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Category Archives: News

BRRRR?!

Posted on October 10, 2023 by admin


BRRRR, which stands for Buy, Rehab, Rent, Refinance, Repeat, is a popular method for real estate investors to build a portfolio of income-generating properties while also benefiting from long-term equity growth. Here’s a breakdown of each step:

Buy: Investors start by purchasing a distressed or undervalued property typically at a lower cost. The goal is to acquire the property at a price that allows for potential improvements and still makes financial sense.

Rehab: After acquiring the property, investors invest in renovating or rehabilitating it. This includes making necessary repairs and upgrades to improve the property’s condition and, consequently, its value.

Rent: Once the property is in good condition, it’s rented out to generate a steady stream of rental income. The rental income helps cover ongoing expenses like mortgage payments, property management, and maintenance costs.

Refinance: With the property improved and generating rental income, the investor can then refinance the property to pull out a portion of the increased equity. This is typically done through a cash-out refinance loan. By refinancing, the investor can access the accumulated equity in the property in the form of cash.

Repeat: After refinancing and extracting cash, the investor can use that cash to purchase another property or reinvest in the existing property, thus starting the BRRRR cycle again. This strategy allows investors to leverage the equity they’ve built up to acquire additional properties over time.

The key benefits of the BRRRR strategy include building a rental property portfolio, potentially achieving significant appreciation in property values, and recycling capital to continue expanding the investment portfolio. However, it’s important to conduct thorough research, due diligence, and financial analysis for each property to ensure it meets the investment goals and expectations.

Additionally, the BRRRR strategy may involve some risks, such as overleveraging, property market fluctuations, and renovation or construction challenges. It’s crucial for investors to have a clear investment plan, access to financing, and a good understanding of the local real estate market to make informed decisions when implementing the BRRRR strategy.

Posted in News, payson az real estate |

October in Payson: A Month of Memorable Events!

Posted on September 28, 2023 by admin

October’s got it! From Car shows to Payson’s 50th Anniversary Celebration to Aero Fair to a Monster Mash. The month is packed with family fun.

 

 

 

Posted in News |

Make your Home Safer

Posted on September 12, 2023 by admin

Preparing your home for wildfires is essential to reduce the risk of damage and keep you and your family safe during a wildfire event. Here are steps you can take to make your home safer:

Create Defensible Space:

Clear away dead vegetation, leaves, and other flammable materials from your yard, creating a buffer zone around your home.
Trim trees and shrubs to create at least a 30-foot defensible space around your home. This helps slow the spread of the fire and reduces the chances of it reaching your property.
Roof and Eaves:

Use fire-resistant roofing materials like asphalt shingles, metal roofing, or tile. Avoid wood shakes or shingles.
Keep gutters and roofs free of leaves, pine needles, and debris that can easily ignite.
Siding and Exterior Walls:

Use fire-resistant siding materials such as stucco, brick, or cement fiberboard.
Avoid wood or vinyl siding, which can be highly flammable.
Vents and Eaves:

Install ember-resistant vent covers to prevent embers from entering your attic or crawl spaces.
Seal gaps between eaves and roofs to prevent embers from getting inside your home.
Windows and Doors:

Install dual-paned or tempered glass windows, which are less likely to shatter in intense heat.
Use fire-resistant exterior doors with a tight seal.
Decks and Patios:

Build decks and patios with fire-resistant materials, or consider fire-resistant coatings.
Remove flammable vegetation and materials from around these areas.
Chimneys and Spark Arresters:

Install spark arresters on chimneys to prevent embers from escaping.
Keep chimneys and stovepipes clean and in good repair.
Water Sources:

Maintain a well-functioning hose and water supply that can reach all areas of your property.
Consider installing a rooftop sprinkler system that can wet your home and surrounding areas during a wildfire.
Storage and Outbuildings:

Store firewood, propane tanks, and other flammable materials away from your home and in a fire-resistant storage shed.
Keep outbuildings and sheds clear of debris and vegetation.
Emergency Supplies:

Create an emergency kit with essentials like water, non-perishable food, first aid supplies, flashlights, and important documents.
Make sure all family members know the location of this kit and have a designated meeting place.
Evacuation Plan:

Develop and practice a family evacuation plan. Know multiple evacuation routes and have a designated meeting point outside your neighborhood.
Stay informed about local fire conditions and evacuation orders.
Insurance and Documentation:

Review your homeowner’s insurance policy to ensure it covers wildfire damage.
Keep important documents, such as insurance policies, birth certificates, and passports, in a fireproof safe or a safe deposit box.
Community Efforts:

Participate in community fire prevention programs, such as Firewise USA, to collectively reduce wildfire risks in your neighborhood.
Stay Informed:

Monitor local fire and weather conditions, and follow any evacuation orders or recommendations from authorities.
Remember that no preparation can guarantee complete protection from a wildfire, but taking these steps can significantly reduce the risk to your home and increase your chances of staying safe during a wildfire event. Always prioritize safety and be prepared to evacuate if necessary.
FirewiseHowToPrepareYourHomeForWildfires

Posted in News |

It’s Rodeo Week!

Posted on August 15, 2023 by admin

World’s Oldest Continuous Rodeo
Date: August 17th-19th,2023

Start Time: 7pm (8/17-8/18), 1pm & 7pm (8/19)

Location: Payson Event Center

Visit www.paysonprorodeo.com for schedule and Payson AZ fun!

Posted in News, Things to Do Payson AZ |

Tips for hiring a contractor or tradesperson

Posted on August 1, 2023 by admin


Need a contractor for a big job or a tradesperson for something smaller? Here are a few tips to help with your search.

1. Seek Recommendations: Reach out to friends, family, neighbors, and colleagues who have recently renovated their homes. Ask them about their experiences with contractors.
2. Review Online Platforms: Utilize online platforms like Yelp, Angie’s List, or HomeAdvisor to read reviews and ratings from previous customers. Look for contractors with consistent positive feedback, especially regarding their pricing and professionalism.
3. Request Quotes and Compare: Contact multiple contractors and ask for detailed quotes for your specific project. Look for contractors who provide clear and reasonable pricing with explanations behind the costs. Avoid those with shockingly low prices, as it may indicate low-quality work or potential hidden costs.
4. Check References: When you narrow down your list of potential contractors, ask each one for references from previous clients. Contact these references to inquire about their experiences, including whether they would hire the contractor again and what strengths and weaknesses they noticed during the renovation.
5. Verify Licenses and Insurance: Ensure that any contractor you consider hiring is properly licensed and insured. This information can provide an extra layer of security and professionalism.
6. Meet in Person: Schedule meetings with the contractors you are seriously considering. Use this opportunity to discuss your project in detail and gauge their responsiveness, communication skills, and overall professionalism.

Remember that finding the right contractor is crucial for a successful renovation. Taking the time to research, seek recommendations, and compare different options will increase your chances of hiring a reputable contractor who fits your budget and delivers quality work.

Posted in News |

Try Something New

Posted on July 18, 2023 by admin

Just moved to Rim Country? Or maybe you need a new adventure? Here are some ideas for fun things to try in the Payson area.

Play Tourist
From the Zane Grey Cabin and Rim Country Museum to Fossil hunting, fishing or exploring Shoofly Village Ruins, Payson is packed with adventure. See if there is something new for you to try!

Take a food tour
Try a new restaurant. Be adventurous and try a dish you haven’t tried before. Payson’s Saturday morning Farmer’s Market with its many vendors is a good place to start.

Go Geocaching
Treasure hunting and exploring all at once.

Attend a Local Game
Check out the Sports Schedule for Payson High School or Middle School and support your local teams.

Take a step out of your comfort zone and explore something new.

Posted in News |

Arizona’s Hometown 4th of July Celebration

Posted on June 22, 2023 by admin

When:
Family Games @ 1pm
Band: Outside the Line @ 4pm
Fireworks @ 9pm
Where:
Green Valley Park

https://paysonrimcountry.com/4thofjuly/

And don’t forget about the Summer Concert Series! Every Saturday in June and July beginning at 7PM. Bring your lawn chairs or a picnic blanket to enjoy an evening under the stars!
June 24th Concert is Take Cover!

https://www.facebook.com/takecoveraz

Posted in News |

Only Fools and Newcomers

Posted on June 15, 2023 by admin

Monsoon season officially begins on June 15 and runs through Sept. 30.

What is the monsoon outlook for Arizona in 2023? Well maybe only fools and newcomers try to predict the weather here in Arizona but the National Weather Service predicts drier, hotter than normal conditions for Arizona’s 2023 monsoon.

Summer can be one of the best times of the year to visit, play and live in Rim Country. Be sure to keep an eye on the weather during the Monsoon whether you are hiking, biking or road trippin’. Stay cool, stay hydrated, and be informed; Tips for Preventing Heat-Related Illness

 

Posted in News |

Upcoming Events in the Payson Area

Posted on April 13, 2023 by admin

The Weather is fine and it is time to get outside and enjoy. Here are the area events coming up.

Kids Fishing Day
Hosted by Let’s Talk Fishing
Date: April 29th, 2023
Start Time: 8am – 3pm
Location: Green Valley Park

Bicycle Safety Event
Hosted by AZ Health Zone
FREE Family Event
Date: April 29th, 2023
Start Time: 9am – 12pm
Location: Julia Randall Elementary School
https://paysonrimcountry.com/bicycle-safety-event/

Brunch at the Bridge
Hosted by Rim Country Friends of Tonto Natural Bridge State Park
Date: April 30th, 2023
Start Time: 9am – 11am
Location: Tonto Natural Bridge State Park
https://tontonaturalbridge.org/events

Posted in News |

Hot Weather Tips for Pets

Posted on April 11, 2023 by admin

Make sure they always have access to fresh clean water

Ensure there is a shaded space for them to lay around outside

Take them to the vet for a check-up – ensure they are healthy and checked for heartworm, etc

Animals with flatter faces who may have a hard time breathing (pugs, french bulldogs, Persian cats, etc) should always be kept out of the heat in order to ensure they can pant/breathe properly and cool down

Do not leave animals in a parked vehicle outside during high temperatures

Brush and pet your cats regularly or even trim longer coats, shaving them completely reduces their ability to cool down and prevent sunburn

Do not walk outside unless you have protective footwear for your pet

Be mindful of outdoor gatherings, human food can be dangerous for pets and lead to medical problems.

Be especially careful to avoid giving your pets raisins, grapes, onions, chocolate, and products with the sweetener xylitol (this includes some brands of peanut butter!).

Posted in News |
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