This is my favorite “slide” concluding a business presentation. So often we get caught up in the minutia and details we forget the message, our message. What are we really saying? What do we really want? Why can’t we just put it out there? Some people are worried about how they’re viewed by others and want to be “gentle.” “Consultative Sales” was an old buzz word to “soften” the stigma associated with being a “sales person.” We are all “sales people,” whether we know it or not. Some of us associate “sales” with the “tawdry” part, the stereotypes; used car salespeople, e.g., and Woody Allen’s idea of hell (Take the Money and Run): 24 hours in prison solitary confinement (4X4X4 metal box) with an insurance agent; the pressurized hard sell. Basic wants and needs revolve around sales. Get over it! Understand it! Embrace it!
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 insurable, OK, for FHA loan as is);who says there are no bargains out there? These HUDs may “go” quickly:
- West Helena, AR 3/2 for $10K (IE)
- Sidell, IL 4/2/1 for $8K
- Richmond, IN 3/1 for $10K (IE)
- N Fond Du Lac, WI 4/2 DUPLEX for $42K (IE)
- Lawton, OK 3/1.5/1 for $10K
Findthebest.com gives us 10 states where houses sell the fastest (check out the heat map and note where Colorado lands):
10.Oregon (50 Days on Market)
9. Idaho (48 DOM)
8. Georgia (48)
7. Illinois (46)
6. Michigan (43)
5. California (40)
4. Minnesota (40)
3. Washington (40)
2. Texas (38)
1. COLORADO (28)
RealtyTrac’s Home Flipping Report: 3 potential land mines for flippers. Average gross profits were $70.7K. Sounds good, right? It ignores commissions, fix up costs, holding costs, and the cost of money! Check their best markets & yields. Flipped homes fall to 4.5% of all SFH sales in 2Q2015 despite increase in average flipping returns. RealtyTrac reports just over 30,000 SFH were flipped in 2Q vs 5.5% previous quarter and 4.9% a year ago (as a comparison, peak flip was 8% in 1Q2006). Pay close attention to data less they support one of my favorite Real Estate Commandments: FIGURES DON’T LIE, BUT LIARS FIGURE. You can prove anything!
3 ways to write a winning offer from Trulia:
- Carefully consider your approach
- Weigh the pros and cons of your repair requests
- Don’t be swayed by emotions
FYI: Highest State Closing Costs: (national average is $1,847)
- Hawaii ($2,163 average)
- AZ ($1,969)
Just for grins…check out these luxury dog homes (the Airstream gets my vote!).
Because you didn’t ask: here’s the top 10 foreclosure states as of July 1, 2015:
- South Carolina (1:959)
- North Carolina
- New Jersey
The latest Mortgage Rates: 30 Year fixed at 3.83% and 5/1 ARMS at 2.83%. 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
The HEAT continues. 90 degree days galore, nonetheless, it beats the 100 we haven’t hit for 2 years! Hey, this IS the weather report, after all! So when does the BIG CHILL set in? Not yet. Note our Wholesale Inventory has something for everyone in Colorado Front Range. Run your numbers, do your diligence, then make a decision (play or pass)! Some fear our market has softened already (can you hear the boy cry “wolf?”); I believe it’s stratos-sized (segmented from the ground up), leaving us a wide berth of options AND opportunity. Name your strategy and there’s something that can fit. Obviously, some deals are better than others. Big factors that affect your bottom line are COSTS: of money, closing, rehab, materials, etc. Know your market! Oh, and do NOT forget tomorrow morning’s Breakfast Club! We expect a full house as we network around Front Range Colorado with what’s hot, what’s not, who’s buying, what’s selling (e.g., $500K+ SFH sales are sluggish), spiraling rent rates, yadda, yadda.
Here’s the 10 safest “big” cities in Colorado: (based upon density, unemployment, home values, income, education and crime) Windsor? Big city? Ah, figures…
- Castle Rock
TOMORROW MORNING: John Fisher’s Breakfast Club. Be there. Come early. Have some questions ready! See you there/then at Poppies Restaurant off I-25 and Colorado Blvd.
YOU MUST TAKE THIS WORKSHOP (even if you have already), if you’re in this business. Why? Basics, foundation, labor cost estimates, material cost estimates, home value estimates (ARV) to name a few of the items to be covered in this workshop. Oh, and Sunday is FIELD DAY where we view 4-7 properties! Plan to attend August 15-16: REHAB ACQUISITION WORKSHOP. Are you prepared? Are you confident you know what you’re doing? Can you estimate fix up costs and after repair value? Registration and information HERE.
Coming soon: the Heart of Wholesaling, September 26. Book it!
COURSE CORRECTION COACHING CALLS. WOW, what’s that? We’re looking for people looking for us! Our Invest Success Mentorship Program is ongoing. 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. Oh, and we’re just introducing our Graduate Program (just for our mentorship graduates!) 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. Thank you for helping us help you!
INVENTORY: Inventory flows & goes: CHECK ‘EM OUT!!! More coming soon!!! NOTE: if you don’t reach us by phone, text us at 3035641680. Happy Hunting!
9620 W 26th Avenue, Lakewood. 3 beds, 1 bath, large lot. Across from Crown Hill! Buy for $195K.
2464 Astrozon Cir. Colorado Springs. 2 beds, 1.5 baths, 1 car attached townhome. Buy for $71.4K. Terrific rental. FHA “as is” appraisal of $84K.
1263 Gumwood Dr, Colorado Springs. 4 bedrooms, 2.5 baths, 2 car attached. Buy for $207K.
8390 Ulster St, Commerce City. 2 beds, 1 bath, 1 car attached garage. Fix up to a 4/2. Mud in basement is a bonus. Buy for $115K.
9990 E Walsh Pl, Denver. 3 beds, 2 baths, 2 car attached garage. Popular SW Denver! Buy for $342K.
2551 S Pearl St, Denver. 2 beds, 1 bath, 1 car detached garage. Super location: Harvard Gulch! Close to DU. Buy for $285K. Good lot size, possible addition to add more value!
1855 S Gilpin St, Denver. 2 beds, 2 baths, 2 car detached garage. High demand University Park. Close to DU, etc. Again, potential for addition. Buy for $355K.
6832 Moore St, Arvada. Brick ranch. Unfinished basement. 3 beds, 2 baths, 1 car attached garage. Buy for $285K.
4878 Depew St, Denver. Located in HOT Berkeley! 4 beds, 2 baths, 2 car attached garage. Buy me for $340K.
2506 W 105th Ct, Westminster. 3 beds, 3 baths, 2 car attached garage. Unfinished basement. Meadowwood. Buy for $235K.
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!
8418 Allison Ct, Arvada. 4 bedrooms, 3 baths, 2 car attached garage in popular Arvada! Buy for $260K.
7058 S Chapparal Cir West, Centennial. Buy this 4 bedroom, 4.5 bath, 4-car garage “mansion” for $540K. Great numbers. Great location on over 1 acre close to DTC! It’s luxurious, captivating, impeccable….
QUOTE OF THE WEEK: I have always said that everyone is in sales. Maybe you don’t hold the title of salesperson, but if the business you are in requires you to deal with people, you, my friend, are in sales. ~Zig Ziglar