a small bedroom or office, don't put a large king-size bed in there. When buyers see that, their first reaction is to think about how small the room looks. Focus on the right-sized furniture or the right amount of furniture; you don't want to create a cramped feeling with too many pieces of furniture. If you've lived in your house for a long time, you might not notice these things after a while. 

To get a fresh new look and some advice about preparing your home, reach out to me! We can discuss how much equity we can get out of your home just by doing simple things both in your home and in the marketing. We also have staging professionals to make sure your home looks as good as possible for the market. 

If you have any other questions or you're thinking about buying or selling a home in LA or Orange County, give me a call or send me an email. I'd be more than happy to help!

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We are starting the year with incredibly low inventory.

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You see, my wife and I recently bought a truck, and our plan was to make a down payment on the truck. Instead, we financed the entire purchase of the truck. Rather than putting a down payment on the truck, we used that money as a down payment for a real estate property. This way, the income the property was making for us as we rented it out would actually pay for the car itself.

If you tried the same thing, sometime in the near future when the car is paid off, you’d still have an asset that’s providing you income every single month. Not only that, but over the long term, you’ll have an asset that’s appreciating in value, thus increasing your net worth.

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The income you can make from renting a property can pay for other things.

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This is in contrast to the more common method of using that money to pay off the car and watch it depreciate in value the minute you drive it off the dealership lot. It’s never the best idea to use an income-producing property to pay off liabilities such as cars that depreciate in value, but it’s a better method than actually taking that money and just paying off a car that doesn’t appreciate in value at all.

There are many ways you can appreciate your value, so if you’re thinking of buying, selling, or investing in real estate, give me a call or send me an email. I look forward to collaborating with you!