Fisher Friday Flyer – February 12th, 2016
Lent started this week (no, not the kind you find in your belly button). For those of you that are not familiar with Lent – it’s a 40-day season of fasting in preparation for Easter (if you’ve ever wondered why people fast for Lent, you can check it out here). From a religious context, it’s a time of focus and of “pruning” away the stuff that is distraction and waste in life in order to grow in your relationship with God (so yes, it is more than just substituting cod for your steak on Fridays). Let’s take and apply this same thing to real estate. The idea of pruning out the distraction and waste in our lives and business can be applied on so many levels, but let’s take the lowest hanging fruit. How many man-hours are wasted on our phones, the internet, or watching TV today? One of the sayings we teach our students is “successful people do what unsuccessful people are not willing to do.” With so many people attached to their couches from 5:00-10:00 at night to “relax” or “zone out”, the bar is getting lower for what people are not willing to do. To be successful, sometimes means merely turning our excess of unproductive time into “productive” time. I put it in quotes because it doesn’t have to be work. What DO we consider productive? Learning a new skill? Spending time with family? Improving your processes (to ultimately get you more quality time)? This is not to say that we don’t need some down time, everyone requires some. But how much and what are we doing with it? What’s meaningful? And what counts as down time? Not working? Giving back? Sleeping? Reading the Friday Flyer (which is both productive and relaxing)?
I think I’ve posed enough questions for today. The truth is we all have areas in our lives that distract us and “waste” away our precious few hours. Prune away, my friends and make that time count!
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):
- Birmingham, AL 3/1.5 for $14k (IE)
- Pine Bluff, AR 3/1 for $14.9k (IN)
- Tallahassee, FL 2/1 for $31K (IE)
- Independence, MO 5/2 for $44k
- Louis, MO 5/1.5 for 11k
For all of the experienced landlords (and even flippers) out there, we have our crazy stories. One of mine involves a tenant being arrested and leaving the bathtub running as a door prize. This is just to share a few entertaining ones (albeit a couple crass examples) for your happy Friday! Hopefully you have some fun stories, but maybe not quite this bad. Is there some truth to the statement in #2 – If you don’t have a cat story, you’re not considered a legitimate real estate investor?
Anyone have a tough time figuring out how to write your real estate listing? There are 15 words that tend to correlate with higher listed houses. The real question is – does correlation mean causation? Does using these words increase the sale price or the fact that you have the amenities? There are only 15 words here and if pictures are worth 1,000 words, I still think that good pictures are highly effective.
For all the glitz and glam that come with the words “Real Estate Investing” many new investors look past the essentials. For one, don’t get into a deal for which you are counting on everything going right – or you may end up with the wrong color on your bank statement. Same goes with being a landlord, make sure you know the pitfalls and how to prepare for them!
The latest Mortgage Rates: 30 Year fixed at 3.40% and 5/1 ARMS at 2.60%! 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
Anyone not see the sun coming out for 2016? Apparently we don’t get extra winter this year according to Phil, same for real estate. We hit a lull toward the end of 2015 and we’re pulling out of that. We’re seeing houses that might have been struggling with selling starting to go under contract now. Keep enjoying the sunshine.
Our Invest Success Mentorship Program is ongoing and we are signing up more students. Tell your friends. 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 tomorrow, Saturday, February 13th at Poppies. We start at 7:00am. 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), text us at 720-345-8361.
1789 + 1791 Galena Street, Aurora, CO 80010 2 houses, 1 property. 3/1 on 1789; 2/1 on 1791. 2 car detached garage. Both homes rented. Yours for only $170K!
6064 South Milwaukee Way, Centennial, CO 80121 3 beds, 2 baths, 1 car attached garage. Buy for $280K!
670 South Hazel Court Denver CO 80219 3 beds, 1 bath. Rent ready house with equity. Yours for only $182K!
1332 Valentia Street, Denver, CO 80220 2 beds, 1 bath, 1 car detached garage. Buy for $195K!
6612 W Frost Avenue Littleton CO 80128 4 beds, 3 baths. Oversized attached garage. Yours for $382K!
QUOTE OF THE WEEK : Discipline is the bridge between goals and accomplishment. – Jim Rohn