All Forum Posts by: Norberto Villanueva

@Josh Barnett - With too many variables left unanswered, it's hard to say. For example, a search for $2,100+ rentals in the MLS returns 23 active listings, 245 leased in the last year. A change to search for those that are less than 1,900 sq ft returns 343 leased in the last year, 17 in active status. Interestingly, there is one that came on the market 2/6/2018 with an asking rate of $2,300 a month. Having sold for $160k in 2005, it has a current value range estimate of $203k - $253k.

I suggest taking a different approach, which is to back into buying a home that makes sense based on your purchase criteria and exit strategies. By carefully comparing purchase price to market sales and rental values, you are relatively assured of making the best investment decision possible going in. 

BTW, with an analysis of needing $2,100 in rent for a $300k purchase being spot on, you are definitely on the right track.

All the best! 

HI Kaylyn. First, thank you for your service. Second, way to think ahead of the transition out. Lastly, with all the tools and resources needed to analyze, help buy, fix and flip or hold real estate I've helped an investor (or two :) make good deals happen. Actively seeking hungry Acquisition Managers to work on a pay for performance (commission) model, I'd welcome the opportunity to connect. 

@Phillip Bicker - we are one of the largest cash buyers along the Front Range. Please contact me with details.

Here is an excerpt from the link @Fausto Carosella provided which I interpret as excluding an offer to buy: "

3. What calls are covered?

The do not call provisions of the TSR cover any plan, program or campaign to sell goods or services through interstate phone calls. This includes calls by telemarketers who solicit consumers, often on behalf of third party sellers. It also includes sellers who provide, offer to provide, or arrange to provide goods or services to consumers in return for some type of payment as part of a telemarketing transaction.

Thanks, Frank!

I just attended their "free" Funding Tour in Seattle. Mostly hype and VERY little substance, I was quite disappointed to find their rates and terms are a lot worse than what I already accomplish as a money broker. 

Much like many of the so-called gurus, the cost for their "training" will eventually run into tens of thousands of dollars. Using high pressure sales techniques, they hock course tracks that include the Private Money Broker Certification, each starting at a "low" price, with an upsell to a higher level (price), leading up to "master" levels for much, much more. Touting tools, resources, even sooo many leads, I asked a few of the so-called master level brokers in attendance how it was working for them to find none I spoke to had actually succeeded at making it work. Of course, this may be attributed to an individual's lack of effort but, none? And not that I would use it, but I have yet to receive the $250,000/$500,000 pre-approval they promised for all in attendance.

Glass half full, they did provide certain meals, a couple of cocktails and a guided bus tour of investment "opportunities", which they applied considerable pressure for offers on, one with a suggested "ARV" that was at least $100k above highly reliable AVM (automated valuation models) I have access to.

Overall, I say stay away, unless their Funding Tour comes within driving distance and then only so you can see for yourself. 

@Shaniqua Dupree - thanks for posting. You let the cat out of the bag...Colorado Springs is HOT! Consider the time our sales to list price ratio has hovered above 100%, the truth is it has been since at least April 2016 and shows no signs of decline in the near future. 

Seems you are looking to enter the game as a flipper, where deals that pencil are increasingly hard to find due the low inventory, high demand environment of the strong seller's market we find ourselves in, albeit nationwide. 

Have you considered building a buy and hold portfolio? Not for immediate gains, done correctly this strategy may serve you well with a twenty to thirty year projection in mind and will even allow you to sip umbrella'd drinks on the beach with what we like to call mailbox money after a while. It's not as hard as it seems, with numerous low to no down payment options for owner occupants, some of which include down payment and closing cost assistance.

To get started, it's important you build yourself a dream team (investor focused REALTOR ;), lender, contractors, title and insurance professionals...) who will lend their expertise and knowledge to help with your REI goals.

I hope this helps and wish you all the best!

@Nathan Patterson - thanks for posting. You might want to give @Les Goss and @Lance Phillips a "jingle".

@Tim Schroeder - thanks for posting. As far as buy and holds are concerned, my advise is to base your decision on the respective area's long term prospects for building wealth because, that's what the game is all about, correct? I'm talking things like population/employment/infrastructure growth - which of those markets can you project will fare best, twenty - thirty years down the road? 

I recently tested a listing (and flip) of mine on AirBnB. A nice though somewhat nondescript, bread and butter rancher in Central Colorado Springs, I put it up on a Thursday. By the next day we had four inquiries and two reservations which I had to cancel due to my partner's lack of interest in holding long term. 

The potential is there. Find the path of least resistance where STRs are concerned and get some!

I hope this helps and wish you all the best!

@Michael Bartlett - thanks for posting. Certainly cause for concern, without knowing more about I'm not sure the effect or how strong a detractor these so-called lower income apartments will have. This said, Colorado Springs is filled with pockets in which appreciation still happens. 

Yes, rent your current home and buy up north. This way, you continue building equity (and long term wealth) with what will apparently be a cash flowing asset. Not just that, but you get to take advantage of owner occupant financing on your purchase. BTW, repeat this process every few years and you've amassed a sizable portfolio in the retirement, pay for child's college education, travel the world worry free years ahead. 

A rule of thumb being to only refinance if and when you can reduce the interest rate by at least 1%, unless you go with an adjustable rate mortgage I don't think you'll do much better than 3.5% but, hold that latter thought, interest rates are climbing but, forget about the ARM, it wouldn't be the right move given the circumstances.

For these reasons and more, I would advise you against selling.

All the best!

@Andrew Emery - thanks for posting. May I suggest you partner up with an investor focused, licensed real estate broker instead? You get the best of both worlds this way in the sense that they know a lot if not all the wholesalers and flippers, the productive ones at least and you also get professional, licensed representation in your endeavor. Just a thought.

All the best!