The Double Comma Club

Chris Gordon loves what he does. He especially loves it when he has no juicy stories to bring home other than, "I worked with a bunch of nice people today that wanted to get their ducks in a row, so we set that up." He wishes younger people would set up their estates to have peace of mind, not just for themselves, but for those who will either care for them in the situation of an illness or accident, or those they leave behind. He has some great tips to add some humor to what can be an uncomfortable part of growing up. Even couples married for decades put this off and then there is no easy way to make transfers and act on behalf of the loved on or children if these pieces aren't in place. You'll gain a lot of comfort and information from this episode of The Double Comma Club.

Learn more about the services Chris Gordon offers at Stewart + Gordon.

We hear about owning short-term rentals. Many of us take advantage as we have started traveling again. Gone are the days when you could grab some random property in a decent area, furnish it with Goodwill furnishings, and make a profit after covering your mortgage. Listen as Nicole's guest Michael Vialpando makes it simple to understand how to do this, and enjoy the process.

What are the costs beyond the cost of the home you select? After you make an earnest money deposit, here are some of the costs and fees you can expect:

Inspection $450-600 Well, septic, sewer, radon may have additional fees.

Schedule the appraisal. $750 fee.

Title company $1000 - $1200 which includes lender fees - processing and underwriting fee.

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Setting up escrow - pay the full first year of insurance upfront. This can be rolled into the loan

• 2-3 months of escrowing that insurance payment.

There are no more hidden fees - they all need to be upfront. They cannot go up, only down. 

I'm SO excited! The Next Big Thing is approaching and I can't wait. I will of course be there sharpening my own saw, but I will also be SPEAKING. I'll be giving the latest updates in Lending, and what to expect down the road. I hope you're as excited as I am; The Next Big Thing is coming, and we hope to see you there.

We are thrilled to have Katie and her expert panel speaking about Commercial real estate trends, and how that affects the Residential Real Estate Landscape. Katie is the CEO of the Denver Metro Commercial Association of Realtors, which represents 2,000 commercial real estate professionals across Colorado!

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It really is good to give, and we are thrilled to have Javier Alberto Soto, President and CEO of The Denver Foundation speaking at The Next Big Thing. Javier will be discussing how to integrate philanthropy into your business model, and the advantages of doing so.

Let's welcome Ann Alba and Stacey Veden, customer experience and service specialists from The Broadmoor Hotel. Combined, these 2 women have 34+ years of customer service experience and will be sharing how their principles translate to the world of real estate. You DON'T want to miss this dynamic duo share their keys to a 5-Star 5-Diamond experience.

Tickets available here: https://bit.ly/3iFGic4

Comparatives are funny because they can tell any story you want. The market is slowing down? The market is still nuts! The idea real estate is hyper-local is at its epitome in times like these. Nicole dives into the Denver Metro local numbers and a bit about the economy but let's start with a story because perspective is everything.

Her $890,000 listing had 80 showings,

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DMAR’s November Market Trends Report shows buyers deciding to fight the good fight regardless of rates going up. Active listings dropped back to 3,376, partially due to 13.28% fewer sellers (new listings) and 7.42% more buyers (under contract) than last month. Buyers today have 782 more homes to choose from compared to the hot Spring market, can take an extra day to view the home, and will pay almost 3% less over asking than they did in the Spring. However, compared to last Fall, this market is on fire! We have nearly 1,500 fewer homes to choose from, yet we put the same number under contract for 1.5% more in almost half the time.

The Federal Open Market Committee’s November meeting is happening as we go to print with this month’s Market Trends report. They are expected to announce the much-awaited tapering of $120 billion per month in agency mortgage-backed securities and Treasuries purchases. Powell will undoubtedly emphasize flexibility in his public remarks after the November meeting as the committee is likely to split on what actions to take. However, Fannie Mae, NAHB, NAR, and the MBA are sticking to their forecasts estimating 30-year mortgage rates hit 3.5 to 4% in 2022.

Do you currently own investment properties? OR Are you looking to begin your investment journey, but are hesitant due to low inventory? Well, we are here to tell you that deals ARE happening, and you CAN add exponential value to your real estate investment (or future investment). Jacob Mueller of Atlas Real Estate starts by explaining the differences and benefits of both ADUs and AFSs, as well as the rules, the effect on taxes, and more. But he mainly talks about maximizing your investment property with a simple math problem of the ratio of bedrooms and baths to square footage. We all are paying more for every piece of real estate. Get the most out of it now and in the future when you sell it. We know the level of commitment & financial assets needed to invest in real estate, so it's okay that the process comes with a bit of hesitation. But, there are plenty of options available for you to start with one or modify your current strategy that will add value to your property.

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Jacob Mueller is an experienced owner/professional with a demonstrated history across several industries including real estate, marketing, and software. Having grown up in the Pikes Peak region, I'm currently serving my clients' investment real estate needs with the outstanding Atlas Real Estate team.

The Next Big Thing is shaking up how Real Estate professionals will define business success. This two-day event will be far from typical. While our past may have shaped us, it is time to define the future. This energy-rich, content-driven event will introduce the biggest drivers shaping the industry, and instill how to harness the next big thing to catapult your own business.

Built on the foundation of helping others build wealth through real estate, The Rueth Team has created the ultimate tool that is The Next Big Thing. Over the course of two days, you will hear from industry leaders and pioneers who have paved the way and achieved the highest levels of success. They are leaders who inspire, and businessmen and women who are challeging the 'norm.' You'll discuss how the world is changing and what’s needed to stay two steps ahead. Together with four hundred and fifty other professionals, you will build a foundation to become the Next Big Thing.

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Speaker Numbers 1 and 2 at THE NEXT BIG THING will be... Caleb Jones and Dan Habib

At The Next Big Thing, Caleb will lead a panel of experts and futurists who are driving the next generation of real estate technology.  They will discuss the immediate impacts of Artificial Intelligence (AI) and industrial automation that will change how you and your partners engage.  They will share the tools you can use right now to improve your overall effectiveness and efficiencies for business success. 

Dan Habib is the executive vice president and co-founder of MBS Highway and most recently a co-founder of Crypto Charged, a cryptocurrency firm dedicated to disseminating critical information, data, and analysis.  In 2020, Dan was named as one of the 40 most influential Mortgage Professionals under 40 by National Mortgage Professional (NMP) Magazine.

Speaker Number 3 at THE NEXT BIG THING will be... Kenyon Salo, The Bucket List Life

Kenyon Salo is one of the top keynote speakers and trainers in the fields of inspiration, leadership, and adventure.

One of only five members on the Denver Broncos Thunderstorm Skydive Team, he is seen each week during game season flying into the Denver Broncos Stadium at 60+mph, ending with a soft tip-toe landing on the ten-yard line. He brings to the stage over 20+ years of successful audience engagement through humor, awe-inspiring moments, prolific storytelling, and ‘edge-of-the seat’ content.

Kenyon’s mission is to give your event the next generation of keynote presentation experiences.

Speaker Number 4 at THE NEXT BIG THING will be... Adam Williams!

There is no denying that Lead Generation is becoming one of the largest and most active sources of finding your next prospect.  We are inundated with companies offering “guaranteed” deals with lists of “hot” prospects.  With all things in life, if it sounds too good to be true, more than likely it is.  Adam is going to share how you can implement a lead generation program to fit to your business model and scale.  Learn what the sources are for an automated lead and how you can open up your business to new sources of prospects.  

Speaker Number 5 at THE NEXT BIG THING will be.... BRIAN MOSES!

Brian has been ranked in the Top 10 for a major Real Estate Franchise, from more than 140,000 agents, seven consecutive years! His highest ranking was #2 in the world! During his tenure, he sold more than 400 homes a year, producing sales volume of more than $100 million in volume, making over $3.5 million per year in commission income!

Speaker Number 6 at THE NEXT BIG THING will be... RYAN AVERY!

A world champion public speaker and coaching professional, Ryan will tell us how to go from "A" to "THE" agent/professional in 2022! This is your time to shine, we want you at The Next Big Thing!

When he came across the video of someone trying to win The World Championship of Public Speaking, he thought “Isn’t public speaking the hardest thing for some people to do, and aren’t most people more afraid of public speaking than anything else? What if I enter this contest? What if I have never given a speech in my life but win this contest? What if I win the world championship THIS year?”

Eight months later, Ryan became the youngest World Champion of Public Speaking in history competing against 30,000 people from 116 countries to win the World Championship of Public Speaking. It was the hardest thing Ryan had ever done…  at the time! Ryan is still the youngest winner in history, but after becoming the World Champion, he wanted to see if he could apply the same principles and strategies he learned winning the contest to other things in his life.

Using the same strategies, Ryan has broken numerous world records, has written two best-selling books and works with companies all over the world showing them the strategies he used to go from A speaker to THE speaker in less than 8 months.

Stay tuned for more announcements about this event. You can learn more here https://thenextbigthingcolorado.com 

We know just how stressful deciding to purchase a home can be, especially when you're already a homeowner! It can be nerve-wracking to think about purchasing a new home when you have hundreds of thousands of dollars already in your current asset...

BUT, THE FEAR STOPS HERE!

When it comes to buying and selling at the same time, or even purchasing before you sell, it is all about strategy and diving into the details. Sellers are in a very strong position in our market right now, so buyers who also have listings on the market have to come up with a strategy to make their offer stand out.

Join Nicole Rueth and Justin Knoll as you are given options to simplify this coordination.

There is a lot of math in this episode, important math. Listen while Nicole walks you through the cost of waiting to purchase a home, especially if you are currently paying rent. The last 18 months of everyone's lives have been exhausting. But putting off purchasing a home shouldn't be one of the things falling to the wayside. If you've been on the fence, now is the best time to buy. Why? It's not just because interest rates are low, it's because of the two-fold effect of appreciation and principal reduction. No matter how good of a deal you have on rent, you're not getting the best bang for your buck or making the most of the roof over your head. In fact, you'll lose out on quite a lot by waiting. But just how much...? 

Learn more about building wealth through real estate on Nicole's YT Playlist:

https://www.youtube.com/playlist?list=PLDnB7ZSa5nonyH6H8F9-RAS6AtdlOMo7Q 

• How can I use equity to pay for college?

Nicole's personal experience.  She had three in college at the same time - one graduated, two are still in. At 20, Nicole's two boys were able to purchase their first homes. They bought income property where they could live, and then become the landlords and rent out the other rooms in their homes to not only pay the mortgage but to help with cash flow.

Each home cost $400,000  with a 3% down as first-time homebuyer or could be done using downpayment assistance.

If you put less down, you'd still cover the mortgage with the income, but maybe not as much pocket money.

You can use your own home equity to purchase investment properties do follow this same model and cover room and board, and increase your real estate portfolio. Consider this option instead of a 529 plan. That home you purchase for your child when they are born could appreciate over the next 15-18 years and will pay for college, or a whole lot more using the rental income and principal reduction. It could help pay for their first home and even their wedding, PLUS their education.

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OK, say you didn't plan this when they were born. Here are a couple of things to consider. You can put 10% down to help with cash flow, but if the kids did it on their own, they could have gone after downpayment assistance. 3% or 3.5% down FHA is a great start. 

Room and board are two of the most expensive items to factor in for an education.

Think about a single-family home that has a rental-able basement, building in the yard, garage. Or maybe further away from campus. The answer is a creative YES - how do you do this in a hot market? 

Listen to this 10 minute episode. You'll want to listen to the credit series on how to increase your credit score to learn more.