It’s October, one of the busiest seasons of the year for sports and of course to many people MVP stands for most valuable player. This is an award given to the person who supposedly (and maybe arbitrarily) brought the most value to their team for the year. But in the case, it means Mission, Values, and Purpose. I’m going through an exercise right now that is forcing me to evaluate each of these in a very specific way. What is your mission in life? Do you have one? What are you here to do? What are the values that you use to achieve this mission? What purpose does that serve in the grand scheme of things?
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):
- Jacksonville, FL 3/1 for $22k (IE)
- Portsmouth, VA 4/2 for $34K (IE)
- Racine, WI 2×3/1 for $22.9K
- Belleville, IL 1/1.5 for $5.5k (IE) Almost 1,100 sqft
If you’ve got some time, this is a great read (4 parts) about an Airbnb experiment. Is anyone looking at the Airbnb market? It’s a viable option for landlords and property managers that creates additional income (albeit, not passive) per property. You might be able to use that extra $600/month in your pocket.
One of the big issues that comes up with a market like Denver’s is that you have developers and investors trying to infill everywhere – there’s great value in many locations like Jefferson Park where zoning has allowed for high density. Of course, this does not mix well with your neighborhood preservationists who don’t want to see entire neighborhoods disappear with something they see as far inferior. Who wins? Who’s right? Who knows…
Just in case you haven’t seen enough on the rental rates in Denver, here’s one. How about a national one for good measure? Both of these articles predict continuing climbs in the rental rate. It’s easy to “see,” but it seems like there’s an awful lot of frothing right now, buyer beware?
The latest Mortgage Rates: 30 Year fixed at 3.59% and 5/1 ARMS at 2.65%! 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
Rental rates continue to surprise, although it sounds like those have taken a slight level-off with the season. Is this the start of some decline? Maybe some people thinking that, but not a whole lot of people reporting it, time will tell! Deals seem to be a little more prevalent towards the end of the year – buy accordingly (and intelligently).
We’ve started a waiting list of people looking for us! Our Invest Success Mentorship Program has 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. Our next Breakfast Club is November 14th. We’ll see you there!
INVENTORY: Inventory flows – CHECK ‘EM OUT!!! More coming soon! Call Us! (303 338-8000)
6245 Harlan Street, Arvada. 3 beds, 2 baths. Needs upgrades. Buy for $230K.
770 South Dale Court, Denver. 2 beds, 1 bath. Near Huston Lake Park. Buy for $213K.
11046 Half Moon Pass, Littleton. 3 beds, 2 baths. Wood floors. 2 car garage. Yours for $310K.
10255 Carriage Club Drive, Lone Tree. 3 beds, 4 baths. Beautiful Home! Buy for $460K.
1412 Bruce Randolph Avenue, Denver. 3 beds, 2.5 baths. Needs Little Work. Buy for $295K.
6599 Depew Court, Arvada. 3 beds, 2 baths. Great location. Buy for $245K.
3340 West Aksarben Avenue Littleton. 3 beds, 2 baths. Great flip property. Buy for $285K.
1191 Tucson Street, Aurora. 3 beds, 2 baths, 2 car garage. Buy for $190K. Price Reduced!
225 South Newton Street, Denver. 2 beds, 1 bath, 1 car detached garage. Yours for $170K!
675 South 2nd Avenue, Brighton. 3 beds, 2 baths, 1 car detached garage. Buy for $112K. Price Reduced!
6054 South Perth St., Centennial. 3 beds, 3 baths, 2 car garage. Buy for $225K.
QUOTE OF THE WEEK: Act as if what you do makes a difference. It does. – William James