Wikipedia provides a metaphoric description of an Energy Vampire: someone who feeds off of the “life force” of others; “… people whose influence leaves a person feeling exhausted, unfocused, and depressed.” Someone who drains you emotionally or leaves you drained. Do you know people like that? What a phenomena. What an effect. Most of us have had that experience. Maybe you can wear an Energizer Bunny around your neck instead of a garlic pendant or necklace to protect yourself from these people? Drained. Exhausted. Not good. Negative. How can you reverse the karma, the flow? Oh, easy answer is “avoidance.” Not so easy in practical life. Sometimes it’s “note to self…” so you don’t fall into that Dracularian pit. Maybe “being aware” is enough. What works for you? What do you do to reenergize? Meditation? Prayer? Caffeine? Nap? Gather your thoughts? Go to that “special place?” Whatever works! Some people are able to quickly charge their battery. Some have energy endurance and can give, give, give all day. Most of us require recharge. How do you do it? How do you deal with the ebb and flow of your energy?
HUD STEALS for you investors who are looking for out-of-state deals (this is just a sample of potential bargains available; click on link for more information; all at investor status; “IE” means FHA-lender repairs are under $5K, “IN” means insurable, OK, for FHA loan as is);who says there are no bargains out there? These HUDs may “go” quickly:
- Switz City, IN 3/1/C for $11K
- East Liverpool, OH 3/1 for $10K
- Houlton, ME 3/1/2+ for $14K
- Birmingham, AL 3/1 for $8.1K
- Muskegon, MI 3/1 for $13K (IE)
- Take the market’s temperature (hot, cold, tepid, etc)
- Look at comparable sales
- Ask around the neighborhood (barking dogs, e.g.)
- Learn the seller’s situation (motivated?)
- Ask your agent’s opinion (remember, your agent is your friend!)
- Protect yourself with contingencies (ah, the investor’s manual)
Led by Florida, Nevada, Maryland, and New Jersey, bank repos (REOs) reached a 27 month high (yet, we’re 56% below peak). Check out chart on REO’s selling closest to market value: San Diego is 100%; Denver, in comparison, is 93%; 9 of top 10 are Left Coasters. REO’s below market value: Akron is 66%, Baltimore is 74%…top 10 are Right Coasters & Great Lakers. Metros with highest foreclosure rates: Atlantic City, Jacksonville, Tampa, Daytona, & Miami.
Because you didn’t ask…here’s the top outdoor patio trends for summer 2015:
- Lime green accent colors
- Vertical gardens
- Hurricane candles
- Replace Tuscan colors
- Replace shabby chic furniture
- Eliminate excessive patterns
Now it’s time for your patio party. Don’t forget to invite me!
For the first time in years, rents are outpacing home values! Rent rates rose (say that quickly three times!) 4% nationally while homes rose 3%. Check out the chart for the cross-over data.
The latest Mortgage Rates: 30 Year fixed at 3.79% and 5/1 ARMS at 2.94%. Expect investor (non-owner occ) rates to run about ½ point higher on non-owner occ loans. (These are AOL/Zillow.com reported average rates as of Thursday)
REAL ESTATE WEATHER REPORT
Denver housing: Rocky Mountain high and HOT. Check out CNBC’s news video/feature! The news feature, video and article say it all. Some people cite legal pot, others the great weather. Adding 50-60K people to Denver Metro each year is not being met by housing construction. Fort Collins is just as “bad” as Denver. High prices go higher. High rent rises. Do you think this national news will help or hinder Colorado housing? Validation, for sure, that we are “white hot.” We continue to see more and more investors “take a breather” and sit on the sidelines. Too bad, considering low interest rates and high demand. Maybe the grass is greener on the other side of the …country. It’s all relative. Just like the stock market, you can make money when it’s going up and when it’s going down; it all boils down to TIMING. Don’t be late!
FIRST CLASS: Insurance for the Investor. May 30, 2015. EVERYTHING INSURANCE! Homeowner, vacant property, title, health, umbrella, life, you name it, we’ll cover it! Did you know 60% of all Colorado homeowner claims are hail related? Don’t miss this exciting event. Cover your assets! REGISTER HERE!!!
Mark this date: June 27, Saturday, Bulletproof Your Rentals, all day workshop on saving you time and money with your rentals. Over 100 tips! Registration info HERE. Coming in July: Out of State Investing.
We’re looking for people looking for us! Our Invest Success Mentorship Program is ongoing. We offer LOCAL webinars, house tours, and small, personalized classes as well as hands-on on-site experience. You will learn where and how to look for deals! Oh, and our flagship program requires you to REHAB A HOUSE! You’ll have our ear for a year! Amp up your business with custom systems and procedures. Go to our website for more information. Better yet, call us. Nothing ventured, nothing gained!
Call us with tips, rumors, conjectures, deals, and cold cases (we’re thirsty!). If you’re not on our list and want to be, LET US KNOW. Our next Breakfast Club is June 13. Write, Text, Tweet, Facebook (the verb), E-mail, drop by. Thank you for helping us help you!
INVENTORY: Inventory flows & goes: CHECK ‘EM OUT!!! More coming soon!!! NOTE: if you don’t reach us with a phone call (303 338-8000), text us at 303 564-1680.
3533 Verde Drive, Colorado Springs. 3 beds, 2 baths, 1 car attached garage. Buy for $95K!
3087 Wolff St. Denver. 4 beds, 3 baths, 1 car attached garage. Harvey Park. Buy for $275K.
619 E Ohio Ave. Denver. 3 beds, 2 baths, West Washington Park. Buy for $410K. Small lot, scrape or pop it!
2111 S Corona St, Denver. 2 beds, 1 bath, 2 car detached. Use your imagination. Buy for $320K.
5015 Eliot St, Denver. 2 beds, 1 bath, 1 car attached. Great for conversion. East Berkeley. Buy for $240K.
4352 Vallejo St, Denver. 3 beds, 1 bath, and 1-car detached garage, great location. Buy for $330K.
350 S Parfet St, Lakewood. NICE. 5 bedrooms, 5 baths, 2 car detached garage. Yours for $347K (Price reduced by seller).
6553 Big Horn Trail, Littleton. 5 beds, 4 baths, 2 car garage on ¼ acre. Roxborough! Buy for $440K.
7058 S Chapparal Cir West, Centennial. Buy this 4 bedroom, 4.5 bath, 4-car garage “mansion” for $540K. Great numbers. Great location on over 1 acre close to DTC! It’s luxurious, captivating, impeccable….
QUOTE OF THE WEEK: Put your energy into building what is creative, valuable and empowering. And you won’t have to constantly fight against what is destructive and draining. ~Ralph Marston