Dean Graziosi Weekly Wisdom #217 - Seeking Investor Area Managers

Thank you for such an awesome opportunity!

1) I am in Indianapolis, IN
2) The current unemployment rate is 7.6%, and was 8.4% year end 2011
3) Current average costs of a 3 bedroom is $124k
4) Average rent for same house is $906
5) Average annual taxes for same house are around $800/year
6) Current days on market are 88 days

Good luck all

1. CITY: (Centerville-Washington TWSP)45458-45459

2. Unemployemnt Rate:1/12(9.1%),1/13(7.3%)

3. Median Cost For 3bed(buy) $159,500

4. Median Cost For 3bed(rental) $796.00

5. Median Taxes: $2,697

6. Median Days On Market: 2012 (123 days)557 sold

Dual City Market

Yours truly,
Damarco Brooks

Here are the six questions to answer:

1. What city are you in? Saginaw Township, MI 48603

2. What is the current unemployment rate and what was it 12 months ago? Currently 7.6% was 7.8% in 2011.

3. What’s the current average cost of 3 bedroom house in your area? $75,000.

4. What’s the average rent for that same house? $800.00.

5. What are the average annual taxes for that property? $1,400.

6. What are the current days on market? 60 Days.

1. What city are you in?
Birmingham UK
2. What is the current unemployment rate and what was it 12 months ago?
7.6% from 7.0% a year ago

3. What’s the current average cost of 3 bedroom house in your area?
£80000
4. What’s the average rent for that same house?
£500/month
5. What are the average annual taxes for that property?
£800
6. What are the current days on market?
90 days

Metro Atlanta has several hot spots, but the best bet right now is in Cobb County, and specifically in Kennesaw. It is close to the interstate giving quick access to downtown or any other area of Metro Atlanta, and it has a major University giving it local stability and plenty of opportunity for rentals to both professors and students.

To answer your questions:

1) City: Kennesaw, GA
2) Current unemployment rate for Cobb County is 7.5% down 1.2% from 8.7% in October 2012
3) Average cost of a 3/2 is 128K. Understand this area has a range of 3/2 homes from 63K to 263K, and you can get a 4/2 or 4/3 for about the same price depending on the neighborhood.
4) Rent averages @1.2K
5) Annual taxes @2K
6) Current days on market average 67 one of the best in the nation.

I am looking to assist investors get into the market, know the area well, have connections to realtors - agents and brokers, rehab specialists, and property management individuals and companies. I am your person for the A.

Looking forward to working with you.

Lisa

1. Valdosta, GA

2. 8.2% current unemployment rate; 9.2% in 2011.

3. $71,962 = Land, $19,000 + Improvements, $52,962.

4. $900 average rent for 31602 area.

5. Annual taxes: $890.

6. 103 days on market.

Looking forward to a wonderful, prosperous 2013!!!

Let me first start off by saying I am willing and able to move anywhere in the country. I have really nothing holding me down because I'm single and I do this full time. But here are the specs for my home town:

1. Valparaiso, Indiana
2. The unemployment rate is currently at 6.5%, down from 7.1% year over year.
3. The average cost of a 3 bedroom house is $140,000.
4. The average rent for that same house is $1,200/mo.
5. The annual taxes for that property are $1,500.
6. The average days on market is 100.

If we bought the property at 50% ARV (70k) and put 15k rehab into it, here are the cash flow numbers:

- If we don't refinance it: $839.00/mo with a 11.56% Cap Rate
- If we refinance it at 70% of the ARV: $64.02/mo with an extra $10,900.00 from the refi.
- If we refinance it only to get your money back: $150.22/mo

(The above refi numbers are based on a 15 year amortization at 5%)

The numbers aren't the greatest, I know. But if you find a better place to invest I am willing to move there! Good luck on your search!

1 What city are you in
A Boynton Beach, Florida
2 Current unemployment Rate
A 8.7% 12 months ago 8.1%
3 Average cost of a 3 Bedroom House
A $150,000
4 Average Rent
A $1300
5 Average Taxes on Property
A Abberdean Sub-division 8086 Cassie Dr $1847
6 Average DOM
A 184 DOM - 1868 homes sold average cost $150,000
avarage cost in Boynton Beach $187,186 25 sold @
$137,452

Dean and Matt I would love to be your Area manager, I been unemployed for 1.5 years and this would give me the chance to learn from the best in your field PICK ME PLEASE..
Also thank you Dean for your kindness on giving away your Xmas gift the mini IPad

1) Tallahassee, Fl

2) unemployment 2011 - 7.7%
2012 - 6.4%
3) price for 3 bedroom house $140,000

4) rent for same house. $950-$11,000

5) annual taxes. $1,200-$1,400

6) days on the market. 130

1. What city are you in? Clearwater, FL
2. What is the current unemployment rate and what was it 12 months ago? 8.2 currently was 10.5 one year ago
3. What’s the current average cost of 3 bedroom house in your area? recently sold $162,000. This can vary from area to area in Clearwater and Tampa Bay. A particularly upscale area in Clearwater the average is $200 K. (This is not Clearwater Beach where averages are of course much higher. Our county is known for our award winning beaches.)
4. What’s the average rent for that same house? $1200 for the $160,000 house.
5. What are the average annual taxes for that property? $2246
6. What are the current days on market? 120 days

I have been involved in Real Estate investing for many years on a small scale and am interested in expanding my activities, either in this area or another area - I am not fixated on Clearwater. I attended the DG seminar on Dec 29 on Clearwater Beach and learned a great deal but was unable to get involved with the offer at that moment in time due to time constraints. Now I am ready to get involved. I have had 2 deals in the last month that I am in the process of wrapping up. I am looking for a lot more.

1. What city are you in?
2. What is the current unemployment rate and what was it 12 months ago?
3. What’s the current average cost of 3 bedroom house in your area?
4. What’s the average rent for that same house?
5. What are the average annual taxes for that property?
6. What are the current days on market?

Hi Dean,

Here are my answers to your questions:
1. I live in Madison, GA., which is one hour east of Atlanta
2. Dean, When I buy property I look at several things, not just the average cost. First I look at the area, the asking price, the cost to rehab, recent sales in the area, and then the average cost.
I just purchased a home in Winterset, Iowa which was a foreclosure. The previous owner had an outstanding loan for 77,000 before he went into foreclosure. The taxed asst. value was 70,000. And I estimate the rehab between 5000 and 20,000. I paid 3,700.00 for the property...
3. I have bought several homes for 24,000, that had sold previous for 75,000 - 100,000.
4. Currently there is no mortgage on these properties. I rent them out from 500 -600. I do not plan to sell them right now. I will recover my initial cost and then I might sell them.
6000 per year x 4 years = 24,000. in income
5. Because I buy them low, the average tax is 400 to 500 dollars a year. The insurance is about the same.
6. Dean these properties go fast. There is a lot of competition when you buy at these prices. you have got to have cash and be ready.

Sorry I am not as fast as others with the answers, but I would like to leave comment first. It is a joy to see you two together, like Burt and Ernie. Just to see Matt smile with a slight tear in his eye when you mentioned the first Send Me Away winner. That is awesome. I will get the answer ASAP. Although I am in you same state, Tucson AZ.

Answers to the six questions:

1> Pittsburgh, PA
2> Unemployment Rate for 2012 was 8.3% and 8.3% for 2011
3> Average cost of a 3 bedroom house is $125,000
4> Average rent for a 3 bedroom house is $850.00
5> Average Annual Property taxes are $1,500
6> Current days on market is 75 days

1. City

Regina, Sask, Canada

2. Unemployment Rate

Dec. 2011 5.2% Dec 2012 4.3%

3. Average cost 3 bed home

300k

4. Average rent

$1400

5. Average prop taxes

$2800.00 anually.

6. Days on Market

14

1. What city are you in?

Camarillo, CA

2. What is the current unemployment rate and what was it 12 months ago?

City County
Aug 2010 8.1% 11.3%
May 2011 6.8% 9.5%
Dec 2011 6.7% 9.4%
Oct 2012 6.2% 8.6%
My city has much lower unemployment than others in the county.

3. What’s the current average cost of 3 bedroom house in your area?

zip 93010 $478,705 Older area of the city
zip 93012 $498,194 Newer area of the city

4. What’s the average rent for that same house?

Rent zip 93010- $2165
zip 93012- $2103

5. What are the average annual taxes for that property?

Tax Rate ~ 1% of purchase price unless accessor finds purchase price unusually low.

6. What are the current days on market?

Zip 93010 86 days
Zip 93012 80 days

What city are you in? Lewisville, Texas, a Dallas suburb.

2. What is the current unemployment rate and what was it 12 months ago? Dallas area currently 6.9%, 12 months ago 8.5%.

3. What’s the current average cost of 3 bedroom house in your area? Lewisville (and similar suburbs) $176,000. Dallas metro $245,000.

4. What’s the average rent for that same house? Lewisville (and similar suburbs) $1,350 month, Dallas metro $1,600.

5. What are the average annual taxes for that property? Lewisville (and similar suburbs) $4.320 annual, Dallas metro $6,000 annual.

6. What are the current days on market? Lewisville (and similar suburbs) 118 days, Dallas metro 96 days.

1. What city are you in? Tallahassee, FL

2. What is the current unemployment rate and what was it 12 months ago?The current rate is 7.0% Last January it was 8.0%
3. What’s the current average cost of 3 bedroom house in your area? The Average cost of a 3 Bedroom House is 152,000 to 158,000
4. What’s the average rent for that same house? The average rent is 1000.00 to 1200.00
5. What are the average annual taxes for that property? The average taxes for this would be 900.00 to 1200.00 on Average.
6. What are the current days on market? Avg. 180 Days

Hi Dean and Matt,
Dean, first I want to thank you for your weekly words of wisdom. They are a motivator for me as I am sure for many others also. Second, I apologize for the length of my post. Thank you for the gift of opportunity to work with the best of the best. I am a real estate broker as well as an investor and my name is Ruth Dean. My husband is also a independant broker and we have been investing for 15+ years. We decided we needed more education to build our security for our future as well as the future of our children and grandchildren or anyone who may need our help in making a difference for their future. We joined the DG family and recently met Dean at the Buyers Summit in Nov. We live in the Raleigh/Research Triangle Area which is known for some of the best collegiant schools, Duke, NC State, North Carolina State. Raleigh's unemployment rate was as high as 10.7% in 2009. Currently it is at 7.4%, which is down from 8.6% in 2011. There were 1344 home sold in the Raleigh market in last 12 months. Our average 3/2 home sold for $182,700. DOM were 105, taxes are approx $1100 in the county and $1650 within the city limits. Rental averages are approx $1100. We have many areas outside Raleigh that have much different statistics and could be a better investment. We invest in the areas outside of Raleigh and have purchased several homes for .55-.65 cent on the dollar and rent for $900 a month. These houses are typically 3/2 1150+ sq.
Raleigh is a great place in expand your portfolio!

I would be honored to represent you in Minnesota. This area is great. Thanks for the opportunity.

1. What city are you in? Minneapolis, MN (Twin Cities)

2. What is the current unemployment rate and what was it 12 months ago? 5.2% down from 5.9% a year ago

3. What’s the current average cost of 3 bedroom house in your area? $222,125

4. What’s the average rent for that same house? $1800

5. What are the average annual taxes for that property? $2,800/yr.

6. What are the current days on market? 114 days on market

1) I am in Edmonton Alberta Canada. This is one of the only places in the world that is actually booming. Thanks mostly because of the Oil industry. We have a huge shortage of tradesmen and construction workers and a need for more and more housing.

2) Our current unemployment rate is 4.0% down from 5.3% a year ago.

3) The average cost of a 3 bedroom house is $338,000.

4) Average rent on a 3 bedroom house is $1566 per month.

5) Taxes on average are $2421

6) The average days on market is currently 66.

1. What city are you in?
LEESBURG, VA.

2. Current unemployment rate?

3.7% Currently 5.15% ==12 months ago

3.Average cost of 3 bedroom house $335,000

4. Average rent same house $2300-$2500 per month

5. Average annual taxes same house $3350 annually

6. Days on market

Detached==78 days==11/2012

Attached TH==39 days==11/2012

1. Chesterfield, VA (sub of Richmond, VA - state capital)
2. 5.3% now, was 5.9%. Richmond 9.2% now 8.3%.
3. Chesterfield $233K, Richmond $203K.
4. Varies $1000 to 1500, depending upon area.
5. Chesterfield $2200/yr; Richmond $2400.
6. DOM is approx 55.

Richmond is the state capital so there are alot of state (and federal) employees. Also, there are several military bases in area that are expanding. Industry is strong.

Thanks for the opportunity. Enjoyed both Dean's and Matt's talks at the October events in Vegas. You shared alot of great information.
Bruce

1. Sioux Falls, SD

2. OCT12 (last verified #) was 3.7%; OCT11 3.8%, hit 4.8% in FEB12.

3. $155,000

4. $1200/mo

5. $2200

6. 75

Answers: Fort Lauderdale, Florida
Unemployment rate: 6.8%, 12 months ago 8.3%
Average cost of 3 bedroom house: $200,000
Average rent: $2,000
Average taxes: $1,354
DOM:62

1.Atlanta,georgia
2.Current unemployment rate-10.6%.12months ago 9.1%
3.current average cost of 3 bedroom house- $145,000
4.Average rent $700
5.Average annual taxes $2,700
6.Current days on the market 16 days.

1. Cambria Heights Queens, NY 11411
2. The current unemployment rate is 6.90%
and it was 7.40% 12 months ago
3. The average 3 Bedroom house $370k
4. Rent in a 3 Bedroom house $1800.00 mon
5. The average Annual Tax $1900.00
6. The current day on the market 240 day

Hey Dean & Matt

Thank you for sharing all of these great opportunities with us.
The area that I am in would be a GREAT area to MANAGE for you:)

Thanx again
Gloria Williams

SUFFOLK,VA. UNEMPLOYMENT 8.9 HOUSE 3BED,2BATH,185,000.00 RENT 1150.00 TAXES 1595.00 ON MARKET 75 DAYS WILLIAM COLLINS

1. Greetings from Ft. Lauderdale, Fl, land of Sun Fun and Foreclosures!

2. Unemployment Rate now 8.3%, down from 10% last year

3. Average cost of 3BR SFH 270,000

4. Average rent for Same : $1427 (rent for 3BR TH is $1535)

5, Avg Taxes $1297/year

6. DOM Average is 187, Median is 127

Kevin and Diane

My City: Vallejo, CA (suberb of San Francisco)

Current Unemployment Rate: 11.5% DOWN from 15.3% from same time last year.

Average 3BED House Price: $150,000.00

Average Rent: $1,500.00

Annual Taxes: $1,112.47

Days on Market: 28

I have a 2bed condo here (nice area) and when living in NYC, I NEVER had a problem finding a renter in 5 days or less. This little town is buy the water just Northeast of San Francisco. Everybody wants to live here - so much so that I also decided to get my real estate license because activity is starting to pick up. Hope to hear from you guys! Bruno

1.) Niles Michigan

2.)Current - 8.20% unemployment
12 months ago 10.1% unemployment

3.) 60,000.00 - 80,000.00 average cost of 3br

4.) 950.00 - 1,300.00 average rent of 3br

5.) 3br 2ba 1480sqft. $69,000 @309.00 a month
assessed taxes in 2011 @ 39.800 (29) days on
market.

6.) 3br 2ba 1150sqft. $135,000 @604.00 a month
assessed taxes in 2011 @ 62,200 (89) days on
market