Fisher Friday Flyer – October 2nd, 2015
Thank you to everyone that came in support of John and his family at the funeral service this last weekend, we had standing room only. I know there were so many more who wanted to attend, but were not able to. It is a testament to the lives he touched. It was a wonderful service in which we were able to remember John and the legacy he left. Part of that legacy is John Fisher’s Breakfast Club; we will be continuing that legacy next Saturday, the 10th, so mark your calendars. Details will be sent out as usual.
This is a quote often credited to the famous and late, Yogi Berra. It’s bound to make you stop and think. Who knows, maybe you need one for dinner (I think the allocated response was “if it’s silver, I will”). But taking a fork may also bring up some moral dilemmas if it’s not yours. Anyway, forks are the tree makers in life – they come up every day, they branch us. Some are easy -burrito or pizza for lunch (do you even need a fork)? Slacks or jeans (both appropriately fork shaped)? Ice cream or cake (you can eat ice cream with a fork if you’re fast enough and can take the pain)? Of course, these are trivial and not worth the time to stop and analyze, more like an oyster fork. But what about those bigger forks? You know, trident sized, sea spearing forks? Forks that matter. The point of all this pointed talk (I’ve never run into a dull fork) is how much do you analyze? Is the analysis proportional to the size of the decision? Or should you just “take it”? Sometimes any move is better than sitting on the fork – which can be quite painful.
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! Still available, but why?
- Detroit, MI 2/1 for $4.4K
- Anderson, IN 2/1 for $4k
- McClure, IL 3/1 for $7K (IE)
Here’s a list of the top and the bottom five markets for the percent of appreciating and depreciating homes. Baltimore takes the cake with the highest percent of houses depreciating at 48.1% followed closely by Philadelphia at 43.4% Denver’s at the top of the list for appreciating homes, which may not surprise you. But here’s what I would like to know – where are the 2.2% that are not appreciating? Maybe this is the statistical allowance for error…
One of the greater joys that come from real estate investing/entrepreneurship is that many of us don’t have a 9-5 and thus don’t have to commute during rush hour. Not only that, but for many fix and flippers or landlords we can “choose” our office – don’t want to drive an hour? Find houses in your “’hood”. Some have stepped out of this thing so un-affectionately called “the rat race” and don’t need to be commuting to work, or work from home, or choose different hours to be on the road. Count your blessings (and apparently your house payment)…
The latest Mortgage Rates: 30 Year fixed at 3.63% and 5/1 ARMS at 2.69%! 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
Denver’s market is still a “seller’s market” but there is some seasonal slowing. Prices have dropped month-over-month – pretty typical seasonality (we’re still up double-digit % appreciation year-over-year). Also, we’re heading into the best time of the market to buy, which as logic would tell you, is the “worst” time to sell. Although this is the case, I wouldn’t stray from listing a house. One Realtor I know has said the upside in the holiday season is that many family members are in town and they may be using that time in order to look and to buy a house.
Can’t find a deal? Call your friendly neighborhood wholesaler. How does that work? The Heart of Wholesaling is directed towards both wholesale wannabes and wholesale wanna dealees. We’ll even analyze a few local wholesale deals to determine value, margin, fundability and sellability. We’ll share lots of content and information. Click HERE for more information or to register.
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 October 10! We’ll see you there!
INVENTORY: Inventory flows: CHECK ‘EM OUT!!! More coming soon!!! Call Us! (303 338-8000)
8368 Chase Drive, Arvada. 3 beds, 2 baths, 2 car garage. Buy for $305K.
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.
2551 S Pearl St, Denver. 2 beds, 1 bath, 1 car detached garage. Super location: Harvard Gulch! Close to DU. Buy for $257K. Price reduced! 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: Never believe that a few caring people can’t change the world. For, indeed, that’s all who ever have. – Margaret Mead