Read the full newsletter here: 2017.07.21 – Friday Flyer – You’ve Got This!

“Flip a house? How hard can it be? I know what I’m doing. After all, I’ve watched the shows. I’ve done a few home projects of my own. I know a contractor (or I am a contractor).  The concept is easy to understand: You buy a house, fix it up and sell it for a profit.  I got this.”

It’s almost laughable if it wasn’t true. The “how hard can it be?” attitude, when it comes to real estate investing is precursor to the horror stories you hear about someone who lost money. These stories push people to the other end of the spectrum.

“I could never do that. I don’t have any experience. I’ve seen people lose money on those shows. Why would it be any different for me? Nope! Not even going to consider flipping a house and I’m going to warn others not to either.”

The savvy investor is somewhere in the middle. They recognize the need to educate themselves at the beginning and on a continual basis. They are cautious and say no to bad deals; while at the same time, preparing themselves to say yes to the good deals. 

Most successful investors have had or find a good mentor. They save time, money and headaches by learning from the successes and failures of others. They say, “With the right guidance, I can have the kind of success I see others are having in real estate. I’m willing to listen, learn and follow through.”

Their mentor says, “Follow me. You’ve got this.”

For your reading pleasure

Where is the best place for first-time home buyers to live? A WalletHub study ranked 300 cities in the nation based on affordability, real-estate market and quality of life. 5 Colorado cities ranked in the Top 30: Thornton (9), Greeley (12), Arvada (17), Fort Collins (26), Colorado Springs (28).  While their affordability was lower than other cities, quality of life and real estate value brought up their scores. The worst place for first-time home buyers in Colorado was Boulder (232). (However, most the worst cities were located in California.)
Feeling the inflation? We are. We had to raise the price on our breakfast meeting starting in August. Apparently, this is consistent with all dining establishments, which saw a 4.6% increase from last year (likely due to the recent minimum-wage increase passed last year). Overall, inflation in the Denver Metro area is rising 3.1%; however, living expenses are up by more. Rent costs are up 4.9%, owning a home is up 5.7%, electricity is up 6.6% and natural gas heating is up 9.3%

 

See you soon,

Evania Ku
303 338-8000

 

QUOTE OF THE WEEK:  

“The fun thing about getting older is finding younger people to mentor “    
~Mike May