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WHAT’S HOLDING YOU BACK?
Well, what is it? If you’re like me, the question is better phrased: “WHO’S HOLDING YOU BACK?” …and the answer is “ME!” I take responsibility for my actions and lack of actions. I also know that life is both a journey AND a process and not to be too hard on myself…looks like I will schedule another SKI day in Summit County on a WEEKDAY. Wow, that’s so hard for me when I “SHOULD” be working…make that “could” be working…OK, I’ll spend an hour or two crunching numbers, reading e-mails, and making phone calls….It’s hard to shut off the faucet when it runs strong and long.
Should we be concerned with the depends-upon-who-you-talk-to DEPRESSION? What about inflation vs deflation? Read Harry Dent’s comments that these are not “good” times, that we’re in for more downs than this weekend’s Super Bowl. Dent has a most interesting CHART that takes you through a typical housing LIFECYCLE as your dwelling follows your lifestyle, family and age.
REAL ESTATE WEATHER REPORT
On a local real estate level, the Denver Business Journal links unemployment with higher apartment vacancy rates. Note that this is apartments, not single family homes, 2-4 plexes or condos (that report will come later). Still, the article reports that average rentals are at $888/month, up $28/mo from last year. We continue to see signs that indicate a stable rental market that will adjust to the downturn we see every winter. Who wants to move in January unless they HAVE TO? I cannot express the JOY (sarcasm intended), so I won’t, I experience clearing vacant property sidewalks of snow, both rentals and soon-to-be-sold properties. It’s much easier to have someone else do it for you…for a price. Snow is less predictable than growing grass. When I flip a winter house I don’t worry or spend much time and money with landscaping; everything is either white or brown. The trade off is keeping the heat up and pipes thawed.
If you’re curious and wonder what is the Neighborhood Stabilization Program and how it could affect what you do, check the site out and link away! What would YOU do if you had $6M and you HAD to spend it on distressed real estate and fix it up and sell it AND NOT MAKE A PROFIT? How will this affect property values? I can see how our local governments could do this FOREVER (OK, these are government agencies so there will be inefficiencies and waste and inaccuracies and overspending repairs), at least I could, especially if I could not make a profit and had to keep reinvesting and reinvesting until some federal, state or local entity says “STOP!” Looks like we could REVITAILIZE the heck out of EVERY neighborhood. Let’s hope logic and common sense prevail and this is done carefully and with a POSITIVE impact. It COULD happen!
Is it just me or has this year already clicked one month at light-speed?
INVENTORY
OK, if you haven’t already, click on and bookmark the wholesale section of our WEBSITE, and tell me if you see any themes or trends (no, it is not TWEET, TWEET, TWEET)? Let the puns begin. Our inventory flies in and out, some stealth, some squawk. No, it’s not foul weather. We have a condo, a duplex and lots of single families, something for everyone. I think that’s what economist and advisors were talking about when they recommend that you DIVERSIFY YOUR PORTFOLIO: a condo here, a tri-plex there, yadda, yadda, cheep, cheep.
16772 E 8th Av, Aurora. 6 bedrooms (3 non-conforming), 2 baths. ½ mile to Buckley AFB. Buy at $72K (CHEAP), fix around $20K. Great Rent to Own, rental or flip. Check out the basement wood fireplace. This is an REO that could cash flow over $500/month.
1185A S Fairplay Cir, Aurora. CONDO. 3 bedrooms, 1 bath, 1-car attached garage. Low HOA. Buy this at $49.9 and fix at $5K. This HUD should cash flow $300/mo. Can you say CHEAP? CHEAP and CASH FLOW.
6740 Locust St, Commerce City. 3 bedrooms, 1 bath, 1 carport. CHEAP. Buy at $48.8K and fix at $14.5K. Nice little house. Great rental or cheap flip. This is a HUD.
7000 Newport St.,Commerce City. 3 bedrooms, 1 bath, and garages for 5.5 cars on ½ ACRE. Buy at $67.5K and fix around $15K. How many cars can you park on this property? This works well as a Rent To Own, Flip or a straight rental. This was a foreclosure and it’s CHEAP.
2200 Elmira, Aurora. 5 bedrooms, 1.5 baths, 1-car detatched garage. Check out the cute doll house in back! Buy at $59K and fix at $19K. Great rental, great cash flow and it’s a HUD. Yeah, this too, is CHEAP.
2842 S Lincoln St, Englewood. 3 bedrooms, 2 baths. Great neighborhood. 1 block from Swallow Hill Music Center. Buy at $110K and fix at $25K and that includes $15K in structural/foundation work. Great flip, great value, great HUD. You have to be up to the challenge with this gander!
3137-3139 W Virginia Av, Denver. Almost Heaven (sorry, John Denver). Over/Under DUPLEX, 3/1 up and 2/1 down. Buy at $83.5K and fix at $21K. You can even repaint it if you don’t like PINK (no, it’s not salmon or flamingo) This raised ranch is properly zoned and utilitied (didn’t think that could be a verb, did you? John Stuart Mill and his band of Utilitarians are rolling over…) and this HUD is CHEAP.
4890 Eagle St, Denver. Montbello. Newer Montbello. 4 bedrooms, 2 baths and 2-car attached garage. Buy at $79K and fix at $12-15K, depends upon your rehab and furnace. Check out Zillow’s estimate for a chuckle. By comparison, this is CHEAP and it’s an REO. Montbello is one of the investor communitie’s HOTTEST MARKETS.
That is it for now. We have a couple of live ones waiting in the wings, and they’re cheap (don’t let the feathers tickle you). If you don’t like what you see, call us with what you want (wring us up).
If you have done business with us before, you know how important BIRDS are to us (Bluebird, Pelican, Raven, et al). INEXPENSIVE is PC, CHEAP is not, unless you’re flocking to see our inventory.
Happy House Hunting and
Bon Homepetit!
John Fisher
www.happycanyongroup.com
303 338-8000
QUOTE OF THE WEEK:
We can aspire to anything, but we don’t get it just ’cause we want it. I would rather spend my life close to the birds than waste it wishing I had wings. ~Eli Attie
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FEAR OR HOPE
Well, what’s it going to be, America? Our new president asked that just four days ago. Our financial institution house of cards has literally collapsed. Will we recover? How will we recover? Unemployment is creeping up. Microsoft plans to lay off 5000 workers over the next 18 months. Here’s an interesting “tool:” Forbes’ LAYOFF TRACKER. Why is it easier to FEAR than HOPE? Why does the media stress BAD NEWS? Here’s an interesting discussion of why the media is biased. So it comes back to half-full or half-empty. I, for one, would rather be half-right than half-wrong. Our real estate industry is fraught with negativity. You can’t do this, you can’t do that! Not “how can we make it happen” and “can I help you?” I do my best to surround myself with positive people; people who can GET IT DONE, who can figure out a way to make it happen. Life is too short. I am glad I am still young!
There are a few silver-lined clouds… Fixed mortgage rates hits record low of 4.96 percent. Here’s a chart on Colorado Mortgage rate vs. National rate. Lender loans are alive and well, especially for the owner occ with good credit.
Where’s a good place to put your money? A mattress? At least you won’t lose any money (although security becomes an issue). Or REAL ESTATE? Yeah, it sounds like a broken record…you, too, can amass wealth and create your fortune if you follow these three basic principles:
1. HAVE A SOUND PLAN with SOUND SYSTEMS (no, not a Bose Speaker System…).
2. BUY LOW, SELL HIGH.
3. TAKE ACTION. (STICK TO THE PLAN)
Easy enough, right? Like the fool-proof way to lose weight (with credit to Marshall Sylver): EAT LESS, MOVE MORE! But, you know, it works! But it’s not for everybody. Neither is real estate investing. If you’ve read this far, you know I have a plan. I have more than one. I have SYSTEMS. They work. They’re SIMPLE AND I TAKE ACTION.
REAL ESTATE WEATHER REPORT
This will be a new weekly feature. I could lather cliché after cliché and tell you that SEVERE THUNDERSTORMS are coming to the Midwest and East Coast…but you probably already know that. Also that there is a SEVERE DROUGHT in California, Arizona and Nevada…but you probably already know that, too. So, how’s the RE WEATHER in DENVER? Look around. From a commercial view, I see a few more strip mall vacancies, Circuit City will shutter by spring. From a residential perspective we see investors biding over foreclosures (been to a county auction?), over REOs, over HUDs. Some of the bidding wars get heated. “HIGHEST and BEST” is a battle cry. If you haven’t heard it, listen!
Sunny skies ahead…more lather, but I am optimistic that our real estate marketplace has reached bottom in many of our local markets. OK, it’s still tanking in a few….rentals are a bit soft with the winter cold (hard to imagine after a few 70 + degree days…oh, weather reports again!), but, overall, rates are stable, esp for single family homes. Our residential new construction is non-existent (I know, that’s an exaggeration, not by much, however). That, too, will change with the seasons…although it may take a couple seasons.
Opportunities abound. Flips are happening. Buy and Holds still work well. We know investors who are cash flowing well…it’s plans, it’s systems. If you’re tired of being a LONE RANGER, call us, e-mail us, ask us to help.
INVENTORY
We’re finding great deals. Deals that can flip. Deals that rent. Deals that cash flow. Check them out. REOs and HUDs. Read below for “unlisted deals.” Call us for more information…we can provide our fix up details, for example. Just ask! If you haven’t already, bookmark our WEBSITE so you can check for new deals and updates.
5553 Blackhawk Way, Denver. Montbello. 5 bedrooms, 2 baths, huge lot. Buy at $63K and fix at $17K. You could buy and hold and cash flow $600+ per month (call us if you need convincing!). This is a HUD.
6740 Locust St, Commerce City. 3 bedrooms, 1 bath, 1 carport. CHEAP. Buy at $48.8K and fix at $14.5K. Nice little house. Great rental or cheap flip. This is a HUD.
16772 E 8th Av, Aurora. 6 bedrooms (3 non-conforming), 2 baths. ½ mile to Buckley AFB. Buy at $72K, fix around $20K. Great Rent to Own, rental or flip. Check out the basement wood fireplace. This is an REO.
1185A S Fairplay Cir, Aurora. CONDO. 3 bedrooms, 1 bath, 1-car attached garage. Low HOA. Buy this at $49.9 and fix at $5K. This HUD should cash flow $300/mo. Can you say CHEAP?
2200 Elmira, Aurora. 5 bedrooms, 1.5 baths, 1-car detatched garage. Check out the cute doll house in back! Buy at $59K and fix at $19K. Great rental, great cash flow and it’s a HUD.
2842 S Lincoln St, Englewood. 3 bedrooms, 2 baths. Great neighborhood. 1 block from Swallow Hill Music Center. Buy at $110K and fix at $25K and that includes $15K in structural/foundation work. Great flip, great value, great HUD.
MORE. Yeah, we have a
· duplex in Park Hill
· 6/2 in old Aurora
· 5/2 in East Denver
that we cannot post until we get the rest of the paperwork. Call us for more information. We encourage you to check our site often as properties come and go under contract frequently. Please note our FOR SALE properties mean that we have them Under Contract with the seller. Our UNDER CONTRACT properties are ones that investors have committed to purchase and rehab. Once they close, we remove them from our site.
Happy House Hunting!
Bon Homepetit!
John Fisher
HappyCanyonGroup.com
303 338-8000
QUOTE OF THE WEEK:
The ancestor of every action is a thought. ~Ralph Waldo Emerson
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HALF FULL OR HALF EMPTY?
Yeah, are you an optimist or a pessimist? Your choice. Or are you asking “does it really matter?” If that’s you, it really doesn’t matter. Me? I’m restless. I want more. I want to make a difference, to make things happen, to learn more, to ask how or why. As the late Warren Zevon said and sang (if you could call it that!): “I’ll sleep when I’m dead.”
Or are you satisfied the way things are? Complacent? Mediocre? It’s OK if you are, just accept it. Don’t say “I want” or “someday I will…” My “old” coach, Richard Flint, says it best “Behavior Never Lies” and “It’s not what you say, it’s what you do” that matters. Take action. Don’t feel you have to do “it” alone. Don’t be a “lone ranger.” It’s OK to ask for help. It’s OK to want more, to be more.
OUR MARKETPLACE
So what’s happening in our Real Estate Universe? What trends are we seeing? The soon-to-be only local newspaper says Denver’s home-resale market shows signs of life. Unsold home inventory is down over 20%. Same paper, same day, reports that now may not be best time to buy a new home, what with job loss, business closures, and market volatility. Ouch!
Need help in “picking the next HOT neighborhood” in Denver?
The Post also had an update on Denver’s old sewer systems this week. Check it out.
BREAKFAST CLUB
Hey, our Saturday Morning Breakfast Club has been called “the best little REIA in town.” We’re small and don’t compete with anyone. It’s a great way to feed your mind. No speakers, no B.S. We talk about what’s important to us, what’s HOT, what’s NOT, what works, rent trends, what flips. No subject is taboo…and we NETWORK. We’ve been doing this for over FIVE years. Saturday, January 10, Perkins, Colorado Blvd and Buchtel, just off I-25, 0700-0900 (that’s AM). What a great way to start your day, your weekend. See you Saturday!
Oh, and don’t forget, if you’re not fully ENGAGED in this business, we can help. Our Follow Me Denver Program “forces” you to rehab a house. If you don’t “do” a house, you don’t “do” the program! Take action. Make it happen!
INVENTORY
Here’s the rundown on what we have. Call us for fix up breakout or for more information on these wholesale properties.
9300 Palo Verde. Thornton. 5 bedrooms and 2 baths. Buy at $86.5K and fix at $19K. ARV $160K. This works well as a flip and will cash flow well as a rental. Investor choice!
2200 Elmira, Aurora. 5 bedrooms and 1.5 baths. Buy at $59K and fix at $19K. ARV $128K. Cheap. Can flip or rent with huge cash flow ($500/mo or more).
1185A S Fairplay Cir, Aurora. Condo. 3 bedrooms, 1 bath, and 1 car garage. Buy at $49.9K and fix at $5K. ARV $85K. Why this condo? Easy fix, little maintenance, $300/mo cash flow estimate on a $55K investment, HOA is $150/mo.
2246 Elkhart, Aurora. 5 bedrooms, 3 baths, and 2 car garage. Buy at $103K and fix at $30K (includes new siding and windows). ARV $200K. We just revised the fix to include new siding and windows. “New” houses sell well!
2842 S Lincoln St, Englewood. 3 bedrooms and 2 baths. Buy at $109.9K and fix at $25K (including $15K structural). ARV $180K.
4810 Clay St, Denver, near Regis. 3 bedrooms, 1 bath, and 1 car garage. Buy at $73K and fix at $15K. ARV $140K. This just in. 6 blocks from Regis University. Flip it or rent it!
16772 East 8th Av, 6 bedrooms, 2 baths and 2 car detached garage. Buy at $72K and fix at $22K. ARV $145K. Brand new. Near Buckley AFB. Great LTOP!
Check our wholesale site often, we get new properties every week and they come in most anytime.
Bon Homepetit!
John Fisher
www.HappyCanyonGroup.com
www.FollowMeDenver.com
303 338-8000
QUOTE OF THE WEEK:
You don’t drown by falling in the water; you drown by staying there. ~Edwin Louis Cole
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Greetings investors! Wow, what a year. Lots of changes. Lots of opportunities. Did you take advantage of any? This is a great time of the year to reflect on what you’ve done and where you’re going. Resolutions? Only if they will help you stay on target. Business? Personal? Social? Family? All are areas we need to address and balance out. How about you?
USA Today reports mortgage rates near record low keep demand at 5-year high. 5.03% on a 30-year fixed, the lowest since 1971. We’ll see if interest rates continue to fall as expected. Standard & Poor/Case-Shiller reports (click at your own risk, extraordinary numbers, extraordinary report!) Denver at number 3, just behind Dallas and Charlotte. The Denver market only declined 5.2%. Phoenix sits at the bottom with a year decline of 32.7% (earlier this week, I inspeted a triplex in Phoenix on ½ acre I can buy for $85K, including the dozen 60 foot palm trees!). Overall, as a country, rates declined 18%. Count our blessings! CNN Money rates the worst 10 USA markets for 2009, 8 in California.
What do we expect in Denver? If mortgage interest rates remain low or plunge further, expect more retail home buyers. Expect more investor buyers, too. Our government continues to search for “booster shots” to help consumers keep their homes, stay employed, to keep our economy vibrant (or to make it so!). The fix and flip market appears to be recovering in select Denver markets. While rentals appear to have stabilized, they remain strong. What’s not to like?
Now’s a great time to think about rehabbing properties. We can help. Check out our Follow Me Program. It works!
Our inventory is up. Deals abound! THEY CAN MAKE YOU MONEY! Here’s what we have….
9300 Palo Verde, Thornton. 5/2. Great deal in Thornton. Great value for a flip. Buy at $86.5K and fix at $20K , flip at $150-160K. Will cash flow well as rental, too. We don’t have to close until later February. This is a HUD.
2200 Elmira, Aurora. 5/1.5/1. Great fix up. Buy at $59K and fix at $20K, strong rental $1100-1200/mo. Can flip, too. This is a HUD.
1185A S Fairplay Cir, Aurora. 3/1.5/1 condo, main floor. Cheap. Buy at $49.9 and fix at $5K. Rent this at $1000/mo and see $300-400/mo cash flow or flip this. Great value. Yeah, this, too, is a HUD.
2246 Elkhart St, Aurora. 5/3/2. Buy at $103K and fix at $20K. This shows very well INSIDE. Check it out: 2588 sq feet tri-level with a basement. HUGE lot, lots of extras, check the assessment ($238,789)! Check the blue toilet and tub! This is an REO.
2842 S Lincoln St, Englewood. 3/2. Buy at $111.5K and fix at $25K including $15K in structural repair. Great neighborhood, great value. Fix and Flip or Buy and Hold (this is assessed at $236.3K). This is a HUD.
5336 Eagle St, Denver. 4/2/2. Montbello. Buy at $65K and fix at $20K. Flip this at $130K or rent at $1200-1300/mo for a $450+/mo cash flow. Montbello is a HOT neighborhood. Fix estimate includes legal egress. This is a HUD.
That’s it for now. Lots of great deals for flippers and landlords. Call or e-mail us for access or more information. Bookmark our website if you haven’t already! Welcome to the NEW YEAR! Make it count!
Bon Homepetit!
John Fisher
Happy Canyon Group, Inc.
303 338-8000
QUOTE OF THE WEEK:
Good resolutions are simply checks that men draw on a bank where they have no account. ~Oscar Wilde
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