Special announcement – this month’s ICOR meeting will have a special dedication to the legacy of John Fisher with a focus on raising money for his legacy funds. You can click here or go to ICORockies.com for more information.
It’s a great question to ask every day. Just don’t ask that one guy from Sleepy Hollow or maybe the chicken (no animals were harmed in the writing of this blog). But in all seriousness – where is it? If you read the news a lot, you’ll notice it’s easy to get bogged down with really negative stuff (my prayers go out to San Bernardino). How do you fight the negativity? What is your focus? In our “world” of real estate there are some different challenges right now. How do you stay focused on solving the problems and not being consumed and distracted by them? Daily affirmations? Devotions? Meditation? It’s not a bad idea to wake up every day intentionally (and no I don’t just mean a set alarm) attentive to what’s important and where to go. Just one more thing – make sure you know what those important things are and where you are going.
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):
- Milwaukee, WI 2 x 2/1 DUPLEX for $9K!
- Jacksonville, FL 3/1 for $9K
- Kansas City, KS 5/2 for $21.5K
- Dayton, OH 3/1 for $11K (IE)
Figures don’t lie, but liars figure. That’s one of Fisher’s 10 Commandments of real estate investing and apparently the case here and I was duped. If you don’t recognize the article, it was in one of the recent blogs. Maybe they aren’t lying per se, but it bodes the same in real estate, you can make your story say anything you want just a fudge here and a generous rounding there.
Denver metro Federal loan limits are being raised for conventional loans (aka the lower limit for a jumbo loan). Starting January 1st the upper limit on a conventional loan is now $458,850, it has been $424,350. This will reduce the barrier to entry in houses priced in this range and maybe create an increased demand.
That’s one heck of a flip! A gross profit of $19 million dollars on a 20 month flip doesn’t seem like a bad deal. That’s a lowly $950,000 per month average profit. Systems, systems, systems.
The latest Mortgage Rates: 30 Year fixed at 3.78% and 5/1 ARMS at 2.95%! 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
Month over month, we’ve got less actives, less solds and DOM is creeping up. How do we look year over year? There are more actives, less solds and fewer days on market. The weather report is still “good.” Those numbers are creeping more toward a “healthy” market. For the time being, still time for flippers to buy to get those houses ready for prime time in the Spring.
Our Invest Success Mentorship Program is ongoing and WE’VE OPENED that wait list and are signing up more students. Tell your friends. 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 Saturday, December 12th at Poppies. We start at 7:00am. We’ll see you there!
INVENTORY: Inventory flows: CHECK ‘EM OUT!!! More coming soon!!! NOTE: if you don’t reach us with a phone call (303 338-8000), text us at 720-345-8361.
4475 South Cole Court, Morrison 4 beds, 2 baths, 2 car attached garage. Yours for $225K!
8511 Cedar Lane, Westminster 3 beds, 1 bath. Buy for $165K!
162 West Fremont Avenue, Littleton 3 beds, 2 baths, 1 car attached garage. Buy for $265K!
9685 Orangewood Drive, Thornton 2 beds, 1 bath, 2 car garage. Buy for $230K!
4280 South Delaware Street, Englewood 2 beds, 1 bath. Buy for $185K!
12855 East Nevada Avenue, Aurora 3 beds, 2 baths. 2 car attached garage. Yours for $220K!
12095 East Alaska Drive Aurora. 4 beds, 2 baths, 2 car attached garage. Buy for $227K!
413 Baker Street Longmont. 2 beds, 1 baths, . Yours for $211K!
4374 South Atchison Circle Aurora. 3 beds, 2 baths, 2 car attached garage. Price Reduced By $23,000 to $252,000!!!
10255 Carriage Club Drive, Lone Tree. 3 beds, 4 baths. Beautiful Home! Buy for $460K!
QUOTE OF THE WEEK: The greatest legacy one can pass on to one’s children and grandchildren is not money or other material things accumulated in one’s life, but rather a legacy of character and faith. – Billy Graham