Downtown Prescott Bungalow

Wonderful Bungalow style homes in downtown Prescott AZ.  Homes was built in 1900 and has 1330 sqft, 2 bedroom and 1 bath, plus an in-law suite. Walking distance to Yavapai College, the Square, schools, parks, and any shopping you could want.   Newer roof and deck, gated parking area, and freshly painted.  Perfect move in ready home.  Please call Jason Maneely at 928-925-6050 for any questions.

I Told You So!!

Back in December,  I wrote about a investment in Prescott Valley Az(http://prescottrealestateinvestmentsandsales.blogspot.com/2012/04/i-told-you-so.html),  and told everybody how good it was and that they should pick it up for their investment portfolio.  Well, I watched it for a couple of weeks and nobody touched this place.  Yes, it was pretty ugly, but nothing a little paint and spackle couldn't fix.  It had great bones and a great post modern look, nothing else like it in the area.  So I took my own advice and bought the place.  It close on February 10th and I started fixing it up immediately.  I usually like to do these projects myself, but my real estate sale career was flourishing and I didn't have the time to do the fixes the duplex needed.   I hired a friend that had experience managing apartments and knew how to get the work done and keep the costs down.  It's finally finished and looks great.  It took about $3000 more than I expected due to some electrical and plumbing issue.  It has total investment is approx $61K.  The rents are $500 each for a total of $1000/month.  The gross CAP rate is 16.39%.  My expenses are low because I only pay water and trash, no debt servicing because it was bought with cash.  Insurance($305) and property taxes($907) are a total of $1212/year.  My net CAP rate is 14.18%.  Not to bad if I do say so myself.  Yes I am here to pat myself on the back, but more importantly to make YOU, the investor, think differently about property.  It may not always be the prettiest or newest, but with a little creative thinking and some elbow grease, you can have a great property and generate a fantastic income.  I have more properties that are similar to this.  If you want to see them, give me a call soon because Prescott Valley Investments are going fast!!

Here are some before and after pictures.


Exterior Before,  notice the boarded up holes in the wall!!

After, painted dark olive with black trim.  I wasn't really confident about the colors, but I've learned to trust my designer, aka, my wife.


Before - old shag carpet and desperate need of paint

After with new flooring and fresh paint, smells alot better too.  Give it another month and those roses outisde will be blooming looking and smelling great.





Jason Maneely, SFR              
Keller Williams Check Realty
The Stephanie Woods Team
928-925-6050
jpmaneely@kw.com

Investment of the Week(1/30/12)

Here we have a great deal for Prescott.  It's not very often that a apartment at this price comes around in Prescott.  Even in Prescott Valley, you'd have a hard time finding a duplex for this price.  This is a fourplex that in super close to downtown, shopping, parks.  This is a foreclosure, but is in very good condition.  If you do the math, this apartment has a 11.5% CAP before debt servicing.  If you include debt payment with a 25% down payment and a 5% interest, the payment is approx $531.  The would give you a net cap rate of almost 8%, which is great for a Prescott apartment.  As for the details, it is 2771sqft built in 1996 on 0.21 acres.  Each apartment is 2 bedrooms and 1 bath and rent for $550/month


If this is a apartment that your interested in, please give me a call, I would enjoy helping you increase your real estate portfolio.

Jason Maneely, SFR              
Keller Williams Check Realty
The Stephanie Woods Team
928-925-6050
jpmaneely@kw.com

Luxury House - How the other half lives!!

Occasionally, I like to look at houses that there is no way I can afford.  They are most peoples dream homes, the house when all the kids are gone and I've made my fortune house.  Well, if I continue to live in Prescott, this would be high on the list, maybe first.  It's great because it is located close to everything.  Someday I would like to own a big ranch, but if you do that you have to live so far from all the restaurants and other entertainment.  This place is 10/15 minutes from downtown Prescott.  Also, its got a infinity edge pool that over looks Prescott.  I could only imagine swimming in that at night with all the downtown lights, awesome.  I could go on and on about this estate, check it out and make your own decision.  What do you like, let me know, and if I can pre-qualify you for the house, we'll go look at it!!  If there is something else that you want to sell or buy, let me know and I can help you with that as well.  You can call or text at 928-925-6050 or email me at jpmaneely@kw.com.


Hassaympa Stunner

5 Reasons to Use a Professional Realtor

I do agree, as you think I would!! This is a great article why going about selling or buying real estate by yourself is not in your best interest. You have chosen your field and are by all accounts, are very good. I have chosen my field, which I very much enjoy, and have excelled. Don't choose an amateur do guide you through what could be very difficult waters. The average real estate practitioners don't have the everyday experience to keep you out of legal trouble. Myself, my team, and Keller Williams has placed an emphasis on our education to make us the best and most professional Realtors in the field. Take a look and hopefully you'll agree.

http://www.dcourier.com/main.asp?SectionID=74&SubSectionID=107&ArticleID=97210

Great New Ad Running in USA Today

For those of you sitting on the fence, here is a great ad that ran in USA Today on July 14th. I've told everyone who will listen that this is the best time to buy. It is possible that the prices may go down, but even if it is another couple of percent, most people will keep the equity in there purchases as long as you were able to put the normal 20-25% down. Any with the low interest rates and VA, FHA, and other loans allowing owner occupants to put down at little as 3%, there no reason for people to be renting.

Check it out:

http://www.realogy.com/documents/USATodayadFINAL07132011.pdf