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The Benefits of Owning a Multi-unit Residential Income Property

July 30, 2015 by The Sugar Team

Albuquerque-Real-Estate-multi-unit-Residential-IncomeMany people shrink from the possibility of buying a home as an investment and becoming a landlord.  They have visions of money-grubbing landlords showing up at the front door to collect rent—baseball bat in hand—and proceeding to get in a screaming match (or worse!) with the tenants.  Or there’s the fear of receiving the late night call that all the pipes have burst and the plumber needs to be dispatched right away, being paid double time for his work.  Multiply that fear exponentially by the number of units managed, and you get an idea of the public’s perception of owning multi-unit residential income property.  However, this view could not be further from the truth.  When done right the purchase of multi-unit residential income properties truly can be satisfying and an excellent way to invest your money.

Many savvy investors see multi-unit residential income property as a way of funding their Benefits-Income-Property-Albuquerque-Real-Estateretirement for the long term*.  They make sure that the rent covers the monthly mortgage payment for the short -term, and understand that their passive income is going to increase as rent increases while their monthly mortgage payment remains fixed.

There also are many tax perks* associated with owning investment property.  Everything from repairs, pest control, supplies, cleaning, utility expenses, property management costs and insurance premiums can all be written off in the maintenance of investment property.

Once you have decided to invest in income property you will find that there are many added benefits to buying a multi-unit dwelling.  First of all, less money is at risk if there is a vacancy.  For example, in the case of an 8-plex if there is a 10% vacancy, you are only losing 12.5% of your rental income.  Compare that to a single family home where a vacancy would mean losing all rental income.  Second, it is logistically easier to collect multiple rents from one location, rather than from various locations.  Third, as there are always transaction fees associated with buying a property such as closing costs, inspection fees and title fees, it is more cost-effective to buy a multi-unit property because the transaction fees are comparable to the purchase of a single-family dwelling.  Finally, because there is typically less competition for multi-units versus single-family homes, frequently you can get a smoking deal.

512-516-Madeira-SE-Albuquerque-Real-Estate-Multi-unit-Investment-PropertyFor all of these listed benefits of owning a multi-unit investment property The Sugar Team is proud to be offering a solid investment opportunity located at 512 and 516 Madeira Drive SE.  They are two four-plexes being sold together (8 units total) for $370,000.  The one owner has lovingly cared for both properties for over 17 years and it shows.  The units are all separately metered for gas and electric (the tenants pay their own usage) and at the end of the buildings there is a larger ”master’s unit.”  It has been a great income producer and has potential for more.  The tenants love living at Madeira (one just moved out after 17 years!) which you can appreciate by admiring the central courtyard, refrigerator in every unit and convenient proximity to Walmart.

*Like any major investment, it’s always a good idea to consult your financial adviser and CPA first.

Filed Under: Albuquerque Homes For Sale, Albuquerque Real Estate, Investment Properties, Multi-unit Residential Income Property, Real Estate, Uncategorized Tagged With: 512 Madeira SE, 516 Madeira SE, Albuquerque Homes for Sale, Albuquerque Real Estate, Investment Properties

2912 Madeira DR NE Albuquerque, NM 87110–Uptown Mossman for Sale

July 22, 2013 by The Sugar Team

2912-Madeira-DR-NE-Albuquerque-Real-EstateOpen the front door & delight in this Mossman home in the convenient Uptown area. The living room provides the social magnet, drawing in natural light from its wall of windows, wood-burning fireplace, vaulted T & G ceiling & hardwood floors. Nary a carpet in sight, the bedrooms are nice & private & the spacious, shaded backyard are perfect for that garden party or Summer BBQ. The super-secret bonus of this home?…The HUGE hybrid room perfect for laundry, storage or your craft projects!

2912 Madeira DR NE Fabulous Features:2912-Madeira-DR-NE-Albuquerque-Real-Estate

  • 3 Bedroooms / 1 Bathroom
  • 1250 Square Feet
  • Hardwood Floors with no carpets
  • Mossman construction
  • Wood-burning fireplace
  • HUGE hybrid room that can be used as a laundry room, storage room or craft room
  • Spacious backyard

Watch the Virtual Tour or contact The Sugar Team to set up a private showing!

Play VisualTour

Filed Under: Albuquerque Homes For Sale, Albuquerque Real Estate, Real Estate, Sugar Team Tagged With: 2912 Madeira NE, Albuquerque Homes for Sale, Albuquerque Real Estate, Sugar Team

Staging a Home to Sell: Sage Recommendations by Christopher Interiors

August 20, 2012 by The Sugar Team

Portrait of Christopher Tracy of Christopher Interiors with his doggie Peanut.The Sugar Team recently sat down with professional designer and stager Christopher Tracy of Christopher Interiors to talk about the world of interior design.  In the interview Christopher discusses how he got his start in design, what’s popular right now and general staging tips for those selling their home.

Christopher Tracy is no newbie to the design world.  He studied at University of Arizona and Cal State Long Beach, both in fine arts, and received a Fine Art degree from University of New Mexico and an Interior Design degree from Santa Fe Community College.

Christopher’s extensive portfolio speaks for itself.  He holds more than 20-years of experience in remodels and renovations, 10-years in residential interior design and seven years in professional staging.  His many happy clients include Century 21 Unica, Flawless Skin Spa, Easy Give, UNM Santa Fe Dean’s Office and Santa Tierra Apartments, Santa Fe.

The Sugar Team:  What sparked your interest in interior design?

Christopher Interiors:  When I was young, I would get bored easily and my mother would make me move our living room furniture around.  So, for 10 years or so, I would recreate different looks and placement of our very humble furniture.  In actuality, my mom was training me to become a designer without me really knowing.  As I tried to figure out what to do with my life, my friends and family encouraged me to decorate and do small design jobs. Before I knew it, I naturally fell into interior design.  I love and understand all interior design styles and can recreate or reinvent any style.  It truly is my calling.

ST:  How would you describe your style?

Christopher Interiors Bathroom RemodelCI:  My design aesthetic is really based on what my clients are looking for or comfortable with.  I see myself as a tool which my clients can use to enrich their own styles.  Great listening skills are the best aspect I bring to all my clients and projects.  It’s really not about what my idea of what is best for my client’s spaces, but using my design skills to enhance my client’s spaces in their vision.  Gentle hand holding and patience through what can be a difficult process is one of my best skills.

ST:  What styles are trending?

CI:  Current trends now are modern and retro styles mixed with traditional accents or the reverse.  Clean, crisp colors in neutrals are still a standard.  We are also seeing bold colors in furniture fabrics coming back.  Plus, the eighties influences are knocking!  Really, individual styles and how you see your space is in.  Just ask a professional before taking a wall down.  When in doubt, ask Christopher!!

ST:  What is one designer or artist that inspires you?

CI:  I really don’t have one interior designer who inspires me.  I am inspired by my clients, their environment and life experiences.  I will sometimes refer to a certain look created by another designer, but only to explain this look to my clients.  Because my clients bring their own life to the space, I just bring it all together with that extra touch and attention to detail.

ST:  What staging recommendations do you have for someone selling their house?

Christopher Interiors Home StagingCI:  First, talk to your Realtor and have him or her walk through the house with you.  What your Realtor is going to do is base your priorities on what would be best to sell the house.  Then, the next step would be to bring in someone like me to help you understand what those priorities mean.  For instance, de-cluttering.  De-cluttering is a big priority because prospective buyers cannot see the house through your things.  It’s important to create in your mind that you are actually moving out of this house.  Once you come to that realization then you can easily start packing things and really make the space as clean, crisp and simple as possible so that the prospective buyers can see all aspects—good and bad—of the house.  And then they can make a determination.  If not, then what happens is the prospective buyer is more interested in your personal items and not in the house.  The priority is to sell the house.

The next thing would be to paint if possible.  If there are some minor fixes, or if you need to refresh the space by painting or taking those curtains down that have been up for ten years, go ahead and do it!  The cleaner the space, the better.  It’s not about making a beautiful, cute house; it’s about making it presentable to the public.

ST:  When you talk about paint are you referring to red accent walls or maybe taupes?

CI:  I recommend that everyone who is into accent walls or bright colors as accents to remove them to bring the house down to a simple palette or asChristopher Interiors Home Staging they say, “real estate beige.”  That way the prospective buyers can start to see it as a neutral space versus, “What do I do with that red wall?  I don’t know what to do with that.”  If you have the money and you have the time, I recommend you have the house painted or you paint it yourself and just do those minor fixes.

I think the next thing to consider is curb appeal.  Curb appeal is the first thing people see when they drive up to the house.  If you have a dead tree in the front yard and the grass is dead the prospective buyer is already going to come in judging the house.  If you cut down or trim the trees and do the best you can do to spruce up the front of the house it’s only going to create a more positive influence on the buyer.

I think the next thing you can do is clean.  Clean, clean, clean the space! Once you’ve gotten to the point where you’ve de-cluttered, you’ve worked on the yard and painted, go ahead and scrub the house top to bottom.  Because if not, and someone sees that there are cobwebs on the ceiling, then they are going to start looking for other things.  They are going to start creating a judgment: “Oh this person who lived here never really cleaned the house.  What else am I going to expect?”  We’re just trying to eliminate as much judgment as possible.

Christopher Tracy sure gives a lot of sage advice!  Because he is such an authority in his field, The Sugar Team teams up with Christopher Interiors regularly, whether it be in the remodeling of a home or preparing it to sell.  As just one of the many listing services that The Sugar Team provides to its Sellers, we provide one hour of complimentary Christopher Interiors consulting advice in the staging of your home.  Contact us today to get started.  It truly makes a difference!

Filed Under: Real Estate, Staging, Sugar Team Tagged With: Christopher Interiors, Christopher Tracy, Real Estate, Staging, Sugar Team

How does an Open House Help Sell my Home?

February 15, 2012 by The Sugar Team

Once sellers put their home on the market they are bombarded with advice from…everybody and everywhere.  Each seller has at least one friend

Albuquerque Open Houses -- Sugar Team Doing the Most to Sell Your Home
Albuquerque Open Houses

or relative that practiced real estate a million years ago who completed a grand total of two transactions, but claims to be an absolute authority on the sale of your home.  Then, of course, there are other agents who lost the opportunity to sell your home and are looking for any opportunity to discredit the competition.  Finally, there’s the Internet which as we all know, never lies!  And each one of these sources has a different opinion about the importance of open houses.

You may hear the statement that “open houses don’t help to sell your home,” and only assist the agent-host pick up new buyers.  Granted, open houses can  help the agent build rapport with new customers, especially if the home doesn’t meet the needs of the customer.  In that case, the agent would help the customer find something else based on her search criteria.  However, the reality is open houses do help in the sale of your home, because it maximizes exposure locally, and if done correctly, can be quite successful.  In fact, we at The Sugar Team have done quite well selling the homes we hold open.  We have sold at least four Albuquerque homes directly from open houses, and have written multiple offers as well.

Nonetheless, not every home is a good candidate to be held open.  For example, homes that are far removed with few to no neighbors, no drive-by or pedestrian traffic, or are located in gated communities can have a very poor turn-out.  The exception to this last example would be if your agent held your home open in a gated community in conjunction with other homes (and agents) in the same gated community (i.e. an open house blitz).  And keep in mind that it doesn’t matter if the other homes were being sold by other brokerages.  We all are working together to ultimately sell all our inventory and provide a choice to the buyer.

Sellers also play a crucial role especially when they make the following preparations prior to an open house:

  • Remove all clutter both inside and out.
  • Open all drapes and light lamps including those in closets, the basement or attic, creating an environment as light, cheerful and calm as possible.
  • Make the beds and put away clothes and toys.
  • Turn the blinds so slats are uniformly open.
  • Put out a clean hand towel, fresh soap and clean soap dish.
  • Put all toilet seats down.
  • Put away all dishes and discreetly conceal countertop articles.
  • Consider setting the table with fine china and linen.
  • Straighten pictures on walls and wipe all tabletops.
  • Fluff and arrange couch cushions and throw pillows.
  • Dispose of newspaper and drink containers.
  • For those with cats, clean the litter box and replenish with fresh litter.
  • Light/turn-on fireplace in the winter.
  • If available, turn on any inside/outside sound systems to a light jazz station at a minimal volume.
  • Don’t cook anything in the kitchen at least one hour prior to the open house (unless it’s fresh-baked cookies or bread!).
  • Notify your neighbors of scheduled open house days.  You never know if they have friends or family that are in the market for a home.
  • And most importantly…. LEAVE (that includes the dog)!!!  Generally, buyers don’t feel recepetive viewing a home that has the Seller present and feel uncomfortable voicing their objections which is an integral part of the buying process.

The Sugar Team also has its own key role for an open house:

  • Announce the open house throughout the Internet on all Webpages, including but not limited to: TheSugarTeam.com, Century21.com, Zillow, Trulia, Realtor.com, Craigslist, facebook, the Multiple Listing Service (MLS), among others…
  • Purchase a classifed ad to go in the Albuquerque newspaper for that day.
  • Prepare full-color flyers/brochures (take-aways) to give to all open house guests.
  • If appropriate, walk the neighborhood a few days prior to the open house and hand-deliver invitations to all the neighbors (because who doesn’t like to be invited?!).
  • Put out open house signs in the most visible locations, directing drivers and pedestrians to the BIG EVENT!
  • Follow-up tenaciously with each and everyone of the open guests until we obtain an offer.

(Whew!)

As you can probably surmise, The Sugar Team takes open houses very seriously, since we feel that they are a key component to getting your home sold as quickly and as painlessly as possible.  So, what are you waiting for… why don’t you try us out?

Other Useful Links

  • The Sugar Team
  • Search Albuquerque Homes on the MLS
  • Search Albuquerque Open Houses
  • Seller Marketing Tools
  • Order a Free Comparative Market Analysis to Determine the Value of your Own Home

Filed Under: Albuquerque Real Estate, Real Estate, Sugar Team

How Important is Photography in Selling my Home?

February 9, 2012 by The Sugar Team

We just can’t stress enough how important photography is for the sale of your home.  I comb Albuquerque’s Multiple Listing Service (MLS) on a daily basis and see time in and time out the many examples of what NOT to do when photographing a property.  Take the case of the real estate agent who doesn’t know how to remove the date-stamp from his photos.  Now, what does the date have to do with the house or its features (provided that date is even correct)?  Not only is it an unnecessary distraction, it indicates to the potential Buyer theoretically how long the listing has been festering on the market.  Or what about the agent who doesn’t even rotate the photos so that they are right-side-up?!  However, the biggest problem I encounter is when agents don’t take full advantage of being able to upload a maximum of 25 photos in Albuquerque’s MLS.  Even if the home is a fixer-upper, Buyers need to know what they’re “getting into,” inside and out.  We really need to be respectful of people’s time and multiple photos serve the purpose of being both an incredible marketing tool as well as just being informative.

We at The Sugar Team appreciate the importance of superb images in the sale of your home and therefore, take photography very seriously.  For Glenwoood Hills Albuquerque Real Estate Photoall our listings we hire professional photographer Steve Sugar to capture your home in its best light.  Steve Sugar is no stranger to commercial photography.  He has over 30 years of experience, working as Design Director for the Sharper Image as well as working for well-known clients such as Van Heusen, Gallo, Revlon, Chevron and Mrs. Fields Cookies among others.  When he photographs your home he illuminates the inside “like a Christmas tree” and waits until the sun is just about to set.  This trademark effect (the glow-shot) portrays your home in its best light, enticing the Buyer to go inside and “see more.”  I invite you to decide for yourself if there’s any doubt whether professional photography makes the difference.

Kachina Hills Albuquerque Sugar Team Real EstateThat difference can be felt in all of The Sugar Team’s tantalizing marketing materials.  Everywhere we market your home we use professional photography to maximize your home’s exposure.  Whether it be on our full-color flyers and brochures, the MLS, Virtual Tours and anywhere in-between on the Internet, you will see your home captured in its best light and professionally photographed.  This is crucial to attracting what we all are ultimately expecting…… THE OFFER!

Feel free to contact The Sugar Team (505) 850-9977 today to discover what other marketing tools we use to get your home sold quickly…. and for top dollar!  We’ll design a marketing plan specifically around your needs.

Useful Links:North Valley Albuquerque Kitchen

Steve Sugar Photography

The Sugar Team Website

Search the MLS

The Sugar Team–Virtual Tours

Albuquerque-Real-Estate-Master-Bathroom

Filed Under: Albuquerque Real Estate, Real Estate, Steve Sugar, Sugar Team

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