Wonderful shout-out to Terry Wenze in this week’s blog (you’re welcome, Terry) for two things 1) The extra-large card he brought to the breakfast for everyone to sign this last weekend and 2) for doing a fantastic job of filling in for John. Also, a special thank you from John for everyone who signed it and sent along notes and prayers in that card, it was absolutely beautiful and he appreciated it very much. As always your texts, emails, and prayers all continue to bless him! The outpouring from the investor community truly has been wonderful. Keep them coming. He is still resting at home. We continue to ask that you keep John in your prayers. Most importantly, John’s faith in God keeps him in wonderfully positive spirits, whatever comes.
Loss for Words
Some people never have this problem, case in point, the originator of this blog- John Fisher. Any of you that know John or have talked to or heard him talk for more than 30 seconds know this is the case and he’s almost always teaching or running off ideas. I, on the other hand, do find myself with this problem and have found myself in this situation quite a few times over the last few months – both in good and bad. The stories we hear from investors and our students about offers, showings, and appreciation leave me searching for words about how to describe it. At the same time, integrity issues abound in a market where demand is so very high and it’s hard to find words in the middle of those situations because anger and frustration can rear their ugly heads. In those times we find and choose our words ever so carefully. Our program adage “help me understand” has gone a long, long way in many a situation.
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):
- Richmond, IN 3/1 for $8K (IE) – Cute as a button!
- Flint, MI 2/1 for $2.9K!! – Roughly two coffees per day
- Detroit, MI 2/1 for $5K
- McClure, IL 3/1 for $7K (IE)
“…2015 was supposedly the year that they finally began to rise” We’re talking about interest rates of course. It looks like we might be waiting just a little bit longer on this (I’ve been waiting for them). Would it give us a little demand relief? Would it really affect the market? Seems harder to believe it would have a big shift to the under $400k market, since that one still has such a high demand. Maybe the $400k+ would see a little dip. Even if rates rise, I still think it probably eases upward, but then again, I’m not an economist either… Nationwide it might be a little early for some markets that are earlier in the cycle than we are.
Are there any investors out there trying to sell FSBO? For the newbies that think they are going to do it on their own (and undoubtedly some can), here’s some food for thought. There’s more value than you might think if you don’t know. And sometimes you don’t know what you don’t know.
In national foreclosure news, here’s a simple case of who knows what’s going on? RealtyTrac has “…in July 2015 there was a total of 124,910 U.S. properties with foreclosure filings — default notices, scheduled auctions and bank repossessions — up 7 percent from the previous month and up 14 percent from a year ago.” Whereas CoreLogic reported “The number of foreclosures nationwide decreased year over year from 50,000 in July 2014 to 38,000 in July 2015…”. For some reason, I found it ironic that these two companies are based in the same city. Is one of these companies clueless or is there some sort of conspiracy to keep us all confused? Who to believe. Maybe we need a third “judge” here.
The latest Mortgage Rates: 30 Year fixed at 3.78% and 5/1 ARMS at 2.82%! 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
It’s hard to find anything that doesn’t say “Denver’s market is hot,” “buyers are frustrated,” “it’s a seller’s market,” or “it’s crazy out there.” That’s our realty for now and the foreseeable future. Maybe we need to show our appreciation for appreciation?
Where’s the Deal? Ask your friendly neighborhood wholesaler. Remember, the vast majority of Americans have no idea there is a wholesale property industry alive and well throughout the heartlands. There are even realtors who are clueless! How does WHOLESALING work? On September 26, we’ll show you “the Heart of Wholesaling” directed towards both wholesale wannabes and wholesale wanna dealees. We’ll perform CASE STUDIES as we analyze local wholesale deals to determine value, margin, fundability and sellability. Click HERE for more information or to register.
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!!! call (303 338-8000) email – firstname.lastname@example.org
5061 Xanadu St., Denver. 3 beds, 3 baths, 2 car garage. Buy for $215K.
6054 South Perth St., Centennial. 3 beds, 3 baths, 2 car garage. Buy for $225K.
1312 South Yampa Court, Littleton. 2 beds, 2 baths, 2 car garage. Buy for $195K.
2535 California St, Denver. 2 beds, 1 bath. Buy for $340K.
6337 South Louthan Street, Littleton. 2 beds, 1 bath, carport. Buy for $213K. Price Reduced!
2833 South Willow Court, Denver. 3 beds, 2 baths, 2 car attached garage. Buy for $305K. Price Reduced!
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!
6431 Osceola St, Arvada. 4 beds, 2 baths, 2 car garage, light fix, all for $255K.
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: Our greatest fear should not be of failure but of succeeding at things in life that don’t really matter. – Francis Chan