All Forum Posts by: Trace S.

I heard about someone getting around the rules of a city who also dislikes Airbnb. They are letting people stay free per night and having higher prices for maid service which is required. And there are some other optional fees like having someone deliver food. I found it interesting they let people stay free and charge for other items to get around the rules.  

I welcome another down turn myself. Especially since i missed the up turn in this real estate market because of my adventures doing some government contract work. 

😕😕  Talked to some people i know from the loan industry who work with residential loans nationally. (USA). They say they are starting to see/hear  up tick in calls of people asking questions about loan defaults and bankruptcies in different parts of the country. These people say the data looks similar to some data from back at the beginning of the last real estate crash. If the data continues they think sometime in 2017 we could see the beginning of another (somekind) down turn. 

Just saw your post and thought I would come check it out and have something to drink.

Is now a good time to buy ?

The answer is almost always Yes. (The town is becoming a ghost town. Then a big NO..) 

 Almost every market has areas that are good even during the bad times. The differences is during the slow times it usually easier to find good deals.

Example is Detroit - Lots of people were telling people to run away from Detroit but if you take a look people have been making money there too.

Always keep in tune with the desired areas in your market.

I agree with your comment regarding Colorado - especially the Denver Market. We are somewhere in the peak.   I was also in Florida looking at the different markets. I have some friends near Ft Myers and Orlando which were a couple of the areas that I have been looking into. I hope it works out for ya.  

Hello,

Let me know if your still looking. I can take a look and see what I can do for you. I am located in the Denver Colorado Area.

Have a great weekend.

Thanks

Trace Seigal

Coregreen Companies

Property for sale in Dallas, Texas. 

This is a flip that went bad for someone and is looking to get out of it. I know the person who ownes it and I told them I would put it on the site to see what happens.

A agent says ARV Comes in at $400k. I would say more like $370k to $390k. I am not from the area so please do your own research.

Thanks

Office:  Call 303-500-3342

Facts

• Beds: 3
• House size: 2,100 sq ft
• Stories: 2
• Lot size: 5,963 sq ft
• Garage: Attached Garage
• Heating: Central
• Cooling: Central
• Construction: Wood Frame
• Year built: 1946
• Year Started renovated: 2015
• Property type: Single family

Hello Mr. Hamilton,

Please sent additional information.

Thank You

Trace Seigal

[email protected]

@Mike D.    Don't forget "I am no expert" Just like to give my two cents and keep learning more myself...    : )  

@Ryder M comments : 

I agree this is important to look at.  1. Tax advantages - don't forget you'll be deducting interest, HOA, property mangement fees and other expense so assume a 25% savings (depends on your tax bracket)

I would say keep this cost since you are not working for free if you decide to do it yourself.   2. Cut out that property manager - unless the place is in a rough area or falling apart it's very easy to self manage with something like RentecDirect.com. The key is getting quality tenants which should be easy in a hot market like Denver.

I would need to see the property and get more data to make a comment. 3. Vacancy, CapEx and repairs I'd put at 7% each to be more realistic to my experience (unless the place is a mess or in a bad area).

I would also pass with what I see so far..  Still, I probably would pass on this deal..........

My Numbers:

@Mike D. the numbers I used are from multiple sources but don't forget that it's just a average for the area of Denver. I agree with @Bill S you need to look at the specific areas.

I will usually looked at the data of just a few blocks (see what type of rental competition there is) then move out further from there. I will also call rentals (and go look at them) in the area to see how they answer a list of questions that I have and see how they answer them.

One more comment about one of @Bill S. comments.  : )

"Lots and lots of landlords have not kept up with the local market for rents. Don't be surprised to see rents well below market for poorly managed properties with long term tenants."

I know of a couple of Apartment Building & SFH owners that keep there price below the market (not because of being poorly managed) but because of there business strategy. One of there strategies is that they are very choosy about who becomes a tenant in there buildings. Because of the lower prices they receive a higher demand for there properties which in turn allows them to have larger pool of possible tenants to pick from. I am amazed on how long there waiting list is for tenants. In the past when the vacancy rates were higher they have always been 100% full to my knowledge.

Keep using Biggerpocket (and others sites) to continue getting different points of views. It works to your advantage.

Good Luck with the Hunting...