I had the benefit of attending a conference this week and seeing Kimball Musk speak. At the end of his presentation, he said those words “Remember, if you’re not doing what you love, it’s your fault.” Wait, what? He was speaking to a bunch of entrepreneurs, so naturally you would think “duh.” Why would you work in a business that you CHOOSE, that you CREATE, if you don’t love it? You might ask the same thing of anyone, employee or owner. Take a step back and ask yourself that question. Maybe you do love it, great! But what if you’ve spent years of your life doing this, and you’re just getting by? Or even hate it? Do you blame someone else for where you are? Unfortunately, many people are willing to make it work because it “pays the bills” or “affords the mortgage.” Many won’t even ask themselves this question unless something radical knocks them out of their rut. Maybe your core values or priorities have changed and your motivation has thus morphed. Maybe it’s just a tweak of HOW you do something that needs changed. You have control and the ability to change it – whatever “it” is. You know your passions and goals – don’t ignore them. In the end, we’re not designed to “just get by” – as the band Casting Crowns says “we were made to thrive.” So, do you do what you love?
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):
- West Helena, AR 3/2 for $7.5 (IE)
- Fairfield, AL 4/2 for $17K (IE) Over 2,400 sqft!
- Toledo, OH 3/1 for $4.4K
- Waterbury, CT 4/1.5 for $24.3k (IE)
Wondering how busy the city is with permits? Denver issued 9,250 permits in September, 2015 40.7 % more than September, 2014. I would say that if you are reading this, there’s a good chance you know how much more difficult it can be to get or to see a permit through – this helps explain it. The numbers were the interesting part.
A step in the right direction for developers! The construction defect law for developers has been a real detriment to the development of condos in the city. The statistic in the article says we’re down to 4% of units coming onto the market are condos, compared to 25% in 2007. I can’t blame the developers, who wants to deal with millions of dollars of class action lawsuits? Mayor Hancock appears to be putting a best foot forward to make it more difficult for class action lawsuits to be filed. How would something like this affect the market? Less apartments? More affordable housing to purchase? Could it help with stability of rent and price surges in the market?
When the Denver real estate market keeps coming at you, here’s a cute story to show you how bad (or good) it could be. It’s fun to see what the same amount of money gets you in other markets (maybe we’ll have a HUD Steal section on this in the coming weeks). Well as it turns out, it doesn’t get you much in San Francisco.
The latest Mortgage Rates: 30 Year fixed at 3.62% and 5/1 ARMS at 2.73%! 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
I hear people referring to the seasonality of the market right now. It’s true that we’re not at the best point in the sell side of the market and that prices are dipping a little. It sounds like we’re also seeing little longer days on market. All-in-all about what we expect for this time of year. Traditionally, showings will drop off, but a higher percentage of people viewing houses are serious, not looky-loos. If you’re getting showings and no offers, it may be time to talk to your Realtor!
We’ve started 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 tomorrow, October 10th. We’ll see you there!
INVENTORY: Inventory flows: CHECK ‘EM OUT!!! More coming soon!!! Call 303 338-8000
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.
2227 South Dexter Street, Denver. 2 beds, 1 bath. Great flip property. Buy for $235K.
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.
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: My mission in life is not merely to survive, but to thrive; and to do so with some passion, some compassion, some humor, and some style. – Maya Angelou