As was the case last week, we again want to take a second and thank everyone for your, prayers, encouragement and kindness for John for the last couple of weeks – they continue to bless him! Keep them coming. For those of you that may have not read the blog the last couple weeks, John has lung cancer. He is resting at home and we are unsure of what the future holds. We would ask that you keep John in your prayers. Most importantly, we’re fully trusting in God through all of this.
Finding the Answer
Today marks the 14th anniversary of September 11th. I’m sure many or all of us can remember where we were when it happened – I do. Today we remember those who lost their lives that day which is, I’m sure, still real for some who were hit hardest. We also thank those who have or now serve to keep this nation free. Thank you.
There’s a question (probably many questions, but for purposes of this blog, we’ll take one today) that you can take away from the events of 9/11 – where do you go for the answer? After 9/11, not many (or any) people had firm understanding of what was happening or why. Kids were asking parents, parents were asking their parents and their peers, people were drawing theories, church attendance was record high because people were seeking answers. Let’s present that same question into everyday lives – when you have a question you cannot solve or don’t have the answer to – where do you go for the answer? Where do you start? How long do you pursue it? Are you humble enough to ask someone? Do you have a mentor or peers that will help?
A strong support network is invaluable and directly proportional to your success – in all aspects of life. (It’s about time to throw out a cliché)… No man is an island… And the puzzle you face may be as simple as a leaky faucet or as heavy as facing mortality, but knowing who to ask for answers is equally important in any scenario. So get out and build that network (is that a lead-in for the breakfast this Saturday?).
On with the blog…
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 OK for FHA loan as is);these HUDs may “go” quickly):
- Memphis, TN 3/1 for $9.6K (IE)
- Lawton, OK 3/2 for $8.9K
- McClure, IL 3/1 for $7K (IE)
- Granite City, IL 1/1 for $4.2K (IE) PRICE REDUCED!
Looking to add some pizzazz to your rehabs? A couple of these might work to put you above the rest. That is probably not necessary in order for a sale in this market, but something to keep in mind… And I’m not sure they’d cost $5,000 since we get the “investor discount.”
Buyer confidence declining? Will it affect the market? Will buyers stop buying? All these questions and more to be answered… in the future. Before we jump to the next section, what’s the Zillow Housing Confidence Index? Hopefully it’s not as obscure as the Dow Jones Summer/Winter Games Index was? And now you have your useless trivia for the day.
Apparently, it’s not just in Denver, but in many U.S. cities that new construction is not keeping up with job growth and needs. Should we congratulate Colorado Springs on being a balanced market? Might not be a bad place if you want some stability in the long term.
The latest Mortgage Rates: 30 Year fixed at 3.75% and 5/1 ARMS at 2.75%! 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
Sunny with a high of 75F? If you didn’t catch it last week, there’s not a lot of change. Still seeing seasonal slowing but well above where a “normal” market typically is. The appreciation is still there, but has slowed as well. It’s getting to be the best time of the year to buy – Oct-Dec lends very well to getting those houses on the market when spring is “heating up.” Get your acquisition face on.
Thanks to all those who attended our 2-day REHAB ACQUISITION WORKSHOP a couple weeks ago. It was a great success. Lots of learning and lots of fun. We’ll see you at the next one!
There’s a waiting list of people looking for us! Our Invest Success Mentorship Program is ongoing and at this point we’ve started a waiting list. 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. Write, Text, Tweet, Facebook (the verb), E-mail, drop by. Next Breakfast Club is September 12! We’ll see you there!
INVENTORY: Inventory flows: CHECK ‘EM OUT!!! More coming soon!!! NOTE: if you don’t reach us with a phone call (303 338-8000).
10712 East Exposition Avenue, Unit 208, Aurora. 1 bed, 1 bath Condo. No work required! Buy for $50K!
1744 Kenton Street, Aurora. 3 beds, 2 baths, 2 car detached garage. All for $175K!!
6337 South Louthan Street, Littleton. 2 beds, 1 bath, carport. Buy for $225K.
2833 South Willow Court, Denver. 3 beds, 2 baths, 2 car attached garage. Buy for $315K.
9826 Lafayette Street, Thornton. 5 beds, 3 baths. Buy and Hold property only for $205K.Price Reduced!
4760 South Fox St., Englewood. 3 beds, 1 bath, 1 car detached garage. Buy for $213K.Price Reduced!
490 South Canosa Court, Denver. 2 beds, 1 bath, 2 car carport. Buy for $185K.
6431 Osceola St, Arvada. 4 beds, 2 baths, 2 car garage, light fix, all for $255K.
8225 Solana Dr, Denver. Nice brick 3 bed, 2 bath near Thornton and comes with basement! Buy for $175K.
3575 Holly St, Denver. 2 beds, 2 baths, finished basement. PARK HILL. HUGE oversized detached garage. Buy for $265K. Price Reduced!
2464 Astrozon Cir. Colorado Springs. 2 beds, 1.5 baths, 1 car attached townhome. Buy for $71.4K. Terrific rental, great cash flow. FHA “as is” appraisal of $84K.
1263 Gumwood Dr, Colorado Springs. 4 bedrooms, 2.5 baths, 2 car attached. Buy for $207K. ¼ mile from Fort Carson Gate. Big house.
2551 S Pearl St, Denver. 2 beds, 1 bath, 1 car detached garage. Super location: Harvard Gulch! Close to DU. Buy for $257K. Good lot size, possible addition to add more value!
26 S Yarrow St, Lakewood. 2 beds, 2 baths, with garage. Clean brick ranch. Buy for $290K.
1601 S Ivanhoe St, Denver. 3 beds, 1 bath, 2 car attached garage. Buy for $395K. Huge potential! Off Iowa and S Holly & close to Cherry Creek trail. Seller reduced!
QUOTE OF THE WEEK: It is during our darkest moments that we must focus to see the light.