All Forum Posts by: Robert Warren

What ever the mind conceives and believe it achieves.  - Napoleon Hill.  Start with what you conceive, write it down into a single sentence.  Say it both morning and night live by it during the day.  Then you will achieve your goal.

Don't worry whether it makes sense or not. If you write it down in a single sentence then there won't be any question.

I am a wholesaler and here is what I have done to get  handle on my local market.  For the last three months I have been building my buyers list from postings in craigslist.  Lots of phone time and lots of conversations with sellers, landlords, contractors and RE agents.  I learned right off that I would have to offer my buyers a good deal and learned that no one is successfully filling that nitch in Western Colorado.

I have one of the best RE agents in the area. She was voted the best by her peers for the last two years running.  She is super investor friendly a true superstar!  She has worked very closely with me and allowed me to comp more than 40 properties last month.  More market research.

Then of  course it comes to making the sale to the end buyer.  This is the ultimate in market research because it comes down to finding out exactly what my buyers can pay for a specific property.  I then get back in there and negotiate under the inspection clause of the contract for terms that the cash buyer can swing.

Certainly not a simple or quick process.  It takes passion, persistence, honesty, and time.  Every step makes the next one easier and Ridgway Holdings is now the go to wholesaler in Western Colorado and becoming more so all the time.

This is a post I made on LinkedIN in November.  This is a simple way to increase our own performance - measure it.  The rest takes care of its self.

https://www.linkedin.com/pulse/article/20141102171...

Thanks, its good to be here and in the company of so many successful investors.

In Telluride and Ouray many locals make good money by doing vacation rentals.  Local deals happen by word of mouth.  The best strategy in these areas are reverse short sales where there is an exploitable spread between the short sale price and opening bid at the foreclosure.  But you will need a local bidder and a trust relationship between all parties.  These are complex deals and must be done by a local.

Ski towns are in a unique category of investment.  Look into short term rentals and playing the appreciation game.  Hire a local expert that knows the local market.

sales data san miguel county telluride

The Telluride real estate market is at six-year highs for both the number and dollar volume of sales. Its a sellers market with lots of buyers and a small inventory. The market has been on fire during the first seven months of 2014 according to a report by Telluride Consulting.

During the first seven months of 2014 a total of 260 single-family home and condos sold. This is a 29 percent increase from 207 sales during the same period of time in 2013. The dollar volume for the same period increased 58 percent from $144.5 million in 2013 to $227.9 million in 2014.

According to the report single family homes and condos within the town of Telluride have been leading these sales figures. The prevailing sentiment is that buyers have changed from wanting large spacious houses and epic views to smaller, in-town properties close to the action.

Not only have sales increased but San Miguel County Treasurer Janice Stout reported that foreclosures are significantly down as well. The following table shows foreclosures for the first seven months of 2012, 2013, and 2014:

• 2012 - 62
• 2013 - 27
• 2014 - 16

Its a sellers market so if you want to sell, now is the time.

Extraordinary Beauty and home to the San Juan Mountains one of the most photographed mountain ranges anywhere. The stunning views are blessed with more sunny days per year than Hawaii! Ouray County, with a year-round population of about 4,200, is named for the celebrated Ute Indian Chief, Chief Ouray.

The town of Ridgway is centrally located just 37 miles from Telluride skiing, 9 miles from the Ouray hot springs, and 2 miles from the Ridgway State Park and Reservoir. Most of the county is public lands with 48 percent of our the land is under the care of the Bureau of Land Management and National Forest.

The town of Ouray is nestled at the foot of the mountains in a box canyon. You must look up to take in the stunning views and to know why it is called the "Jewel of the San Juans." Rock and Ice Climbers flock here to take advantage of the vertical real estate while most relax in the hot springs and vapour caves. Immediately next to town, adventure starts with hiking, skiing, four wheeling and ends with excellent restaurants.

Looking to live and invest in real estate here? Ouray County has a tight rental market, mid-priced housing, no transfer tax, proximity to the Montrose Regional Airport and the Telluride resort. Residents and visitors enjoy Ridgway Resevoir, soak in one of the area

I have listed 6 zip codes in Western Colorado.  I work in about 25 zip codes.  Is there any way of listing all of them or restricting my area to Western Colorado in another way?

So did the meet up happen? Is there a Greater Montrose Area Real Estate Investors Group?  Where do I sign up?

I'm wholesaling in Western Colorado and make my home in Ridgway.  Jumped over from options investing in the stock market to work local investments instead.  Lots of similarities but much more personal.  Building relationships first, makes every deal work and that is why I am here - to build relationships with other people in the business.

I have been on the phone every day to buyers and sellers, am working with the best RE agents in the area, and learning lots about my local market from every contact.  By far the best education comes from building my buyers list and am hopeful that BP will help me connect to others in Western Colorado who are wholesalers or cash end buyers that need local expertise from Grand Junction to Durango, Crested Butte to Telluride and all points in between.

I come from a diverse background that includes solar installation and service contracting which taught me alot about both new construction and remodelling.  A native of Colorado, I lived in Crested Butte for 19 years and sold out at the top of the market when I saw everything getting completely crazy.  That is what I see in the Stock Market now and feel it is a good time to move my investments back into real property.

I am very cautious and only invest in property way below market value and provide the same value to my buyers.  I work all kinds of deals: sub2, fix and flips, reverse short sales, buy and holds, you name it and I am either engaged in it or working to find the next deal.