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Apache is functioning normally

I have owned rental properties for more than 13 years and being a landlord was one of the best choices I ever made but it is not easy. There are many aspects to owning rentals from finding good properties, to financing them, to managing them. Many people may think the hardest part of being a landlord is unclogging toilets at 2 am but I have never done that and never plan to. There is a lot that goes into owning rentals but you don’t have to do all of it yourself and owning good rentals will give you the income to pay for help. Good rentals can also build a tremendous amount of wealth!

How hard is it to become a landlord?

Being a landlord means many things and how hard it is depends on what tasks that landlord chooses to do. Sometimes landlords do all or most of the work on the properties they own, and sometimes they do very little if any work on them. The hardest part of becoming a landlord for most people is finding good properties and finding the money or financing to buy them. Not every property will make a good rental, in fact, many properties will lose money if you buy them at retail value and use an investment loan for the financing.

Here are the basic steps to becoming a successful landlord, not just owning rentals that may or may not make any money.

  • Find a market or type of rental property that makes money. Many single-family homes will not make any money as rentals. It is important to choose a market with good rent-to-value ratios. You may also consider multifamily or commercial rentals which can sometimes have better numbers but may take more work, have more risk, or need more management.
  • Get the money to buy a rental. Most landlords will use loans to buy properties but even with loans the down payments are usually at least 20 percent of the value of the property. A $200,000 property could require $50,000 or more in cash to buy with a loan after the down payment and closing costs.
  • Repair and maintain the property. Most properties are not ready to rent right away. You may need to make repairs and you will for sure have to maintain the property while you own it. You can do this work yourself or hire it out.
  • Find tenants for the rental property. Once the home is ready to rent you will need to find someone who wants to rent it. The home will have to be marketed, tenants screened, leases created, and money collected. The landlord can do this themselves or hire a property manager to do the work.
  • Keep tabs on the property and tenants. After finding tenants the work is not done. Landlords will have to check on the property, handle maintenance requests, and possibly handle late rent, hostile tenants, or even evictions. Again, the landlord can do this or have a property manager handle these tasks.

Why spend all this money and do all this work to buy rentals?

A lot of people are probably thinking to themselves why do I want to do all of this to own a few rentals? A few rentals may not make you rich, but once you buy a few, it becomes easier to scale and buy more. If you can buy 10 or more rentals it can provide you with a healthy income and a sizeable net worth that will increase with time. My rentals have made me millions of dollars in less than ten years thanks to getting great deals, market appreciation, cash flow, and the tax advantages that come with them.

Why do some landlords work harder than others?

As you can see there is a lot of work that is needed to be done when you own rental properties. Some landlords will try to do almost all of the work themselves, even the repairs. Other landlords will hire out as much of the work as they can. However, there is still work to be done by landlords, and finding and financing properties is often the hardest part of being a landlord.

Doing the work yourself can save money but it also costs you time and often peace of mind. Working on houses is hard and dealing with stressful tenant situations is also hard. Many people underestimate just how much work is involved and get out of the business as fast as they can. However, owning rentals can be very rewarding financially and spiritually knowing you are providing housing or a place to do business.

How much work should the average landlord expect to do?

When I bought my first rentals I managed them myself with the help of my wife but I never did any repairs to them. I hired out all of the maintenance and remodeling work to my contractors since I also flipped houses. Obviously, I had a huge advantage over many new investors since I already had people who could do the work. If I were to start over again not knowing anyone in the business here is what I would do. This strategy would also apply to me buying properties out of state in an area I have no contacts in.

  • I would decide what kind of properties to buy and where to buy them. This can take a lot of time and work, especially if you are new to real estate. My book Build a Rental Property Empire goes over everything you need to know if you are brand new. It can take months before you have learned enough to pull the trigger. For some, it may take longer but that is okay as this is a big investment.
  • I would work to find the right financing which can also take a lot of time. Finding local banks where you want to buy is often the best option but there are many other ways to get the money for rentals. You also may need to be saving money or finding a partner if needed. A lot of the time landlords spend on the business is preparing to buy properties.
  • Once you know where to buy and have the financing lined up, I would have an agent help you find properties but I would not rely on them to do all the work. There are many ways to find deals and getting a great deal is the fastest way to build wealth in real estate. If you had to spend time doing anything, I would learn how to get great deals.
  • Before you buy a property you should have some idea of who will be managing it and repairing it. If you choose to use a property manager they may also have contacts or in-house people who can repair and maintain the property. If I were buying properties out of my area this is the route I would take. Take your time finding the right company and don’t pick the first one that says yes!
  • Once you own the property I would have someone else manage it but you will need to check on it once in a while to make sure the people you hire are doing their job. If the property is far away, hire a third party to check on it for you. You don’t need to be the one taking calls from tenants or renting the property, or collecting rent. The property will also need to have accounting set up and tax information collected which property managers can also handle.
  • You can scale with rentals by refinancing properties or selling them. I think the landlord should be actively looking at their loans, and returns every year on the properties they own. A lot of landlords have trouble scaling but a refinance or selling properties or using a 1031 exchange can increase the portfolio and ROI.

I think most of the work a landlord does should be in the beginning finding and buying deals. If you want to scale and make the most of your time, leave the management and maintenance to someone else. Focus on the most important tasks and remember to look at the big picture.

Why do I have my property management in-house?

I just told people I think they should hire a property manager but I don’t do that myself, why? I own a real estate brokerage (Blue Steel Real Estate) and my staff manage my properties. I am not the one showing properties (unless they are big commercial properties), and I am not collecting rent, or taking any calls from tenants. I have my own property management company in-house that can handle that for me and I focus on the big picture.

https://www.youtube.com/watch?v=-h7tk2ovxps

Conclusion

Buying rentals has made me many millions of dollars but it is not easy and it takes work. If landlords focus on the right work it can be a great business. Once you learn how to buy the first properties, the next purchases get much easier. If you are willing to put in the work to buy the right properties and hire the right people to take care of them it is a wonderful business/investment.

Build a Rental Property Empire

Categories Real Estate

Source: investfourmore.com

Apache is functioning normally

Apache is functioning normally

“Ladies and gentlemen, unfortunately, due to the weather and necessary routing, we are currently having a weight and balance issue and are looking for three volunteers with flexible travel plans to come to see me at the front of the plane and take a later flight to New York in exchange for $1,000 in future United credit each.”

The gate attendant who had stepped onto the delayed plane with this “bad news” had barely finished saying those words before my seatbelt was unbuckled and I was shooting toward the front of the plane.

I was flying with my two kids, and that $3,000 credit was the right price for the three of us to get to New York City a few hours later that night.

And as promised, once we grabbed our carry-on bags and quickly hustled off the plane, United quickly processed each of our flight credits (good for the next 12 months) at the gate, booked us on the next flight to New York and threw in $20 in vouchers for each of us for dinner at the airport while we waited for the next flight.

This wasn’t a fluke.

On our flight home from LaGuardia Airport two days later, the gate agent again needed volunteers to take a later flight back to Houston.

This time, the flight was oversold. The flight credit offer started at $500 per person and increased to $750 when there weren’t takers at the lower amount. Unfortunately, we couldn’t participate this time as the next available flight wasn’t until the next day and airspace in the Northeast was shaping up to be a hot mess.

However, this trend of too-full flights and opportunities to earn flight credit by being flexible will likely play out at gates across the country for the next few hot, busy travel months.

Related: Best credit cards for built-in travel protections

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There will be opportunities to get flight credit to take a later flight

It’s no secret that summer is a busy travel season, with weekends, such as the one we were traveling, ranking as some of the busiest days of the year to fly.

So with full flights (some with more tickets sold to passengers than there are seats on the plane) and weather that can necessitate flying with fewer passengers than the maximum number of seats on the plane, the situations that played out on our recent flights will happen again numerous times this summer, especially during the busiest travel days.

ZACH GRIFF/THE POINTS GUY

Airlines prefer to find volunteers rather than bump passengers involuntarily

Overbooking flights and denying boarding to passengers as a result is not illegal, but it doesn’t win airlines many points in the court of public opinion.

So, when more people show up for the flight than anticipated, or if the airline can’t use as many seats on the plane as it had planned for whatever reason, airlines typically start asking for volunteers who are willing to give up their seats, usually in exchange for something.

While involuntarily bumping passengers isn’t illegal, certain monetary amounts must be awarded per U.S. Department of Transportation rules — assuming your situation falls into the prescribed definition, which does have caveats.

If you are involuntarily denied boarding, and the airline can’t get you to your destination within an hour of the original schedule, you are entitled to 200% of your one-way fare or $775, whichever is lower. If the airline can’t get you there within two hours (four if it’s an international flight), that amount increases to 400% of your one-way fare or $1,550, whichever is lower.

However, those rules don’t apply if the airline can find volunteers to willingly give up their seats, as we did.

There are no rules for what is required to be awarded to volunteers, so the only real threshold is what passengers are willing to raise their hands and accept.

A good sign your flight might be heading for an oversold situation is if, when you check in for your flight, there’s a screen that asks if you might be willing to volunteer to take a later flight. It’s possible the airline won’t ultimately need volunteers on that flight, but it might.

LU SHAOJI/GETTY IMAGES

Things to know about getting voluntary bump compensation

Every situation is unique and different airlines handle these things in their own ways, but many options are on the table when the airline needs your seat.

The more it needs it, the more likely you will get a yes to your requests. Here are some things to remember if you volunteer to be bumped to another flight in exchange for compensation.

Be ready

Make sure you’re physically close to the gate and/or ready to quickly step up if you want to volunteer when the airline needs passengers to take bump compensation in exchange for a future flight. Typically, the order in which you line up to see the gate agent (or at the front of the plane, in my case) to volunteer is the order they will go in. You can also go up and ask the gate agent when you first arrive at the gate and let them know you’re willing to help out if they need your seat if you think the flight may be (too) full.

Do a little homework

Research other available flights if you think your airline may need volunteers to take other flights so you’ll have a good idea of what’s possible. Some airlines will rebook you on other airlines while others will not, but check everything to see what might work best.

Get confirmation

Be certain about when the next confirmed seat to your destination is available. Don’t accept standby tickets or say yes to being a volunteer until you are certain you have a confirmed seat to get you where you want to be by the time you want to be there.

Know what’s offered

Have a clear understanding of what is being offered. It’s probably not cash but is most likely future flight credit or potentially a gift card. For example, Delta Air Lines has a program where you can choose the retailer for your gift card. However, understand the type of credit and any restrictions before you say yes.

Negotiate

The amount of flight credit is negotiable. It’s normal for the offer to increase over time if there aren’t takers at the lower amounts. For example, if there are no nibbles at $250 in credit, it may go to $500, etc. You can also politely ask if more is available, which there may or may not be based on whether the airline can find volunteers at the amounts it first offers.

Offers may increase

If the amount the airline offers increases to get more volunteers, everyone who volunteers may get that higher amount. This isn’t guaranteed and may change as more airlines experiment with using a reverse bidding-type process in their apps for oversold situations. However, in the traditional way, where everyone is at the gate until the airline gets enough volunteers, it’s still likely all of them will get the highest amount.

Try for first class

You can ask for first-class seats on your new flight. Again, there are no guarantees this will be a yes, but if they can accommodate you in first class on another flight, they might. In our case, we lost two of our three upgrades on our new flight as it was simply already full, but if we wanted to wait for a flight with first-class seats, I imagine we could have.

Ask for extras

It’s also fair to ask for meal vouchers, a hotel room (if requiring an overnight stay) and cab rides to and from the hotel or to an alternate airport if required.

Be kind

As always, be nice. A flight that’s too full is likely a stressful situation for the agents who are working the flight. The nicer and more understanding you are, the better for all involved.

Save your voucher

Take photos of your voucher and keep it in a safe space so you don’t do all of that for nothing!

ZACH GRIFF/THE POINTS GUY

Related: Can it be too hot to safely fly?

Bottom line

It’s busy, it’s hot, and if you fly enough this summer, you just might get the chance to make a split-second decision like we did and give up your seats on the flight in exchange for future flight credit — and sometimes even more.

We got to New York City about two hours later than originally planned and, in exchange, have $3,000 to spend on United flights for the next 12 months — and I’ll be keeping my ears open for a chance to do that again.

Related:

Source: thepointsguy.com

Apache is functioning normally

Apache is functioning normally

The Offer

Direct link to offer (various banks offer this)

  • Elan Financial is now offering a Visa Infinite Reserve Rewards+ Card. Card comes with a 50,000 point bonus after $4,500 in spend within the first 90 days

Card Details

  • $390 annual fee
  • $100 travel credit
  • Up to $240 in credits for eligible sports & fitness, personal care, entertainment & streaming services, and dining
  • Card earns at the following rates:
    • 6X points on travel booked through the Rewards Center
    • 2X points on all other eligible purchases 
  • Priority Pass membership
  • TSA/Global entry credit

Our Verdict

Similar to the Max Cash Preferred card that is also offered by Elan to various banks. Card isn’t worth getting due to the annual fee.

Hat tip to reader Paul D

Source: doctorofcredit.com

Apache is functioning normally

Apache is functioning normally

Bank of America announced a new strategy today to tackle the pesky underwater mortgages on its books, many acquired via its merger with Countrywide.

The so-called “earned principal forgiveness” initiative will target borrowers with subprime loans, option ARMs, and prime two-year hybrid ARMs.

For loans at least 60 days delinquent with current loan-to-value ratios of 120 percent or higher, the bank will offer an interest-free forbearance of principal that the homeowner can turn into reduced principal over five years if they stay current on mortgage payments.

“In our experience with Home Affordable Modification Program and National Homeownership Retention Program modifications, Bank of America has found that many homeowners who owe considerably more on their mortgages than their homes are worth are reluctant to accept a solution that addresses only the amount of the payment without an accompanying reduction in the balance due on the loan,” said Barbara Desoer, president of Bank of America Home Loans, in a press release.

Bank of America said it will make principal reduction the initial consideration toward reaching HAMP’s 31 percent debt-to-income ratio target when modifying the aforementioned loan types.

Certain holders of option arms may also receive a HAMP modification that eliminates the negative amortization feature and results in the forgiveness of all or part of the negative amortization amount to reduce principal to as low as 95 percent loan to value.

Of course that means the borrower will no longer have the ability to make ultra-low monthly mortgage payments, but BofA hopes the equity reward will be enough to avoid strategic default and foreclosure.

The bank and mortgage lender estimates it will be able to offer principal reduction solutions to 45,000 borrowers, representing $3 billion in total reduced principal.

Bank of America is also extending its National Homeownership Retention Program (its own loan modification program) for an additional six months to December 31, 2012.

Source: thetruthaboutmortgage.com

Apache is functioning normally

Apache is functioning normally

An amendment introduced by Oregon Senator Jeff Merkley and Minnesota Senator Amy Klobuchar aimed at protecting homeowners from deceptive lending practices passed the Senate by a vote of 63-36 today.

As a result, mortgage lenders and loan originators will be banned from accepting payments based on the interest rate and other terms of the loan, which effectively wipes out loan steering.

The legislation also seemingly kills off yield spread premium, which was one of the main ways mortgage brokers were compensated (how mortgage brokers make money).

“Deceptive mortgage practices like hidden steering payments directly led to the Wall Street meltdown and resulted in millions of families losing their homes,” said Senator Merkley in a release.

“We took a huge stride forward today in the fight to restore fairness for homeowners and strengthen the financial foundations of our families. I look forward to seeing this amendment become law so that never again will hidden steering payments put millions of homeowners on the fast track to foreclosure.”

Current rules allow loan originators and mortgage lenders to place borrowers into higher-cost and riskier loans, even when they qualify for more affordable loans.

Merkley cited a WSJ study, which found that 61 percent of subprime loans originated in 2006 went to borrowers who qualified for prime loans.

The bill will also require lenders to document income and “other underwriting standards” to ensure borrowers can actually repay their loans, putting an end to no doc loans and so-called “liar loans,” otherwise known as stated income loans.

These are huge changes and the implications may be great for the mortgage industry.

The amendment was also co-sponsored by Senators Chuck Schumer (D-NY), Olympia Snowe (R-ME), Scott Brown (R-MA), Mark Begich (D-AK), Barbara Boxer (D-CA), Chris Dodd (D-CT), Carl Levin (D-MI), Al Franken (D-MN) and John Kerry (D-MA).

Source: thetruthaboutmortgage.com

Apache is functioning normally

Apache is functioning normally

HomeBridge Financial Services announced this morning that it plans to acquire the operating assets of Prospect Mortgage, LLC headquartered in Sherman Oaks, CA.

Specifically, HomeBridge is going to get their hands on Prospect’s loan production platform, with the intent of creating a mega mortgage lender.

HomeBridge is already a pretty major mortgage player, so combining forces with Prospect should make them a household name…well, that’s probably the hope.

Seeking to Become a Mortgage Giant

HomeBridge expects to be one of the largest non-bank home loan lenders in the nation once the acquisition is completed in January 2017.

Together, their combined operation will grow to 250 retail mortgage branches nationwide with around 900 retail loan officers.

Additionally, HomeBridge has two separate wholesale operations, HomeBridge Wholesale and REMN Wholesale.

Collectively, the entire conglomerate will employ more than 3,000 full-time workers, making it one of the larger mortgage operations nationwide.

Prospect Mortgage offers all types of mortgages, including both conventional and FHA, while also specializing in 203(k) renovation loans. In fact, they were the top originator of such loans nationwide as of April.

HomeBridge was the second largest 203(k) lender, so together they’ll really be number one. And by that I mean double their nearest competitor.

Around 1% Market Share Combined

Per the press release, Prospect Mortgage funded nearly $9 billion in home loans in 2015. HomeBridge said it originated around the same amount last year.

Interestingly, per HMDA data, Prospect seemed to be the bigger of the two lenders last year. They had $8.5 billion in total volume in 2015, up quite a bit from the $6.4 billion seen a year earlier.

Their market share decreased a bit from 0.567% to 0.557% during that time. They did a large amount of FHA lending with such loans accounting for 23% of total volume.

Meanwhile, HomeBridge reportedly mustered $7.7 billion in volume, up from $5.8 billion a year earlier. Market share also fell during that period from 0.501% to 0.491%.

HomeBridge had an even larger FHA share at 33% of total production.

That placed Prospect at #26 in the top 40 mortgage lender list of 2015, and HomeBridge at #30.

So perhaps the smaller fish ate the bigger fish…hard to say with different data sources, but they clearly do similar volume.

I did a quick back-of-the-envelope calculation and together they would have about 1% total market share based on that HMDA data.

It might not sound like a lot, but it would have made them the 11th largest mortgage lender in 2015. And probably a top five non-bank mortgage lender.

The combined, streamlined operation will probably grow even larger…

Watch out Quicken.

Source: thetruthaboutmortgage.com

Apache is functioning normally

Apache is functioning normally

Whether you’re looking to spruce up your barbecue area or design a fully equipped kitchen, there are plenty of options and logistics when it comes to building an outdoor kitchen.

This guide will go through the steps of siting, designing, and creating an outdoor kitchen, along with some typical costs and considerations for making your home improvement dreams a reality.

Settling on a Location

Before diving into the details of outdoor kitchen designs, settling on a location can help focus your planning and creativity. For starters, you can take stock of existing structures in the yard that could be incorporated into the design, such as patios and decks.

When envisioning options, measure the square footage of potential kitchen areas. This can inform what types of equipment and accessories will fit in the space you have.

Having some essential design features in mind, such as a grill or wood-fired pizza oven, could help guide the siting process, too. If you have your eyes on heavier equipment, like furniture or a bar, you may need to reinforce a deck or patio to safely accommodate the extra weight. Consulting with a professional contractor is advisable to prevent sagging in the floorboards or more severe damage that could lead to a complete backyard remodel.

Slope and distance from the house could also impact the feasibility and cost. Building on an inclined surface might require a more robust foundation than a level area. Situating an outdoor kitchen a greater distance from the home may add the expense of connecting electricity or plumbing, not to mention the practicality of walking back and forth. Adding outlets can cost between $150 and $300 each, while new wiring costs $7 to $10 per foot, excluding the cost of labor for installation.

If possible, use existing structures or buildings next to the house to reduce such costs, and integrate an outdoor kitchen with the rest of the living space.

If you need help paying for your backyard sanctuary, a personal loan may be one option to consider. Personal loans are repaid with monthly payments of principal plus interest. Generally, there is some discretion on how the borrower spends the money, whether on an outdoor kitchen or paying off credit card debt.

Recommended: What Are the Most Common Home Repair Costs?

Creating an Outdoor Kitchen Design

After hashing out where to build, it’s time to delve into the details of the outdoor kitchen design. While browsing through dream kitchens on HGTV can provide inspiration and creative ideas, being realistic with your budget and desired kitchen features can keep you on track.

To avoid the impulse of keeping up with the Joneses, it may be beneficial to make a ranked list of possible equipment and design components alongside a budget.

Keeping in mind your own cooking habits and diet can be a useful litmus test to determine what you may use frequently and what could likely accumulate dust. It’s also worth considering how many people you’d like to accommodate.

If you’re overwhelmed with ideas but don’t know where to begin, finding a focal point to design around is one option to consider. For instance, barbecue connoisseurs may want to orient the outdoor kitchen design around the grill, whereas skilled mixologists might prefer to showcase their craft behind a central bar area.

Here are some further ideas for accessories and appliances to outfit an outdoor kitchen.

Grill

A built-in grill can look sharp and tailored within an outdoor kitchen design, but it can’t be wheeled away for additional entertainment space when you’re not cooking. Opting for a freestanding grill could help stretch your budget further and add some flexibility to an outdoor kitchen design.

Kitchen Island

Adding a kitchen island for a mixed-use of counter space and seating can further integrate the cooking and dining space to bring everyone together at a dinner party or family gathering. Opting for the roll-away variety can help you customize an outdoor kitchen depending on the occasion.

Sink

Including a sink in an outdoor kitchen is useful for cooking, easy clean up, and sanitation. The practicality of installing a sink and plumbing also depends on how far the outdoor kitchen is from the house. Carrying dirty dishes and pans a short distance for washing inside may not be worth the added cost of plumbing for some people.

Refrigerator

Whether storing food or drinks, a fridge can keep an outdoor kitchen stocked and ready and cut down on trips between the house. This requires running electricity for ongoing operation. For a full-size fridge, you can expect the cost to average between $1,000 and $2,000.

Countertops

As the cook in any family can attest, counter space is a big help when it comes to staging and preparing food. On top of stains and wear and tear over time, outdoor kitchen countertops may need to be weather resistant, too.

Marble is a popular interior countertop surface, but its cost and vulnerability to staining and wear mean it’s not the most durable. Some more hardy choices include slate and granite. Tile is a cheaper sturdy alternative, but typically requires more maintenance to clean the grout and replace cracked pieces.

For a functional amount of space, consider having at least 18 inches on each side of a sink, as well as 18-24 inches on either side of a grill.

Cabinets

To house all your outdoor kitchen utensils, pots, and pans in one place, cabinets are a good bet. Similar to the countertops, durability is a key factor to consider alongside cost. Using a marine-grade paint or stain on wood cabinets can improve their weather resistance and tie in the outdoor kitchen design with the house.

Lighting

Unless the outdoor kitchen will be built on an existing porch or patio, adding lighting may be a necessary investment to make a backyard dinner party possible. As mentioned, extending electrical wiring and adding outlets comes with costs. Given that 15% of home energy expenditures go towards lighting, going with solar lights could save on both the electric bill and wiring.

Landscaping

After construction is completed, landscaping can further beautify the outdoor kitchen space and provide privacy and shade in the way of bushes or trees. Landscaping costs can be as little as $500 to $700 for smaller jobs, though this is an easier opportunity than say plumbing or electric to recoup some money as a DIY project.

Recommended: 20 Beautiful Small-Kitchen Remodel Ideas

Choosing a Shelter

Even in the fairest of climates, having some protection from the sun and assurance you won’t be caught in the rain can be an asset to an outdoor kitchen design. In addition to making a more comfortable space, a shelter could also increase the lifespan of your outdoor kitchen equipment and furniture.

Check out some possible options that can protect and enhance an outdoor kitchen design.

Awning

Awnings are an option for shading an outdoor kitchen area. Based on size and materials used, a built-in awning costs between $1,409 and $4,350 on average.

Canvas awnings are not the most durable choice for areas that can have harsh weather conditions, but they can be removed and stored during winter and inclement weather to extend their lifespan. Metal awnings are another option, and are generally cheaper and sturdier. Upgrading to a mechanically retractable awning will likely increase cost, but can be handy in locations where weather changes quickly and frequently.

Gazebo

A framed gazebo can protect furniture and kitchen equipment while creating a comfortable space for cooking and dining. Whereas awnings are often attached to a structure or need to be taken down seasonally, gazebos can offer longevity and more options for placement.

Pergola

Composed of vertical posts and overhead cross-beams with open lattice, pergolas can add some architectural appeal to an outdoor kitchen area. The structure is well-suited for growing vines to increase shade while allowing for ample breeze.

The Takeaway

After figuring out the location, dimensions, and trimmings for your outdoor kitchen design, you can begin itemizing building or remodeling costs within a budget. If you come to realize you’re biting off more than you can chew, it’s okay to do the project in pieces. After all, cooking in your outdoor kitchen could be quite a bit cheaper than ordering from a restaurant, thus helping pad your savings further. There are also options to finance an outdoor kitchen project, such as personal loans.

If you’re ready to roll up your sleeves and get some home repairs or renovations done, see what a SoFi personal loan can offer. With a SoFi Home Improvement Loan, you can borrow between $5k to $100K as an unsecured personal loan, meaning you don’t use your home as collateral and no appraisal is required. Our rates are competitive, and the whole process is easy and speedy.

Turn your home into your dream house with a SoFi Home Improvement Loan.


SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.

Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.

Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

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Source: sofi.com

Apache is functioning normally

Apache is functioning normally

As the capital and most populous city in Utah, Salt Lake City is one of the Mountain West’s premier tourist destinations and most desirable places to call home. Since hosting the Winter Olympics in 2002, Salt Lake City has gained more international acclaim and become a must-see spot for travelers and adventurers from around the globe.

Listed below are some of the locally loved businesses and locations that make Salt Lake City a great place to eat, drink, play and explore.

Source: facebook.com/Oquirrhrestaurant

Best bites in Salt Lake City

Salt Lake City is full of passionate chefs and eager restauranteurs. Here are eight of the top spots to grab a great bite to eat in Salt Lake City.

Oquirrh

Guided by the goal of supporting local artisans, farmers and ingredients, Oquirrh specializes in locally-sourced American fare. Leveraging their relationships within the community, Andrew and Angie Fuller, the dynamic duo behind this Central City restaurant, constantly evolve their menu to reflect the season outside and the passion in the kitchen. While this is the ideal spot for a romantic date night, they also serve up a legendary brunch on the weekends starting at 10:00 AM.

Arlo

Arlo is an “elevated casual, chef-driven restaurant” in the Capitol Hill Historic District. Drawing inspiration from all around the world, Arlo’s menu is compiled of a diverse selection of cuisine styles that create a cohesive and intriguing selection of delicious dishes from American to Mexican to Italian and more. Regardless of what you’re craving, there’s something of the highest quality waiting for you on Arlo’s menu.

Yoko Ramen

Named after the ramen capital of Japan, Yokohama, Yoko Ramen specializes in its namesake dish but also churns out other delectable delights like chicken wings, gyoza and sandwiches, to name a few. Opened nearly five years ago, Yoko Ramen has solidified itself as a bonafide success in the burgeoning Central City restaurant scene. Stop in and slurp up some of SLC’s best ramen at this hotspot.

Salt and Olive

Fast casual meets fine dining in this historic building turned chic restaurant space. Salt and Olive is backed by head chef, Chef Naza and head mixologist, Cory Dudis. This dynamic duo running the show brings forty-plus years of experience to the table and that’s apparent from the moment you walk through the doors. The menu here is decidedly Italian, but due to the restaurant’s dedication to local, fresh ingredients, there’s always something new and exciting to enjoy at Salt and Olive.

Pago

Boasting two locations within the Salt Lake City limits,—one in East Central and one Downtown—Pago is a “wild to table” restaurant that focuses on utilizing fresh, local and sustainable ingredients. Pago’s menu is season-driven and always changing to reflect what’s fresh and available. Pago partners with local artisans, farmers and more to collect the highest-quality ingredients and employs passionate folks to put them to use.

Pretty Bird Hot Chicken

With two locations in Salt Lake City, one in Park City and a fourth in Midvale, Pretty Bird is beloved all throughout Utah, and with good reason. Pretty Bird Hot Chicken is just darn good, no other way to say it. If you’re going to make a living off of fried chicken sandwiches you better make them good because the competition is stiff. Pretty Bird holds up to and outdoes the competition in a deep field by frying up one of the tastiest birds on a bun you’ll ever have the pleasure of putting in your mouth.

Nomad Eatery

Located within Unita Brewhouse Pub, Nomad Eatery provides all your classic bar bites, but what sets them apart is that they’re executed to perfection. Loaded fries, wings and burgers are just some of the highlights that grace the menu of this inviting gem tucked away near the airport in the Glendale neighborhood.

Table X

Table X is, you guessed it, another restaurant on this list that prioritizes the use of locally sourced, sustainable ingredients. Fine dining without the fuss is the overall vibe at this unique yet classically appealing space. Table X serves a tasting menu in which every dish, from the bread to the final bite, is thoughtful, intentional and downright delicious. A truly one-of-a-kind experience from beginning to end, Table X is as much an adventure as it as an undeniably tasty meal.

Source: facebook.com/alibislc

Four great places to get a drink in Salt Lake City

While not known as a drinking town, Salt Lake City still has its fair share of hip watering holes to help you cut loose.

Alibi Bar and Place

Alibi Bar and Place is your everyday neighborhood bar on an elevated level. With a rotating offering of live music and DJs on a daily basis, cocktails made with fresh ingredients, local craft beers and an expertly curated wine list, Alibi is a great place to let happy hour turn into a great night out.

Seabird

Craft cocktails, craft beer and vinyl are what you can expect at Seabird, a downtown cocktail bar with a killer patio. This hip hangout is warm, welcoming and always serving up great vibes alongside creative cocktails made with love. Ideal for a nightcap after a long day or your first drink on a Friday afternoon, Seabird is a safe bet for a great time.

Post Office Place

Located smack dab in the center of Salt Lake City, Post Office Place is an elegant bar and eatery. Boasting a menu full of creative small plates and sensational cocktails, Post Office Place is the type of spot that asks you to expand your comfort zone and open your eyes to something new. Whether that’s trying chicken liver mousse (you won’t regret it) for the first time or dipping your toe into the complex world of Japanese whiskey, you’re in for a treat when you walk through the Post Office Place doors.

Varley

Immediately recognizable by the half-moon-shaped mirrors and shelving behind the bar, Varley is an elegant cocktail bar located in the heart of Salt Lake City. Moody decor, music that keeps the vibe going and creatively crafted cocktails prepared by a dedicated and talented staff are just a few of the things you can expect to encounter when you decide to stop into Varley.

Source: facebook.com/threepinescoffee

Staying caffeinated in Salt Lake City

There’s a lot to do in Salt Lake City. You’re going to want to stay caffeinated to get the most out of each day.

Three Pines Coffee

Minimalist decor meets maximum talent manning the machinery in this hip and airy coffee shop. Three Pines Coffee was founded with a singular idea in mind, that Salt Lake City needs great coffee shops. Due to the large LDS population, SLC has been a bit late to the craft coffee scene, but with places like Three Pines leading the charge, the future is looking bright for all the Salt Lake-based caffeine freaks. Three Pines Coffee is known for inventive espresso drinks, tasty pastries and overall quality across the board. Stop by and start your day off right.

The Daily

The Daily does three things extremely well. Those three things are coffee, pastries and an inviting atmosphere. The perfect place to perk up on a Monday morning, or kick back on a sturdy afternoon, The Daily is a great go-to coffee shop, regardless of the time of day.

Kahve Cafe

Kahve Cafe specializes in Turkish coffee. If you haven’t had Turkish coffee before, here are a few things you should know. It’s delicious, it’s strong and it has a distinct texture. If you like an intense coffee flavor, you absolutely have to try a cup from Kahve. This welcoming and well-run cafe is as authentic as it gets in SLC.

Cupla

The people behind Cupla accomplished something very unique with their shop. They managed to create an industrial space that is also undeniably cozy. Many concrete-floored, brick-walled coffee shops come off as cold and uninvited, Cupla, on the other hand, is a cozy hideout from the hustle and bustle of Downtown Salt Lake City and an ideal spot to enjoy a hot cup of joe on a cold Salt Lake Sunday.

Source: facebook.com/TavernacleSLC

Where to catch a live show in Salt Lake City

Salt Lake City is a hotbed of talented artists, entertainers and stellar spots to see their shows. Here are four great places to see a live show in Salt Lake City.

The Tavernacle Social Club

Dueling pianos, karaoke, comedy and drag — these are the things you think of when you think about Salt Lake City, right? If not, they should be because The Tavernacle Social Club has one of the most eclectic selections of talented performers in Salt Lake City. Shows take place stage six days a week (closed on Mondays).

Crowdsourced Comedy

Improv is one of those things that’s either really good or really bad. There isn’t much gray area when it comes to being funny. Did you laugh or not? That’s really the only question that needs answering. Luckily, the talented folks of Crowdsourced Comedy, a Salt Lake-based improv group, always coax out the laughter. Check out their website for show and class information or to book them for your next party!

Kilby Court

Kilby Court is the “longest running all-ages venue in Salt Lake City” and, as such, it has developed quite the reputation as a great place to catch a small live show in Salt Lake City. This indoor/outdoor venue features muraled walls, heavily stickered windows and a great stage. If your vibe leans a little more off the wall, Kilby Court is the spot for you.

Garage on Beck

Just north of Downtown Salt Lake, in the Rose Park neighborhood, Garage on Beck is a 21-and-over bar, grill and live music venue. Known for killer comfort food and stellar stage talent, Garage on Beck is worth the short trip outside town and offers an atmosphere entirely its own. If you’re hoping to catch a show, concerts are held on Fridays, Saturdays and Sundays.

Source: facebook.com/pages/Bonneville-Shoreline-Trail

Things to do outside in Salt Lake City

You didn’t come to Salt Lake City to stay inside, did you?

Bonneville Shoreline Trail

Bonneville Shoreline Trail is a great area for easy to moderate hikes and slightly more strenuous mountain biking. Located just under a half hour north of Downtown SLC, this recreational area exhibits the best of the pristine nature that surrounds the Crossroads of the West. Be warned though, if you go shortly after rain, you should expect very muddy and slippery conditions.

Red Butte Canyon Overlook

Red Butte Canyon Overlook is located within the Red Butte Canyon Research Natural Area a little over a half hour northeast of Downtown Salt Lake City. This protected natural recreation and research area is perfect for anyone looking to get their steps in a beautiful setting and be rewarded with a stunning view.

Millcreek Canyon

Located in the Wasatch Mountains in Millcreek, Utah south of Salt Lake City, Millcreek Canyon is a stunning recreational nature area that provides space for camping, mountain biking, hiking and more. Filled with lush greenery in the summer months and serene, snowtopped hillsides in the winter, Millcreek Canyon is a great place to soak up some of the best nature the Salt Lake City area has to offer.

International Peace Gardens

The International Peace Gardens is a botanical garden that has been benefitting the Salt Lake City area for over 80 years. The team at the Peace Gardens nurtures plants from over 28 different countries and is a true representation of some of the most interesting, unique and essential botanicals to be ever be discovered. Also, it’s just a beautiful place to walk around.

See what Salt Lake City has to offer

There’s only one way to get to know Salt Lake City and that’s to immerse yourself in the culture and find your go-to spots. Start your search with the places listed above and you’ll feel fully at home in Salt Lake City in no time.

Source: rent.com