Making the “Big Bucks”
As we all know, there is a lot of money to be made in real estate – but what separates the successful investor from the mediocre investor? This article gives some great tips. First off, diversify! A mixture of long-term rentals and short-term rentals, as well as single family and multi-family will add up to a strong portfolio. Over the course of time you will be able to ride out the market’s ups and downs. It’s also important to work with the right people and grow your own knowledge. Don’t blindly trust anyone! Do your own due diligence on every deal (and partner).
The market is cooling, what does that mean?
It just means that summer is ending and people are getting back to school. Here’s what the news focuses on: Oh no! The market is cooling! Here’s what they aren’t adequately explaining: the July slump is normal and the market is still strong. That is typical this time of year, so really nothing to suspect any significant change in the market. For fix and flip, though, it is important to price right and factor in a more days on market as we head into Fall.
Ongoing: Attention Denver Citizens and Landlords!
Denver City Council has proposed to require landlords to accept Section 8 tenants by adding “source of income” to the list of things a landlord cannot ask about or consider when selecting a tenant. Some landlords love Section 8 and some hate it. If this bill passes, you no longer get the choice. Read the proposed bill here. If you live in Denver, call your representative and tell them to allow ADUs (auxiliary dwelling units) instead, which increases the number of units available and keeps rents low through competition.
QUOTE OF THE WEEK
“A life isn’t significant except for its impact upon other lives.”
See you soon,