Wealth means different things to different people but for everyone it usually means a happy and stable life with fulfilling meaning. This particular condo was the start of that 8 years ago for a family struggling in a market where interest rates were okay but demand was even higher.

In 2015, the Palm Springs area real estate market was hot like it usually is and for a young family just starting out with a small budget and FHA loan, it was seeming impossible they’d achieve their dream of homeownership. They were sick of renting and dealing with awful landlords and small places they couldn’t make their own or fix to keep operating properly. Enough was enough. The problem is, even then $250,000 didn’t get very far. The most affordable neighborhoods were seeing a surge in pocket listings that were mid renovations to become $300,000 flips. Prices were inching higher and about to rise even further.

After multiple homes that were perfect, but outbid to cash offers and quicker closing timelines, reality was setting in. It was either go back to an apartment, or at least get a condo to have their own space they could make accommodate their needs for a few years while also living in a community with walking paths, pools, open grass areas to run, and real gated access. So they finally found a condo that just hit the market. It was only a two bedroom but it had a den that easily could have a door added in to make a third bedroom. They made a strong offer, and slowly invested a little money into it as they could afford it. 8 years later, after they had family help close in the den to become a full third bedroom with closet, update the vanities and refinish the tubs, fresh paint and scrapped the popcorn ceilings, new doors, baseboards, and affordable decor from Target, Home Goods, Wayfair, Amazon, and local thrift stores, the home was more valuable than ever.

After 8 years, the home DOUBLED in value. After costs of sale and loan payoff, they’ll have about $275,000 CASH to put down on a new home in a real house with a backyard for their growing family of 3 kids ready for more backyard space to get dogs and a treehouse. In some parts of the country, that’s an all cash (or really close) deal that can make them debt free! No mortgage!! This is the power of real estate and why agents say it’s better than paying rent. It’s about the same cost but with far more instantaneous benefits as well as long term benefits that can be truly and literally life changing. Money isn’t everything but it’s absolutely essential to long term happiness and success for your family.

This family ultimately decided going without a mortgage, they also have no credit cards or car payments after paying them off entirely too, to live completely without debt or financial obligations in another state. They got a huge chunk of land and bigger home with lots of potential for the future to last beyond their last child’s graduation. This is the powerful truth of letting real estate create your future when your job isn’t.

This same equity payout can be used for a down payment on a bigger home in a local area to make an expensive home way cheaper. They save on PMI too so their budget of affordability rose significantly. Can they afford a $650,000 otherwise? Nope, but with $275,000 down and saving thousands on PMI every year, they can!!

Yeah, a condo can do all that without a raise, a different job, a degree, any other income or investment. Paying a mortgage versus paying rent is the difference of success for most. And it’s about the same price per month.

If you’re finding yourself on a similar path, I can help you make this similar situation work for you that will have a much better 5 and 10 year trajectory. DM @snowplowsanecacti on Instagram, email jenniferlarsonent@yahoo.com, or text Jennifer at 7606256836 to set up a time to talk. You’ve worked too damn hard to only come this far. You deserve more and I think I can get you more!

People down on their luck 🍀 will knock ✊ everyone down who’s trying to work their way up 🔝. I have seen so many times folks write ✍🏻 online how flippers are taking houses 🏘️ for the poor and flipping them so only the rich 🤑 can buy them.

First of all, to flip house from a poverty demographic to a wealthy one ☝️ would be damn near impossible to achieve; especially on a regular basis. Flippers might take a $400k to a $550k but they’re not taking a $300k to a millionaire budget as a way of business 👩‍💼. Flippers need high profit margins to make money 💵 so they have to get a property usually from a lowball offer in a good neighborhood (worst house on the best block strategy; so that’s not a poor area already) and then put an easy $100k into it to sell and net a profit.

How did they get a good deal in a good neighborhood? It needed a lot of work that most people don’t have the time, energy, or money 💰 to do. It might need a new foundation and the structure reinforced which is tens of thousands right there. The plumbing 🪠 might be shot and the electrical brought up 🆙 to code 👩🏼‍💻. That’s thousands too and nothing has been done ✅ to even make it look 👀 good 👍🏻 or profitable to sell. It’s also months of work and stressful for most people so it sat on the market because it had a facade only an investor could love 💗. It needs exterior work like new siding and a roof; plus landscaping for anyone to buy. There’s tens of thousands there too. And still, the interior has not been touched. Inside, the carpet is disgusting and falling apart so it needs to be replaced. The cabinets are in horrible shape and need to go as well. That means the countertop and flooring will be damaged so they have to be replaced now too. There’s tens of thousands more. The house might have termites and termite damage. Tenting to remediate the problem is nearly ten thousand plus the repair work to the structure and drywall and paint to fix. Tens of thousands. You still have bathrooms 🚽 and bedrooms to get too. What about the living room and other areas? Is the pool 🏊‍♀️ in good shape or is it needing resurfacing; or beyond repair? That’s half the cost of the average house nowadays.

Flippers do what most won’t because it takes years to do all this for most people and six figures they don’t have. That’s why flippers take on these projects and get them so cheap. They need so much work no one else wanted to or could do. But remember this: when the homes around you are going up to $650k but yours is only $400k still, you bought it for half that and when you sell, you have at least $200k in CASH 💵 and equity to spend however you want. You can put it down to be able to afford that $650k house or retire somewhere cheaper and have no mortgage 💸 ever again.

Your neighbors spending tens of thousands for pretty kitchens and more functional layouts are not only investing in their futures; they’re helping yours too. For free. They’re blessing you with six figures towards your future if you ever need it and have to sell; or just want to. You didn’t have to lift a hammer 🔨 or pay 💰 a professional. You could be the poorest on the street and still make money 💵 because of them. That’s the beauty of it. They’re not taking things out of your reach, they’re pushing those things closer to you. Run 🏃‍♀️ the numbers. Run 🏃‍♀️ the numbers and see how you make out 💋.

Almost everyone who’s ever bought a house 🏡 has spent money 💰 to change up ⬆️ the look and flow to make it work for them. What’s the difference if a flipper buys a house to renovate it or a neighbor does and sells it later? What’s the difference? Prices go up 🔝 when multiple comps sell high. Flippers can only raise values if they flipped every house 🏠 on the street or your neighbors did too. Renovations aren’t just about looking 👀 pretty.

Things need to be replaced, better function, disaster struck, additions are needed, and maintenance 👩🏼‍🔧 is always required. Guess what happens when a house isn’t well kept over the years and things fixed when they need to be? The house falls into disrepair and most people won’t buy it. Most buyers won’t want it and it either becomes a house for riff raff. It will sit empty until it is destroyed and a builder buys the lot for a new home anyway. Next time you see your neighbor or a flipper making over a house, thank them. Thank them for giving you free money you don’t have to work for; because that’s what they’re doing. If life ever gets bad and you have to move or you pass and your family takes over that house, there will probably be six figures in extra income you didn’t have to do a thing for that is now yours for anything at all.

If you need to downsize, go to a home, move with your kids or somewhere else for health reasons, that money will help you and your family through. If you leave it behind for your children 👧, they will have it for college, student 👩‍🎓 loans, medical 🏥 bills 💸, or just a good future because your neighbors and some investors like 👍🏻 beautiful homes and functional living. You have an emergency 🚨 fund built into the property you reside because someone else cares about the home 🏡 they raise their family in and want to enjoy ☺️. Flippers and renovations build dreams. They don’t hurt anyone. They give wealth to all. All.

Higher rates do not necessarily mean slower economic activity. In fact, as rates and inflation have cooled, more buyers who were constantly outbid the last two years are now able to more easily afford a home today at 6% with an FHA loan because now their offers can compete. No more offers with huge down payments and going tens of thousands over ask, this market is a level playing field that is actually more affordable to them than it was last year and the year prior.

Also, keep in mind that summers are a prominent time for families to purchase homes because it’s the least stressful time of year. Most sports are over, school ends, and vacation time is being cashed in. Without crazy school schedules and homework, practice and games, etc, parents divert that time to finding what will work for their growing family that might be growing with teenagers, new additions, wanting a bigger yard, needing safer neighborhoods, etc.

For other buyers the summer months are just more enjoyable to house hunt because the weather is beautiful and the big patio and pool deck they’ve been wanting for years is now affordable to them and prime time to enjoy. Millions are still needing to make life changes that will involve different real estate, or first time purchases, and thus means great competition for sellers to make a higher return on their sale. I’m even selling my own home this month!

I’ll talk more on this at a later date but for now I wanted to give you a few snapshots of what seller financing is and how to structure it. Please do your own research though in addition and for goodness sake, use a real estate attorney to draft the contract!! Please don’t skip this. It could save your butt from financial ruin.

Tomorrow begins week 4 and here’s where we’re starting from this week:

For week 4, I am beginning today with shelf install in the niche where the medicine cabinet was removed and on the other side (not shown).

For the office, it just needs to be organized and staged. I have some packing to do with the stuff in the photos to take to our storage unit tomorrow.

For the main bedroom, I need to add nicer bedding and get some decor. I’d also like to get the new fan installed, the cords hidden, the entertainment center cleaned off and staged, and everything cleaned together.

From investopedia.com

Remember that some of these states are very political and may not align with your views. If they do, great; if they don’t, consider the others on the list. Do your research on issues important most to you. For those not interested in states with strong political inclinations like me, New Hampshire would be my pick! Not crowded and rarely in the news for anything!

It’s heating up and so many people want to get back to their January goals so here is the beginner workout I followed when I started doing weights to help me build muscle. I know I talk about real estate usually and home improvement but I figured I would share for anyone needing to get back in shape. I have thyroid issues that are hereditary so it’s a part of my life to keep moving and many are in the same situation.

This week we finished week 2 of the One Room Challenge and mostly it was just cleaning, decluttering, and painting. All of the room was painted and this next week will be doing all of the cutting in along the ceilings and touch ups. That should be finished this weekend. We’re almost done with the ensuite as well so the entire master suite will be painted and ready to decorate after the weekend.

Here is our progress so far. We have outlets, switches, and fans to replace on Monday and Tuesday and Wednesday we hope to begin emptying the rest of the room out to send most to donations.

I will post more angles on next week’s update as we progress and you can actually begin to see the changes taking place. For now, we are working on paint and electrical. Stay tuned!

This time around I am working on the Master Suite of a condo in Palm Desert. The other two bedrooms are about complete but the primary bedroom and en-suite needs a major upgrade.

We’re starting with decluttering everything. Tomorrow we are taking everything to donations, storage, trash, or giving away and painting to begin with a fresh start. Follow along as we have two months to finish this entire home and bedroom project.

Here’s where we’re starting:

The master suite is a connected en-suite and seating/office area that needs a revamp as we finish off this house.

Right now the room is boring, cluttered, void of personality, needs paint, etc so we’re getting started on that this week. Step one and two are decluttering and paint.

Follow along on Instagram at http://www.instagram.com/snowplowsandcacti (formerly Agent of Paradise).